The Dentalpreneur Podcast w/ Dr. Mark Costes

On today's episode, we are joined by a remarkable entrepreneur who has reshaped the dental landscape with her unwavering dedication to helping dental practices thrive in the realm of PPO negotiations. Shelley DeGroff, the founder and CEO of PPO Advisors, has an inspiring journey that stems from her experience in a dental office, and she recognized a pressing need for fair deals from PPOs. Shelley's story is one of unexpected entrepreneurship. As an office manager for a private dental practice, she dived into the intricate world of PPO contracts, gaining an in-depth understanding of the dynamics that can significantly impact practice revenues. When she successfully negotiated better terms for her own office, revenues soared. Recognizing the widespread demand for her expertise, Shelley founded PPO Advisors in 2013, marking the beginning of her mission to empower dental practices with the tools to negotiate better PPO contracts. Hailing from a rural background in Nebraska, Shelley's journey has been marked by her unwavering work ethic and an integrity-based approach to business. Her commitment to leveling the playing field for her clients, allowing them to work smarter and amplify profits, showcases her dedication to driving positive change within the dental industry. During our conversation with Shelley, we delve into intriguing topics that shed light on the crucial aspects of PPO negotiations. We explore the concept of umbrella networks and whether PPO Advisors accepts them, shedding light on the complexities that dental practices navigate. Fee schedules and time frames also come under discussion, providing valuable insights into the meticulous work that goes into optimizing PPO contracts. One of the highlights of our conversation is Shelley's wisdom on reducing dependence on PPOs and identifying the thresholds for maintaining a healthy balance. Her expertise empowers dental practitioners to make informed decisions that align with their growth strategies. As a pioneering force in the industry, Shelley has nurtured PPO Advisors into a success that is propelled by a dedicated team. We gain insights into the growth journey of her team, the turnaround time to onboard clients, and what truly sets PPO Advisors apart from competitors. To connect with Shelley DeGroff and explore how PPO Advisors can transform your dental practice's PPO negotiations, visit https://ppoadvisors.com/. EPISODE RESOURCES ppoadvisors.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we delve into the recent significant surge in interest rates and its repercussions on various sectors, notably dentistry. We discuss how, in times of low-interest rates pre-COVID and post-pandemic, private equity groups capitalized by leveraging businesses with debt. This strategy fueled the quick aggregation of dental practices. However, the current upswing in interest rates has put enterprises, particularly those supported by private equity, in a challenging position. Many of these firms are now re-evaluating their previous aggressive acquisition methods, shifting their focus from a pure aggregation model to an operation-centric model. This transition is evident in the increasing workout activities. Furthermore, we highlight a case of a private equity-backed regional DSO on the East Coast, where the lender's reduction in the debt to EBITDA multiple translated to a $30 million decrease in available debt funding. As the market evolves, our conversation underscores the importance for sellers and equity rollers to vet their buyers meticulously. This includes understanding the buyer's capital structure, debt setup, and operational history to safeguard the equity aspect of any transaction. Finally, we emphasize the need to distinguish between mere aggregators and genuine operators in the industry. The "Scaling from Clinician to CEO" event will take place in Scottsdale at the Phoenician from October 11th-13th. Designed for those with one to five dental practices, the event provides insights on transitioning from a clinical role to a CEO position. Topics will address systematization, legal challenges, attracting associates, and appropriate bank funding. Prioritizing hands-on learning and actionable insights, the sessions are tailored for those aiming to expand and navigate the intricacies of dental business growth. Registration is capped at 150 participants to ensure an intimate learning environment. The emphasis is on the rising challenges of running small dental businesses and the advantages of evolving into a group practice model. Group Practice Accelerator Podcast: https://app.resonaterecordings.com/hosting/group-practice-accelerator Our SFC2CEO Event Link: https://www.polarishealthcarepartners.com/scaling-from-clinician-to-ceo To Download the SFC2CEO agenda: https://14514098.fs1.hubspotusercontent-na1.net/hubfs/14514098/C2C_Agenda_08292023.pdf EPISODE RESOURCES https://www.polarishealthcarepartners.com/scaling-from-clinician-to-ceo https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we delve deep into the intricacies of the dental industry, exploring the challenges and opportunities that lie therein. Guiding us through this journey is Justin Ditkofsky, the visionary force behind WeCare Practice Advisors. As we navigate this conversation, we'll uncover the pivotal role WeCare plays in sculpting the success of dental businesses across North America. Justin Ditkofsky, the Founder and CEO of WeCare Practice Advisors. Over the past decade, Justin has woven an intricate tapestry of experience, not just in dentistry, but also in realms of private equity, venture capital, technology, and real estate development. It's this rich mosaic of knowledge that has shaped him into a beacon for dental professionals, both in Canada and the United States. Whether it's a startup or an established dental practice looking to expand, relocate, or even navigate a lease negotiation, Justin's insights have become invaluable. Beyond the world of dentistry, his influence is felt in the tech sector as an Advisor to Rhenti and in the myriad real estate development projects he passionately engages with. In our riveting dialogue, Justin paints a vivid picture of what an ideal partnership between WeCare and dental professionals