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Summary
 
In this episode of Hey Docs!, Jill Allen and Nathan Hudson discuss the intricacies of starting and managing a practice, focusing on the importance of understanding both clinical and business aspects. They explore the 'Five B's' framework, which includes banker, broker, bean counter, broadcaster, and builder, emphasizing the need for a well-rounded approach to practice management. The discussion also highlights the distinction between tools and toys in equipment purchasing, the significance of budgeting for marketing and branding, and identifying efficiency gaps in practice operations. Nate also touches on various challenges practices face, particularly startups, in navigating equipment choices and emphasizes the need for informed decision-making.


Connect With Our Guest

Renew Digital - https://www.renewdigital.com/


Takeaways

• Nate Hudson has a background in engineering and dental sales.
• The Five B's framework is essential for practice owners.
• Understanding the difference between tools and “toys” is crucial.
• Budgeting effectively can lead to greater success in startups.
• Efficiency gaps often arise from lack of communication within teams.
• Training is vital when purchasing new technology.
• Doctors should focus on their long-term goals when making purchases.
• Not all equipment needs to be brand new to be effective.
• Team cohesion is necessary for a successful practice. Efficiency in imaging can significantly impact patient flow.
• The merger of Renew Digital and Voxel Dental creates a comprehensive service offering.
• Startups should consider future needs when designing their practices.
• Choosing the right equipment can save significant costs in the long run.
• Having multiple specialists can ease the burden of equipment selection.

Chapters
 
00:00 Introduction
02:54 Nathan Hudson’s Background
05:32 The “Five B’s” Framework
11:46 Tools Versus Toys
15:05 Budgeting and Hidden Costs
20:20 Spotting Efficiency Gaps
26:40 Voxel Partnership and Labs
32:58 One Rep or Many Vendors
38:24 How to Contact Renew Digital 

Episode Credits:
 
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Garrett Lucero

Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice?

Reach out to me- www.practiceresults.com.
   
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