Success Strategies for Dental Practice Owners

In this podcast episode, host Stan Kinder talks with guest Dr. John Meis. Meis, a fourth-generation dentist, has a rich background in improving dental practice performance. With over three decades of experience in the field, Meis believes that the performance of dental practices can be significantly enhanced through the guidance of external mentors, Dental
Support Organizations (DSOs), and key principles. His perspective is shaped by his own journey of turning around a failing practice and expanding it to 13 locations, and his role in a large DSO where he helped grow the company from 50 to 120 locations. He emphasizes the importance of dentists wearing multiple hats, including that of a business manager and investor, and the value of working with coaches, mentors, and consultants to elevate practice performance.

Join Stan Kinder and Dr. John Meis on this episode of the Success Strategies for Dental Practice Owners podcast to learn more about how to elevate your practice to new heights.

Here is what to expect on this week’s
show:

•   The importance of a clear vision and a
values-based organization

•   Patient-centered care

•   External coaching and mentorship

•   The changing dynamics of practice sales

•   Patient flow optimization

Connect with Dr. John Meis:

https://www.linkedin.com/in/johnmeis/

Connect with Stan Kinder:

https://www.everythingdso.com/

Learn more about your ad choices. Visit megaphone.fm/adchoices

Dr. Nicole Mackie is a renowned prosthodontist based in Las Vegas who was introduced to the field of dentistry at a young age through her father’s influence. When it comes to establishing her own practice, Mackie credits her success to drawing insights from experts in various fields, developing a team that shares her core values, and consistently expanding her knowledge through mentorship and networking. Her unique approach, shaped by her father, uncle, and other mentors, involves a focus on building a team not solely based on experience, but on personality and disposition, followed by extensive training to ensure alignment with her practice’s core values. She also consistently stays abreast of technological advancements, always looking for ways to improve and expand her practice. For Mackie, humility, perseverance, and a commitment to growth are crucial for establishing a thriving practice.

Here’s what to expect this episode:

Seek expert advice, embrace new technology, and network with peers to enhance patient care and practice growth

Hiring based on personality and values leads to smoother onboarding and better fit within practice culture

Utilize direct-to-consumer marketing and maintain relationships with referring dentists for practice growth

Prioritize work-life balance for mental, physical, and emotional well-being to excel in the profession

Seek mentorship opportunities to enhance professional growth and make meaningful connections within the dental community

Connect with Nicole Mackie:

https://www.linkedin.com/in/nicole-mackie-dds-ms-facp-5055a043/

Connect with Stan Kinder:

https://www.everythingdso.com/

Learn more about your ad choices. Visit megaphone.fm/adchoices

“We need more of us out there because we want to share our experiences, our love for dentistry.” – William Balanoff

William Balanoff, a distinguished Northwestern University alumnus, successfully transitioned from clinical dentistry to business ownership, inspired by the legacy of GV Black and his extensive experiences in international trade and finance. He advocates for a holistic understanding of the business aspects of dentistry, encouraging practitioners to view their roles not only as clinical experts but also as entrepreneurs. By treating dental practice as a business and patients as customers, Balanoff believes dentists can achieve greater freedom and success in their careers. His ventures, such as Smile Perfected and Renew Dental Implants, illustrate his commitment to innovating within the field, with a strong focus on enhancing patient care through improved communication and business strategies.

Key Takeaways:

• Dentists should explore entrepreneurial opportunities, innovate systems, and improve patient care while maintaining profitability.
• Understanding the business aspect of owning a dental practice is crucial for success.
• Young dentists should prioritize paying off debt to achieve financial freedom and enjoy their profession.
• Transitioning from a practicing dentist to a business owner requires developing business skills alongside clinical expertise.
• Renew Dental Implants operates on an affiliate model, providing efficient implant surgeries and patient influx through marketing efforts.
• Renew specializes in providing implant-supported dentures for patients seeking quick surgical solutions.
• Planning for transitions and exits in dental practices is essential for maintaining value and growth.

Connect with William Balanoff:
https://www.linkedin.com/in/william-balanoff-3b9a2718/
https://smileperfected.com/dr-william-balanoff/

Connect with Stan Kinder:
https://www.everythingdso.com/
https://www.linkedin.com/in/stan-kinder-386ba0158/

Learn more about your ad choices. Visit megaphone.fm/adchoices

“Our doctors go through an extensive course load of understanding inclusion and how to integrate that into their clinical care.” – Rachel Karfeld

Rachel Karfeld, a pivotal figure at the Dawson Academy, spearheads the Complete Care program alongside Larry Gazardo, blending business insight with clinical prowess in dentistry. With her unique perspective as both a leader and a dental patient, Rachel champions the significance of fostering robust relationships between patients and dentists. Her vision is to cultivate dentists into proficient CEOs by focusing on system implementation and leadership development, ensuring the integration of Dawson’s clinical philosophy into everyday practice. Under Rachel’s guidance, the program has been instrumental in transforming dental practices by improving efficiency, increasing production, and enhancing patient interactions, ultimately elevating the quality of care provided.

