THE ULTIMATE DENTAL PODCAST

In this episode of The Ultimate Dental Podcast, Dr. David Moffet interviews Dr. Christopher Phelps, a dentist and a serial dental entrepreneur.. In this conversation, Dr. David Moffet interviews Dr. Chris Phelps about his experiences in dentistry and his innovative ideas. Dr. Phelps shares his journey of selling and reevaluating his dental practices, as well as his focus on the business side of dentistry. He discusses the importance of commitment and consistency in achieving success and shares how he applied these principles to improve his practices. Dr. Phelps also talks about the creation of dental membership plans and how they can benefit both patients and practices. He discusses his experiences with dental membership plans, with call centres, and coaching in dental practices. Overall, the interview highlights the importance of understanding human behaviour and using it to create a better dental experience for patients. Dr. Phelps talks about the importance of research and data in making decisions. He also discusses his coaching business and the value of learning from experienced dentists. The conversation also highlights and emphasises the importance of consistent and effective communication in dental practices. If you want your practice to be at the forefront of dentistry in 2024 and beyond, don’t miss this episode! What you will learn: [01:20] Introduction and Background [03:43] Selling and Reevaluating Dental Practices [10:24] The Power of Commitment and Consistency [20:53] Creating Dental Membership Plans [26:25] Implementing Membership Plans in Different Markets [29:40] The Importance of Team Buy-In and Patient Health [35:02] Improving Phone Call Handling with Call Centers [37:50] Accelerating Success with Coaching in Dental Practices [46:24] The Power of Research and Data in Dental Decision-Making [51:16] The Importance of Effective Communication in Dental Practices Takeaways Commitment and consistency are key principles in achieving success in dentistry. Understanding human behaviour and using it to create a better dental experience can lead to improved patient outcomes. Dental membership plans can be an effective way to attract and retain patients while providing them with affordable dental care. Innovation and thinking outside the box can lead to new opportunities and growth in the dental industry. Dental membership plans can provide affordable dental care for patients who can't afford traditional insurance. Call centres can help dental practices handle a large volume of phone calls and improve appointment scheduling and conversion rates. Effective coaching can help dentists avoid common pitfalls and accelerate their success. Research and data should guide decision-making in dental practices. Consistent and effective communication is crucial for success in dental practices. Sound Bites: "Could I do more with the two offices and revenue, profit, free time, right? All the metrics that matter, so to speak." "One of Cialdini's six principles of persuasion, as we call it, really was at the root cause of those behavioural issues that we spoke of." "It's the principles called consistency, which we call the commitment principle." "The membership plan just slots straight in there." "I found out the answer was my team were not able to answer 254 marketing based new patient phone calls every month."

