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The Jameson Files 107 – Dr. Shannon Maddox – The Pitfalls of Buying and Building a Dental Practice
https://youtu.be/ryo_haF0La8
Carrie Webber [00:00:10] Hi everyone and welcome back to the Jameson files. I'm Carrie Webber and I'm your host And I'm so excited for another episode of our podcast where I get the opportunity to interview an amazing doctor from Oklahoma City, Oklahoma. A dear friend of mine and my own personal dentist, Dr. Shannon Maddox. Dr. Maddox thank you so much for joining us today.
Dr. Shannon Maddox [00:00:36]Thanks for having me.
Carrie Webber [00:00:37] Dr. Maddox has an amazing origin story and one that probably will resonate really deeply with a lot of you out there and what your story looks like or what decisions you're on the cusp of making for yourselves in your professional career. So I'm just thrilled to have a chance to talk about that. You went to dental school right here in Oklahoma at the University of Oklahoma College of Dentistry and went on to do a residency at OU as well, correct?
Dr. Shannon Maddox [00:01:07]Yes.
Carrie Webber [00:01:08] So why didn't you tell me the story. Because you started in corporate and then the great thing about your story is how you started in corporate and moved on into practice ownership right. So what did you tell me a little bit about what what that part of your history and your career looked like.
Dr. Shannon Maddox [00:01:28]Sure.
Dr. Shannon Maddox [00:01:29]And so like you said I graduated from you and then did a year long residency. So I had a pretty good handle when I finished my AGD residency about what type of practice I wanted to go into. But I had no clue what kind of dentistry that I wanted to do. So in that course of that year I had been taking job offer or doing job interviews and going to different practices and trying to figure out what the next step looked like. And I just couldn't get a good feel. I just never walked in and felt like this is it. This is what I want to do. This is where I want to be. And I really if I was going to go into private practice I wanted it to be it. I wanted it to be the practice that I was going to be in for the rest of my life. And so I just never got that feel. And in retrospect it's because I had no clue what kind of dentistry I wanted to do.
Carrie Webber [00:02:20] Right.
Dr. Shannon Maddox [00:02:23]And so I needed to pay bills and had massive amounts of debt. And so I needed to find a job regardless. And so I went in to a corporate practice setting and I worked. I was it was a office that was a one doctor practice that was really really busy with that one doctor and so they were moving it to be a two doctor practice. And so it was very busy very. There was a wide range of people a wide array of people, rather, that coming into the practice so and we had a lot of people that were very dental aware and a lot of people that had never seen a dentist in their life.
Dr. Shannon Maddox [00:03:06]And so I got a lot of experience through that year about the different kinds of dentistry that we could provide people and really got a handle on what kind of dentistry I wanted to provide people. But in the end it was not as fulfilling as I had probably wanted my practice to be.
Carrie Webber [00:03:29] So what does that mean. What what does that mean to you. Right. Give me some examples of what that look like.
Dr. Shannon Maddox [00:03:34]So I worked in corporate for about a year and a half. And but for the last six months of that I was actively kind of moving out of corporate dentistry. So I would say that for that year was really kind of I might be in this for a while. What does that look like. And so I was really fortunate. I learned a lot. I learned a lot about dentistry and learned a lot about patients. I learned a lot about insurance not necessarily from an insurance standpoint. So I didn't learn a lot about the ins and outs of how insurance works in those types of things. But I did learn a lot about the patient that was motivated by insurance.
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By The Jameson Group, LLC
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https://youtu.be/ryo_haF0La8
Carrie Webber [00:00:10] Hi everyone and welcome back to the Jameson files. I'm Carrie Webber and I'm your host And I'm so excited for another episode of our podcast where I get the opportunity to interview an amazing doctor from Oklahoma City, Oklahoma. A dear friend of mine and my own personal dentist, Dr. Shannon Maddox. Dr. Maddox thank you so much for joining us today.
Dr. Shannon Maddox [00:00:36]Thanks for having me.
Carrie Webber [00:00:37] Dr. Maddox has an amazing origin story and one that probably will resonate really deeply with a lot of you out there and what your story looks like or what decisions you're on the cusp of making for yourselves in your professional career. So I'm just thrilled to have a chance to talk about that. You went to dental school right here in Oklahoma at the University of Oklahoma College of Dentistry and went on to do a residency at OU as well, correct?
Dr. Shannon Maddox [00:01:07]Yes.
Carrie Webber [00:01:08] So why didn't you tell me the story. Because you started in corporate and then the great thing about your story is how you started in corporate and moved on into practice ownership right. So what did you tell me a little bit about what what that part of your history and your career looked like.
Dr. Shannon Maddox [00:01:28]Sure.
Dr. Shannon Maddox [00:01:29]And so like you said I graduated from you and then did a year long residency. So I had a pretty good handle when I finished my AGD residency about what type of practice I wanted to go into. But I had no clue what kind of dentistry that I wanted to do. So in that course of that year I had been taking job offer or doing job interviews and going to different practices and trying to figure out what the next step looked like. And I just couldn't get a good feel. I just never walked in and felt like this is it. This is what I want to do. This is where I want to be. And I really if I was going to go into private practice I wanted it to be it. I wanted it to be the practice that I was going to be in for the rest of my life. And so I just never got that feel. And in retrospect it's because I had no clue what kind of dentistry I wanted to do.
Carrie Webber [00:02:20] Right.
Dr. Shannon Maddox [00:02:23]And so I needed to pay bills and had massive amounts of debt. And so I needed to find a job regardless. And so I went in to a corporate practice setting and I worked. I was it was a office that was a one doctor practice that was really really busy with that one doctor and so they were moving it to be a two doctor practice. And so it was very busy very. There was a wide range of people a wide array of people, rather, that coming into the practice so and we had a lot of people that were very dental aware and a lot of people that had never seen a dentist in their life.
Dr. Shannon Maddox [00:03:06]And so I got a lot of experience through that year about the different kinds of dentistry that we could provide people and really got a handle on what kind of dentistry I wanted to provide people. But in the end it was not as fulfilling as I had probably wanted my practice to be.
Carrie Webber [00:03:29] So what does that mean. What what does that mean to you. Right. Give me some examples of what that look like.
Dr. Shannon Maddox [00:03:34]So I worked in corporate for about a year and a half. And but for the last six months of that I was actively kind of moving out of corporate dentistry. So I would say that for that year was really kind of I might be in this for a while. What does that look like. And so I was really fortunate. I learned a lot. I learned a lot about dentistry and learned a lot about patients. I learned a lot about insurance not necessarily from an insurance standpoint. So I didn't learn a lot about the ins and outs of how insurance works in those types of things. But I did learn a lot about the patient that was motivated by insurance.