looks like. He helps us understand the symphony of factors that dictate when and how a dental entity should engage with WeCare, ensuring an orchestra of success. We traverse the broad avenues of the commercial real estate landscape, understanding its nuances, its quirks, and its profound impact on businesses, especially in the dental domain. Justin then brings us into the protective embrace of WeCare's in-house legal sanctum, revealing how their legal maestros work tirelessly to ensure the best outcomes for clients. And as we journey across the nation, we learn about WeCare's expansive footprint, a mark of trust and excellence that stretches across all 50 states. We also delve into the unique opportunities that beckon dental practice owners, especially as they stand on the cusp of pivotal moments, like the end of a lease. Connect with the experts at WeCare. Begin your journey today by visiting drwecare.com. EPISODE RESOURCES drwecare.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's surgical Saturday episode, we're diving deep into the fascinating world of Platelet-Rich Fibrin (PRF) and membranes, joined by two exceptional surgical experts, Dr. Dan Briskey and Dr. Taher Dhoon. These surgical gurus aren't just talking theory; they're sharing real-world insights that will change the way you think about dental procedures. Here's a sneak peek of what you can expect: Discover how PRF can supercharge the healing process, accelerate wound closure, and significantly reduce infections. It's like magic happening right in your patient's mouth. Uncover the powerful synergy between PRF and membranes, especially in complex procedures like guided bone regeneration (GBR). PRF provides the growth factors, while membranes offer crucial structural support. Find out why patient selection is crucial. Not every patient is a perfect fit for PRF, and you'll want to know who can benefit most from this cutting-edge technique. Get a behind-the-scenes look at the technical process of using PRF. From drawing blood to centrifuging and applying it in surgery, you'll gain valuable insights into this innovative procedure. Learn how PRF can increase your success rates, lower your costs, and speed up the healing process. It's a game-changer that's making waves in the world of dentistry. Discover the best ways to incorporate PRF into your practice and get comfortable with drawing blood. Whether it's through courses or collaboration, you'll learn how to master this transformative technique. This episode is a treasure trove of knowledge for dental professionals looking to take their skills to the next level. Don't miss out on the chance to explore the incredible world of PRF and membranes with these experts. Stay tuned for more advanced surgical insights in future episodes! EPISODE RESOURCES https://www.coloradosurgicalinstitute.com/courses https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Dr. Mark Costes engages in a captivating conversation with Dr. Sarah Blair, a visionary dentist and the co-founder of Indie Practices. Get ready to delve into the world of effective leadership and practice management. Dr. Sarah Blair's journey from veterinary school to dentistry is both inspiring and intriguing. Her passion for business ownership led her to venture into the dental field with a unique perspective. As a co-founder of Indie Practices, she has become a staunch advocate of transformative leadership to drive practice growth. Dr. Blair's story unfolds with her decision to purchase a struggling small dental practice, a move that transformed it into a thriving venture generating $1 million in annual revenue within just four years. Her passion for clinical dentistry converged with a deep-rooted interest in practice management, eventually leading her to embrace a pivotal role in shaping Indie Practices. Indie Practices, founded in 2018, stands as a testament to Dr. Blair's commitment to coaching and empowering independent practice owners. Driven by her collaboration with a leadership coach from the education sector, the practice focuses on cultivating quantifiable practice management skills through transformational leadership. The conversation delves into the core of Indie Practices' model, emphasizing the profound impact of transformational leadership on dental practices and beyond. Dr. Blair sheds light on common themes she coaches her members through, including the intricacies of Human Resources. Dr. Blair's life outside dentistry takes center stage as she shares her adventurous experience of living on a sailboat and navigating the challenges of life at sea. She recounts the scariest situation she and her husband encountered during their sailing journey. Listeners gain insights into Dr. Blair's daily routine and client interactions. Her commitment to her role as a coach and consultant shines through, revealing her dedication to fostering positive change in the lives of practice owners. Dr. Blair introduces the concept of measuring backward from one's desired point of fulfillment, emphasizing the significance of finding happiness at every step of the journey. The episode wraps up with a discussion on work-life balance and the profound impact that effective leadership can have on both professional endeavors and personal well-being. To connect with Dr. Sarah Blair and learn more about Indie Practices, visit indiepractices.com. EPISODE RESOURCES indiepractices.