The Shared Practices Podcast - Archives

This week on Shared Practices see's the return of Dr Olya Banchik, Dr. Banchik is on the forefront of cosmetic dentistry and studied at the world-renowned Las Vegas Institute for Advanced Dental Studies, where she has completed numerous courses in the most advanced techniques of aesthetic dentistry and treatment of temporomandibular disorders. Recently Olya moved from Vegas to North Carolina to start her new practice and we catch up with her to discuss all of the recent developments.

For the third instalment of Richards interviews with Olya, we initially focus more on the obstacles that she faced starting her practice from scratch. More of a what to avoid episode as opposed to the last few weeks. Once again, Olya tells some funny anecdotes about some issues she encountered early on and we cover a massive range of topics. Such as : Early infrastructure problems, time allocation, getting set up with insurance, marketing tips, expectations versus reality and later on we cover what drove Olya to go from clinical dentistry to where she is now.

::Links::

Banchik Dental - http://www.banchikdental.com/about/meet-dr-banchik

Reach out to Dr. Olya Banchik about consulting on a practice acquisition: [email protected]

Reafield Dental - https://reafielddental.com/

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::Topic Timecodes::

00:00 – 00:23 Episode intro with Richard.

02:39 – 05:00 How people have been responding to the episodes with Olya.

05:01 – 11:20 The process of choosing a location and balancing opportunity with lifestyle

11:21 – 17:40 Olya goes over some obstacles she encountered when starting her practice from scratch. (infrastructure, mail, internet and finance)

17:41 – 19:26 A reminder to not forget the basics when focusing on big picture problems.

19:27 – 21:35 The cart measurement catastrophe.

21:36 – 23:33 Allowing yourself the proper time to establish your systems can be tough.

23:34 – 30:36 What Olya learned about verifying insurance, getting credentialed and third-party admins.

32:37 – 35:45 Some of the areas that Olya chose to spend a bit more of her budget on. (construction, equipment and staff)

35:46 – 37:26 What marketing techniques worked for Olya.

37:27 – 39:37 Getting exposure in local publications and how to go about it.

39:38 – 41:30 How Olya's first year is shaping up compared to her expectations.

41:31 – 45:42 Going from clinical dentistry to helping dentists in practice transition.

45:43 – 53:56 Deciding if practice ownership is for you.

53:57 – 56:38 Charging hourly versus a percentage or flat fee system

56:39 – 59:59 At what point should someone reach out for consultancy for practice transition.

1:00:00 – 1:02:17 Interview conclusion and episode outro.

Download the guide Dr. Banchik used to analyze practices in her area

This week on Shared Practices see's the return of Dr Olya Banchik, Dr. Banchik is on the forefront of cosmetic dentistry and studied at the world-renowned Las Vegas Institute for Advanced Dental Studies, where she has completed numerous courses in the most advanced techniques of aesthetic dentistry and treatment of temporomandibular disorders. Recently Olya moved from Vegas to North Carolina to start her new practice and we catch up with her to discuss all of the recent developments.

In this interview Olya takes us through the process of finding a location, designing your interior layout and what specific equipment she is finding works for her. We go into specifics around square footage requirements, scalable methods for practice layout and even advice for negotiating a lease. All in all this episode has some great information to give you an idea of the numbers you will be dealing with when starting a new practice. Olya has some great advice for budgeting upfront costs and working capitol, and even some ideas for finding a contractor that suits your needs.

::Links::

Banchik Dental - http://www.banchikdental.com/about/meet-dr-banchik

Reach out to Dr. Olya Banchik about consulting on a practice acquisition: [email protected]

Reafield Dental - https://reafielddental.com/

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::Topic Timecodes::

02:00 – 05:20 Episode intro, and a catch up with Olya about her practice.

05:21 – 09:52 what to look for when finding a location for your start-up and whether or not to use brokers.

09:53 – 10:43 For Olya, did lifestyle, or the practice itself take precedent for the final decision on location.

10:44 – 11:46 What square footage requirements to expect.

11:47 – 15:31 Dealing with trepidation and fighting the hubris that comes with immediate success.

15:32 – 20:00 What is Olya's vision for the future of her practice.

