Bulletproof Dental Practice

The Bulletproof Dental Podcast Episode 345   HOSTS: Dr. Peter Boulden and Dr. Craig Spodak GUESTS: Dr. Trey Tippit and Dr. Dwight Peccora   DESCRIPTION In this episode, our Fearsome Four is back in full force as we discuss the state of dentistry in 2024 based on data from Dental Intel. We explore topics such as the stability of practices, the impact of inflation on the industry, and the increase in cancellations and no-shows. We emphasize the importance of tracking key performance indicators (KPIs) and implementing strategies to improve patient engagement and reduce no-shows. We also highlight the need for dentists to focus on their mental and emotional well-being to navigate the challenges of running a dental practice.   TAKEAWAYS The state of dentistry in 2024 shows a stratification, with top performers doing better than ever and bottom performers struggling. The average practice is experiencing more cancellations and no-shows than ever before, which can be attributed to factors such as lack o

The Bulletproof Dental Podcast Episode 344 HOSTS: Dr. Peter Boulden  GUESTS: Dr. Trey Tippit and Dr. Dwight Peccora   Join us as we break down the well know Harvard Business Review: "Who's got the Monkey" and apply it to the world of delegation, boundaries, and time management in the dental practice. We explore the concept of 'monkeys' - those pesky tasks or problems we delegate to others - and provide invaluable insights on effective delegation strategies and problem-solving techniques. From setting clear expectations to fostering open communication, we'll uncover the keys to preventing monkeys from taking over your work life. Get ready to empower yourself and your team to tackle challenges head-on while maintaining a healthy work-life balance.   TAKEAWAYS Delegation is essential for effective management and growth in any organization. Setting boundaries and managing expectations are crucial for preventing tasks and problems from becoming overwhelming. Clear communication and time management are ke

The Bulletproof Dental Podcast Episode 343 HOSTS: Dr. Peter Boulden and Dr. Craig Spodak   TAKEAWAYS Comprehensive diagnosis is essential, but effective delivery of treatment plans is equally important. Recording consultations can help dentists improve their presentation skills. Fear of rejection and discomfort can hinder effective enrollment. Empathy and understanding the patient's perspective are crucial in the enrollment process. Body language and context play a significant role in treatment presentations. Use patient-benefited language and avoid technical jargon to effectively communicate with patients. Record frequently asked questions and provide videos or resources to patients prior to consultations. The belief set and confidence of the doctor are important factors in patient acceptance. Storytelling and leadership can engage patients and build trust. Avoid talking to patients in a supine position and consider using consultation rooms for treatment presentations. Establish a smooth pat

The Bulletproof Dental Podcast Episode 342 HOSTS: Dr. Peter Boulden GUESTS:  Dr. Trey Tippit and Dr. Dwight Peccora   TAKEAWAYS Understanding the differences between acquisitions and startups is crucial in making informed decisions. Financial factors such as revenue, debt-to-revenue ratio, and cash flow play a significant role in acquisitions. Operational efficiencies and utilization rates are key metrics to consider in underperforming practices. Determining the purchase price based on body count can help in evaluating the value of an acquisition. Body count, or the active patient count, is an important metric to consider when evaluating an acquisition. Different metrics, such as average production per patient visit, can provide insights into the efficiency of a practice. Addressing attrition and periodontal disease is crucial in maintaining patient retention and improving overall oral health. Using effective verbiage and communication techniques can help navigate uncomfortable conversations wi

The Bulletproof Dental Podcast Episode 341 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUESTS:   Dr. Trey Tippit and Dr. Dwight Peccora   TAKEAWAYS AI has the potential to revolutionize dentistry by analyzing documents and providing financial insights. Dentists can benefit from AI tools like chat GPT and copilot for financial management and analysis. Business education is crucial for dentists to succeed in managing their practices and making informed financial decisions. The transition from clinical dentistry to business ownership requires a shift in mindset and the acquisition of business skills. Minimizing student loans and financial planning are essential for dentists to achieve financial freedom and career opportunities. Debt can be a useful tool for dentists, but it requires a strategic mindset and the ability to manage it effectively. Board complaints are a common occurrence in dentistry and should not be seen as a reflection of a dentist's skills or abilities. Malpractice insurance p

