The Power of Real Estate and Practice Ownership

Dr. Marc Soelberg is a pediatric dentist who recently did a scratch start in Post Falls, Idaho. After several years of associating without a partnership offer, Dr. Soelberg decided to open his practice in a growing rural town in northern Idaho. In this episode, we talk all about what opening a practice in 2024 looks like. He shares his challenges with obtaining a loan big enough to cover the cost of an office that's a functional size. We also discuss what marketing strategies worked best to obtain new patients, along with sharing some mistakes he made along the way.

Dr. Reed Faldet is a young dentist and entrepreneur who has built an 8-figure commercial real estate portfolio. He has transitioned out of full time dentistry to focus on real estate. We have a great discussion all about real estate, including the following topics: - How has the market for commercial real estate changed? - When does it make sense to lease a practice space compared to buying and building? - What options are there if you don't have the cash for a down payment? - How does lending work for practice loans? - What are the tax benefits to owning real estate, and how does depreciation work to lower taxable income? Dr. Faldet also helps partner and mentor with dentists looking to purchase their real estate but who need help along the way. His email is [email protected]

Dr. Kevin Kennedy is a pediatric dentist and practice owner from Clarksville, Tennessee. He fostered and adopted three kids during his pediatric residency before having biological children of his own. This experience really opened his eyes to the complexities and challenges of kids who have experienced loss, or as Kevin defines it "kids from hard places." Dr. Kennedy shares his story and gives listeners some advice on how to care for these kids and communicate better with their parents.

This episode is all about pediatric dentistry in Canada! I'm joined by four awesome docs: Drs. Sara Werb, Shuran Liang, Nikhil Sharma, and Priya Kothari are all amazing pediatric dentists and each have their own unique experiences that they share with us. Some of the topics we discuss: - What does Canada's administration of dental care look like? Is it similar to Medicaid? - Certain materials that are and aren't allowed in Canada (Bioflx!?) - What does it take to get a dental license in Canada? Are there any residency programs? - What are the challenges to practice ownership, and how are employee rights/benefits different than in the US?

Dr. Donny Qafleshi is a pediatric dentist in Indiana. He comes on to share some of his personal and professional experiences as an immigrant, a dad, and a pediatric dentist. Some of the things we discuss: -Dr. Donny's journey to the United States as a child to escape war - How to know when a practice partnership is the right choice - How many kids a day is a sustainable amount to see without burning out? - Internalizing emotions as a pediatric dentist and a new parent - Working on mindfulness and techniques to prevent work anxiety

Dr. Nick Luke is a pediatric dentist, originally from Iowa but now practicing at a busy office in Wisconsin. Dr. Nick is a big fan of finding creative ways to follow the guidelines and literature while also creating a fun experience for his patients. In this episode, we discuss: - Why Wisconsin is awesome - Hall crown philosophy and techniques - MTA usage in pulpotomies - Caries removal and biofilm control - How being a dad and work-life balance go together

Dr. Jay Leung is a pediatric dentist and owner at The Little Tooth Company Pediatric Dentistry. He practices and runs two offices with associates in Connecticut. Dr. Jay comes on the show to share his experience of being audited by Medicaid. After receiving a daunting letter in the mail and being threatened with some hefty penalties, Dr. Jay was able to use legal help and great documentation to defend and protect himself. He gives listeners some pointers and advice in the event an audit ever happens to them.

Dr. Art Nowak has been practicing pediatric dentistry since the mid 1960's, back when there were only seven residency programs. He taught pediatric dentistry at the University of Iowa for almost 50 years, during which he published "Infancy Through Adolescence." This textbook is a staple in our profession, and Dr. Nowak literally "wrote the book" on comprehensive pediatric dentistry. We have a great discussion on how pediatric dentistry has changed through the years. Dr. Nowak expresses his concerns that we have commercialized pediatric dentistry and moved away from focusing on prevention and treating the whole patient. Dr. Nowak continues to stay busy and he is excited to release his newest edition of the textbook sometime next year.

Dr. Kristine "Love Peace" Grazioso is a pediatric dentist with a large practice in Massachusetts. She practiced for years as contracted provider with Delta, Blue Cross Blue Shield, and Medicaid. In 2020, she made the decision to drop all insurances and go completely FFS, in order to provide better care for her patients. Even though she practices in a competitive area, her practice is busy and thriving. Dr. Grazioso shares her story about how she made this transition. She gives pointers and advice to other pediatric dentists who are interested in going OON with dental insurance plans. Dr. Grazioso has used her experience as a springboard to provide consulting and coaching services to other pediatric dentists who want to fight against being handcuffed to dental insurance companies.

You see it all the time on iPedo... "I'm tired of my associate job and I want to start my own practice, but I'm not sure where to start." It's no surprise that a large void exists for knowledge and content relevant specifically for pediatric dentists who want to start their own practice. Well we have some huge news to share on the podcast today. For the last 6 months, Dr. Corey Hastings and I have been working tirelessly on building a comprehensive course specifically for pediatric dentists who want to start their own practice. We are super excited to roll out Little Smiles Practice Mastery, an online video lecture series that walks you step-by-step through the startup journey. This "power pediatric dental MBA" has almost 15 hours of lecture material, along with all needed spreadsheets, forms, attachments, and paperwork you need to jump-start a practice. All of this in a low-cost subscription platform that is available on-demand whenever you need it. On today's episode, Corey and discuss the benefits of practice ownership over a cold beer. We review why we made this course, what all is included, and why we believe most pediatric dentists can build an awesome practice without spending a fortune on a consulting company. Make sure to stop by our booth at AAPD to get on our mailing list, or visit www.pediatricdentalmba.com. We anticipate the course to go live early this summer and we are so excited to give other dentists the tools they need to achieve their practice goals.