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Shared Practices | Your Dental Roadmap to Practice Ownership | Custom Made for the New Dentist

A bootcamp in small business ownership and practice management for dentists, giving the new graduate a roadmap to successful practice ownership. We interview the best dentists, experts, consultants and more on our weekly show. Here's the topics we will be covering in our 8 Seasons: 1. First Years as a Dentist 2. Think Like a Business Owner 3. Money and Numbers 4. Startups, Acquisitions, and Partnerships 5. Internal Systems 6. Marketing & Growth 7. Leadership, Vision and Culture 8. Beyond Dentistry Go to SharedPractices.com to get our PDF roadmap of these 8 Seasons.
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Now displaying: June, 2017
Jun 30, 2017

 

Welcome to another episode of the Shared Practices Podcast! Today’s guest is Rick Shneyder, a business banker working in Milwaukee at Bank of the West. We’re really excited about sharing this episode with you. Rick lays out the broad strokes of factors that affect a new grad’s ability to get financing and then, more broadly, how lending works for dentists. Key takeaways include the lending process from top to bottom (including timeframe for each step), advice on financing for multiple locations, and exactly what to look at in the terms of the loan. Rick also shares some tips on how to figure out if your banker knows what they’re doing. All that and more on today’s episode!

 

Links Mentioned in the Show

Our Episode Resource Page where you can find all of the resources from our episodes - for free!

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Reach out to Rick at Rick.Shneyder@bankofthewest.com

 

Guest Bio:

 

Rick was born and raised in Milwaukee, WI. He attended UW Milwaukee with an undergraduate degree in Finance (2004) and an MBA with a focus in Leadership & Negotiation (2006). Currently, Rick is a Vice President & Business Banking Officer at Bank Of The West specializing in several areas. He has a focus on Real Estate Financing (Investment & Owner User). Real Estate financing ranges from apartment buildings to medical offices to manufacturing facilities. He is also an expert in Dentistry, Veterinary and Optometry Financing. Within those 3 industries, Rick focuses in on Acquisitions (full or partial), Consolidation Financing, Start Ups, Tenant Improvement Financing and More. Rick is also an expert in providing operating lines of credit and financing company equipment needs.

Jun 23, 2017

Show Notes

 

Welcome to another episode of the Shared Practices Podcast! We invited dental consultant Marie Chatterley onto the show to talk with us about all things insurance. “Who wants to listen to people talking about insurance?” we can hear you thinking, but trust us - you don’t want to miss Marie’s advice about transitioning into a practice the right way. We talk a lot about insurance credentialing (what it is and when to get it), handling patient communication issues about insurance participation, and wrap up the show with a discussion about PPOs and Delta in particular. This is a content-heavy episode so get ready to dive deep into the world of handling insurance during a transition!

 

Links Mentioned in the Show

Our Episode Resource Page where you can find all of the resources from our episodes - for free!

FAQs about Insurance Credentialing from dental-insurancecredentialing.com

Get more information about Marie and her company CTC here

Send Marie an email

 

Guest Bio:

 

Marie Chatterley has been consulting in the dental industry since 2003. She specializes in coaching doctors through major career transitions such as buying a dental practice, starting one from scratch, or finding a dental associate position. Marie received her undergraduate degree in Public Relations and Marketing from Brigham Young University. Her graduate work and research at Regis University was focused specifically on the business start-ups process (examples: market and demographic research, business plan development, effective marketing strategies, real estate negotiations, and legal issues with hiring and retaining employees).

 

Jun 16, 2017

Show Notes

Kiera Dent is a dental consultant and she joins us on today’s episode of the Shared Practices Podcast. We talk a little about her journey into dentistry, but quickly jump into some practical advice for owners and soon-to-be owners. In this conversation we touch on how to find an associateship (that doesn’t suck), learning how to communicate and educate patients in a way they can understand, and helping dentists bridge the gap between dental school and practice ownership. Kiera also touches on the importance of credentialing, which - trust us - makes a bigger impact than you might think! All this and more on today’s episode of the Shared Practices Podcast.

 

Links Mentioned on the Show

Dental placement pros

Visit Kiera’s website     

Contact Kiera: kierasdentalconsulting@gmail.com

“Never Eat Alone” book (Amazon)

Guest Bio

Kiera works with dentists and their teams to help uncover what changes can be implemented in a practice to create the most financial growth. She has been involved in dentistry for 15 years and is passionate about acting as a means to help practice owners achieve higher levels of success. She acts as an implementer and goes between dentists and their teams to hold everyone accountable for their individual part in achieving specific goals.

 

Jun 9, 2017

Welcome to another episode of the Shared Practices Podcast! We’ve got a return guest in Matt Porter, and we’re glad we asked him back. Matt dives deep into practice valuations from the perspective of a broker, and describes his unique valuation method. He shares with us how to assign values to qualitative factors - collection trends, demographics, staff tenure, etc. - that make the valuation process a lot more concrete, so you can determine if a practice is a good deal or not. We also touch on how to normalize a P&L, why you should stop using “percentage of collections” as a valuation metric, and what not to look at in a valuation. All of this and more on today’s Shared Practices episode.

Links Mentioned in the Show

Our Episode Resource Page where you can find all of the resources from our episodes - for free!

* Menlo Transitions

* Reach out to Matt: matt@menlotransitions.com

 

Guest Bio:

 

In transitioning, brokering and consulting with dental practices, Matt brings a balance of real estate, tax, accounting, and small business acumen. His ability to properly evaluate and leverage both the quantitative and qualitative facets of a dental practice help to provide maximum value to his clients, whether buying or selling a practice. Matt has successfully transitioned dozens of dental offices and represented countless dentists who desire to sell their practice, purchase a practice, or secure a partnership.

Jun 2, 2017

Show Notes

Dr. Tuan Pham is the owner of a successful FFS practice owner in Austin, TX as well as the founder of DentalMaverick.com. Tuan graduated from dental school in 2005 and after a few years as an associate in a practice, it was sold out from under him and he found himself without a job.  Tuan shares why losing his job as an associate is one of the best things that ever happened to him. This eventually led to his search for the best startup location in a crowded metro and what he did himself rather than paying for third party demographics services.  Tuan also shares how experimenting with fees taught him a great lesson about patients' price sensitivity and how we often are holding ourselves back from a more profitable practice. Tuan is a very talented leader and offers a lot of great advice to young dentists looking to own a practice.

 

Links Mentioned on the Show

Our Episode Resource Page

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Tuan's Dental Maverick Summit

Dental Maverick

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