Dr. Richard Schlossberg is a retired dentist with 47 years of experience in running a successful fee-for-service practice in Baltimore Maryland. In this podcast Richard offers advice for dentists starting their careers, sharing his journey from graduation, through practice ownership, and right up to what he’s doing now in retirement with the University of Maryland. He began his career as a practicing dentist in the US Navy, which provided him with valuable experience, confidence, and leadership skills. After leaving the Navy, he worked as an associate in a practice before starting his own practice. Richard emphasizes the importance of having the proper advisors, such as financial advisors, accountants, and lawyers, when starting a practice. In this conversation, Richard Schlossberg and Dr. David Moffet discuss the importance of communication and building relationships with patients in dentistry. They emphasize the need to focus on the patient as the centre of attention and showing genuine interest in their patients’ lives. They also highlight the significance of punctuality and respect for patient's time. Richard shares his experience of mentoring dental students and advising them on their career choices. They also discuss the importance of transparency and honesty in buying and selling dental practices. If you want your practice to be at the forefront of dentistry in 2024 and beyond, don’t miss this episode! What you will learn: [01:20] Introduction and Background [02:36] Starting in the US Navy [04:41] Working as an Associate and Starting a Practice [07:30] Building a Team and Creating a Positive Work Culture [11:05] The Importance of Advisors and Proper Planning [14:33] Maintaining Long-Term Relationships with Patients [18:51] Communication and Patient Care [21:41] The Changing Landscape of Dentistry [25:55] Building Relationships and Loyalty [28:55] Putting the Patient First: The Importance of Communication and Building Relationships [31:32] The Value of Punctuality and Respect in Dentistry [36:24] Transparency and Honesty in Buying and Selling Dental Practices [44:38] Mentoring Dental Students: Providing Guidance for the Future Takeaways:- Starting as an associate in a practice can provide valuable experience and confidence before starting your own practice. Having the proper advisors, such as financial advisors and lawyers, is crucial when starting a practice. Communication with patients is key to building long-term relationships and maintaining a successful practice. Building a loyal team and creating a positive work culture can contribute to the success of a practice. The landscape of dentistry has changed with the rise of dental service organizations and insurance, making it more challenging for dentists to start their own practices. Always prioritize the patient and show genuine interest in their lives. Punctuality and respect for patients' time are crucial. Transparency and honesty are essential in buying and selling dental practices. Mentoring dental students and providing guidance on career choices is valuable. Listen and Watch here: YouTube: Spotify: Facebook: Apple: Sound Bites:- "I made a very intelligent decision by doing it when I found that when I left the two years in Navy, I was really ready to go on to a possible private practice." "Make sure that you have the proper advisors going into the associateship of that practice." "I had so much confidence in myself and what I did in that practice for the five years and the following of patients. I had no problem because I had been thinking about it for a while if that happened." "The patient is the centre of focus when they're there. They are the centre of focus." "You're not just our dentists, you're our friends."

In this episode of The Ultimate Dental Podcast, Dr. David Moffet interviews Kelly O'Brien a leading dental compliance consultant from Manchester in England. In this interview, Kelly O'Brien discusses the increasing importance of dental compliance and the role it plays in ensuring the safety and well-being of patients. She emphasises the need for dental practices to have good structure and protocols in place, as well as the importance of staff training and following through with all compliance requirements. Kelly also highlights common areas where practices often fall short, including areas of infection control, equipment maintenance, and also background checks on employees. Kelly stresses the significance of proper surgery design and layout to ensure smooth instrument flow and compliance. Overall, Kelly's passion for dental compliance shines through as she helps today’s leading dental practices navigate the complex world of regulations and to create a safe environments for both their patients and their staff. If you want your practice to be at the forefront of dentistry in 2024 and beyond, don’t miss this episode! What you will learn: [01:20] Introduction and Background of Kelly O'Brien [02:46] The Role of Dental Compliance and Kelly's for It [04:27] The Challenges and Importance of Compliance in Dental Practices [08:47] Common Areas Where Dental Practices Fall Short in Compliance [09:58] The Impact of Cutting Corners in Compliance [11:57] The Consequences of Dangerous Compliance Practices [15:51] The Importance of Proper Surgery Design for Compliance [19:24] The Benefits of Addressing Compliance Issues from the Start [26:28] The Role of Dental Compliance Consultants in Supporting Practices [37:51] The Difference Between Older and Newer Dental Practices in Terms of Compliance [41:53] Kelly's Experience as a Compliance Expert and the Continual Need for Compliance Takeaways Dental compliance is essential for ensuring patient safety and the smooth operation of dental practices. Practices should have good structure and protocols in place, and staff should be trained and follow through with compliance requirements. Common areas where practices often fall short include infection control, equipment maintenance, and background checks on employees. Proper surgery design and layout are crucial for instrument flow and compliance. Dental compliance consultants can provide guidance and support to help practices meet compliance standards. Listen and Watch here: Youtube: Facebook: Apple: Sound Bites:- "Once compliance is in place, the whole team, the whole practice,everything runs that much smoother." "The little things tend to lead to the big things that get overlooked." "Cutting corners in compliance can have dangerous consequences for patients."

