The Dentalpreneur Podcast w/ Dr. Mark Costes

On today's episode, we have the second part of Dr. Umang Patel's discussion, recorded at the Elite Practice Mastermind event for the Dental Success Institute (DSI) in Scottsdale, AZ, where he delves into the 'ascendant phase' of dental practice growth. Umang shares his expertise on the crucial steps for refining a practice strategically for enduring success. He uncovers the essence of achieving one's full potential in dentistry and the balance of professional dedication with personal life by scheduling non-negotiables. Join us for this insightful conclusion and discover how to enjoy the rewards of your hard work with Dr. Umang Patel. Tune in to this presentation and consider joining DSN and DSI for more empowering content. EPISODE RESOURCES https://www.truedentalsuccess.com/2024-dental-success-summit https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we delve into a mastermind event for Dental Success Institute held in Scottsdale, AZ. Our guest, Dr. Umang Patel, shares his insightful talk titled "Weaving Threads of Work & Joy," which dives into the art of balancing professional growth with personal fulfillment in dental practice. He reflects on the initial clinical stage where building patient trust and expertise may demand personal sacrifices. Then, Umang shifts the conversation to the entrepreneurial phase, highlighting the importance of mastering business operations for practice success. Tune in to this presentation and consider joining DSN and DSI for more empowering content. EPISODE RESOURCES https://www.truedentalsuccess.com/2024-dental-success-summit https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Dr. Mark Costes hosts Nathan Castiel, founder of Steed, a tax firm helping entrepreneurs navigate tax management and financial optimization. They discuss the complexities of tax strategies for business owners, including the impact of audits, the importance of keeping detailed records, and various tax-saving strategies. Nathan shares insights from his entrepreneurial journey and how Steed's platform and service aim to provide accessible financial expertise. For more detailed tax strategies and personalized financial advice, check out Steed Strategy. EPISODE RESOURCES steedstrategy.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Ryan Gross, CEO of CMOShare, shares his "Black Belt Marketing Strategy" for dental practices from the recent Dental Success Institute (DSI) mastermind in Scottsdale, AZ, focusing on the analytical prowess that distinguishes top-performing practices with low overhead. He delves into the key strategies these 'black belts' use to increase their active patient base and emphasizes the importance of monitoring call conversions to refine online marketing. Lastly, Ryan offers valuable tips on boosting brand awareness. For an in-depth exploration of these strategic insights, join the DSI mastermind or become a part of the Dental Success Network (DSN) to elevate your practice. EPISODE RESOURCES https://www.truedentalsuccess.com/2024-dental-success-summit https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Dr. Mark Costes focuses on tackling what he refers to as the "four horsemen" - the major challenges faced in the world of dentistry. He delves into understanding negativity bias and hedonic adaptation, and how these affect our information processing. Emphasizing the importance of personal well-being, he talks about integrating a daily gratitude and journaling routine, alongside the concept of time journaling for dentists. Mark also explores the distinction between high and low-value activities, guiding listeners on how to define and schedule non-negotiables in their professional lives. The episode culminates with insights into developing a personal ethos and core values, elements critical to both personal and professional success. Join us at the 2024 Dental Success Summit, an event not to be missed by dental professionals seeking growth and success in their careers! From April 11th to 13th, immerse yourself in transformative learning and networking at the luxurious La Cantera Resort & Spa in San Antonio, TX. Elevate your practice with insights from industry leaders, connect with like-minded professionals, and ignite your passion for dentistry. Reserve your spot now for an experience that will redefine your approach to dental success. Don't wait, register today and be a part of this extraordinary journey to excellence in dentistry! EPISODE RESOURCES https://www.truedentalsuccess.com/2024-dental-success-summit https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we're joined by Dr. Addison Killeen, an author and practitioner in the dental world. Dr. Killeen shares insights from his eighth book, focusing on dental supply and fee analysis. We delve into the importance of managing variable expenses in a dental practice, particularly dental supplies and lab fees, and how these can be controlled to enhance profitability. Dr. Killeen discusses tactics for setting budgets, ordering strategies, and choosing the right suppliers. He also touches on technology in dentistry, including radiology equipment and the impact of choosing the right tools on practice efficiency. The conversation is a treasure trove of practical advice for dental professionals looking to optimize their operations and financial health. For more detailed strategies and insights, be sure to check out the latest Dental Success Network (DSN) manual, "Dental Supply Ordering and Fee Analysis Manual". EPISODE RESOURCES https://dentalsuccessnetwork.com/manuals https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, continuing their insightful discussion in Part 2, Mark and Dr. Deren Flesher delve deeper into the business aspects of dental practices. They explore the process of preparing a practice for acquisition by DSOs and how to achieve maximum valuation in such models. The conversation extends to understanding the various types of DSO purchase structures, including joint ventures and hold co-situations. Dr. Flesher shares his extensive knowledge on recapitalization events and their potential impacts on practice sales. The episode provides valuable knowledge for dental practitioners looking to navigate the complex world of practice sales and acquisitions. If you missed part 1, go back and listen to it before tuning into this one! EPISODE RESOURCES https://royaloakfamilydental.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, this is the first part of this two-part series. Mark is joined by Dr. Deren Flesher, a new DSI black belt coach. The episode dives into the expertise of Dr. Flesher, who hails from Oklahoma City, Oklahoma. They focus on preparing businesses, including dental practices, for sale and maximizing their valuation. Topics covered include the intricacies of working with Dental Support Organizations (DSOs), strategies for increasing the value of a practice, and insights into the lifecycle of selling a dental practice. Mark and Dr. Flesher discuss the different scenarios that can influence the valuation multiples of a dental practice. Stay tuned for tomorrow's part 2 episode. EPISODE RESOURCES https://royaloakfamilydental.