January 31, 2024

Ep 17: From Music to Molars: The Road to Remarkable Results

42 minutes

In this episode, Stan Kinder welcomes Kirk Teachout, a successful figure in the dental industry known for managing his wife's dental practice and turning it into a thriving business. This transformation led Kirk to establish a coaching business to guide other dentists and practice owners towards similar success. The conversation begins with the host expressing his intent to expose the audience to thought leaders who can provide valuable insights and advice for achieving success in their respective fields. Kirk shares his unconventional journey from the music industry to the dental sector, emphasizing the skills he acquired in marketing and audience engagement that he later applied to his wife's dental practice. Despite having no prior business experience in dentistry, Kirk and his wife took a leap of faith and bought a practice in a rural area, only to face the unforeseen challenges of COVID-19 shortly after. This situation forced them to reevaluate their business strategies and led to innovative approaches that significantly increased their productivity and collections, even when reducing their working days.

Kirk delves into the specifics of his successful practice management, highlighting the importance of efficient scheduling, treatment acceptance, and building trust with patients. He recounts how the practice was able to maintain high production levels by optimizing their schedule, even with a reduced number of working days. Kirk also discusses the remarkable increase in collections they experienced by focusing on efficient practice operations and patient trust. Furthermore, he shares an insightful anecdote about an associate who, under their guidance and system implementation, significantly increased her daily production. This experience validated the effectiveness of their methods and encouraged Kirk to extend his knowledge through coaching. The episode transitions into discussing the strategies Kirk employs in his coaching business, emphasizing scheduling efficiency and treatment acceptance as key areas of focus.

Here’s what to expect this episode:

Innovative Scheduling and Efficiency: Listeners will learn about the importance of scheduling efficiency and how innovative approaches to practice management, such as reducing working days, can lead to increased productivity and collections without sacrificing the quality of patient care.

Focus on Treatment Acceptance: The episode highlights the significance of building trust with patients and focusing on treatment acceptance. Kirk Teachout emphasizes that a high treatment acceptance rate, achieved through effective communication and trust-building, can significantly enhance a practice's success.

Resilience and Adaptability: The story of how Kirk and his wife navigated the challenges of COVID-19 shortly after purchasing their practice demonstrates the importance of resilience and adaptability in the face of unforeseen circumstances, and how these qualities can set the stage for unprecedented growth.

Strategic Business Decisions: Kirk's approach to insurance management and practice ownership, including his transition towards a fee-for-service model and his decision to keep the practice small for simplicity and effectiveness, provides valuable insights into making strategic business decisions that align with one's personal and professional goals.

Empowering Leadership and Team Dynamics: The episode underscores the necessity of strong leadership and investing in team training. Kirk discusses how nurturing a positive office culture and investing in team development can lead to a more efficient, harmonious work environment, ultimately reflecting in the practice's success and patient satisfaction.

Connect with Kirk Teachout:

https://thesevenfiguredentist.com/

Connect with Stan Kinder:

https://www.everythingdso.com/

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