Success Strategies for Dental Practice Owners

Why must a successful dental practice emphasize the value of diverse experiences through residency?

Jessica Pharar is a dedicated dentist in private practice in Las Vegas, who recognizes the unique dental needs of cancer patients and has launched a foundation focused on delivering specialized dental care to this vulnerable group. Drawing from her experience in oncology care, Jessica advocates for being prepared for unexpected cancer diagnoses and ensuring optimal success for patients transitioning to cancer treatment. She integrates cancer patients into her regular schedule, prioritizing timely care for those referred through the oncology system, while dedicating specific days to administrative tasks for her nonprofit foundation. Jessica collaborates with other dental providers to empower them to treat cancer patients, emphasizing community involvement and the strategic use of social media to build trust and attract patients, and strongly supports dental residencies to provide essential exposure, mentorship, and advanced skills.

Here’s what to expect this episode:

• Jessica Pharar integrates cancer patients into her regular practice schedule while dedicating specific days for nonprofit administration.
• She collaborates with other dental providers to empower them to treat cancer patients and expand specialized care beyond her own practice.
• Jessica emphasizes the importance of building reputation in the local community and leveraging social media for marketing in dental practice.
• She highlights the value of gaining diverse experiences through residency to enhance one’s skills and knowledge as a dentist.

  Connect with Jessica Pharar:

https://www.dentistsoflasvegas.com/about-us/our-team
https://www.linkedin.com/in/jessica-pharar-64220914/ 

Connect with Stan Kinder:

https://www.everythingdso.com/

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John Montoya, a dedicated dentist who graduated in 2001, brings extensive experience in managing multiple dental practices to the table. Initially establishing a successful practice in San Diego, Montoya later moved to Boulder, Colorado, where he significantly expanded his operations and integrated additional practices into his office. Through his journey, Montoya learned that rapid expansion without proper systems could lead to significant challenges, emphasizing the importance of managing overhead and leveraging economies of scale. His insights into the necessity of business acumen and best practices in managing multiple practices have led him to start a buyer’s group aimed at helping other private practices reduce costs, reflecting his commitment to both professional success and community support.

Here’s what to expect this episode:

• Building up practices before selling them is important for profitability
• Balancing dentistry with business management is challenging
•  Managing multiple practices requires equity partners and centralized staff
•  Negotiating better pricing with vendors through economies of scale is crucial
•  Participating in PPOs can be challenging due to the changing insurance landscape
• Utilizing AI to monitor inbound calls can improve patient interactions
• Training staff on specific systems and protocols is crucial for practice growth

Connect with John Montoya:

https://www.linkedin.com/in/john-montoya-90615918/

Connect with Stan Kinder:

https://www.everythingdso.com/

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John Montoya, a dedicated dentist who graduated in 2001, brings extensive experience in managing multiple dental practices to the table. Initially establishing a successful practice in San Diego, Montoya later moved to Boulder, Colorado, where he significantly expanded his operations and integrated additional practices into his office. Through his journey, Montoya learned that rapid expansion without proper systems could lead to significant challenges, emphasizing the importance of
managing overhead and leveraging economies of scale. His insights into the necessity of business acumen and best practices in managing multiple practices have led him to start a buyer’s group aimed at helping other private practices reduce costs, reflecting his commitment to both professional success and community support.

Here’s what to expect this episode:

• Collaboration, growth, and leadership are key strategies for dental practice owners according to Dr. Kevin Cramer.
• Creating a win-win-win situation where patients receive excellent care, the team is supported, and the business thrives is crucial for a sustainable practice model.
• Continuous learning, a growth mindset, and openness to change are essential for success in dentistry according to Dr. Kevin Cramer and Stan Kinder.
• Balancing chairside dentistry with business management, establishing systems and processes, and using effective marketing strategies are important for managing a dental business.
• Viewing oneself as an entrepreneur first in the field and aligning one’s career with personal strengths and preferences are emphasized by Kevin Kremer for success in dentistry.
• Succession planning is crucial for ensuring continued growth and value in dental practices according to Kevin Kremer.