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Dr. Mark Costes (Dental Success Summit 2022) shares insights from the Dental Success Summit's Highlight Vault. The episode, titled "Harnessing Collective Wisdom," delves into the DSI Belt classification, a successful categorization strategy for dental practice growth. Mark discusses key factors in advanced operational flow, designing infrastructure for rapid growth, and the importance of measuring practice areas for continuous improvement. This episode is part of a series highlighting the impactful content and topics presented at Dental Success Summits, emphasizing the community's high-level practitioners and business sophistication. For more information on the upcoming summit in San Antonio, visit TrueDentalSuccess.com. For more information or to join the DSN or DSI community, visit Dental Success Network and True Dental Success. EPISODE RESOURCES https://www.truedentalsuccess.com/2024-dental-success-summit https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Dr. Mark Costes (Dental Success Summit 2022) shares a clip from the Dental Success Summit Highlight Reel Archives, focusing on "The Hierarchy of Competence." The segment, from a keynote in San Antonio, explores the Dunning-Kruger effect and the four stages of learning. Dr. Costes discusses the transition from unconscious incompetence to effortless mastery, delving into frameworks for personal and professional growth, including the Four Futures framework and the Elite Practice Blueprint. This episode highlights the types of concepts covered at the Dental Success Summits, which are known for their educational value and positive environment. For more information or to join the DSN or DSI community, visit Dental Success Network and True Dental Success. EPISODE RESOURCES https://www.truedentalsuccess.com/2024-dental-success-summit https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Dr. Mark Costes delves into the world of outsourced healthcare services with guest Garrett Robins, Senior Account Executive at Strike Healthcare. Garrett shares his journey from mass communication studies to leading teams in digital marketing and customer satisfaction. The focus is on the transformative role of outsourcing in dental practices, particularly in the realms of call answering and marketing integration. This insightful discussion reveals how services like StrikeHealthcare can enhance patient interaction and streamline practice operations. For more on how outsourcing can revolutionize your practice, check out Nexa's offerings. EPISODE RESOURCES https://www.nexa.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we have the 2nd part of the DSN webinar, continuing the discussion on "hiring without experience," focusing on effective strategies for onboarding and training new staff in dental practices. The episode delves into reactivation techniques, maintaining a productive schedule, setting clear expectations for new scheduling coordinators, and mastering patient interaction skills. Additionally, the importance of role-playing, understanding workplace vocabulary, attire dos and don'ts, and creating a feedback loop for performance assessment within the first 30 days are highlighted. This segment emphasizes the value of integrating new team members with no dental experience into a practice's culture and team. If you haven't listened to part 1 yet, go back and do so before you listen to this concluding episode. EPISODE RESOURCES https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode of the Dentalpreneur podcast, part of the DSN webinar series, features a valuable webinar turned podcast titled "Hiring Without Experience." Key speakers include DSI coach Dr. Summer Kassmel, Operations Manager Debbie Dodson, and Scheduling Coordinator and Trainer Delsey. They discuss onboarding a scheduling coordinator without experience, setting early expectations, effective training schedules, and managing team dynamics. The episode offers insights into the first 30 days of training and a re-activation program for patient flow. Stay tuned for Part 2 of this enlightening discussion where we delve deeper into hiring. EPISODE RESOURCES https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Dr. Mark Costes (Dental Success Summit 2022) explores various aspects crucial to the development and customization of an Operations Manual for dental practices. The discussion begins with an emphasis on the significance of an Operations Manual in the realm of dental practice management. Following this, Mark shares effective tactics for creating and tailoring these manuals, ensuring they meet the specific needs of each unique practice. A key focus is placed on involving team members in the authorship process, which not only fosters a sense of ownership but also significantly increases their buy-in. Markthen delves into the different components that make up an Operations Manual, highlighting the importance of organizing these elements in a logical manner for ease of use. He talks about the development of protocol sheets, accountability agreements, and performance review assessment sheets, and how these critical documents should be integrated into the operations manual. Another vital topic covered is the establishment of an overall meeting cadence and an organizational structure that can greatly enhance the orderliness and flow within a dental practice. For more information or to join the DSN or DSI community, visit Dental Success Network and True Dental Success. EPISODE RESOURCES https://www.truedentalsuccess.com/2024-dental-success-summit https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we continue our insightful journey with Mark Costes, live from the January 2024 Mastermind in Scottsdale, AZ. If you haven't heard Part 1, make sure to check it out to get the full picture. In Part 2, Mark shares six strategic approaches to making lasting impressions and becoming a likable figure, drawing on personal experiences that lend authenticity to his advice. He then provides a tactical guide on boosting charisma, essential for anyone looking to enhance their personal and professional influence. Mark doesn't stop there; he breaks down the components of the Wealth Formula, illustrating its vital role in the dental industry, and then caps it off with a comprehensive look at Lifetime Patient Value—a key factor for ensuring the long-term prosperity and resilience of your dental practice. For those who are just joining us, go back and listen to Part 1 to start the story right. For everyone else, let's jump back in! EPISODE RESOURCES https://www.truedentalsuccess.com/2024-dental-success-summit https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, join us as we delve into the profound concept of 'Value VS Reward' with Mark Costes at the January 2024 Mastermind in Scottsdale, AZ. In Part 1 of this series, Mark discusses the inherent value that you, as a leader, contribute to your dental practice and the wider community, challenging us to rethink how we perceive professional benefits. Rather than mere financial compensation, Mark encourages viewing these benefits as genuine rewards. He also introduces us to the UMS framework, a tool that helps us understand whether a team member's understanding, motivation, and skill set align with our business goals. Additionally, Mark distinguishes between the tangible real value and the more subjective perceived value, both of which play pivotal roles in the context of dental practice operations. Don't miss out on these