Bulletproof Dental Practice GROWTH BY PROXIMITY with Dr. Alex Edgerly
The Bulletproof Dental Podcast Episode 397
HOSTS: Dr. Peter Boulden and Dr. Craig Spodak
GUEST: Dr. Alex Edgerly
DESCRIPTION
In this podcast, Peter Boulden and Craig welcome Alex Edgerly, a general dentist from Southeast Texas, about growing his dental practice. They discuss managing patient demand, leaving insurance networks, strategic expansion planning, and maximizing chair utilization. The conversation covers construction strategies that minimize patient disruption, financing options, tax benefits of real estate investments, and architectural planning using 3D visualization tools. They also explore financial projections, overcoming expansion fears, community engagement, and the value of mastermind groups for professional development and support.
TAKEAWAYS
-
Alex Edgerly welcome and background
-
Alex is currently planning to expand his practice from 7 to 12 operatories.
-
He has transitioned out of insurance networks to improve profitability.
-
Alex trained his staff on effective patient scheduling and communication.
-
Alex's journey reflects the challenges and rewards of dental entrepreneurship. The excitement during construction can positively impact practice revenue.
-
Engaging patients and staff during construction can minimize disruption.
-
Understanding the structure of construction loans is crucial for financing.
-
Community needs should drive decisions about practice expansion.
-
Cost segregation analysis can lead to substantial tax savings.
-
Strategic planning is essential for sustainable growth in a dental practice. Spend copious amounts of time with your design.
-
Utilize technology like Revit for better planning.
-
Overcoming fear of growth is essential for success.
-
Mastermind groups provide valuable support and accountability.
-
Transparency with your team and family is important.
CHAPTERS
00:00 Introduction to Alex Edgerly and his journey in Dentistry
07:20 Planning for Expansion
15:05 Serving the Community Through Expansion
18:01 Transitioning Out of Insurance Networks
21:24 Current Status and Future Plans
24:26 Minimizing Patient Disruption During Construction
30:10 Navigating Lending and Financing for Expansion, tax benefits and ROI in real estate
38:44 Strategic Planning for Future Growth
42:32 Architectural Planning and Design Importance
49:15 The Value of Community and Team Engagement
50:57 Financial Projections and Growth Strategies
54:50 Overcoming Fear of Growth and the role of Masterminds in Personal Development
REFERENCES