Connect with Kevin Kremer:

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

Connect with Stan Kinder:

https://www.everythingdso.com/

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Jon Marashi, initially aspiring to be a professional skateboarder, discovered his passion in dentistry and has dedicated over 38 years to the field, particularly cosmetic dentistry. His perspective on cosmetic dentistry stems from his early fascination with smiles and their impact, igniting an interest in the field when he observed that straight teeth doesn’t necessarily mean a beautiful smile. This epiphany led him to delve deeper into cosmetic dentistry, emphasizing the importance of knowing the desired outcome, becoming an expert through continuous learning and repetition, and showcasing his commitment by teaching, writing articles, and engaging with manufacturers. Despite challenges in acquiring his first dental practice, Marashi’s persistence, trust in self, and continuous education led to the successful establishment of a practice in Orange County and cemented his position as an expert in the field.

Here’s what to expect this episode:

• Skateboarding and dentistry create a balance between structure and creativity for Doctor Marashi.

• Transforming a rundown dental office into a successful practice showcases Doctor Marashi’s ambition.

• Transition from clinician to entrepreneur is essential for success in dentistry.

• Passion for cosmetic dentistry fueled by early fascination with smiles.

• Early debt repayment is crucial for young dentists’ financial future.

• Financial strategies are vital for dentists to navigate the evolving industry landscape.

• Challenges faced by young dentists require strategic decision-making and education for success.

Connect with Dr. Jon Marashi:

https://drmarashi.com/

Connect with Stan Kinder:

https://www.everythingdso.com/

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How can dental practices strike the right balance between direct response marketing and long-term brand building to drive sustainable growth?

Bill Mulcahy, President of Sales and Marketing at Dental Revenue, sits with Stan Kinder to discuss the evolving world of dental marketing and how practices can strategically grow in a competitive landscape. Bill, who has been with Dental Revenue since 2010 and played a pivotal role in launching the company’s Performance Program, brings a wealth of experience from his background at major firms like GE Capital and Dominion Enterprises, as well as his work as a small business marketing consultant. Together, Stan and Bill delve into the importance of balancing direct response tactics with long-term brand building, tailoring each marketing effort to the unique goals of a dental practice. They emphasize the need for measuring outcomes through return on investment and understanding the lifetime value of patients. Bill shares practical guidance on building a strong online presence, utilizing real patient testimonials, and showcasing successful cases to build credibility and trust. He also advises dentists to take a phased approach to their marketing strategy to prevent burnout and ensure sustained results. The conversation offers valuable insights for any dental professional looking to modernize their marketing, attract new patients, and position their practice for long-term success.

Here’s what to expect this episode:

• Balancing Strategies: Discover the delicate balance between direct response and brand building tailored to dental practices’ unique goals and lifecycle stages.

• Effective Measurement: Gain insights into measuring marketing success through ROI, understanding patient lifetime value, and utilizing key performance indicators.

• Adapting to Dynamics: Understand the evolving landscape of patient acquisition, incorporating online presence, patient testimonials, and real cases for credibility.

• Strategic Implementation: Learn practical steps for systematic marketing execution, avoiding overwhelm and achieving success in manageable stages.

• Trends and Best Practices: Get insights into current dental marketing trends, including the role of technology, leveraging patient testimonials, and optimizing online platforms for enhanced visibility.

Connect with Bill Mulcahy

https://www.linkedin.com/in/bill-mulcahy-3b952b6/

Connect with Stan Kinder:

https://www.everythingdso.com/

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What if the biggest threat to your dental practice isn’t your clinical skills—but what you don’t know about running a business?