insights—tune in now! And be sure to catch Part 2 for more in-depth discussion. EPISODE RESOURCES https://www.truedentalsuccess.com/2024-dental-success-summit https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we have the second of a 2-part series from the TPL (The Practice Launchpad) event in San Diego, CA. Vivek Kinra's (founder of PPO Profits) presentation, "Solving the PPO Riddle" is broken down and shared in this episode. If you missed Part 1, be sure to check it out for valuable insights. Today, we dive deeper into the critical importance of proper credentialing in dental practices and the significant financial benefits of securing better fee schedules. Vivek further discusses the flexibility and negotiation possibilities with PPO insurance, emphasizing that fee schedules are indeed negotiable. We continue exploring the High Tech Law's application in specialty procedures, allowing certain treatments to be performed at cash fees through specific patient agreements. The conversation also revisits the value of expert support in negotiating insurance contracts, such as that provided by PPO Profits, to achieve substantial returns. We further discuss the different aspects of insurance in dentistry, including the distinctions between credentialing, contracting, and fee negotiations, and their implications for practices. Lastly, we delve into the technicalities of National Provider Identifiers (NPIs) and the detailed process of credentialing for dentists and associates. EPISODE RESOURCES https://www.thepracticelaunchpad.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we have the first of a 2-part series from the TPL (The Practice Launchpad) event in San Diego, CA. Vivek Kinra's (founder of PPO Profits) presentation, "Solving the PPO Riddle" is broken down and shared in this episode. He brings invaluable insights into the Importance of Proper Credentialing and Fee Schedules in dental practices. We start off by discussing the critical role of negotiation in insurance contracts and how it can significantly impact your practice. Then, we delve into the utilization of the High Tech Law in specialty procedures, highlighting how it allows certain procedures to be performed at cash fees through specific patient agreements. Vivek also emphasizes the impact of having expert support, like PPO Profits, in insurance negotiations to achieve substantial returns. We also touch upon the various types of insurance plans in dentistry, the distinctions between credentialing, contracting, and fee negotiations, and their implications for dental practices. Lastly, we explore the technical aspects of National Provider Identifiers (NPIs), focusing on the difference between Type 1 and Type 2, and the detailed process of credentialing for dentists and associates. Don't forget to tune in tomorrow for Part 2 of this discussion! EPISODE RESOURCES https://www.thepracticelaunchpad.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Dr. Mark Costes (Dental Success Summit 2022) uses the film "Limitless" as an analogy to discuss achieving exceptional results in dental practice without relying on quick fixes like the fictional NZT pill. He emphasizes that there's no shortcut or magic pill for success, and the path to reaching one's full potential in business and life involves hard work, dedication, and the right strategies. Mark outlines four critical components necessary for dentists to achieve 'limitless' success in their practices: motivation, information and knowledge, framework and processes, and support and accountability. He suggests that most dental practice owners possess motivation but often lack in other areas like adequate knowledge, a structured framework, and a support system. Dr. Costes warns against common pitfalls dental practitioners face, such as hiring without fixing practice culture, investing in marketing without training staff, or pursuing advanced clinical training without addressing underlying cash flow issues. He emphasizes the importance of addressing the weakest links in their business operations, advocating for a strategic and systematic approach to improvement and growth in dental practices. For more information or to join the DSN or DSI community, visit Dental Success Network and True Dental Success. EPISODE RESOURCES https://www.truedentalsuccess.com/2024-dental-success-summit https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we have Chris Richard, Dr. Dan Briskie and Dr. Taher Dhoon from the Colorado Surgical Institute (CSI) for another exciting Surgical Saturday. The trio dives into full arch dental procedures and the patient's experience. Taher, Dan and Mark discuss integrating full arch dental procedures into private practice. The episode covers topics like marketing for such cases, the patient's lifecycle and experience, and the effective use of before-and-after visuals in practice. Insights on the patient's emotional journey, capturing key moments like the reveal, and strategies for managing patient expectations post-surgery are also shared. Don't miss out on the upcoming events from CSI. Explore and register here: https://www.coloradosurgicalinstitute.com/ EPISODE RESOURCES https://www.coloradosurgicalinstitute.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's part-2 episode, Dr. Andrew Vallo and Matt Brown continue their insightful discussion with host Mark. They delve into the complexities and stresses of managing multiple dental practices, with a particular focus on HR, cash flow, patient care, operations, and leadership. They also share their experiences and lessons learned since starting their own dental podcast. This episode provides valuable insights for dental professionals looking to expand their practices and enhance their leadership skills. Be sure to check out Part 1 if you haven't already. EPISODE RESOURCES https://www.dentalunfilteredpodcast.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we dive into the entrepreneurial journey of two dental industry professionals, Dr. Andrew Vallo and Matt Brown, co-hosts of the Dental Unfiltered podcast. Dr. Vallo, a rapid-growth expert and dental startup enthusiast, and Matt Brown, a military veteran and marketing strategist, share their unique perspectives on dental entrepreneurship and the integration of advanced clinical procedures into private practice. This insightful discussion covers the lifecycle of a full-arch implant patient, foundational strategies for implant programs, and team training for complex surgical and restorative procedures. Stay tuned for tomorrow's Part 2 conclusion. EPISODE RESOURCES https://www.dentalunfilteredpodcast.