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we have a conversation with Tracy Gunn, a seasoned entrepreneur and the founder of Get Exitable, a company dedicated to assisting business owners in achieving their desired exits from their businesses. Tracy's personal journey, which saw her transform her "unsellable" restaurant into an attractive acquisition within a remarkable three months, forms the backdrop of her mission. With a focus on guiding business owners who are looking to exit due to various reasons, Tracy helps her clients devise tailored exit strategies that not only make their businesses sellable but also transferable and highly appealing to potential buyers. Tracy's determination to help one million small business owners develop and implement effective exit strategies by 2028 is indeed commendable. During the interview, Tracy delves into her journey of selling her own restaurant and how that experience fueled her to establish "Get Exitable." She elaborates on the critical factors that contribute to a business's sellability, posing vital questions that business owners should consider. These include the ability to hand over the business to someone for an extended period without it crumbling, and evaluating the processes in place. Tracy shares valuable insights on avoiding premature or ineffective delegation, which is a common pitfall. She also addresses the issue of high failure rates among small businesses and low scaling rates, providing guidance on the importance of clarity in a business's purpose beyond the capability of the owner. Tracy's approach to working with entrepreneurs seeking to sell their businesses is methodical and thoughtful, commencing with goal identification. She walks us through the process of transforming an unsellable business into an attractive prospect for potential buyers, emphasizing the significance of creative financing in analyzing potential buyers. For more information and insights from Tracy, be sure to visit her website at getexitable.com. EPISODE RESOURCES getexitable.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Dr. Mark Costes engages in a captivating dialogue with the remarkable Stacy Tuschl, a trailblazer who embarked on her entrepreneurial journey at the tender age of 18. Starting with a business in her parents' backyard, Stacy transformed it into a multimillion-dollar enterprise that continues to flourish under her leadership. A bestselling author and founder of Well Oiled Operations, Stacy is dedicated to helping small business owners globally by establishing systems that foster growth through team accountability. Her expertise addresses the common challenge of CEOs becoming bottlenecks to business expansion due to time and energy limitations. Stacy's Well Oiled Operations podcast, with over 2.5 million downloads, features enlightening conversations with influential figures like Suze Orman. Delve into the interview to explore Stacy's evolution from her initial dance studio business to her current ventures. Discover her insights into project management software and how it aids delegation and prioritization. The transition from management to leadership is a key discussion, shedding light on the strategic shift that drives successful businesses. Stacy's recommendation of impactful books, including "Profit First" and "The One Thing," adds a valuable dimension to the conversation. Unveil Stacy's approach to addressing challenges by pinpointing the problem and then seeking knowledge to overcome it. The dialogue expands to encompass recruitment strategies and the art of retaining employees. Tune in to glean insights from a seasoned entrepreneur who was recognized as the 2019 Wisconsin Small Business Person of the Year by the United States Small Business Administration. For further exploration of Stacy Tuschl's wisdom and expertise, delve into the Well Oiled Operations podcast and connect with her on Instagram @StacyTuschl. If you're seeking guidance on streamlining your business operations and unlocking growth potential, Stacy's insights are a goldmine of knowledge. EPISODE RESOURCES https://stacytuschl.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Dr. Mark Costes engages in a conversation with Justin Strong, the visionary founder and CEO of Room 118, Inc., a cutting-edge digital marketing agency specializing in the dental realm. Justin Strong brings a wealth of experience to the table, having spent 25 years in various dynamic roles within technology companies, ranging from sales and marketing to product and operational management. As the brains behind Room 118, he's on a mission to transform dental marketing by leveraging the power of digital platforms. He's also the mastermind behind the Dental Digital Marketing Index, a comprehensive source of data that unravels the intricacies of marketing for dental practices. In this episode, get ready to delve into a range of captivating topics with Justin Strong. Discover the latest insights on emerging web searches that are shaping the landscape of specific clinical procedures. Unearth strategic gems tailored for both small, independent dental practices and larger operations, exploring ways to dominate local searches and secure prominent positions on Google search results. Venture into the world of ad-words, re-marketing, and re-targeting as Justin breaks down the essence of these concepts for dental practice success. The age-old question of whether to incorporate videos on your dental practice website finds a definitive answer, with Justin offering expert advice on leveraging videos to establish a strong online presence. As the conversation unfolds, you'll gain valuable insights into the expected returns from marketing efforts and where those returns manifest within your dental practice. Justin Strong's depth of knowledge and innovative strategies are bound to enlighten and inspire your approach to dental marketing. Tune in to uncover the digital marketing secrets that can elevate your dental practice's online visibility, engagement, and ultimately, your bottom line. And after the episode, make sure to connect with Justin Strong and explore the transformative potential of Room 118, Inc. EPISODE RESOURCES www.room-118.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

Dr. George J Schmidt, an influential figure in dentistry, shares his journey into the dental field later in life. Discusses financial challenges for dental school graduates, benefits of a diverse background, and the challenges faced by private operators. Talks about future plans, practice ownership, and reaching out to the AGD for more information.

Dr. Taher Dhoon, a Master of Dental Implants, and Dr. Daniel Briskie, a surgical expert, explore the world of surgical dentistry. They discuss the benefits of becoming a Super GP in dentistry, the importance of leadership in creating a profitable practice, strategies for taking risks and gaining experience, necessary skills for Super GPs including IV sedation and bone grafting, and upcoming training opportunities at the Colorado Surgical Institute. They also touch on the benefits of hiring a personal assistant for dentists.