Ep 165: The Missing Piece of Your Practice's Financial Strategy

From looming financial pressure to daily operational headaches, dental practice owners are stressed.  And, the solution to daily stress in a dental practice is almost always… better systems. Systems alleviate the need to find unique solutions to every disruption. Put the right system in place and train the team, and many daily snags disappear. Today on the podcast, Dr. John and Wendy are tackling the most common stressors and sharing their systems for smoother, easier days. You'll hear their best recommendations for a more profitable office, a conflict-free team, consistent appointments, and more. At our upcoming Practice Growth Retreat in Dallas, TX, we'll be spending 2 days diving into our most beloved dental practice systems. You'll learn exactly how to fix what's broken and sail into smoother, stress-free operations. We allow a select few non-client guests to attend these events, so if you're interested in joining us, click here to grab a guest ticket: https://www.theteamtraininginstitute.com/guest 

In dentistry, property expense is typically the second-highest expense in the business. In many cases, over the life of a lease, dentists are spending over a million dollars. With that much money on the line, it's important to seriously consider your approach to property negotiation and make sure you're prepared when making these big decisions.   Today, Burt Arthur, a business coach at The Team Training Institute, is joining the podcast to talk about his extensive career in dental and medical real estate. He's sharing his inside perspective on these crucial business decisions to get dentists set up for long-term success. In this episode, you'll learn which factors to consider when deciding whether to rent vs. own, key features to look for in a dental property, and how to find good sources of real estate advice. If your lease is coming up soon, or you have dreams of owning your own commercial real estate, this is a can't-miss episode!

Who do you turn to for smart financial advice? Many dental practice owners face limited options for sound, strategic financial insight. Today on the podcast, Scott Brogi, CFO of The Team Training Institute, is joining us for an important conversation about dental practice financial performance and confident decision-making. In this episode, you'll learn: The key difference between accounting and financial advice How to use industry benchmarks for better decision-making How to find and utilize better financial guidance in your practice How to avoid common missteps in securing bank loans, negotiating the purchase of a practice, and other key business deals As mentioned in the episode, we've also put together a self-assessment tool to help you determine whether you have any financial gaps and how to get the support you need. Download yours for free here: www.theteamtraininginstitute.com/finance-self-assessment-tool 

Forward Science is changing periodontal therapy with its latest innovation, PerioStōm, a non-drug, FDA-approved solution for gum health. PerioStōm contains a unique formulation of Chitosan microspheres, a natural polymer with anti-microbial, anti-biofilm, and anti-inflammatory properties. This triple threat is being used to better treat periodontal disease. Not only is it changing patient health, it's easy to apply and incredibly cost effective. Ellen Myers of Forward Science is joining Wendy Briggs and Dr. John Meis on The Double Your Production Podcast today to talk about the benefits of PerioStōm and the future of preventive and perio care.  Don't miss this fascinating episode! Learn more about PerioStōm and forward science here: https://forwardscience.com/

Like it or not, dental patients are customers, and customers have demands. If the patient experience doesn't impress them, many of them will simply type "dentist near me" into Google and move on to the practice down the street. So, what do patients really want? How can dental practices deliver a world-class experience that fosters lasting patient loyalty? Dr. John Meis and Wendy Briggs are diving into this topic in today's episode of The Double Your Production Podcast. They're sharing insights from other industries to help you dissolve your preconceived notions of customer service and truly elevate the patient experience in your office. As mentioned in the episode, we have a comprehensive Patient Experience Checklist available for you to download for FREE! Get your copy here: https://www.theteamtraininginstitute.com/checklist  And, we'll be sharing our full systems for outstanding appointments at our upcoming Practice Growth Retreat in Boston, July 17-18. If you've never attended one of our retreats before, click here to request a complimentary guest pass and join us: https://www.theteamtraininginstitute.com/guest 

Dr. Kathryn Alderman is a dentist, a business leader, and an AI engineer. With an advanced education and a desire to be on the cutting edge of technology, she holds keen insights into how dental practices can use these emerging technologies to elevate patient care and improve day-to-day operations. Today, she's joining us on the podcast to share her recommendations and her outlook on AI in dentistry.  In this episode, you learn: Which AI tools every practice should be using How AI can be used to improve case acceptance and patient trust The areas where AI tools can help your team (and where AI currently gets in the way) What's on the horizon in the next 2-3 months AI is here, and it's changing the landscape of business and dentistry. Catch this episode to get the latest update.

Are you closely monitoring profitability in your dental practice? Many practice owners find themselves under financial pressure simply because they aren't monitoring the right metrics consistently. Between managing patients, leading a team, and keeping the practice running smoothly, it's easy for financial visibility to take a back seat. Today on the podcast, we're sitting down with Scott Brogi to talk about the most important numbers to watch and why it matters in running your practice. Scott has built an impressive career across banking, corporate finance, and startup fundraising, helping companies secure more than $100 million in capital while making smarter financial decisions along the way. We're excited to welcome him to The Team Training Institute executive team, where he'll be helping practice owners strengthen the financial side of their businesses. Download your FREE Profitability Quick-Calc here: https://www.theteamtraininginstitute.com/profitability-calculator

Preventative care options are virtually useless if patients don't like them, won't say yes to them, or can't utilize them very well. The folks at Solventum know this and are taking preventative innovations to the next level, designing products that are not only more effective, but more widely embraced by patients.  Jen Post from Solventum is joining Wendy Briggs on The Double Your Production Podcast today to talk about these advancements in hygiene care. From new fluoride treatments to sealants to prescription toothpaste, you'll learn about emerging solutions for patients and how to take your care to the next level. There's never been a more exciting time to be in dentistry. Don't miss this special episode. To learn more about Solventum, click here: https://www.solventum.com/ 

Over the past 10 years, Seven Pines Dental Group has seen the kind of growth and success many dentists and teams dream of. Patients love them and care is exceptional. They've expanded locations, added talented team members, and the business went from $2 million in production to a whopping $12 million today. While there are many reasons for their inspiring success, one early shift was a change in the way they approached hygiene care. Today, Dr. Marcel Lambrechts and Kathy Muse are sharing their hygiene story and explaining behind-the-scenes details of how they run the practice. There's so much to learn from Seven Pines, don't miss this special episode.

The ideal future of dentistry is providing patients with immediate care. Imagine if you could eliminate the need for second appointments, avoid lengthy appliance delivery times, and do everything today. This is quickly becoming a reality with SprintRay's advancements in 3D printing. Dentists and teams are now able to provide a wide array of services faster and easier (all while maintaining top quality, which is most important). Today on The Double Your Production Podcast, we're sitting down with John Cox to hear about the innovations at SprintRay. From retainers to dentures to mouth guards and more, you'll learn how new technologies are allowing practices to capture more opportunity in every appointment. Added convenience and fewer appointments make for happier patients whose dental care fits seamlessly into their busy lives. If you are looking to give patients a faster, more cost-effective experience in your office and help them finally say yes to the care they need, don't miss this episode!