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Dr. Mark Costes (Dental Success Summit 2022) discusses the financial dynamics of dental practice ownership, focusing on the profitability contrasts between efficient and less efficient practices. He explores the benefits and challenges of owning a business, highlighting autonomy, tax benefits, and potential equity gains, alongside stresses like debt and HR complexities. Additionally, Mark addresses high stress and burnout rates in dentistry, advocating for community support and self-care practices to maintain mental and professional health. For more information or to join the DSN or DSI community, visit Dental Success Network and True Dental Success. EPISODE RESOURCES https://www.truedentalsuccess.com/2024-dental-success-summit https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we return for a riveting continuation of our discussion with Chris Sands and Brent Saunier from Profi2020. Focusing on the complex world of tax strategies and financial regulations, this episode offers deep insights into several critical aspects crucial for dental practices. The conversation explores cost segregation, a tax strategy that accelerates deductions and its profound impact on dental practices. We delve into the topic of bonus depreciation, discussing its implications for dental business owners as the benefits begin to reduce in the coming years. An important point of discussion is the rise in IRS underpayment penalty interest rates and how it influences dental practices, emphasizing the need for timely quarterly tax payments. This episode also examines the Secure Act 2.0, elaborating on its mandates for small businesses regarding retirement plans and what it means for dental practice owners. The importance of maintaining cash reserves in businesses is underscored, along with strategies for effective financial management in times of economic uncertainties. Valuable advice is provided on how to select the right CPA firm, focusing on aspects like communication, alignment of core values, and expertise in growth-oriented tax strategies. Additionally, tips are shared for dental practice owners on optimizing their investments and minimizing tax liabilities. Brent Saunier imparts his expertise on cost segregation, highlighting its potential to significantly impact tax savings by accelerating depreciation on various property components. Chris Sands brings to the fore critical changes in tax regulations, including the Secure Act 2.0, and discusses their effects on small business owners, especially those in the dental industry. For listeners who missed the discussion in Part 1 of this series, it's recommended to catch up with yesterday's episode. EPISODE RESOURCES www.profi2020.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we are joined by two exceptional guests, Brent Saunier and Chris Sands from Profi2020. They bring a wealth of knowledge in finance and accounting, particularly in the healthcare sector, providing us with invaluable insights into business operations, tax strategies, and financial management. Brent Saunier, with over two decades of experience in accounting and finance, shares his expertise in enhancing business profitability and valuation, offering comprehensive tax and operational advice, especially in the healthcare sector. Chris Sands, a partner at Strategic Growth and Profi2020, uses his experience in dental practice to provide strategic growth advice to healthcare professionals, focusing on fiscal responsibility and proactive tax planning. We dive into the complexities and key learnings from my recent two-year IRS audit, highlighting the importance of having a strong, competent team and exceptional record keeping. The discussion also explores how IRS audits are determined, focusing on statistical analysis and the need for comprehensive documentation. The significance of maintaining clean and organized business records to ensure favorable outcomes during audits is a critical point of discussion. Our conversation then shifts to various tax strategies and the importance of being wary of fraudulent promoters, especially concerning Employee Retention Credits (ERC) and other tax benefits. We delve into the IRS's "Dirty Dozen" list, highlighting common audit triggers in the dental industry and the importance of cautious navigation in tax planning. Additionally, we examine the rising popularity of cryptocurrency in business transactions and its potential audit risks. Don't miss out on the continuation of this engaging discussion. Tune in tomorrow for Part 2 of our episode with Brent Saunier and Chris Sands, where we delve deeper into the strategies for financial success in the healthcare sector. EPISODE RESOURCES www.profi2020.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we have Chris Richard, Dr. Dan Briskie and Dr. Taher Dhoon from the Colorado Surgical Institute (CSI) for another exciting Surgical Saturday. The trio dives into te full arch implant life cycle. Dr. Taher Dhoon, Dr. Dan Briskie, and Chris Richards have a discussion that focuses on the full arch implant patient's life cycle and how to integrate such advanced clinical procedures into a private practice. They cover starting an implant program from scratch, overcoming common challenges, and ensuring your team is well-trained for these high-end surgical and restorative procedures. The episode promises a wealth of knowledge for those looking to expand their clinical skills and services without external referrals. Don't miss out on the upcoming events from CSI. Explore and register here: https://www.coloradosurgicalinstitute.com/ EPISODE RESOURCES https://www.coloradosurgicalinstitute.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we welcome Dr. Ben Kacos from Shreveport, Louisiana. Dr. Kacos, a successful dental practitioner and a primary DSI Black Belt coach, discusses various topics, with a particular focus on marketing strategies in the context of a potential financial crunch and declining consumer confidence. Ben shares his perspective on balancing work and leisure, expressing a preference for short vacations due to his love for work and the structured environment of his office. He emphasizes the importance of being actively involved in his practice and the sense of satisfaction he derives from it. Ben also covers internal marketing strategies, where Dr. Kacos talks about his approach to fostering trust and positive impressions among patients within his dental practice. He mentions using TVs with USBs to display slideshows of various images in the treatment rooms and waiting area, showcasing the practice's services, team activities, and patient interactions. Furthermore, Dr. Kacos discusses external marketing strategies, including community involvement and non-traditional marketing efforts like sponsoring local sports teams and utilizing promotional materials to attract new patients. He explains the effectiveness of offering tangible rewards like Yeti coolers or battery banks to encourage referrals and reviews, and shares insights on sourcing affordable marketing materials from platforms like Alibaba. Finally, Dr. Kacos outlines his plans for 2024, focusing on a robust follow-up system using various communication methods and leveraging talent from the Philippines for customer service tasks. He stresses the value of integrating this system into his practice to enhance efficiency and patient engagement. EPISODE RESOURCES https://peakdentalresources.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we continue exploring Dr. Urda's journey in the world of dentistry. She sheds light on the unique challenges and strategies associated with urban dental practices and how she's navigated these waters with grace and expertise. The highlight of today's talk focuses on Dr. Urda's transition to a larger facility and her evolving role within DSI, where she embraces both leadership and coaching responsibilities. This segment is especially invaluable for anyone looking to scale their practice or take on a more significant role within their organization. Missed the first part of our talk with Dr. Monica Urda? Head back to Part 1 to hear the beginnings of her fascinating journey and insights into building a successful dental practice. EPISODE RESOURCES www.smilesciencechicago.