Key Takeaways:

• The Dawson Academy Complete Care Program integrates clinical philosophy into day-to-day operations of dental practices.
• Effective financial management in dental practices is crucial for sustainable growth by managing overhead costs and production write-offs.
• Expanding team-based courses in dental practices to include hygiene care for all team members can improve overall efficiency and patient care.
• The Complete Care Dentistry Program led by Rachel Karfeld and Larry Gazardo merges business principles with clinical knowledge to transform dentists into CEOs.
• Nurturing long-term relationships with patients and implementing strategies like targeted marketing can improve patient retention rates in dental practices.
• The Complete Care Program focuses on system implementation, leadership development, and aligning the entire dental team with the clinical care approach.

Connect with Rachel Karfeld:
https://thedawsonacademy.com/live-course/complete-care-consulting/https://www.linkedin.com/in/rachel-karfeld-mba-72573b12/

Connect with Stan Kinder:
https://www.everythingdso.com/
https://www.linkedin.com/in/stan-kinder-386ba0158/

Learn more about your ad choices. Visit megaphone.fm/adchoices

Naomi Goldman, a seasoned aesthetic dentist with a deep familial connection to the profession, has become a prominent figure in the field through her innovative approach to patient loyalty and practice growth. Having taken over her father’s practice in 2014, Naomi has successfully transitioned the practice to a fee-for-service model, emphasizing the importance of building strong patient relationships and offering exceptional customer service. She believes that creating a comfortable, spa-like environment and utilizing advanced technologies such as 3D scans and soft tissue lasers not only enhances patient experiences but also sets her practice apart from competitors. Through strategic marketing on Instagram and investing in her team, Naomi has doubled her patient base, illustrating her commitment to fostering a collaborative environment and ensuring sustained practice growth.

Here’s what to expect this episode:

·Transitioning from in-network insurance to fee-for-service requires focus on patient retention and technology investments.

·Building trust, offering customized experiences, and excellent customer service are key to retaining patients during the transition.

·Marketing on platforms like Instagram attracts cosmetic-focused patients and aids in the transition to fee-for-service model.

·Utilizing Instagram, thank you cards, and valuable information contributes significantly to practice growth.

·Elevating patient experience through consultations, new patient gifts, and comfort menus is crucial for setting the practice apart.

·Incorporating soft tissue laser applications during hygiene visits improves patient experience by reducing inflammation and bleeding.

·Investing in staff through bonuses, goal setting, and profit-sharing is essential for practice growth and success.

Connect with Naomi Goldman:

https://www.linkedin.com/in/naomi-goldman-5216018a/

Connect with Stan Kinder:

https://www.everythingdso.com/

Learn more about your ad choices. Visit megaphone.fm/adchoices

How can dentists who’ve sold their practice invest their earnings to create stable, long-term income without taking on excessive risk?

Host Stan Kinder welcomes investment advisor Julian Rubinstein, whose expertise lies in helping dentists turn the sale of their practice into long-term financial security. With a disciplined, low-volatility strategy aiming for 8% returns, Julian guides clients through smart investment planning, retirement readiness, and post-sale income generation—without requiring a minimum asset threshold. He shares actionable advice on choosing the right advisor, setting goals early, and redefining retirement as a time to enjoy life with purpose. Julian also offers insight into how understanding the strategies of dental industry buyers can benefit sellers in the long run. Whether you’re planning your exit or building a financial future beyond dentistry, this conversation delivers strategic insights with clarity and impact.

Here is what to expect on this week’s show:

•   Diversification for consistent returns

•   Permanent portfolio strategy

•   Weathering market downturns

•   Tax implications in retirement planning

•   The changing dynamics of the dental industry

Connect with Julian Rubinstein:

https://www.americanasset.com/team-member/julian-rubinstein

Learn more about your ad choices. Visit megaphone.fm/adchoices

Kartik Antani offers insightful perspectives on Dr. Partik Antoni’s journey in dentistry, emphasizing the significant influence of familial inspiration and strategic career choices. Acknowledging Dr. Antoni’s bold move from New Jersey to New Mexico, Kartik highlights the advantageous decision to acquire existing dental practices in underserved areas, which provided a robust foundation for growth. By leveraging established systems and engaging in partnerships with like-minded individuals, Dr. Antoni effectively navigated the complexities of expanding his practice, demonstrating astute business acumen. Kartik further underscores the importance of cultivating a strong company culture and hiring based on personality and capability, which play crucial roles in maintaining patient care quality and successfully scaling the practice.

Here’s what to expect this episode:

· Acquiring existing practices through acquisitions allowed for immediate cash flow and utilization of existing systems.

· Strategic approach to each acquisition such as with a retiring dentist, associate-driven practice, and hygienist-owned practice.

· Transitioning from chairside practice to focusing on managing the business is crucial for scaling up dental practices.