Dr. Michael Goldberg shares his journey from accomplished clinician to influential practice management consultant. Drawing on his background in both dentistry and family business, Dr. Goldberg emphasizes that clinical skills alone aren’t enough for long-term success in the dental field. He discusses how he identified a major gap in traditional dental education—the lack of business training—and sought to fill it through his consulting firm, Practice Perfect Systems. The episode offers practical strategies for improving practice operations, staffing, and systems, while also addressing post-COVID industry challenges and the shifting role of female dentists in ownership. Dr. Goldberg also explores innovative methods for patient acquisition, such as collaborating with physicians, and provides a thoughtful analysis of the rising influence of Dental Support Organizations (DSOs). Listeners walk away with a compelling case for continuous learning and seeking expert guidance to thrive in today’s competitive dental landscape.

Here’s what to expect this episode:

•  Importance of Business Skills in Dentistry: Listeners will understand that clinical excellence alone doesn’t guarantee success in dentistry.
• Effective Practice Management Strategies: The podcast offers insights into practical strategies for improving dental practice management. 
• Adapting to Industry Changes and Challenges: The discussion sheds light on the evolving landscape of the dental industry, especially post-COVID-19. 
• Innovative Patient Acquisition and Collaboration Techniques: Listeners will learn about unique approaches to patient acquisition, such as building collaborative networks with physicians
• Understanding the Role of DSOs in Dentistry: The podcast provides valuable insights into Dental Support Organizations (DSOs) and their growing influence in the dental sector. 

Connect with Michael Goldberg:

https://www.kiddsteeth.com/meet-the-doctor

 Connect with Stan Kinder:

https://www.everythingdso.com/

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Colin Carr is a distinguished real estate expert specializing in healthcare-related properties, with a particular focus on the dental industry. He emphasizes the critical importance of having specialized real estate expertise in the healthcare sector, as he has seen providers incur significant financial losses due to lack of proper representation in commercial real estate transactions. Carr’s perspective is that knowledgeable advocacy during lease negotiations can save healthcare providers thousands of dollars per month and prevent unnecessary borrowing for build-out costs. To address this need, he founded a company that offers exclusive tenant and buyer representation for healthcare professionals, ensuring they are well-informed and not taken advantage of in real estate deals.

Here’s what to expect this episode:

• Having expert representation in real estate transactions is crucial to prevent financial burdens and unnecessary costs for healthcare providers.

• Negotiating key lease elements can help healthcare providers avoid financial losses and maximize savings through strategic decision-making.

• Real estate brokers play a vital role in commercial real estate deals, especially in healthcare transactions, by saving clients money and protecting their interests.

• Commercial real estate acquisitions require thorough due diligence, negotiation skills, and strategic decision-making to ensure competitive terms and options.

• Engaging in negotiations with multiple landlords simultaneously can lead to competitive deals, informed decision-making, and significant cost savings for potential tenants.

• Specialized legal and real estate expertise is essential in healthcare and commercial real estate transactions to protect client interests and maximize financial outcomes.

• By having a knowledgeable team in place, clients can effectively navigate the commercial real estate market and ensure favorable outcomes for their business ventures.

Connect with Colin Carr:

Colin Carr | Chief

Executive Officer | CARR

https://carr.us/

Connect with Stan Kinder:

https://www.everythingdso.com/

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Why is creativity important in marketing for dental clinics?

Hassan Mushaid, an accomplished professional with a rich background in dentistry and business, specializes in marketing strategies for dental practices. Mushaid started his journey as a dental nurse, pivoting over time into the business and marketing side of dentistry due to his strong tech and business skills. He believes in performance marketing strategies for dental practices, a view shaped by his diverse experience in roles such as practice manager, business development manager, and territory manager for Invisalign. Mushaid emphasizes the importance of data, effective communication, and education in marketing, and uses his understanding of investment strategies and risk appetites to create marketing strategies that resonate with patients and boost revenue for dental practices.