20:01 – 25:41 Some advice for negotiating a lease.

25:42 – 30:29 What are 'tenant improvements' and what price range to expect per square foot.

30:30 – 34:33 What other upfront costs should you budget for.

36:25 – 37:31 How much of your first year's operating budget should you allocate for working capitol.

37:32 – 40:02 What to consider when deciding if you are ready to begin a start-up.

40:03 – 46:24 Coming up with a layout for your practice, why Olya designed hers herself and what influences her designs.

46:25 – 50:55 What choices for lighting, screens and x-ray units would Olya recommend.

50:56 – 55:56 Richard shares a story about 'Nomad' x-ray machines and him and Olya discuss their viability for start-ups.

55:57 – 1:03:47 How do you source a reliable contractor and what to look out for.

1:03:48 – 1:06:49 Interview wrap up.

Download the guide Dr. Banchik used to analyze practices in her area

Dr. Banchik is committed to treating all of her patients like members of her family – with individualized attention and a great concern for the patients comfort. Her specialized education combined with broad experience provides her patients with state of the art, personalized dental care. As an active member of several dental organizations, Dr. Banchik is at the forefront of cosmetic dentistry.

In this interview, Dr. Banchik talks about her journey from graduation to owning multiple dental practices and recently moving to a new state to pursue her dream life. She provides a refreshing perspective of what life is really like after qualifying and the options available, whether that is moving to where the job opportunities are or setting up your own practice. Richard asks Dr. Banchik how she set up and grew multiple successful practices and she is more than happy to share her tips and even her business resources with the Shared Practices community.

Reach out to Dr. Olya Banchik about consulting on a practice acquisition: [email protected]

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:: Topic Timecodes ::

00:00 – 03:10 Show intro with Richard

06:00 – 11:19 Talking with Dr. Banchik about her background in dentistry and her journey to purchasing multiple dental practices.

11:20 – 17:08 Dr. Banchik talks about her first two practices and the turnover the practices generated.

17:09 – 23:58 What allowed Dr. Banchik's practice to grow and become a success.

23:59 – 34:25 Dr. Banchik's transition from Las Vegas to North Carolina and the start-up of her new practice.

34:26 – 37:35 Dr. Banchik's first ten years after graduation and the drive to accomplish her dream life.

37:47 – 47:32 The importance of demographic and competition analysis before committing to a practice location.

49:13 – 53:15 Dr. Banchik shares her next steps after area analysis and how to pick a location and maximize space.

54:15 – 56:28 The implementation of systems and organization to make a practice successful.

56:29 – 59:39 Show outro with Richard

This week's guest on Shared Practices is Dr. Alex Sharp. Alex is a graduate from UCA Honors College, with a degree in Biology, Spanish, and Interdisciplinary Studies, and was then accepted into the University of Tennessee College of Dentistry. Following his graduation, Dr. Sharp returned to Arkansas, where he practiced in Searcy, Little Rock, and North Little Rock, prior to purchasing his practice in 2018.

Alex joins us to talk about all things practice ownership, having just finished the initial period of initial practice ownership himself. Richard grill him on the systems he has implemented, and the guys go in depth on analysing his performance and his numbers after the first six months. Richard asks about assisted hygiene, working with a local bank, working with coaches and advisors and lots more.

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::Topic Timecodes::

00:00 – 01:00 Show Intro with Richard

02:58 – 05:54 Talking with Alex about his background and how he got into podcasting, from the Dental Hacks booth at Voices of Dentistry.

05:55 – 09:33 Alex's associateship and what lead him to begin his start-up.

09:34 – 13:24 Troubles with acquisition and how long did the process take for Alex.

13:25 – 14:40 Viewing debt more positively.

14:41 – 19:01 What attracted Alex to the practice he eventually bought and why it I important to see a lot of possibilities.

19:02 – 21:46 Discussing financing and why Alex chose to work with a local bank.

21:47 – 29:36 Alex reflects on his first six months of ownership, what he would have done differently and gaining the trust of a new team.

31:58 – 36:53 What teething problems did Alex experience and what were the initial changes he made.

36:54 – 39:20 Implementing assisted hygiene and what to look out for when doing so.

39:21 – 41:24 Doctor production versus hygiene production.