· Identifying undervalued distressed dental practices can lead to profitability by implementing operational improvements.

· Establishing a positive culture within dental organizations is important for team alignment and patient experience.

· Hiring like-minded individuals and setting clear standards for accountability is crucial for the success of dental practices.

· Human capital is a limiting factor in the success of dental practices, emphasizing the importance of experienced personnel and external
help.

Connect with Kartik Antani:

https://www.linkedin.com/in/kartikantani/

Connect with Stan Kinder:

https://www.everythingdso.com/

Learn more about your ad choices. Visit megaphone.fm/adchoices

Daniel Bobrow, founder of AIM Dental Marketing, brings over 35 years of expertise in dental marketing, evolving from traditional methods like direct mail to a comprehensive array of digital services. He champions the importance of accountability and transparency, urging dental practices to hold their marketing firms accountable through robust reporting mechanisms. Bobrow believes in personalized patient acquisition strategies, emphasizing rapport, empathy, and effective listening to convert calls into appointments. Balancing traditional and digital marketing, he underscores the need for consistency in messaging and the significance of patient lifetime value in guiding strategic investments and enhancing long-term profitability.

Here’s what to expect this episode:

• Dental practices should focus on converting inquiries into appointments effectively for a high return on their marketing investment.
• Understanding patient lifetime value, return on investment, and acquisition costs is crucial in dental marketing programs.

• Data-driven analysis and strategic planning are key to maximizing the effectiveness of dental marketing programs.

• Patient retention is essential for long-term success in dental practices, along with attracting new patients.

• Balancing newer digital marketing strategies with traditional methods can lead to successful marketing outcomes.

• Successful practices invest a significant portion of their revenue into marketing for growth goals.

Connect with Daniel Bobrow:

https://www.linkedin.com/in/dannybobrow/

Connect with Stan Kinder:

https://www.everythingdso.com/

Learn more about your ad choices. Visit megaphone.fm/adchoices

Mike Neal is a pioneering advocate for innovative hiring practices in the healthcare sector, particularly dentistry. He believes that traditional hiring processes, which rely heavily on resumes, are outdated and unreliable, often missing crucial information about candidates. Neal champions an automated hiring system that prioritizes candidates’ mindset, personality, and aptitude, thereby ensuring that team members are genuinely interested and well-suited for the job. Through his platform, Build My Team, he revolutionizes the hiring process by using assessments to match candidates’ strengths and talents with job roles, providing high performing practices with a more efficient and effective approach to hiring.

Here’s what to expect this episode:

• Build My Team uses assessments to match applicants’ strengths and talents with roles, improving hiring efficiency.
• Automated system filters out applicants unwilling to complete assessments, ensuring serious candidates progress.
• Candidate Assessment Process evaluates mindset and speed of learning for healthcare practice fit.
• Mike Neal emphasizes evaluating candidates’ ability to follow processes and procedures within dental practices.
• Automated process selects finalist candidates for dental practices based on video interviews to assess communication skills.
• Hiring algorithm is customized for each position, matching candidates with roles based on specific success factors.

• Candidate screening process focuses on optimizing rejection process and tailoring algorithm to each job role.

Connect with Mike Neal

https://www.linkedin.com/in/dr-michael-neal/

Connect with Stan Kinder:

https://www.everythingdso.com/

Learn more about your ad choices. Visit megaphone.fm/adchoices

Cris Duval, a seasoned dental hygienist with over 24 years of experience, has become a passionate advocate for addressing the hygienist shortage in dentistry. Duval believes this shortage, exacerbated by the pandemic, has led to widespread burnout and disillusionment among dental hygienists, prompting many to consider alternative careers. She emphasizes the necessity of regaining impact and influence with patients, advocating for a broader understanding of the hygienist’s role in patient care beyond routine cleanings. Through her innovative lifeguard approach, which merges science-based protocols and technology, Duval aims to enhance patient care and wellbeing, encouraging others to adopt this method and transform their practices.

Here’s what to expect this episode:

• The lifeguard approach focuses on guiding and guarding patient health and wellness through science-based protocols and quality questions.

• Hygienists can experience moral injury and burnout when unable to provide care according to their values and patients’ needs.
• Shifting to life-saving screenings such as oral cancer, blood pressure, and pathogen screenings can significantly improve patient outcomes and redefine the purpose of a hygiene visit.
• There is a crisis in dentistry post-pandemic with a shortage of hygienists and understaffing in hygiene departments, potentially linked to moral injury factors.
• Compensating hygienists based on patient outcomes and production value can align incentives with high-quality care and improve job
  satisfaction.
• Outsourcing podcast production allows for focus on hosting
  and content creation, demonstrating transparency and collaboration.

Connect with Cris Duval:

https://www.linkedin.com/in/priscilla-cris-duval-413a787/

Connect with Stan Kinder:

https://www.everythingdso.com/

Learn more about your ad choices. Visit megaphone.fm/adchoices