The Bulletproof Dental Podcast Episode 340 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUESTS:  Randy Smith   TAKEAWAYS Quality sponsors are crucial in real estate investments to ensure success and minimize capital loss. Investing in real estate should be a long-term strategy focused on steady cash flow and high-quality deals. Diversification is important in real estate investing to spread risk and maximize returns. Tax advantages, such as depreciation, make real estate investing an attractive option for wealth accumulation. Supporting charities, such as Warrior Sailing, can provide a sense of fulfillment and make a positive impact.   Chapters 00:00 - Introduction and Favorite Places 00:30 - Different Types of Real Estate Investment 05:42 - The Challenges of Direct Ownership 08:20 - Why Real Estate is a Wealth-Building Asset 09:16 - Different Types of Real Estate Investments 21:47 - The Importance of Diversification 23:34 - The Risks and Rewards of Real Estate Investing 27:48 - Educa

 The Bulletproof Dental Podcast Episode 339 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUEST: Brian Colao   TAKEAWAYS The dental industry is experiencing a shift towards same store growth as M&A activity becomes more constrained. Understanding your EBITDA is crucial for practice growth and valuation. Culture plays a significant role in practice value and patient satisfaction. Innovation, technology, and AI are driving same store growth and improving patient care. Joining a DSO can provide dentists with more opportunities for career advancement and financial stability. Working for a DSO can provide greater job security and protection against unpaid wages compared to private dental offices. DSOs have better quality control measures in place, ensuring a higher standard of care for patients. The dental profession is expected to become more consolidated, with DSOs accounting for a larger percentage of practices. As consolidation increases, valuations are likely to rise due to decreased su

The Bulletproof Dental Podcast Episode 338 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUESTS:  Ophir Tanz   TAKEAWAYS Ophir’s introduction and background Applying powerful technology to industry Identify early to treat accurately Quality care beings with accurate diagnosis AI can help dentists accurately diagnose conditions such as caries and periodontal lesions. AI tools can enhance patient communication by providing visual aids and animations. The future of dentistry will likely involve the integration of AI into routine dental practice.   CHAPTERS 00:00 - Introduction and Background 02:04 - The start of Pearl AI 06:25 - The need for AI in dentistry and the impact of AI in diagnosis and treatment acceptance 08:13 - Using AI to improve patient communication 09:33 - The importance of accurate diagnosis 19:11 - The future of dentistry and AI 25:11 - The Importance of Addressing Tooth Wear 28:00 - The role, future, and impact of AI in Dentistry 37:19 - The Role of AI in quality ass

The Bulletproof Dental Podcast Episode 337   HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUESTS: Trey Tippit and Dwight Peccora   TAKEAWAYS Exploring innovative ideas can lead to improvements in dental practice. Dentistry as a service can enhance the patient experience and create a stronger connection with the practice. Self-service dental offices can provide convenience and efficiency for patients. Personalized video outreach can help retain patients and improve communication. Addressing the issue of consolidation in the dental industry can benefit dentists and promote independent practices. Incentivizing the dental team for results can help maintain growth and motivate employees. Utilizing a real-time incentive and bonus structure app can provide employees with up-to-date information on their performance and encourage them to achieve their goals. Implementing a dashboard for real-time tracking can help dental practices monitor key performance indicators and make data-driven decisions. Ga