Here’s what to expect this episode:

Tracking lifetime value is crucial for dental practices to make informed decisions about marketing strategies and investments.

Creating a positive patient experience builds trust and leads to patients accepting more extensive treatments over time.

Video marketing is essential in dentistry to engage with digital learners and effectively communicate with patients.

Understanding the lifetime value of patients emphasizes the importance of long-term patient retention and satisfaction.

Dental software providers have an opportunity to offer insights and marketing functionality to support practices.

Creativity in marketing strategies is key for dental clinics to establish a strong brand identity and stand out in the industry.

Connect with Hassan Mushaid:

https://www.linkedin.com/in/hassanmushaid/?originalSubdomain=uk

https://hassanmushaid.com/the-creative-composite-2/

Connect with Stan Kinder:

https://www.everythingdso.com/

https://www.linkedin.com/in/stan-kinder-a3280a234/

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Why is diversifying investment strategies important for long-term prosperity in the dental practice world?

Curtis May, a seasoned financial advisor and principal at Practical Wealth Advisors, LLC, has a distinct perspective on financial literacy and investing, shaped by over three decades in the industry since 1985. May’s approach focuses on teaching fundamental financial principles rather than promoting specific products, emphasizing the importance of managing cash flow, prioritizing savings, and investing in cash-flowing assets. He encourages individuals to take control of their finances and explore opportunities like real estate and business investments to generate passive income and ensure long-term financial stability. Through his podcast, YouTube channel, and website, May challenges traditional financial advice and offers alternative strategies, advocating for continuous financial education and understanding the impact of lost opportunity costs.

Here’s what to expect this episode:

• Financial education is crucial in securing financial well-being and future prosperity.
• Investing in real assets that generate returns is more beneficial than tying up money in assets without tangible benefits.
• Building wealth through diverse investment strategies for financial freedom is key to long-term prosperity.
• Proper financial management, focusing on cash flow and minimizing losses, is essential for securing financial stability.
• Debt management should prioritize capital accumulation and cash flow over solely paying off debts.
• Seeking investment advice from unconventional sources like Rich Dad, White Coat Investor, and Dave Ramsey can provide valuable insights for wealth-building.
• Reading books on money is emphasized as a way to gain knowledge, improve financial literacy, and make sound financial decisions.

Connect with Curtis May:

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

https://alphaomegawealth.com/pennsylvania/curtis-may/

Connect with Stan Kinder:

https://www.everythingdso.com/

https://www.linkedin.com/in/stan-kinder-a3280a234/

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Stewart Townsend, with an extensive background in the software industry and notable tenures at companies like Oracle and Zendesk, brings a wealth of knowledge to the realm of differentiation and unique selling points. Leveraging his expertise in indirect sales and

channel partnerships, Townsend has transitioned from corporate roles to entrepreneurship, now consulting and building software companies. His unique perspective emphasizes the importance of conversations that assess an individual’s fit within an organization, aiming to enhance career progression and workplace satisfaction. Townsend’s insights extend to how dental practices communicate with customers, advocating for relationship-based approaches and innovative marketing strategies to drive business growth and patient retention.

Here’s what to expect this episode:

• Utilizing referrals and resellers can help dental practices bring in business without needing a large direct sales team.

• Partnerships with complementary services like beauty parlors or plastic surgeons can generate qualified referrals and create additional revenue streams for dental practices.

• Collaborating with independent registered nurses to offer Botox services in unused space within the practice can attract new patients and create an independent income stream.

• Personality-oriented hiring focusing on traits and culture fit over skills and experience can improve patient interactions and create a positive work environment.

• Investing in ongoing personal development and soft skills training can help create a strong team bond and set dental practices apart from competitors.

• Innovative marketing strategies focused on community engagement and education can attract new patients and foster patient retention and business growth.

Connect with Stewart Townsend:

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

https://stewarttownsend.com/

Connect with Stan Kinder:

https://www.everythingdso.com/

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