BulletProof Dental Practice podcast

A weekly podcast by Dr. Peter Boulden and Dr. Craig Spodak, designed to help you grow your practice through two pillars of success; Systems and Marketing

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kelston

Bulletproof Dental Practice Podcast Episode 65

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Dr. Scott Leune, Founder & CEO of Breakaway Practice & Dental Whale

Key Takeaways:

    
• ·            Most     DSO’s don’t allow for the dentist to work with them to continue growing their     business. 
    
• ·            Breakaway     Practice provides DSO infrastructure to provide partnership and value for     practice owners. 
    
• ·            Breakaway     Practice wants to take the best from corporate infrastructure has today and     make it available to a private dentist through a partnership. 
    
• ·            Traditional     DSO’s are a great benefit for new grads who want guaranteed salary with a lot     of CE and ability to move around the country. 
    
• ·            Practice     sale strategy all depends on the specific wants and needs of the selling     dentist.
    
• ·            Most     Breakaway dentists are entrepreneurs who want multiple locations. 
    
• ·            7     out of 8 practices should not be purchased by someone who wants to own multiple     locations. 
    
• ·            Invest     in training, coaching, and learning if you’re interested in owning multiple     locations. It’s a lot of hard work and isn’t for most people. 
    
• ·            To     get a really high EBITDA multiple you must own lots of locations with a ton of     infrastructure and a solid path to continue rapid growth. 
    
• ·            Dr.     Leune has found there’s a tipping point at 11 days being booked out, profits     start going down and no-shows start going up. 
    
• ·            Once     you’re at that tipping point you have a problem and must fix whatever is     holding back the schedule.
    
• ·            January-March     are the best months of the year for acquiring new patients, cost-wise. August     is also good. Worst times for marketing are December, April-May, and September.
    
• ·            Dentists     need to strive for both clinical AND business excellency. 
    
• ·            Specialists     are in the hardest position right now, as GP’s are taking over more and more of     their business.
    
•  If     you’re doing what you love and making a good amount of money, perhaps there’s     no reason to change or do anything different. Not everyone has to be the CEO.

    
• ·            If     you do what’s right for the patient, create a really good value-based practice,     and have a good following there’s plenty of room for you to be successful in     the future. 
    
• ·            Figure     out the “why” first so you don’t end up going down the wrong path. Once you’re     clear in your decision making, decisions aren’t that hard. 

Tweetables:

Innovation comes from pain, and not giving up. – Dr. Scott Leune

It’s so much easier to make a decision when there’s purpose behind it. – Dr. Scott Leune