The Bulletproof Podcast Episode 336   HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUEST: Dr. Trey Tippit   TAKEAWAYS Building trust within a dental team is crucial for effective communication and collaboration. Addressing conflicts directly and openly can lead to better understanding and resolution. Commitment to the practice's goals and values is essential for team members to work together effectively. Creating a culture of accountability helps ensure that everyone takes responsibility for their actions and tasks. Decentralization and accountability are essential as a practice scales. Inattention to results can lead to stagnation and failure to grow. Motivating the team and creating alignment are crucial for success. Working on the business and involving the team are key aspects of effective leadership. Chapters 00:00 - Introduction and Mastermind Retreat 05:57 - Common Themes in Dental Practices 08:21 - Absence of Trust 15:48 - Fear of Conflict 20:29 - Lack of Commitment 26:54 -

The Bulletproof Dental Podcast Episode 335 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak   GUESTS:  Leo and Zach   TAKEAWAYS Dentists should have a basic understanding of SEO to avoid being taken advantage of by outside vendors. User experience is a crucial factor in SEO, and dentists should focus on providing a seamless and valuable experience for their website visitors. AI is becoming increasingly important in SEO, but it should be used as a tool for curation rather than a replacement for human input. Dentists should be cautious of plagiarized content and strive to create original and valuable content for their websites. User experience and authority are crucial for generating valuable content. Strategic marketing, which considers the synergy between different elements, is more effective than tactical marketing. The four metrics to measure marketing success are: more eyes on the content, click-through rate, conversion rate, and sales. Mastering topical relevance is essential for improving search

The Bulletproof Dental Practice Podcast Episode 334   HOSTS: Dr. Peter Boulden & Dr. Craig Spodak     TAKEAWAYS The dental industry is facing challenges such as a wage gap between dentists and hygienists, a changing market outlook, and the need to adapt to new technologies and consumer preferences.   Convenience, technology, and marketing play a crucial role in the success of dental practices, and the use of AI and automation can provide a competitive advantage.   The future of dentistry may involve a shift towards a hybrid model of acquisitions and de novos, with an emphasis on adding organizational value and creating a differentiated brand.   Partnerships can be beneficial if the right partner is chosen, but it is important to carefully consider the terms and goals of the partnership.   Job opportunities in dentistry exist, and dentists should consider their own goals and values when deciding on their career path.       REFERENCES Bulletproof Summit Bulletproof Dental Practice

  The Bulletproof Dental Practice Podcast Episode 333 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak     TAKEAWAYS Recognize the difference between real goals and mere wishes by observing changes in physiology. Set specific and challenging goals to engage the brain's dopamine circuitry. Write down goals in your handwriting to activate ancestral neural pathways. Keep goals to yourself to avoid premature dopamine release and maintain motivation. Visualize both success and failure to increase the likelihood of goal achievement. Take advantage of peak motivation times, which occur 30 minutes, three hours, and 11 hours after waking. Set moderately challenging goals and break them into 12-week tranches for increased motivation and progress. Overcome procrastination by committing to five minutes of focused work on a task.       REFERENCES Bulletproof Summit   Bulletproof Dental Practice    

The Bulletproof Dental Podcast Episode 332   HOSTS: Dr. Craig Spodak GUEST: Dr. Linda Edgar   KEY TAKEAWAYS Introduction Dr. Edgar’s journey to becoming the ADA President The role of the ADA ADA is focusing on improving connections, collaboration, and communication Forsyth Institute Merger What the ADA does for you including product testing, research, and insurance legislation MLR Legislation and the Non-Covered Services Bill Is there insurance and/or DSO influence on the ADA? The rising cost of attending Dental School Repayment loan programs Ambassador Program DSO Improvements Emphasis on wellness Webinars on-demand ADA’s response to COVID Craig’s feedback     REFERENCES American Dental Association Dr. Linda Edgar Bulletproof Mastermind  Bulletproof Summit  Mighty Networks: Bulletproof Dental Practice     TWEETABLES  

