Podcast Episode #412: The Future of Dental Consolidation – Bruce Baird & David Porritt
Episode #412: Dentist Freedom Blueprint Podcast
The Future of Dental Consolidation – Bruce Baird & David Porritt
Today Bruce Baird and David Porritt join me in a conversation focused on the current climate of the dentistry industry and the many options for practice growth and transition. They are truly “boots on the ground” when it comes to this, so don’t miss out on their insight into what the consolidation industry looks like and how doctors can use their leverage to take advantage of what’s going on in this marketplace.
Bruce served in the military then grew a practice from the ground up, sold it, formed his own dental academy, and much more. David has been entrenched in dentistry for a long time and brings his impressive amount of experience and research on the consolidation industry to the table. Listen in as they discuss why consolidation shouldn’t be feared, share important patterns the market is showing, and explain the best options available.
Minute Markers:
1:42 – Bruce and David’s background in dentistry, business, and transitions.
4:48 – Where they started out working together and understanding EBITDA.
7:30 – Where the consolidation industry stands right now and where it is heading.
9:42 – Why you have to understand the playbook and the DSO’s dirty secret.
11:38 – What’s going on with valuations and how it changes the playbook.
13:27 – What many doctors don’t know about private equity.
18:32 – The MSO platform Bruce and David are putting together.
22:25 – How they make the consolidation process more transparent and better for everybody.
25:13 – The thing that makes the biggest impact in doctor satisfaction.
Featured on the Show:
Bruce Baird: Website | LinkedIn
David Porritt: LinkedIn | Email
Productive Dentist Academy
The Productive Dentist Podcast
Legendary Leadership by Dr. Bruce Baird
The Next Generation of the Business of Dentistry – Design Your Future by Choice – Bruce Baird: Ep #400
P.S. Whenever you’re ready, here are some other ways I can help fast track you to your Freedom goal (you’re closer than you think) :
In this episode, we finish up the second part of my interview with Rob Swanson and his eight rules of investing. (If you haven’t listened to part 1, be sure to go back and give that a listen before jumping into this one.) Today, we pick up where we left off, covering rules four through eight and talking about everything from decision-making to cash flow and risk reduction.
Listen in as Rob shares his incredible insight and experience in real estate and investing to give us a few rules that help make our decisions and investments more solid. You will hear about the importance of looking at margins before buying and what boxes need to be checked when it comes to predicting a solid income stream. Rob also discusses how to define and mitigate the different risks involved so that you can come out on top.
Alastair MacDonald is a private advisor to established entrepreneurs, investors, and business owners, as well as a TEDx speaker who lectures on economic, social, and financial forecasts. Join me today to hear part two of our conversation at the Freedom Founders Mastermind, where we dive into the concept of certainty, how to hedge against a volatile economy, and why the abdication model is no longer one that works.
Listen in to learn the reasons why Alastair is not worried about consumer price inflation (and what he’s really worried about instead) and why the 401(k) is not always the investment that it is made out to be. You’ll learn why he is most concerned about the issue of division and polarity in the Western world, why your business is your best asset in a volatile economy, and how you can maintain its viability to weather the most intense economic storm.
1. Get Your Free Retirement Scorecard:
Benchmark your retirement and wealth-building against hundreds of other practice professionals, and get personalized feedback on your biggest opportunities and leverage points. Go to www.FreedomFounders.com/Scorecard to take the 3 minute assessment and get your scorecard.
2. Attend A Workshop:
If you’re committed to Freedom, but still building a practice, paying down school debt, or growing investment capital, our hands-on Freedom Blueprint Workshops are your entrance ramp onto the fast track! Visit www.freedomfounders.com/workshop to claim your seat!
3. Apply To Visit The Mastermind:
If you’d like to join dozens of dentists, docs, and practice professionals on the fast track to Freedom (5-7 years max), visit www.freedomfounders.com/step-1 to apply for a seat.
4. Want to Work Directly with Me?
If you’d like to work directly with me and a small group of my closest investment colleagues, with direct access to the dealmakers and asset classes that I invest in, just send a message to my Executive Assistant (Lindsey@FreedomFounders.com), and put “Fast Access” in the subject line. Or, call (972) 203-6960 Ext 144 and leave a brief voicemail for Lindsey. Let her know you’re interested in the Fast Access program – we’ll set up a time with you to talk, find out about your goals, and see if there is a fit.