Bulletproof Dental Practice

The Bulletproof Dental Podcast Episode 340 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUESTS:  Randy Smith   TAKEAWAYS Quality sponsors are crucial in real estate investments to ensure success and minimize capital loss. Investing in real estate should be a long-term strategy focused on steady cash flow and high-quality deals. Diversification is important in real estate investing to spread risk and maximize returns. Tax advantages, such as depreciation, make real estate investing an attractive option for wealth accumulation. Supporting charities, such as Warrior Sailing, can provide a sense of fulfillment and make a positive impact.   Chapters 00:00 - Introduction and Favorite Places 00:30 - Different Types of Real Estate Investment 05:42 - The Challenges of Direct Ownership 08:20 - Why Real Estate is a Wealth-Building Asset 09:16 - Different Types of Real Estate Investments 21:47 - The Importance of Diversification 23:34 - The Risks and Rewards of Real Estate Investing 27:48 - Educational Resources 36:36 - The Importance of Proper Pricing 40:19 - The Role of Sponsors in Real Estate Deals 44:19 - The Value of Dividend Stocks 46:41 - The Importance of Quality Tenants 49:21 - The Value of Real Estate Reproduction 56:31 - Tax Advantages of Real Estate Investing 59:56 - Real Estate Investment Education 01:09:17 - Opportunity to Invest in Future Deals 01:14:31 - Supporting Charity: Warrior Sailing   REFERENCES Bulletproof Real Estate Warrior Sailing Bulletproof Summit Bulletproof Dental Practice

The Bulletproof Dental Podcast Episode 339 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUEST: Brian Colao   TAKEAWAYS The dental industry is experiencing a shift towards same store growth as M&A activity becomes more constrained. Understanding your EBITDA is crucial for practice growth and valuation. Culture plays a significant role in practice value and patient satisfaction. Innovation, technology, and AI are driving same store growth and improving patient care. Joining a DSO can provide dentists with more opportunities for career advancement and financial stability. Working for a DSO can provide greater job security and protection against unpaid wages compared to private dental offices. DSOs have better quality control measures in place, ensuring a higher standard of care for patients. The dental profession is expected to become more consolidated, with DSOs accounting for a larger percentage of practices. As consolidation increases, valuations are likely to rise due to decreased supply and increased demand. The consolidation of the dental profession may pose an existential threat to insurance companies. Market conditions, including interest rates and political factors, can impact deal flow in the dental industry. Building a business that you don't want to sell can be a viable alternative to selling, but it's important to choose the right growth partner. The DYKEMA Summit is an annual event that brings together dental professionals to discuss industry trends and best practices.   Chapters 00:00 - Introduction and Setting the Stage 01:19 - The Pulse of the Dental Industry 04:13 - The Importance of Knowing Your EBITDA 07:56 - The Changing Landscape of Dental M&A 12:43 - The Importance of Culture in Dental Practices 18:46 - The Transition to Same Store Sales Growth 23:05 - The Impact of Technology and AI in Dentistry 31:28 - The Advantages of Joining a DSO 34:43 - Benefits of Working for a DSO 35:49 - Quality Control in DSOs 37:03 - Consolidation of the Dental Profession 39:35 - Potential Threat to Insurance Companies 44:40 - Building a Business to Keep or Sell 49:43 - DYKEMA Summit       REFERENCES Bulletproof Summit Bulletproof Dental Practice

The Bulletproof Dental Podcast Episode 338 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUESTS:  Ophir Tanz   TAKEAWAYS Ophir’s introduction and background Applying powerful technology to industry Identify early to treat accurately Quality care beings with accurate diagnosis AI can help dentists accurately diagnose conditions such as caries and periodontal lesions. AI tools can enhance patient communication by providing visual aids and animations. The future of dentistry will likely involve the integration of AI into routine dental practice.   CHAPTERS 00:00 - Introduction and Background 02:04 - The start of Pearl AI 06:25 - The need for AI in dentistry and the impact of AI in diagnosis and treatment acceptance 08:13 - Using AI to improve patient communication 09:33 - The importance of accurate diagnosis 19:11 - The future of dentistry and AI 25:11 - The Importance of Addressing Tooth Wear 28:00 - The role, future, and impact of AI in Dentistry 37:19 - The Role of AI in quality assurance 38:15 - closing remarks     REFERENCES Bulletproof Summit Bulletproof Dental Practice Pearl AI

The Bulletproof Dental Podcast Episode 337   HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUESTS: Trey Tippit and Dwight Peccora   TAKEAWAYS Exploring innovative ideas can lead to improvements in dental practice. Dentistry as a service can enhance the patient experience and create a stronger connection with the practice. Self-service dental offices can provide convenience and efficiency for patients. Personalized video outreach can help retain patients and improve communication. Addressing the issue of consolidation in the dental industry can benefit dentists and promote independent practices. Incentivizing the dental team for results can help maintain growth and motivate employees. Utilizing a real-time incentive and bonus structure app can provide employees with up-to-date information on their performance and encourage them to achieve their goals. Implementing a dashboard for real-time tracking can help dental practices monitor key performance indicators and make data-driven decisions. Gamifying performance and tracking can create a sense of competition and motivation among team members. Auditing systems and focusing on scalability can help dental practices build a strong foundation for growth. Integrating AI technology into dental practices can streamline processes and improve efficiency. Collaborating with influencers can be an effective marketing strategy for dental practices. Preparing for the future of AI in dentistry involves staying updated on technological advancements and adapting to new tools and systems. The emergence of mid-level dental providers can offer opportunities for expanded services and improved patient care. Building relationships with physicians and increasing referrals can help dental practices attract new patients. Creating a custom Tooth Fairy kit can be a unique and memorable gift for children losing their baby teeth. Chapters 00:00 - Introduction 02:07 - Crazy Ideas for Dental Practice Innovation 03:18 - Dwight's Idea: Dentistry as a Service 05:28 - Trey's Idea: Self-Service Dental Office 08:18 - Peter's Idea: Personalized Video Outreach 19:35 - Craig's Idea: Fixing the Issue of Consolidation 30:14 - Incentivization of the team for results 34:19 - Gamifying performance and tracking 38:28 - AI integration and automation 40:21 - Utilizing influencers for marketing 45:21 - Preparing for the future of AI in dentistry 47:26 - The emergence of mid-level dental providers 53:00 - Increasing referrals from physicians 57:47 - Creating a custom Tooth Fairy kit       REFERENCES Bulletproof Summit Bulletproof Dental Practice