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we are thrilled to welcome the incredibly talented Dr. Monica Urda. Born and raised in the northern suburbs of Chicago, Dr. Urda's impressive journey in dentistry started with her cum laude graduation from Loyola University, moving through Marquette School of Dentistry, and leading to her current position at Smile Science Chicago in Wicker Park. In Part 1 of this two-part series, Dr. Urda dives deep into the rapid growth of her practice. She shares her insights on the critical role of culture and systems in managing a busy dental practice efficiently. We also explore the nuances of building a strong team culture, a cornerstone of any thriving practice. Stay tuned as Dr. Urda unravels the secrets behind her successful career, offering valuable lessons for dental professionals at all stages. Don't forget to tune in tomorrow for Part 2, where we'll continue our conversation with Dr. Urda! EPISODE RESOURCES www.smilesciencechicago.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we have Dr. Desiree Yazden join us, a successful dentist and coach. Dr. Yazden shares her journey from working extensive hours to significantly reducing her workweek while doubling her revenue, a change prompted by the birth of her first child. She founded the Million Dollar Mentorship program in 2019, leveraging her experience to help other doctors achieve similar work-life balance. Dr. Yazden also discusses her passion for cosmetic dentistry and her practice in Newport Beach. She emphasizes the importance of marketing, particularly through social media, and how it transformed her practice, attracting patients and building a robust online following. Additionally, Dr. Yazden discusses the challenges of leadership and team management in her practice, highlighting the role of mindset and strategic planning in achieving professional success and personal fulfillment. Learn valuable insights on effective marketing, team management, and harnessing the power of social media to grow your practice. Don't miss out on these game-changing strategies – listen now and take the first step towards a more balanced and successful dental career! EPISODE RESOURCES http://Www.dryazdancoaching.com/waitlist https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Dr. Mark Costes addresses the main causes of career dissatisfaction in dentistry: chronic stress, isolation, hedonic adaptation, and negativity bias. He explains how the demanding nature of dentistry contributes to ongoing stress and isolates professionals. Discussing hedonic adaptation, he notes the tendency to overlook achievements in pursuit of new goals. Negativity bias, which gives more weight to negative experiences, also impacts dentists' mental well-being. Dr. Costes suggests six steps to combat these issues, including developing awareness, establishing a self-reflection routine, defining personal non-negotiables, and creating a personal ethos centered on integrity, discipline, and empathy. He emphasizes the importance of giving back to the community to find fulfillment and combat burnout, sharing his own experiences for illustration. The episode concludes with a call to action for dentists to develop and adhere to their personal core values. Join us at the 2024 Dental Success Summit, an event not to be missed by dental professionals seeking growth and success in their careers! From April 11th to 13th, immerse yourself in transformative learning and networking at the luxurious La Cantera Resort & Spa in San Antonio, TX. Elevate your practice with insights from industry leaders, connect with like-minded professionals, and ignite your passion for dentistry. Reserve your spot now for an experience that will redefine your approach to dental success. Don't wait, register today and be a part of this extraordinary journey to excellence in dentistry! EPISODE RESOURCES https://www.truedentalsuccess.com/2024-dental-success-summit https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's 2023 recap episode, Dr. Mark Costes and executive director Kay Lang discuss the significant growth and challenges faced by the organization, including the expansion of the Dental Success Network and the complexities of organizing live events amidst rising costs. A major focus is on their successful navigation through a demanding IRS audit for 2018 and 2019, underscoring the importance of a competent team and effective delegation. Dr. Costes shares his personal milestone of retiring from clinical dentistry to concentrate more on DSI and his ambition to expand the Smile Outreach International foundation. The episode reflects on the past year's achievements and sets a positive tone for future growth and community engagement. Thank you to our listeners and we look forward to bringing many more exciting episodes in 2024! EPISODE RESOURCES https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we dive into the second part of our engaging conversation with Dr. Addison Killeen. As a co-founder of the Dental Success Network (DSN), Dr. Killeen brings his extensive experience and insights into the world of dental practice management, systemization, and personal achievement. This episode is a continuation of our journey into optimizing dental practices, setting achievable goals, and exploring the dynamic world of dentistry. The discussion kicks off with an exploration of the growth and impact of DSN, highlighting its unique position in the dental community and its potential for further expansion. With over 1,430 active members, DSN has become a vibrant coaching community offering invaluable resources for dental professionals at all stages of their careers. Dr. Killeen and Dr. Costes delve into the challenges and opportunities facing dentists today, including financial management, reducing overhead, and improving profitability. They emphasize the importance of setting realistic goals and the power of incremental improvements in practice management. The conversation shifts to personal and professional development, with Dr. Killeen sharing his approach to setting annual goals, both for his dental practice and personal life. He discusses his passion for endurance sports and the concept of 'misogi,' a physical challenge that pushes personal limits. This segment provides a fascinating insight into balancing professional success with personal growth and fulfillment. For those who missed the first part of this enriching discussion, we encourage you to go back and listen to Part 1 of our podcast episode with Dr. Addison Killeen. It sets the stage for the insights and strategies shared in this second part, offering a comprehensive view of achieving success in both your professional and personal life. Don't miss out on the full experience of learning from one of the leading minds in dental practice management. EPISODE RESOURCES https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode of the Dentalpreneur Podcast, we're excited to have Dr. Addison Killeen, a co-founder of the Dental Success Network, a successful practice owner, and a black belt DSI coach. This episode promises to delve into a range of intriguing