Shared Practices | Your Dental Roadmap through Practice Ownership

Dr. Mohiuddin Ifaz, a dentist who upgraded a 40-year-old, paper-based practice into a thriving digital hub, shares his journey of transformation. He discusses the initial challenges of modernizing operations and the swift adoption of technology. The conversation also delves into strategic insights for navigating practice acquisition and patient engagement. Dr. Ifaz emphasizes the significance of mentorship in scaling practices and maintaining a clear vision, all while managing the intricacies of transitioning to a fee-for-service model.

In Part 2 of our deep dive with Gregorio, we lay out the step-by-step blueprint to scale his $1.9M, 7-op practice into a $3.5M mega-group practice—all while reducing his clinical days to just two per week. George walks through the critical decisions Gregorio must make, including expanding the facility, hiring the right associate, and implementing an office manager to streamline operations. They also discuss profit-sharing vs. equity, how to finance the expansion without disrupting cash flow, and why a strategic hiring approach will be the key to long-term success.If you haven’t listened to Part 1, go back and start there for context!

George Hariri chats with Gregorio, a dentist navigating the transition from associate to owner of a booming $2M practice. They dissect the balancing act of scaling the business while aiming for a two-day clinical work week. Insights on clinic dynamics, including an implant and endo-heavy mix, emerge. The duo confronts bottlenecks in hygiene and the high-stakes question of dropping insurance for growth. Listeners will discover strategies to enhance operations, tackle patient flow, and maintain profitability amidst ambitious expansion plans.

Dr. Jesspreet Parmar, a skilled prosthodontist, shares how he transformed his solo practice into a $2.4 million fee-for-service group. He discusses the challenges he faced during practice acquisition and the importance of hygiene-led growth. Jesspreet delves into the complexities of leadership and high-quality service as essential for patient retention. He emphasizes the impact of toxic work environments and decision-making during ownership transitions. The role of coaching in practice ownership shines through as a key factor in achieving substantial growth.

Scott Leune, a dentist and expert on practice sales, shares key insights into selling dental practices to Dental Service Organizations (DSOs). He discusses when it makes financial sense to sell and outlines potential pitfalls to avoid. The conversation addresses emotional and financial challenges, highlighting the importance of understanding post-sale implications. Additionally, Scott delves into wealth management strategies post-sale, emphasizing careful planning and disciplined investments for long-term stability.

This episode unveils the launch of the Ask George Mastermind, a unique opportunity for growth-minded dentists to collaborate, learn, and gain direct access to Dr. George Hariri's expertise. Discover how to tackle challenges like associate mentorship, expansion decisions, and marketing strategies while learning from real-world scenarios. Don't miss out—visit mastermind.sharedpractices.com for more information.

Dive into the intriguing journey of a military dentist evolving into a thriving multi-doctor practice owner. Discover the essential strategies for navigating the transition from solo to multi-doctor setups, especially in rural areas. Gain insights on overcoming growth challenges, ensuring operational efficiency, and the importance of systematic processes. The conversation highlights the balance between professional aspirations and personal life, emphasizing the value of support systems and effective leadership during this transformational journey.

The conversation centers around the pivotal choice between starting a new dental practice or acquiring an established one. Key insights highlight the pros and cons of each path, focusing on personal ownership goals and financial implications. Visibility and location emerge as crucial factors affecting patient attraction and retention. The discussion also touches on scaling practices, emphasizing strategic decisions to navigate growth in the dental industry. Listeners gain valuable perspectives to help shape their own practice ownership journey.

In this episode of the Shared Practices Podcast, Dr. Richard Low and Caitlin Embree discuss the importance of checklists for creating self-managed dental teams. They cover how clearly defined roles, structured checklists, and accountability empower team members to work efficiently, reduce micromanagement, and prepare practices for sustainable growth.

In this episode of the Shared Practices Podcast, Dr. Richard Low is joined by longtime co-host Dr. George Hariri to explore the metrics-driven growth pathways for dental practices. Building on prior discussions, they revisit the foundational concept of practice "avatars" and unveil an updated framework shaped by insights from Dr. Scott Leune. This new approach offers dentists greater clarity and tailored options for growth at every stage of their career.Richard and George discuss the transitions between solo, productive solo, smart solo, and group practices, while diving into the critical metrics that drive growth, such as patient base size, hygiene columns, and retention rates. They address the challenges of balancing clinical and business-focused goals, and reveal strategies to navigate key transitions—like adding a second doctor—without common pitfalls. Additionally, they introduce new growth paths, including the "smart solo" and "pseudo specialist" avatars, designed to meet a range of professional priorities, from scaling income to optimizing operations.Packed with actionable insights, this episode serves as a roadmap for dentists looking to scale intelligently and achieve sustainable success. Whether you're building your first million-dollar practice or expanding into a profitable group, this conversation is sure to spark ideas and illuminate the path forward.