Mar 22, 2019
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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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.