In this episode, Stan Kinder interviews Dr Michael Reimels, D.D.S. a seasoned dentist and entrepreneur. Michael traces his path from dental school, where he initially considered medical school but was inspired by a dentist who loved his work. After dental school, he joined the Air Force for valuable experience and mentorship. His career took off when he entered private practice under the guidance of Dr. Yagi in Charlotte.

Dr. Reimels stresses the importance of having a clear vision for one's career and financial goals. He introduces the concept of "what's your number," which involves determining the financial target needed for a comfortable retirement. Dr. Reimels believes that ownership offers more control over one's career and discusses various ownership structures and partnerships, which can be pathways to success in dentistry.

They delve into the centralization of functions within dental groups. Dr. Reimels explains that while some administrative tasks like finance and accounts receivable can be centralized, patient care and local management should remain personalized to provide an exceptional experience. A key theme throughout the conversation is the significance of the patient experience. Dr. Reimels emphasizes that personalized care, empathy, and remembering details about patients and their families set individual dental practices apart from larger dental service organizations (DSOs).

Partnerships and relationships are highlighted as crucial in the dental business, with an emphasis on offering a pathway to ownership for associates. Mike expresses contentment with the current state of his dental group, leaving the future plans to the discretion of the partners. The transcript touches on private equity interest in dentistry, citing its recession-resistant nature and potential for high returns.

Here’s what to expect this episode:

• The importance of clear vision and financial goals

• The power of offering a personalized patient experience

• Continuous Improvement in clinical skills for the long-term success

• Navigating partnerships and talent acquisition

• The Impact of DSOs and private equity in the dental market.

Connect with Dr. Michael Reimels, D.D.S.

https://www.reimelsdentistry.com/

Connect with Stan Kinder:

https://www.everythingdso.com/

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