41:25 – 50:23 Alex reviews his own progress and what it really means to own a million dollar practice.

50:24 – 55:39 Hiring a coach or advisors and the value you can get from it.

55:40 – 56:46 Final thoughts from Richard and Alex.

56:47 – 59:10 Show outro with Richard.

Adam is the VP of Marketing at Spear Education, was instrumental in the development of Spear's online education platform and has worked in a variety of industries, from start-ups to Fortune 500 companies. Adam has experience building exceptional organizations in a variety of business climates. He chaired the College Relations Committee for the Greater Phoenix chapter of the National Society for Human Resource Management.

Recently he Co-Authored the book 'Case Acceptance in the Modern Dental Practice' with Dr. Frank Spear. Request copy of the book here

In this interview with Adam, Richard delves deeper into the Spear Methodologies contained within the Book, the guys workshop some hypothetical scenarios and figure out some of the roadblocks people can encounter. As opposed to the last episode with Adam this one is more in depth and features many practical examples and techniques that you can start to use immediately to improve your case acceptance.

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::Topic Timecodes::

00:00 – 01:55 Episode intro with Richard

03:47 – 06:23 Discussing the previous episode that Adam was on and why it was good.

06:24 – 10:53 What Adam wanted to achieve with the case acceptance book, explaining co-discovery and some of the main obstacles to case acceptance.

10:54 – 13:13 The necessity of selling in a healthcare environment and dealing with the ethics question.

13:14 – 16:11 Workshopping some communication techniques.

16:12 – 20:51 Alleviating cognitive dissonance in your patients.

20:52 – 23:46 Using a check list, and the Persuasion/Knowledge model.

23:47 – 29:15 The Elaboration/Likelihood model explained and some things to consider when attempting persuasion techniques.

30:18 – 34:58 Skills you need when swaying high elaboration patients.

34:59 – 39:48 Richard tries some of the phraseology out on Adam.

39:49 – 45:04 How can we expedite case acceptance with language, when presenting options.

45:05 – 45:57 Using numbered prioritisation methods for patient understanding.

45:58 – 50:56 Bringing up past diagnosis with repeat, high elaboration patients.

50:57 – 54:11 Final thoughts and reflections on the discussion, with Adam and Richard.

This week's guest is Dr. Martin Mendelson from Spear Education, Dr. Mendelson is a Spear Resident Faculty member and Spear's Executive Vice President of Client Services. He is also the host of Spear Seminars and the Spear Summit. Dr. Mendelson has contributed to leading industry publications, is a voting member of the ADA Standards Committee for CAD/CAM in Dentistry and has lectured nationally and internationally on color science and dentist/technician communications.

In this interview, Richard and Martin cover a lot of the aspects of how to properly utilise working with a specialist, from a GP's perspective and vice versa. They cover what you can gain by becoming a specialist, or working with one, and the benefits you will see from expanding your skillset. Martin talks about some of the nuances of communication between GP and specialist, and how it relates to the patient and their perspective. Martin also discusses how to deal with referrals properly and what results you can expect to see.

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:: Topic Time Codes ::

00:00 – 03:24 Episode introduction with Richard.

05:10 – 07:50 Introducing Martin, how he got involved with Spear and what he does.

07:51 – 13:46 Realising your limits, what you can learn from having a specialty and the benefits of an interdisciplinary team.

13:47 – 18:33 how can working with a specialist directly improve your case acceptance.

18:34 – 22:20 How would Martin advise someone goes about expanding their skillset through specialisation.

22:21 – 24:57 Martin gives Richard feedback on his attempt at his communication technique.

24:58 – 28:12 The communication skills you pick up working with a specialist and how it can affect your referrals.

29:27 – 34:42 What options does a specialist have to go about improving case acceptance and what results you can expect.

34:43 – 37:00 How can a specialist start to help their GP with clinical education.

37:01 – 40:34 Building a relationship with your GP, and what specific techniques does Martin recommend for being more efficient with your discussions.

40:35 – 44:23 How practice capacity determines your growth, and the importance of scheduling independence.

44:24 – 48:40 Professional Relationship Directors, do you need to hire one? What traits to look for.

