Art of Dental Finance and Management

Today Art talks with Jordan Comstock, CEO and founder of BoomCloud. Jordan's company has assisted over 1,000 dental offices in creating, organizing, and automating an In-House Dental Membership Plan. Jordan discusses how this is a great tool to move further and further away from being dependent on insurance companies; how it generates a stream of ongoing and consistent revenues; how these types of plans actually increase the amount of dentistry accepted by patients; and how the mechanics of such a plan work. He also discusses how to market such a plan, and how to go to local businesses to attempt to get them to join the dental office plan. A great interview and motivation to find more fee-for-service patients in your dental practice.

This week Art does a show on his own about a subject that he is very passionate about - helping dentists retire. He begins with a case study explaining how you should think about calculating the numbers of retirement and your many choices. He then dispels myths about retirement, and talks about not retiring and perhaps working back in your practice or in an area you have a passion for. He provides three main areas you must consider (1) when you want to retire, (2) where you want to retire, and (3) what type of lifestyle you want to have. Art outlines the three types of retirement plans dentists can have: (1) SIMPLE-IRA plans, (2) Profit Sharing/401(k) plans, and (3) defined benefit plans. He closes with client and personal stories on retirement. The goal: get listeners to take action and begin immediately planning for a great retirement! Be sure to tune in for this valuable information.

In this episode, Art and Katherine discuss key leadership skills for a dentist that include how to lead a dental team and how to create a great culture. In addition, they converse about creating and building a world-class dental team who believes in and executes the dentist's vision and goals for the practice. Katherine talks about dentists using the same instincts that lionesses use to help their lion cubs go out into the wild and be successful, relating that to training a team. Finally we’ll discuss how to hold team meetings, how to train team members, and other communication issues between team and doctor. If you’re looking for leadership development tips, this episode is a must.

Today Art talks with his long-time friend from his Pride Institute days, Dr. Michael Unthank. Dr. Unthank is both a dentist and a world class dental architect who has designed over 1,000 dental offices all across the United States. Art and Mike talk about the process of choosing an architect and contractor; things he likes to see in dental treatment rooms, front offices, and sterilization areas; and mistakes he has observed. Mike is one of the most knowledgeable people in the country when it comes to dental office design, and he gives many tips on what dentists should consider when contemplating their design. His key question is "How do you want to practice?" This opens the door to the vision of the doctor and helps create an office where his clients are very happy practicing. Whether you’re looking at revamping your office, moving to a new office, or launching a new practice, there are lots of great tips for you in this episode.

Today, Art talks to his client Barbara McGuire who manages her husband John's dental office in Long Beach, California.  Barbara worked for sixteen years in corporate America in the business world and brought her experience to her husband's dental office.  Barbara and Art talk about what she looks at from a business perspective, how they have implemented CAD-CAM, sleep apnea and medical billing into their practice, and Barbara has amazing insights into what has made her husband's practice very successful which centers on a patient based practice.  Be sure to take notes as Barbara gives tons of tips on what she does managing the office that you can use in your office.

Today Art talks to Rita Zamora the president of Rita Zamora connections who specializes in social media marketing for dentists. Rita will tell us the best ways to connect with patients on Facebook and Instagram, what mistakes people make in trying to handle social media marketing, and the best ways to get new patients using social media.

Today Art visits with Ted Schumann who is a member of the Academy of Dental CPA's and is the founder and principal in the DBS Companies in Bay City, Michigan.  Ted like Art is a dental CPA and also a dental practice broker.  Ted and Art will discuss what buyers and sellers need to take into consideration when planning to buy or sell a dental practice.  Ted has over thirty years experience in working with dentists and his insights on this topic are spot on.