In this episode of The Ultimate Dental Podcast, Dr. David Moffet interviews Stephen Parker, owner and founder of the Profitable Dentist magazine, a magazine and online publication dedicated to thew ongoing success of privately owned dental offices. In this interview Stephen Parker discusses the changing landscape of dentistry and the challenges faced by dentists in today's market. He highlights the rise of DSOs (Dental Service Organizations) and the impact they have on private practice owners. In this interview, Parker emphasizes the importance of dentists focusing on their strengths and finding unique ways to differentiate themselves from corporate dentistry. He also discusses the options available for retiring dentists, including selling to a DSO or joining a doctor-owned DSO. Also in this conversation, Parker and Dr. David Moffet discuss the impact of insurance on dental practices and the benefits of transitioning away from insurance-based models. They also explore the role of AI in dentistry and how it can improve efficiency and standardization. Parker also shares insights on building a profitable dental practice and the importance of finding a business model that aligns with personal preferences. They also touch on the value of personal connections in dentistry. If you want your practice to be at the forefront of dentistry in 2024 and beyond, don’t miss this episode! What you will learn: [01:20] Introduction and Background [07:53] Challenges Faced by Dentists in Private Practice [13:04] Differentiating from Corporate Dentistry [15:42] Options for Retiring Dentists [22:51] The Impact of Changing Demographics on the Dental Market [28:46] Valuing Dental Practices Based on EBITDA [34:49] The Financial Challenges of Retirement in Dentistry [45:27] The Role of AI in Dentistry: Efficiency and Standardization [50:08] Finding the Right Business Model for Long-Term Success [58:58] The Value of Personal Connections in Dentistry Takeaways:- The dental industry has seen significant changes in recent years,with the rise of DSOs and increased competition for private practice owners. Dentists need to focus on their strengths and find ways to differentiate themselves from corporate dentistry. Retiring dentists have the option to sell to a DSO or join a doctor- owned DSO. Valuing a dental practice is now based on EBITDA (earnings before interest, taxes, depreciation, and amortization), which has led to higher valuations. Many dentists are unable to retire comfortably due to a lack of financial planning and saving throughout their careers. Transitioning away from insurance-based models can lead to increased profitability and increased patient satisfaction. AI has the potential to improve efficiency and standardisation in dental practices. Finding a business model that aligns with personal preferences is key to long-term success. Personal connections and individual expertise are still essential in dentistry. Sound Bites "Dentistry used to be a mom and pop industry, but that has changed with the rise of DSOs and increased competition." "Private practice owners should focus on what they can do that DSOs can't such as personalised patient care and specialised treatments." "The retirement options for dentists now includes selling to a DSO or joining a doctor-owned DSO." "She was making $200,000 more profit annually." "If you're losing, you're just making bigger losses." "You won't lose 100% of your patients when you stop taking insurance."

