The Dentalpreneur Podcast w/ Dr. Mark Costes

On today's episode, we continue with Brandon Moncrief with their discussion on dental practice sales, focusing on the financial intricacies of selling to DSOs (Dental Support Organizations) and private equity. They explore key concepts such as recapitalization cycles, different equity structures like joint venture and holding company models, and how they impact a seller's cash flow and control over their business. Brandon explains the importance of understanding EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) manipulation by buyers and how it affects valuation. He emphasizes creating competitive bidding environments to maximize practice value and protect sellers from undervalued offers. This episode provides detailed insight into how dental professionals can navigate complex financial decisions when selling their practice. EPISODE RESOURCES www.dentaltransitions.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we have the first of 2-parts with Brandon Moncrief, a seasoned expert in the dental industry with 20 years of experience as a banker, broker, and sell-side advisor. Brandon explains the current landscape of dental practice sales, focusing on the growing trend of younger dentists selling their practices to DSOs (Dental Support Organizations) and private equity. He highlights how consolidation is shaping the industry, with valuations and interest rates playing a crucial role. Brandon also discusses how practice size, EBITA (Earnings Before Interest, Taxes, and Amortization), and revenue affect whether a practice is sold to a private buyer or a DSO. He provides valuable insights into the financial and structural differences between traditional doctor-to-doctor sales and DSO transactions, emphasizing the importance of timing and financial strategy for practice owners. EPISODE RESOURCES www.dentaltransitions.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we sit down with Dr. Quinn Smith, a multi-doctor practice owner and co-founder of Smile Warranty. Dr. Smith shares his journey from growing up on a family farm in Idaho to becoming a successful dentist in Texas. They discuss Dr. Smith's entrepreneurial spirit, the rapid growth of his practice, and how his company, Smile Warranty, is filling a gap in the dental industry by offering a unique six-year warranty on dental work. Tune in to hear valuable insights on practice management, patient care, and the importance of innovation in dentistry. EPISODE RESOURCES Mysmilewarranty.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

Vivek Kinra, a serial dental entrepreneur and founder of Verrific, shares his insightful journey toward modernizing dental insurance verification through AI and crowdsourcing. He discusses the hurdles faced in PPO fee negotiations and emphasizes the need for innovation in dental practices. The conversation explores the emotional landscape of business growth, the importance of community in finding fulfillment, and the critical role of data accuracy in enhancing operational efficiency. Tune in for a blend of entrepreneurial wisdom and practical solutions!

