The Best Practices Show with Kirk Behrendt 975: Revenue Reality: Mastering Production & Write-Offs – Miranda Beeson
Freedom is what drew you to dentistry. But somehow, you're stuck working harder, earning less, and with less control of your time and life. In this episode, Kirk Behrendt brings back Miranda Beeson, ACT’s director of education, to share the key to impacting your freedom and profitability: understanding and mastering write-offs. To learn how to lower your write-offs so you can take back your time and money, listen to Episode 975 of The Best Practices Show!
Learn More About Miranda:
- Send Miranda an email: miranda@actdental.com
- Follow Miranda on ACT’s Instagram: https://www.instagram.com/actdental
- Send Courtney an email to learn more about ACT: courtney@actdental.com
More Helpful Links for a Better Practice & a Better Life:
- Subscribe to The Best Practices Show: https://the-best-practices-show.captivate.fm/listen
- Join The Best Practices Association: https://www.actdental.com/bpa
- Download ACT’s BPA app on the Apple App Store: https://apps.apple.com/us/app/best-practices-association/id6738960360
- Download ACT’s BPA app on the Google Play Store: https://play.google.com/store/apps/details?id=com.actdental.join&hl=en_US
- Join ACT’s To The Top Study Club: https://www.actdental.com/ttt
- Get The Best Practices Magazine for free: https://www.actdental.com/magazine
- Please leave us a review on the podcast: https://podcasts.apple.com/us/podcast/the-best-practices-show-with-kirk-behrendt/id1223838218
Episode Resources:
- Watch the video version of Episode 975: https://www.youtube.com/@actdental/videos
- Learn more about Smile Source: https://smilesource.com
- Learn more about Clerri: https://clerri.com
Main Takeaways:
- Figure out your effort gap, collections gap, overhead gap, and your cash flow gap.
- Know how many days a month you work, and how many you're working for free.
- Always put in your full fee. You may have more elective write-offs than you think.
- Evaluate your membership plan. How much are you charging versus writing off?
- Determine how much you're writing off by being part of an insurance plan.
- Eliminate emotional discounting. Learn to charge what you're worth.
- Start celebrating net production rather than gross production.
Snippets:
0:00 Introduction.
0:57 Smile Source and ACT have merged!
3:23 Why understanding write-offs is important.
8:15 ACT’s core focus and core purpose.
9:34 ACT’s GAPs at a Glance.
12:16 A great coach isn't going to turn the dials for you.
14:51 Overview of the financial gaps.
20:35 The effort gap, explained.
22:22 Three important questions to answer.
25:44 How production leaves in this gap.
29:28 Insurance adjustments.
37:08 Membership plan adjustments.
40:59 Q&A: Do you recommend anyone who helps facilitate membership plans?
43:03 Elective adjustments.
49:14 ACT’s energy quotient, explained.
51:41 Steps to closing the effort gap.
54:40 Final takeaways.
56:42 ACT’s new Financial GAPs Calculator.
58:46 ACT's BPA.
Miranda Beeson, MS, BSDH Bio:
Miranda Beeson has over 25 years of clinical dental hygiene, front office, practice administration, and speaking experience. She is enthusiastic about communication and loves helping others find the power that words can bring to their patient interactions and practice dynamics. As a Lead Practice Coach, she is driven to create opportunities to find value in experiences and cultivate new approaches.
Miranda graduated from Old Dominion University, and enjoys spending time with her husband, Chuck, and her children, Trent, Mallory, and Cassidy. Family time is the best time, and is often spent on a golf course, a volleyball court, or spending the day boating at the beach.