In this episode of The Ultimate Dental Podcast, Dr. David Moffet interviews Dr. Howard Farran, the owner and founder of Dentaltown, an interactive online healthcare community that works to connect dentists to their peers, dental service providers and manufacturers. In this interview, Dr. Farran, discusses the future of dentistry and the impact of AI on the dental industry. He shares his experiences with retiring from practicing dentistry and the subsequent development of Dentaltown AI, an AI-powered platform that provides instant answers and resources for dentists. Dr. Farran believes that AI will revolutionise dentistry and make consultants more effective. He also emphasizes the importance of staying intellectually stimulated and finding purpose in retirement. In this conversation, Dr. Moffet and Howard discuss various topics related to dentistry, including • The importance of staying active and keeping the mind stimulated • The unique aspects of dentistry as a business • The challenges and rewards of clinical dentistry • The role of trust in dentistry, • the impact of DSOs on the industry • the importance of financial planning and reducing debt and • the significance of customer service and building relationships with patients. If you want your practice to be at the forefront of dentistry in 2024 and beyond, don’t miss this episode! What you will learn: [01:20] Introduction to Dr. Howard Farran and Dentaltown [04:40] The Future of Dentistry: AI and Dentaltown [09:35] The Role of Consultants in the AI Era [12:30] Finding Purpose in Retirement [20:03] The Benefits of Exercise for Hand Health [31:04] Staying Active and Stimulating the Mind [36:43] The Role of Trust in Dentistry [39:49] The Impact of DSOs on the Dental Industry [49:07] Financial Planning and Reducing Debt [59:49] The Significance of Customer Service and Building Relationships Takeaways AI, specifically Dentaltown AI, will revolutionise dentistry by providing instant answers and resources for dentists. Consultants will still be valuable in implementing AI solutions and providing personalised guidance for dental practices. Staying intellectually stimulated and finding purpose in retirement is important for overall well-being. Exercise, such as hanging on a bar, can help improve hand health and reduce arthritis symptoms. Staying active and keeping the mind stimulated is important for dentists, even after retirement. Dentistry is a unique business that allows for flexibility in working hours and the ability to wind back one's practice. The dramas of being a practice owner can be challenging, but many dentists miss the social camaraderie and the shared vision of working with a team. Trust is a crucial aspect of dentistry, and building strong relationships with patients is essential. DSOs have both advantages and disadvantages, and competition in the industry can lead to better services and options for patients. Financial planning, reducing debt, and investing in dividend stocks can provide a path to retirement and financial security for dentists. Providing excellent customer service and focusing on building relationships with patients can lead to long-term success in dentistry. Sound Bites "AI is going to be bigger than the internet revolution." "AI is not going to get rid of consultants, it's going to make them more efficient." "AI is going to make 10% of the people so damn efficient that the other 90% per industry sector is not going to be able to compete with them." "Dentistry is a unique business because you can wind it back." "I miss the patients, but sometimes I don't miss the drama of being a practice owner."

In this episode of The Ultimate Dental Podcast, Dr. David Moffet interviews Jayne Bandy, who is Australia’s #1 Dental Front office Phone Skills Trainer and Coach.Jayne Bandy is the owner and founder of Dental Phone Excellence and Call Tracking Excellence, and she works exclusively helping dental practice front office staff convert more phone calls into appointments, and reduce cancellations, and helps them improve patient communications.Jayne focuses on three areas: converting new patients to appointments, handling cancellation calls effectively, and improving patient retention. She emphasises the importance o fphone skills and the impact these skills have on the success of all dental practices.Jayne believes that recording and analysing phone calls increases accountability amongst the dental team and improves their performance. Bandy also discusses the significance of creating a positive patient experience on the phone and the role of online bookings in dental practices. In this interview, Dr. David Moffet and Jayne Bandy discuss the importance of training dental receptionists to provide excellent customer service over the phone. They emphasize the need for receptionists to have all the skills needed to wow callers and make them feel heard and valued.Jayne also discusses the importance of investing in the training and development of dental team members, as they are every practice biggest asset. Jayne shares her experience as an educator in the dental field and how she helps practices improve their phone skills and scheduling. She also touches on the fear o fan empty appointment book and the importance of nurturing and supporting dental team members.If you want your dental practice to be at the first choice in your location for dentistry in 2024 and beyond, don’t miss this episode!

In this episode, Dr. David Moffet interviews Chris Barrow, a practice management guru, about the state of dental practice in the UK. They discuss the challenges and opportunities in the industry, including increased operating costs, recruitment and retention issues, and the impact of technology. Despite the challenges, Barrow remains optimistic about the future of dentistry, citing demographics, a wide range of treatment options, and the use of digital technology as reasons for optimism. The conversation explores the future of AI in dentistry and its impact on the dental industry. The speakers discuss the fear and resistance towards AI replacing human jobs, but also acknowledge the inevitability of technological advancements. They highlight the potential for AI to reduce the need for human resources and the importance of maintaining a balance between technology and personal relationships in dental practices. The conversation also touches on the changing landscape of dental practice ownership, with an increase in female dentists and a shift towards smaller independent practices. The speakers emphasize the significance of providing excellent customer service and the role of leadership in dental businesses.