Reflections on 47 years of owning a successful FFS dental office with Dr Richard Schlossberg

Dr. Richard Schlossberg is a retired dentist with 47 years of experience in running a successful fee-for-service practice in Baltimore Maryland. In this podcast Richard offers advice for dentists starting their careers, sharing his journey from graduation, through practice ownership, and right up to what he’s doing now in retirement with the University of Maryland. He began his career as a practicing dentist in the US Navy, which provided him with valuable experience, confidence, and leadership skills. After leaving the Navy, he worked as an associate in a practice before starting his own practice. Richard emphasizes the importance of having the proper advisors, such as financial advisors, accountants, and lawyers, when starting a practice. In this conversation, Richard Schlossberg and Dr. David Moffet discuss the importance of communication and building relationships with patients in dentistry. They emphasize the need to focus on the patient as the centre of attention and showing genuine interest in their patients’ lives. They also highlight the significance of punctuality and respect for patient's time. Richard shares his experience of mentoring dental students and advising them on their career choices. They also discuss the importance of transparency and honesty in buying and selling dental practices. If you want your practice to be at the forefront of dentistry in 2024 and beyond, don’t miss this episode! What you will learn: [01:20] Introduction and Background [02:36] Starting in the US Navy [04:41] Working as an Associate and Starting a Practice [07:30] Building a Team and Creating a Positive Work Culture [11:05] The Importance of Advisors and Proper Planning [14:33] Maintaining Long-Term Relationships with Patients [18:51] Communication and Patient Care [21:41] The Changing Landscape of Dentistry [25:55] Building Relationships and Loyalty [28:55] Putting the Patient First: The Importance of Communication and Building Relationships [31:32] The Value of Punctuality and Respect in Dentistry [36:24] Transparency and Honesty in Buying and Selling Dental Practices [44:38] Mentoring Dental Students: Providing Guidance for the Future Takeaways:- Starting as an associate in a practice can provide valuable experience and confidence before starting your own practice. Having the proper advisors, such as financial advisors and lawyers, is crucial when starting a practice. Communication with patients is key to building long-term relationships and maintaining a successful practice. Building a loyal team and creating a positive work culture can contribute to the success of a practice. The landscape of dentistry has changed with the rise of dental service organizations and insurance, making it more challenging for dentists to start their own practices. Always prioritize the patient and show genuine interest in their lives. Punctuality and respect for patients' time are crucial. Transparency and honesty are essential in buying and selling dental practices. Mentoring dental students and providing guidance on career choices is valuable. Listen and Watch here: YouTube: Spotify: Facebook: Apple: Sound Bites:- "I made a very intelligent decision by doing it when I found that when I left the two years in Navy, I was really ready to go on to a possible private practice." "Make sure that you have the proper advisors going into the associateship of that practice." "I had so much confidence in myself and what I did in that practice for the five years and the following of patients. I had no problem because I had been thinking about it for a while if that happened." "The patient is the centre of focus when they're there. They are the centre of focus." "You're not just our dentists, you're our friends."