On today's second part of this engaging two-part episode, we continue our in-depth conversation with Dr. Paul Goodman, also known as Dr. Nacho. The discussion dives into some of the most pressing issues facing the dental profession today, starting with the ever-increasing cost of dental education and the staggering student loan debt that new graduates face. Dr. Goodman candidly shares his perspective, acknowledging that if he were faced with the current financial realities of dental school—potentially graduating with over $550,000 in debt—he might not choose to pursue dentistry again, unless he were specializing in a field with immediate high earning potential. The conversation also touches on the emotional and financial burden of student debt, emphasizing the importance of thoroughly understanding the financial implications and having a solid plan to manage the debt post-graduation. EPISODE RESOURCES https://www.dentalnachos.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's first part of a two-part episode, we have Dr. Paul Goodman, widely known as Dr. Nacho, for a lively and insightful conversation. Dr. Goodman is the founder of a vibrant online dental community and has been making significant strides in the dental world through his unique approach to education and mentorship. The episode kicks off with a lighthearted chat about their mutual love for good food and coffee, with Dr. Goodman reminiscing about past culinary adventures in Philadelphia. As the conversation progresses, Dr. Goodman shares details about his recent event, the Super Dentist Boost Camp, where he gathered dental professionals to focus on the core aspects of practice ownership, leadership, and efficiency. Dr. Goodman highlights the invaluable contribution of DSI coach Dr. Aaron Nicholas, who gave an impactful presentation on improving clinical efficiency—an area often overlooked in traditional dental training but crucial for success in practice. The two doctors delve into the challenges faced by new dentists, particularly the pressure to perform quickly and effectively in a real-world setting, and the importance of building a strong dental "core" that goes beyond clinical skills. Dr. Goodman also discusses his passion for supporting dental students and new dentists, emphasizing the importance of real-world education and mentorship in helping them navigate the often unpredictable world of dentistry. The episode is packed with practical advice, humorous anecdotes, and a genuine passion for improving the dental profession, making it a must-listen for anyone in the field. EPISODE RESOURCES https://www.dentalnachos.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Mark sits down with Ryan Miller, CEO and co-founder of Peerlogic, a company at the forefront of AI-powered solutions for dental practices. Ryan shares his journey into the dental industry, driven by a combination of his corporate development background and insights gained from his wife's experience in the field. They discuss Peerlogic's innovative AI assistant designed to enhance front office efficiency, boost patient engagement, and ultimately increase practice revenue. Ryan delves into how Aimee seamlessly integrates into dental practices, handling tasks such as analyzing patient calls, following up on missed opportunities, and even managing appointment scheduling—all with minimal human intervention. The conversation also touches on the broader implications of AI in the industry, the challenges of technology adoption in dentistry, and the potential future of AI in business. EPISODE RESOURCES https://www.peerlogic.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Dr. Mark Costes is interviewed by Wes Whitten of Neodent, where he shares his inspiring journey from overcoming academic challenges to becoming a successful dental entrepreneur. Mark opens up about his early struggles with learning and attention difficulties, which fueled his determination to succeed in dental school and beyond. He reflects on his initial goal of achieving financial success through multiple practice ownership, only to realize that true fulfillment required a more balanced approach to life. Mark discusses the development of his "Four Futures" framework, focusing on mind, meaning, muscle, and money, which has become a cornerstone of his coaching practice. He emphasizes the importance of daily habits, mindfulness, and personal development in achieving overall success, not just financial gains. Throughout the conversation, Mark underscores the value of having a clear "why" behind one's endeavors, sharing how this mindset shift led to the founding of Smile Outreach International, a nonprofit organization dedicated to providing dental care to underserved communities around the world. EPISODE RESOURCES https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Ashlee Hirschfeld hosts a lively discussion with Dr. Ben Kacos, founder of Freeport Dental Solutions and Chief Clinical Officer for Dental Success Partners. They dive into the topic of "How to Be Everyone's Favorite Dentist," sharing practical strategies that can be immediately implemented to improve patient relationships and satisfaction. Dr. Kacos emphasizes the importance of the new patient phone call as a critical step in building rapport and trust before patients even step into the office. He also discusses the power of active listening, understanding patient preferences, and tailoring treatment plans to meet individual needs. The conversation highlights the value of asking the right questions, offering monthly payment plans, and the significance of providing patients with clear, tailored choices rather than overwhelming them with options. As they wrap up, Ashlee and Dr. Kacos touch on upcoming webinars, including a session on thriving during a recession and tips on team retreats. Dr. Kacos shares a discount code for an upcoming DSI event in Dallas, encouraging listeners to invest in continuous learning and practice growth. EPISODE RESOURCES https://peakdentalresources.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we welcome three enthusiastic D4 dental students from Midwestern University: Christian Putegnat, Andy Palacios, and Sydnie Weis. They discuss their dental school experiences, future goals, and the challenges they face as they transition into the world of practice ownership. Christian shares his journey from mechanical engineering to dentistry, balancing his studies with family life, and his aspirations for practice ownership. Andy, with a strong foundation in faith, talks about his dream of opening a startup practice and his interest in surgery. Sydnie, who combines her love for art and dentistry, plans to own multiple practices and is focused on gaining experience in cosmetic procedures. The conversation delves into the importance of demographic selection for startups, the value of mentorship in associateships, and strategies for managing student loan debt. Dr. Costes offers invaluable advice, emphasizing the need for growth-minded communities and strategic planning for long-term success in dentistry. EPISODE RESOURCES https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast