Dentist Money

Consultant, coach, practice owner, professor, founder of the Thriving Dentist Show, internationally-acclaimed speaker. Dentists around the globe refer to Gary Takacs by a number titles. We simply call him The Legend. Having worked with over 2,200 practices, perhaps no one is better qualified than Gary to motivate and mentor dentists at every career stage. In this Dentist Money™ interview, he shares a collection of stories and experiences to illustrate how the most successful dentists thrive.   Show notes: www.takacslearningcenter.com Thriving Dentist Show with Gary Takacs: https://itunes.apple.com/us/podcast/thriving-dentist-show-gary/id488260412?mt=2

Ben Tuinei, President of Veritas Dental Resources, has worked with over 6,000 dentists across the country to negotiate fair and reasonable reimbursements from insurance carriers. Using Ben’s 7 Steps of Negotiation, dentists gain leverage against providers to get the highest fee schedules available. In this Dentist Money™ interview, he explains what it means to build an insurance profile, how to overcome payment objections, the procedures most commonly downgraded by insurance companies, and the biggest mistakes dentists make during negotiation.   Website: www.veritasdentalresources.com Contact: ben@veritasdentalresources.com 7 Steps to Negotiating Fees video: https://www.youtube.com/watch?v=Mt1R5UWTgm0

Jordon Comstock is founder of BoomCloud Apps, provider of in-house membership software for dental practices all over the country. Inspired by his deep knowledge of the dental industry, a passion for user interface design, and a book called The Automatic Customer, Jordon built a platform that allows practices to offer, manage, and track a variety of membership solutions for their patients. In this Dentist Money™ interview, Jordon explains how fee-for-service models can work alongside PPO plans to stabilize revenue, expand patient base, and improve retention.

Dr. James Anderson wasn’t wired to follow the traditional path of dentistry. Within a year of starting a practice, he hired his first associate and caught the entrepreneurial bug (or as he calls it, “A.D.D.”). Since then, he started nine successful practices, built one of the largest dental billing companies in the nation, and even opened an arcade. In this episode of Dentist Money™, Dr. Anderson recounts important lessons he’s learned about practice expansion, managing accounts receivable, and incentivizing staff.

If you enjoy the charming sound of a Boston accent and getting advice from one of the dental industry’s most experienced consultants, then you won’t want to miss this episode of Dentist Money™ with Nancy Kagan. Nancy was a hygienist for several years, then formed a temporary dental placement agency before managing two successful practices for over twenty-five years. In 2004, she founded Summit Dental Partners with a mission to make dental practices more efficient and successful. In this interview she talks about keeping your staff accountable, protecting yourself from embezzlement, and what it means to be an “ostrich.”

Social media marketing is an essential part of driving growth for a practice, but a lot of dentists struggle to understand the evolving digital landscape and how to implement a solid online strategy. In this Dentist Money™ interview, Seth Dahle of My Social Practice offers his expert advice for boosting patient counts using social media and other digital channels. He explains ways to improve your online reputation, the most common digital mistakes made by dentists, and how the best dentists get the most out of marketing.

CPAs (and father-son tandem), Don & Dave Mantyla, talk all things taxes and explain the most common mistakes that put dentists at odds with Uncle Sam. They discuss the primary tax problems faced by dentists, the ramifications of making extra debt payments, when equipment write-offs make sense, and how some dentists get caught in a downward cycle of tax avoidance.

Heather Colicchio is Founder & President of the American Association of Dental Office Managers — the largest association for dental business teams in the country. In this episode of Dentist Money™, Heather shares the philosophies behind her company’s mission to strengthen dental practices by maximizing the talents of office managers. She offers considerations to make when hiring an office manager, explains the types of training you should invest in, and gives advice for empowering office managers to lead successful practices.

Reese interviews Dr. Richard Engar, former clinical dentist of ten years, and current CEO of Professional Insurance Exchange. Dr. Engar draws from decades of experience to explain how dentists can prevent unnecessary malpractice claims from putting their wealth and reputations at risk. He also offers advice for dealing with malpractice threats, describes the most common (and most expensive) types of claims, and highlights the one thing you should never do in the face of a malpractice settlement.