topics, from annual planning and setting wildly important goals to mastering time management and achieving remarkable growth in dental practice. Dr. Addison Killeen shares his experience of attending the annual DSN meeting in Prescott, Arizona, highlighting the importance of setting clear, attainable goals for the year ahead. He emphasizes the necessity for dental professionals to understand the primary objectives of their practice and to ensure their team is aligned with these goals. Dr. Killeen and Dr. Costas discuss the importance of avoiding the trap of taking on too many responsibilities and instead, focusing on delegating tasks effectively to empower team members. Dr. Killeen, with his diverse roles, provides insights into how he manages his time efficiently, balancing his work as a full-time dentist, an author, and an executive member of DSN. He stresses the importance of having disciplined routines, focusing on productive hours, and the significance of habit stacking for efficiency. Additionally, Dr. Killeen shares his journey from owning multiple practices to starting a new one, demonstrating how systematic approaches and team empowerment have led to the practice's significant growth. To all our listeners, be sure to tune in for tomorrow's Part 2 of this insightful episode with Dr. Addison Killeen. We'll continue to explore the strategies and habits that have led to his success in dentistry and beyond. Don't miss out on the valuable lessons and tips that can help you in your dental practice and professional journey. Stay tuned! EPISODE RESOURCES https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we continue our enlightening conversation with Kyle Francis, a financial and strategic expert in dental practice transitions. Kyle delves deeper into the evolving nature of the dental industry, particularly in the context of consolidation, and shares his insights on the recent trends and changes he's observed. Kyle Francis discusses the evolution of dental practice consolidation, highlighting the shift from the early days of control-oriented management to the current landscape where diverse deal structures and higher valuations are prevalent. He explains the impact of increased competition among DSOs and private equity, leading to more attractive offers for dental practices. Kyle also addresses the resilience of the dental industry, especially post-2020, and how it has continued to attract investor interest. He sheds light on the concept of leveraged buyouts and the opportunities for dental professionals to participate in the equity growth of their practices. Kyle emphasizes the importance of understanding the risks associated with different investment strategies and encourages dentists to make informed decisions about their future, whether early, mid, or late in their careers. For those who may have missed it, be sure to go back and listen to Part 1 of our discussion with Kyle Francis. Gain valuable insights into the world of dental practice transitions and understand the critical factors influencing the current consolidation wave in dentistry. Stay informed and make the best decisions for your practice and career trajectory. EPISODE RESOURCES professionaltransition.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, join us as we delve into the intricacies of dental practice transitions with Kyle Francis, a seasoned expert in the field. With an MBA in finance and strategy, Kyle has founded Professional Transition Strategies, guiding over $2 billion in dental practice deals. His remarkable journey from potential Goldman Sachs recruit to a pivotal figure in dental consolidations offers unique insights into the world of dental practice sales, mergers, and acquisitions. Kyle Francis, an MBA graduate specializing in finance and strategy, shares his insights into the dental industry, focusing on practice transitions, consolidations, and strategies for successful sales. We explore his journey from considering a career in institutional capital to finding his niche in the dental world. Kyle discusses his approach to valuations, his experiences with various types of deals, and the evolution of the dental industry in terms of practice valuation methods. He highlights the impact of industry consolidation on practice value and the changing landscape of dental practice sales. Don't miss out on the continuation of this insightful conversation in tomorrow's Part 2 episode, where we'll dive deeper into the complexities of dental practice transitions with Kyle Francis. Stay tuned to learn more about the strategic aspects of selling or merging your dental practice, and the future of dental practice ownership in an ever-evolving industry. EPISODE RESOURCES professionaltransition.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we delve into an insightful presentation by Stephen Abrams on disability insurance for medical professionals. Our comprehensive discussion covers the extensive services offered by Doctor of Disability Insurance, focusing on disability and life insurance, coupled with full financial planning, all specifically tailored to the needs of those in the medical field. We explore Stephen's personal involvement with the medical community, understanding their unique professional challenges to provide more effective service. The episode also highlights the crucial role of having a responsive and reliable external support team for medical practices, emphasizing the importance of quick communication and dependable assistance. Furthermore, we dissect the intricacies of disability insurance for dentists, underscoring the importance of comprehending policy details and ensuring adequate coverage. Stephen shares his own experiences with disability insurance, offering real-life insights into its significance and effectiveness in unforeseen circumstances. We also tackle the vital aspects of contract language and terms in disability insurance policies, focusing on the importance of policies being non-cancellable, guaranteed renewable, and including true own-occupation language. For more valuable insights and resources on launching and managing a successful medical practice, be sure to check out The Practice Launchpad. EPISODE RESOURCES https://www.thepracticelaunchpad.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Mark welcomes real estate expert Justin "JJ" Ditkofsky, founder of We Care Practice Advisors, back to the podcast. JJ shares his deep expertise in helping healthcare practitioners navigate commercial real estate challenges, from lease negotiations to strategic practice expansions. The conversation dives into critical topics like the common pitfalls dentists face with leases, the pros and cons of owning versus leasing, and how to structure deals that support both immediate needs and long-term growth. EPISODE RESOURCES drwecare.