48:41 – 49:49 Final thoughts with Martin.

49:50 – 51:00 Outro with Richard.

This week on Shared Practices Richard interviews Rachel Wall, 20-year veteran hygienist, consultant, speaker and CEO/founder of Inspired Hygiene. Rachel has written for, and been featured in, numerous industry journals including Dentistry Today, Progressive Dentist, RDH, and Hygienetown. She recently received the 2012 Dental Excellence Award from DrBicuspid.com for "Most Effective Dental Hygienist Educator".

Within any practice, Hygienists have a unique role to play in case acceptance, and Rachel's experience gives her the perfect perspective to explain how to maximise their effectiveness in that role. As with all the episodes on case acceptance there is a healthy amount of discussion on patient communication, and how having a team who are all on the same page, is vital to reaching your practices full potential. Rachel also discusses the various techniques she uses to implement systems for case acceptance effectively, and some roadblocks you may encounter within your team.

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:: Topic Time Codes ::

00:00 – 01:17 Richard intro's the show

03:34 – 06:43 Introducing Rachel and explaining how hygienists can be central to case acceptance.

06:44 – 09:10 Improving communication between hygienists, dentists and patients and the impact it can have

09:11 – 12:11 seeing things from the patient's perspective and how a lack of communication can lead to fatigue within the team.

12:12 – 16:27 How can you get your team on the same page.

16:28 – 20:51 How often should you hold case reviews and how you can benefit in the long term from scaling them to more complex cases.

20:52 – 24:15 Keeping your diagnosis consistent and the importance of updating your team to changes in your methodology.

25:36 – 30:04 Where do teams struggle with implementing case reviews.

30:05 – 35:28 How often does Rachel se examples of team members not buying into the system.

35:29 – 39:59 The triage approach to patient communication and a discussion about co-diagnosis.

40:00 – 44:52 When is it important to focus on preventative treatment versus co-diagnosis in a case acceptance context.

44:53 – 47:03 Bringing every member of your team into the role of a healthcare provider.

47:04 – 48:23 Some final thoughts with Rachel.

48:24 – 52:03 Conclusions with Richard

This episode of Shared Practices has previously aired on the Dentalpreneur podcast and sees Richard talking to Mark Costes and Alastair MacDonald following the Voices of Dentistry conference.

Dr. Costes is founder of the Dental Success Institute, a company committed to helping dentists to achieve their full potential, while recapturing their passion for dentistry. He is also the founder of the Horizon Schools of Dental Assisting.

Alastair J. Macdonald is the owner of the consulting firm Parallax Strategic Advisors and is the editor and publisher of the economic, social and market forecasting service "The Parallax Report." He has also served as adviser to state governors and legislators on social and economic policy, as well as public policy think tanks.

The interview see's Richard plying Alastair for his perspective on authenticity and a whole host of issues on outlook and perspective that can affect a dentist's case acceptance. Alastair's experience in different industries and sectors gives him a unique outside perspective on what dentists can do to improve much of their negative habitual behaviour and mindsets. This is another episode jam packed with nuggets of information, so if you are not already a subscriber to the Dentalpreneur podcast then you may have to listen to it twice.

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:: Topic Time Codes ::

00:00 – 01:50 Episode introduction from Richard.

03:13 – 07:59 Mark introduces Richard and they talk about the conference and the great networking that happens there.

08:00 – 10:03 Discussing how podcasting has helped them respectively and how Richard and Mark met.

10:04 – 12:35 Alastair talks about his background and what lead him to work with Mark.

12:36 – 17:02 Richard asks Alastair for his perspective on what dentists struggle with and we discuss Alastair and Mark's different approaches.

17:03 – 20:30 Where systems should take over, where human interaction should be paramount and discussing truth versus value

20:31 – 22:05 Talking about a few of the roadblocks that often stop dentists from achieving verity over truth.

23:32 – 26:43 To what extent should you regulate yourself? And communicating joy from authenticity.

26:44 – 30:41 How authenticity compliments good case presentation and using the communication of joy as a path to profit.

30:42 – 34:15 What kills authenticity and some tactics to improve trust with patients.

34:16 – 38:18 Balancing being present with time constraints and the importance of fully focusing on the patient.