The Bulletproof Dental Practice Podcast Episode 331 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUESTS: Dr. Trey Tippit & Dr. Dwight Peccora   TAKEAWAYS Introduction Bulletproof Summit is launched The learning and implementation of new skills Methods of deployment within each office Delegating from a position of knowledge Do you want to be important or do you want to be successful Strategy versus Operations Letting go of control creates opportunity for others Centralization of services Financial gains to splitting up your company Is a management company right for you? REFERENCES Bulletproof Summit 2024 Bulletproof Mastermind  Mighty Networks: Bulletproof Dental Practice   TWEETABLES Don't compare your chapter one with someone else's chapter 10 - Dr. Craig If you treat people as they currently are, you make them worse. If you treat people as they could be, you help them to become what they are capable of becoming - Dr. Craig

The Bulletproof Dental Podcast Episode 330 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUESTS: Dr. Trey Tippit & Dr. Dwight Peccora   KEY TAKEAWAYS Introduction Dr. Craig the Dental Whisperer Do your research before hiring a marketing company Ebbs and flows within the business cycle Pre-appointment rate versus Re-appointment rate Production Per Visit Utilization Rate Treatment acceptance percentage Net Growth KPI Tracking Data-driven versus emotional decision-making Treatment coordinators and the great debate Automation within your practice Dental Practice Manager Software   REFERENCES Outlive: The Science & Art of Longevity by Peter Attia Bulletproof Mastermind  Bulletproof Summit  Mighty Networks: Bulletproof Dental Practice   TWEETABLES When you arm yourself with a little bit of know-how, it lets you not be so vulnerable - Dr. Boulden  

Bulletproof Dental Podcast Episode 329 HOST: Dr. Sully Sullivan GUEST: Dr. Craig Spodak TAKEAWAYS The mental and emotional cost of growth to your team Be an observer of your character to build leadership ability The distinction between owning a practice and owning a business Having intentionality and clarity The importance of friends that will challenge you Freedom and economics to create via dentistry   REFERENCES Bulletproof Mastermind  Bulletproof Summit  Mighty Networks: Bulletproof Dental Practice  

Bulletproof Dental Podcast Episode 328 HOST: Dr. Craig Spodak GUESTS: Dr. Trey Tippit & Dr. Dwight Peccora KEY TAKEAWAYS Introduction Working in the practice versus on the practice Profit is not a dirty word The concept of leverage and creating leverage through revenue Entrepreneurial profit Coaching, developing, and being accountable for your team’s success Delegation and empowering others Leveraging through other people Entrepreneurial profit, assets, and wealth Formula One concept Being driven by excellence as a dentist Checking in with your team As a leader, everything you say is amplified to your team Everyone is allowed to make mistakes as long as you clean up the mess REFERENCES Bulletproof Mastermind  Bulletproof Summit  Mighty Networks: Bulletproof Dental Practice

Bulletproof Dental Practice Episode 327 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUEST: Chandler Wrightenberry KEY TAKEAWAYS Introduction Macroclimate Lending Capacity Interest rates What is the bank's appetite for dental versus other categories of loans? Regional bank loan Traditional financing Whatever your rate is, it is tax deductible.  Interest Payments Non-Cash assets Rising interest rates affect the valuations of everything Live Oak Bank REFERENCES Bulletproof Mastermind  Bulletproof Summit  Mighty Networks: Bulletproof Dental Practice

Bulletproof Dental Podcast Episode 326 Hosts: Dr. Craig Spodak & Dr. Trey Tippit  Guests: Dr. Simone Ellis    KEY TAKEAWAYS Introduction Dr. Simone and Dr. Trey  Dental Economics Automobile University by Zig Ziglar Dr. Simone’s story Celebration is everything Personal accountability Have it your way, three currencies in life The Flex is freedom Work-life balance and cultivating peace   REFERENCES Bulletproof Mastermind  Bulletproof Summit  Mighty Networks: Bulletproof Dental Practice Dr. Simone Ellis   TWEETABLES As an entrepreneur, you don't know what you don't know until you don't know it -Dr. Simone