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we have insights from Debbie Dotson, the office manager behind some of the most successful dental practices led by Dr. Summer Kassmel in Colorado. Expect to dive deep into the flaws of typical dental onboarding, the importance of hiring aligned with core values, the necessity of a clear organizational chart, and the art of selecting a universal trainer. Debbie's 20-minute masterclass from our St. Louis mastermind meeting is packed with actionable advice, so grab your pen and paper—you won't want to miss a beat! Don't forget to join us at dentalsuccessnetwork.com to continue the conversation and access a plethora of resources tailored for dental success. EPISODE RESOURCES https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's part 2 episode, Mark is joined by Dr. Weston Spencer, an accomplished cosmetic dentist and dental partnership group co-founder. They discuss the future of dental practice consolidation and group partnerships. They explore the current state of industry consolidation, with estimates varying widely, and the projection that within the next seven to ten years, consolidation could reach around 50%. The conversation then turns to the ideal characteristics of a dental practice that would attract high valuations from DSOs and private equity firms. They emphasize the importance of a balanced and diversified provider base to mitigate "key man" risks and maintain practice value. Dr. Spencer shares insights into SPP Dental Partners, the group he co-founded. He outlines their approach, which differs from traditional DSO models by seeking minority partnerships with practices, thus preserving ownership and autonomy for practitioners. They discuss how their model allows for increased valuations and shared services, leading to practice growth. The model aims to bring together a strong EBITDA and provide access to the benefits of larger groups without sacrificing the independence of private practices. Towards the end, the dialogue covers practical aspects such as the processes of selling to a DSO, the benefits of joining a group like SPP, and the various investment opportunities for dentists within the industry. They also delve into the specifics of partnership agreements, emphasizing the importance of maintaining a say in the practice's future and the potential for financial gain through a well-strategized partnership. The conversation concludes with Dr. Spencer explaining how SPP Dental Partners supports dentists by offloading administrative tasks, enabling them to focus on clinical work. They also discuss how the partnership structure allows dentists to leverage the financial advantages of being part of a group while retaining control over their practice. EPISODE RESOURCES sppdentalpartners.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's 2-parter episode, Mark is joined by Dr. Weston Spencer, an accomplished cosmetic dentist and dental partnership group co-founder. Dr. Spencer discusses his journey in dentistry, influenced by his grandfather, and his focus on cosmetic procedures after being inspired by cosmetic dentists during his studies. He shares his growth strategy, emphasizing internal marketing and patient engagement to transition from single-tooth to comprehensive dentistry, which helped expand his practice from $500,000 to $2.5 million in revenue. Dr. Spencer also delves into practice management, discussing the delegation of administrative tasks to maintain a patient-centric focus. He highlights the importance of building a team culture and investing in staff to foster a positive and productive work environment. The discussion touches on his innovative dental partnership group, SPP Dental Partners, designed to preserve the autonomy of private practices while offering the benefits of group practice through shared back-office services and economies of scale. Lastly, Dr. Spencer discusses the growth and operational aspects of his own practice, including his expansion to a larger facility with multiple providers. He emphasizes the importance of having a good team and the ability to adapt and grow, both clinically and in terms of practice management, to prevent burnout and ensure the success of the practice. Join us tomorrow for the exciting conclusion to this interview with Dr. Weston Spencer. EPISODE RESOURCES sppdentalpartners.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Dr. Mark Costes is joined by Dr. Dan Briskie and Dr. Taher Dhoon from the Colorado Surgical Institute (CSI) for another exciting Surgical Saturday. The trio dives into advanced prosthetics & prosthetic conversions. In this episode, we delve into the intricate world of advanced prosthetics and prosthetic conversion, exploring various facets of this field. We discuss the traditional analog approach and examine the detailed steps involved in hybrid and removable prosthetics, particularly focusing on the restoration of implants. Additionally, we cover the digital workflow, highlighting how modern technology integrates into these processes. Don't miss out on the upcoming events from CSI. Explore and register here: https://www.coloradosurgicalinstitute.com EPISODE RESOURCES https://www.coloradosurgicalinstitute.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we have a special 2-part series featuring Kyle Francis, Matt Mulcock, Dr. Pamela Maragliano-Muniz and Mark, titled, "Industry Consolidation: Should you ride out the wave or sell your practice?" The episode primarily addressed four key themes in the dental industry. First, it discussed the value of dental practices and the impact of various factors like capacity and profitability on their valuation. The conversation then shifted to examining the influence of consolidation in the industry, particularly with the involvement of Dental Service Organizations (DSOs) and private equity. The third theme focused on the personal and emotional aspects of selling a dental practice, emphasizing the importance of aligning financial decisions with personal values and goals. Finally, the discussion explored various transaction styles, such as complete affiliation, joint ventures, and equity roles, and how these impact dentists differently based on their career stage and personal circumstances. The overarching narrative centered on the need for dentists to be informed and organized in their approach to practice valuation and sale, regardless of their stance on DSOs. Be sure to go back and listen to part 1 if you haven't already! EPISODE RESOURCES professionaltransition.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, we have a special 2-part series featuring Kyle Francis, Matt Mulcock, Dr. Pamela Maragliano-Muniz and Mark, titled, "Industry Consolidation: Should you ride out the wave or sell your practice?" The episode primarily delves into the trends of industry consolidation in dentistry, focusing on whether dental practice owners should sell their practices amidst this wave or continue independently. It emphasizes the importance of risk management and informed decision-making in this context, considering both financial implications and personal factors. Additionally, the discussion covers financial planning strategies, particularly concerning retirement, and evaluates the evolving nature and business models of Dental Service Organizations (DSOs) in the market. This conversation provides insights into the complexities facing dental professionals in today's changing landscape, highlighting the need for careful consideration of various factors in making pivotal business decisions. Be sure to stay tuned for tomorrow to hear part 2! EPISODE RESOURCES professionaltransition.