Weston Lunsford, CEO of Dental Intel and self-diagnosed “data geek,” breaks down the numbers behind successful practices and offers a simplified solution for measuring progress. He also explains the meaning of proactive planning, four categories of money making, the impact of broken appointments, and why certain dentists struggle to reach standard benchmarks.

Practice transitions expert, Randon Jensen of CTC Associates, stops by to discuss the most important considerations to make before buying or selling a practice. Topics include managing expectations, structuring the deal, and getting proper representation. Randon also shares a few stories to highlight the most common mistakes he’s observed in his 17 years of working in the dental industry.

Jason Wood is a partner at Wood & Delgado and one of the nation’s premier attorneys for dentists. Having worked with thousands of dentists, he has become an authority on practice-related transactions. In this industry expert edition of Dentist Money™, Jason describes the role of a good attorney during acquisitions and transitions, the important considerations to make when buying a practice, and the monetary implications of a DSO career path.

Mike Alder, CEO of Unitas Dental, joins Reese for this episode of Dentist Money™ recorded on location at WRDC in Phoenix. Mike’s firm specializes in helping dentists sustain viable topline growth through managing third party payor relationships. In this interview, he explains how to keep your rates in check, benefit from insurance company partnerships, and set your prices.

Great Britain’s referendum to leave the EU triggered an historic week for financial markets and drove significant losses for some investors. There’s no shortage of speculation about “Brexit’s” long term ripple effect and the timeline for recovery. In this episode of Dentist Money™, Reese & Ryan share reaction from some of the financial industry’s top advisors and offer guidance for protecting your own portfolio against major downturns.

Dentist Money™ welcomes financial expert, Doug Carlsen, who retired comfortably from dentistry at age 53. Dr. Carlsen is a nationally renowned speaker and has been a regular contributor for publications like Dentaltown and Dental Economics. In this episode, Reese and Doug compare notes and discuss the biggest factors that lead to financial longevity for dentists.

In this special episode of Dentist Money™, Reese interviews industry thought-leader, Howard Farran — arguably the most influential personality in dentistry. Howard is a successful practicing dentist, MBA, CEO of dentistry’s largest media company, internationally recognized lecturer, and bestselling author. In this interview, Howard gives his candid take on the most common financial mistakes made by dentists and offers some words of advice for managing debt, improving profitability, working with consultants, and achieving work-life balance.

Breaking news: if you’re a dentist, you’re smart. When the rest of us sit in your chair, it’s nice to know your supercharged brain got you through all those science classes, entrance exams, and the rigors of dental school. But does that mean you should tackle every business and financial decision on your own? The most successful dentists build a team of experts to advise them regularly on matters of business and finance. In this episode of Dentist Money™, Reese & Ryan provide a list of the most important people a dentist should have on his/her advisory board.

Dentists are often approached by life insurance brokers to purchase life insurance as a retirement savings plan. Whole life, variable life, or universal life. What are the arguments for using these types of policies? What are the arguments against them? In this episode of Dentist Money™, Reese and Ryan provide a fresh perspective on how dentists can approach life insurance decisions with more confidence.

Unless you happened to live in 18th century Western Europe, you might not understand how the modern economy was born - or even who the father was. It’s a fascinating tale of deception, greed, pirates, and a Scottish visionary who borrowed French vocabulary. Plus it provides a great foundation for understanding financial markets. In this episode of Dentist Money™, Reese & Ryan discuss the evolution of public markets and how they can work in your favor.

According to a recent article in Bloomberg magazine, gold prices have rallied and investors are piling back into gold in droves. On the heels of a four-year price decline, gold seems to have regained its luster and many are enticed by the prospect of striking it rich. But do they know what’s under the surface of all the media hype? In this episode of Dentist Money™, Reese & Ryan provide some valuable nuggets of wisdom about investing in gold.