38:19 – 42:06 Why effective prioritisation can be useful to everyone and how being positive is a skill you can improve.

42:07 – 45:39 Mark talks about a binary ranking system he uses to track improvement and Richard talks about another method he is using for self-accountability.

45:40 – 47:31 Some final thoughts and conclusions.

This Week's episode guests a returning friend of the show Kiera Dent. Kiera is the owner and founder of Dental Placement Pros and Kiera's Dental Consulting. She is partner in Zen Dental Supplies, consults in 50 client offices nationwide, recruits for over 60 dental offices nationwide and owns multiple dental offices.

This episode is a short departure from case acceptance as Kiera joins us to discuss her new podcast 'Dental A Team'. Kiera and Richard talk shop about podcasting and then delve into what Kiera hopes to accomplish with the podcast. After which they move on to a wider discussion about KPI's and accountability in a team context featuring a lot of useful pieces of information.

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:: Topic Time Codes ::

02:08 – 04:27 Catching up with Kiera.

04:28 – 09:53 What lead Kiera to decide to start a podcast and the story behind the name.

09:54 – 14:09 Breaking into a new podcast niche and how Kiera hopes to help her listeners.

14:10 – 16:19 Possible show segments for the new podcast.

16:20 – 19:38 How someone can lead and inspire when their time is split between practices.

19:39 – 22:22 How does Kiera manage her time

22:23 – 24:54 What's the best means of tracking KPI's

26:53 – 32:36 Discussing the different software available and when it is good to manually track KPI's

32:37 – 38:09 Some extra KPI's that you can track remotely and What systems Kiera uses for receiving reports.

38:10 – 40:38 Simplifying the reports process and how to implement it.

40:39 – 48:29 How to deal with the team not meeting your targets.

49:30 – 54:43 Exploring some hypotheticals involving building a culture.

54:44 – 1:00:25 What's coming up in the near future and some final thoughts from Kiera.

1:00:26 – 1:03:49 Conclusions with Richard.

Dr. Chris Bowman is a full-time practicing dentist, speaker, author, and dental coach from Charlotte, North Carolina. A graduate of the University of North Carolina – Chapel Hill School of Dentistry, he started Advanced Dentistry of Charlotte in 1996. A consummate student of business systems, communications and marketing, Dr. Bowman is dedicated to helping dentists from the US and internationally to achieve the highest levels of success and profitability in their practices. In 2005 he founded Dental Insiders, which provides coaching, consulting, and training programs for dentists and dental team members.

In this episode we delve deep into the nuance of communicating with your patients. When to put them at ease and when to induce some concern, using your team to convey a consistent message, all the way down to some specific phrasing that you can utilise to increase your case acceptance rates. Chris and Richard go into depth on a whole host of other topics relevant to case acceptance as well, including Photography, training your team, dealing with different procedures and creating patient awareness.

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:: Topic Time Codes ::

05:11 – 10:56 Introducing Chris and exploring his foundations and intrigue with patient behaviour.

10:57 – 13:03 How did Chris expand his knowledge and what or who were some of his biggest influences?

13:04 – 19:00 How patients sell to dentists and seeing case acceptance as a negotiation.

19:01 – 22:57 Thinking about phrasing and what you are representing to patients.

22:58 – 29:44 Team synergy and the importance of presenting a consistent message.

29:45 – 30:14 Some simple steps your team can use to prep a patient for case acceptance.

32:44 – 35:53 Training hygienists to give quotes and use cameras.

35:54 – 37:46 What procedures does Chris prefer to undertake?

37:47 – 39:11 Training your team in the finer points of utilising photography.

39:12 – 45:03 Raising awareness and techniques to avoid intimidating the patient.

45:04 – 45:54 Leveraging your team effectively.

45:55 – 50:55 How many photos does Chris usually take and why?

50:56 – 53:09 Creating an impact with the patient and some tips on communication.

53:10 – 54:57 Creating healthy concern within the patient that can lead to higher case acceptance rates.

54:58 – 57:17 Cataloguing Photographs.

57:18 – 1:00:05 Chris talks about some of his programmes and gives some final thoughts.

1:00:06 – 1:05:00 Outro and some updates