Building trust, addressing conflicts, commitment to goals, culture of accountability, decentralization, motivation, and effective leadership are discussed in this podcast about team dynamics in dental practices.

The Bulletproof Dental Podcast Episode 335 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak   GUESTS:  Leo and Zach   TAKEAWAYS Dentists should have a basic understanding of SEO to avoid being taken advantage of by outside vendors. User experience is a crucial factor in SEO, and dentists should focus on providing a seamless and valuable experience for their website visitors. AI is becoming increasingly important in SEO, but it should be used as a tool for curation rather than a replacement for human input. Dentists should be cautious of plagiarized content and strive to create original and valuable content for their websites. User experience and authority are crucial for generating valuable content. Strategic marketing, which considers the synergy between different elements, is more effective than tactical marketing. The four metrics to measure marketing success are: more eyes on the content, click-through rate, conversion rate, and sales. Mastering topical relevance is essential for improving search engine rankings and attracting the right audience. Simplifying the decision-making process and utilizing tools like Google Analytics and Search Console can lead to better marketing outcomes. SEO plays a significant role in the success of a dental practice. Empowering oneself with knowledge about SEO and digital marketing can lead to better decision-making and results.   CHAPTERS 00:00 - Introduction to SEO and its Importance   19:16 - User Experience as a Secret Weapon for SEO   25:45 - AI as a Key to Unlocking Search Engine Results   34:17 - Strategic Marketing vs Tactical Marketing   36:13 - The Four Metrics to Measure Marketing Success   37:12 - Mastering Topical Relevance   46:08 - The Importance of Google Analytics and Search Console   48:14 - The Impact of SEO on Business Success   49:09 - Empowering Yourself with Knowledge   REFERENCES Dental SEO Boost   Bulletproof Summit   Bulletproof Dental Practice

The Bulletproof Dental Practice Podcast Episode 334   HOSTS: Dr. Peter Boulden & Dr. Craig Spodak     TAKEAWAYS The dental industry is facing challenges such as a wage gap between dentists and hygienists, a changing market outlook, and the need to adapt to new technologies and consumer preferences.   Convenience, technology, and marketing play a crucial role in the success of dental practices, and the use of AI and automation can provide a competitive advantage.   The future of dentistry may involve a shift towards a hybrid model of acquisitions and de novos, with an emphasis on adding organizational value and creating a differentiated brand.   Partnerships can be beneficial if the right partner is chosen, but it is important to carefully consider the terms and goals of the partnership.   Job opportunities in dentistry exist, and dentists should consider their own goals and values when deciding on their career path.       REFERENCES Bulletproof Summit Bulletproof Dental Practice

The Bulletproof Dental Practice Podcast Episode 333 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak     TAKEAWAYS Recognize the difference between real goals and mere wishes by observing changes in physiology. Set specific and challenging goals to engage the brain's dopamine circuitry. Write down goals in your handwriting to activate ancestral neural pathways. Keep goals to yourself to avoid premature dopamine release and maintain motivation. Visualize both success and failure to increase the likelihood of goal achievement. Take advantage of peak motivation times, which occur 30 minutes, three hours, and 11 hours after waking. Set moderately challenging goals and break them into 12-week tranches for increased motivation and progress. Overcome procrastination by committing to five minutes of focused work on a task.       REFERENCES Bulletproof Summit   Bulletproof Dental Practice

The Bulletproof Dental Podcast Episode 332   HOSTS: Dr. Craig Spodak GUEST: Dr. Linda Edgar   KEY TAKEAWAYS Introduction Dr. Edgar’s journey to becoming the ADA President The role of the ADA ADA is focusing on improving connections, collaboration, and communication Forsyth Institute Merger What the ADA does for you including product testing, research, and insurance legislation MLR Legislation and the Non-Covered Services Bill Is there insurance and/or DSO influence on the ADA? The rising cost of attending Dental School Repayment loan programs Ambassador Program DSO Improvements Emphasis on wellness Webinars on-demand ADA’s response to COVID Craig’s feedback     REFERENCES American Dental Association Dr. Linda Edgar Bulletproof Mastermind  Bulletproof Summit  Mighty Networks: Bulletproof Dental Practice     TWEETABLES

The Bulletproof Dental Practice Podcast Episode 331 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUESTS: Dr. Trey Tippit & Dr. Dwight Peccora   TAKEAWAYS Introduction Bulletproof Summit is launched The learning and implementation of new skills Methods of deployment within each office Delegating from a position of knowledge Do you want to be important or do you want to be successful Strategy versus Operations Letting go of control creates opportunity for others Centralization of services Financial gains to splitting up your company Is a management company right for you? REFERENCES Bulletproof Summit 2024 Bulletproof Mastermind  Mighty Networks: Bulletproof Dental Practice   TWEETABLES Don't compare your chapter one with someone else's chapter 10 - Dr. Craig If you treat people as they currently are, you make them worse. If you treat people as they could be, you help them to become what they are capable of becoming - Dr. Craig