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode of Mark's podcast, we are delving into the world of dental practice financials. Hosts Dr. Summer Kassmel and Ashlee Hirschfeld, joined by Jake Conway and Dr. Monica Urda, continue their informative discussion. If you're just tuning in, consider listening to Part 1 first for a foundational understanding of the topics covered. This episode delves into the intricacies of ideal hygiene care KPIs and exam numbers, discussing the paradoxical effect of too many periodic exams on production and case acceptance. The phenomenon of exam fatigue and its impact on case acceptance is also explored. The conversation then shifts to strategies for maximizing production and profitability, including reducing personal clinical time. The return on investment associated with proper onboarding of associates and overall systemization is analyzed. The episode concludes with practical advice on quickly reducing overhead percentages, a crucial aspect of financial management. We hope these episodes have provided you with actionable insights. If you've skipped Part 1, it's a valuable resource for understanding the financial aspects of dental practice management and sets the stage for the topics discussed in this episode. Be sure to check it out! EPISODE RESOURCES https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode of Mark's podcast, we are delving into the world of dental practice financials. Hosted by Dr. Summer Kassmel and Ashlee Hirschfeld, and featuring Jake Conway and Dr. Monica Urda, this episode is a goldmine of insights on financial management for dental practices. This discussion, taken directly from a DSN webinar in the Lady Leaders Group, is essential listening for anyone keen on grasping the nuances of dental practice finances. The discussion begins with a comparative analysis of accrual versus cash flow accounting, highlighting the impact of each method on a dental practice. The importance of a well-organized chart of accounts is emphasized, clarifying its role in financial management. A critical segment on analyzing overhead and profitability follows, offering strategies for maintaining financial health. The episode also cautions against taking advice from CPAs without understanding the basics of cash flow and personal business health. The significance of accurate categorization and auditing is addressed, alongside an exploration of fixed and variable expenses. Jake Conway introduces his symptom-cause-solution approach, vital for analyzing and resolving cash flow issues. Stay tuned for Part 2 of this enlightening discussion where we delve deeper into maximizing growth and profitability through KPIs and analytics. If you haven't listened to Part 1 yet, we highly recommend going back to gain a comprehensive understanding before jumping into Part 2. EPISODE RESOURCES https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, join Steve Steinbrunner, from Provide Financial, at the recent presentation at the TPL event in San Diego with his presentation titled "Navigating Dental Lending". Steve delves into how technological advancements have revolutionized the traditional processes of borrowing money, highlighting the positive disruptions in the banking industry. He provides insights into calculating one's liquidity number and the impact of credit card balances on this figure. The discussion also covers the practicality of engaging in associateships for those launching startups. Steve further elucidates the formal loan approval process, including the nuances of locking in interest rates and the distinctions between lending for startup ventures versus established practices. An essential part of his presentation addresses how banks and underwriters perceive practice expansions and the significance of holding the first position in banking. Notably, he explores the strategy of leveraging equity in one's practice as a down payment for new loans. A critical point of discussion is the use of personal assets, such as one's home, as collateral in conventional business lending. This episode is especially valuable for dental professionals looking to expand, acquire, or start their practices, providing them with a deeper understanding of the financial landscape and strategies for successful borrowing. To gain more wisdom on launching your practice successfully, check out The Practice Launchpad at https://www.thepracticelaunchpad.com EPISODE RESOURCES https://www.thepracticelaunchpad.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode, Dr. Mark Costes is joined by Dr. Dan Briskie and Dr. Taher Dhoon from the Colorado Surgical Institute (CSI) for another exciting Surgical Saturday. The trio dives into a comprehensive discussion, Techniques to Avoid & Correct Incision Line Opening. The focus is on a common surgical complication – incision line opening. The discussion covers techniques to prevent incision line opening, especially in lower arch surgeries, and the importance of meticulous suture practices. Dr. Briskie shares insights on his new protocol for managing these complications, including pre-surgical strategies and the innovative use of Botox to prevent muscle movements that can cause incision lines to open. Additionally, the podcast addresses the mental and physical challenges surgeons face towards the end of long procedures and strategies to maintain focus and energy. The episode is rich with practical advice on surgical techniques, suture selection, and the importance of a meticulous approach to ensure successful outcomes in dental surgeries. Don't miss out on the upcoming events from CSI. Explore and register here: https://www.coloradosurgicalinstitute.com/ EPISODE RESOURCES https://www.coloradosurgicalinstitute.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode we're diving into the second half of our engaging crossover episode. In part two of our conversation with Ross Brannon on the Financial Flossing Podcast, we continue our deep dive into the dental industry. This episode focuses on the dynamics of consolidation, the role of DSOs, and the keys to a successful transition in the dental field. Additionally, Ross shares his journey into financial planning, his experiences working with dentists, and his past as an elite lab athlete. This insightful conclusion is filled with valuable lessons and entertaining anecdotes that are sure to resonate with our listeners. If you haven't heard part one yet, I highly recommend pausing here, checking it out first, and then returning for this informative conclusion. EPISODE RESOURCES https://rossbrannon.com/financial-flossing-podcast-with-ross-brannon https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

On today's episode of the Dentalpreneur Podcast, we have a crossover episode with Ross Brannon on his Financial Flossing Podcast. Dr. Mark Costes, delves deep into the essentials of practice management. Ross, a financial analyst who specializes in the dental industry, engages with Mark on a variety of crucial topics. They discuss the origins of the Dental Success Institute, common challenges faced by dentists, and key mistakes to avoid. The conversation also covers Mark's insights on DSOs and his thoughts on industry consolidation. This is part one of a two-part series, packed with invaluable insights for every dental professional. Don't forget to tune in tomorrow for the compelling conclusion in part two of this crossover episode! EPISODE RESOURCES https://rossbrannon.com/financial-flossing-podcast-with-ross-brannon https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast