Financial Flossing

• Ep 141: Revamp Dental Hiring: Talent First Approach

  How can dental practices revolutionize their hiring process to ensure they bring in top talent aligning with their team's values and culture?In this enlightening episode, we delve into the innovative approach of Dr. Michael Neal, a visionary optometrist and the brain behind Build My Team, a program that changes the hiring landscape in dental practices. By shunning traditional resume-based hiring, Dr. Neal advocates for a talent and strengths assessment method, ensuring practices can onboard individuals who are qualified and fit culturally and skill-wise. From discussing the inefficacies of conventional hiring to revealing the transformative power of focusing on natural talents and automated systems, this episode is a treasure trove of insights for any dental practice looking to enhance their team performance and patient satisfaction.Key Takeaways:✅ Assessing candidates based on natural talent and learning abilities can dramatically reduce turnover rates and boost team performance.✅ Emphasizing talent certainty and responsiveness in the hiring process is crucial for efficiently filling positions in dental practices.✅ Leveraging technology with automated hiring systems can streamline recruitment, quickly filtering applicants based on strengths.✅ High-performing team members ('A players') significantly improve patient experience and the overall success of the practice.Notable Quotes from Michael:●"We were hiring essentially upside down and backward." 🔄●"The cultural change was nothing short of transformative... Now it's fun, enjoyable, virtually no stress, and the team runs the practice." 🌟●"With our system, we don't look at resumes until the very bitter end of the process... when we know these people are fantastic." 📄How to Reach Michael:Interested in learning more about Dr. Michael Neal’s innovative approach to hiring and Build My Team? Connect with him through:●Website: Build My Team●LinkedIn: Dr. Michael Neal●Twitter: @BuildMyTeamDon't miss out on the opportunity to transform your dental practice by prioritizing strengths, talents, and a seamless hiring process! 🚀Learn more about your ad choices. Visit megaphone.fm/adchoices

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• Ep 140: Master Sustainable Growth & Operational Excellence

  How can dental practices transcend the ordinary and achieve extraordinary growth and efficiency?Dive into dental practice transformation with Melinda Heryford, MBA, a seasoned practice management consultant with over three decades of experience in dentistry. Starting her journey at 14, Melinda has dedicated her career to guiding dentists and their teams toward unparalleled success. Her boutique consulting practice is a beacon of continuous growth and excellence, helping comprehensive care dentists achieve and surpass their goals. In this episode, Melinda shares her wisdom on leveraging consulting services to catalyze growth rates of 20-25% and beyond, ensuring practices thrive and lead in their domain.Key Takeaways:✅ Practice Management Consultants are pivotal in steering dental practices toward growth and operational excellence.✅ A focused approach can yield growth of 10% as a baseline, with well-implemented systems pushing numbers to 20-25% or more.✅ Continuous improvement and strategic planning in patient retention, treatment acceptance rates, and team alignment are essential for sustained success.✅ Comprehensive care dentists zealously for growth and improvement are the ideal candidates for impactful consulting.✅ Implementing systems and schedules meticulously can significantly enhance productivity and patient care, propelling dental practices to achieve and exceed their financial goals.Quotes from Melinda:➡️ "What does it take to have a practice grow year over year? What are the things that make it thrive? And then how do you build and keep a team?" - Melinda Heryford➡️ "If we don't have a focus beyond patient care, the practice tends to stagnate or be chaotic... Having a focus and team alignment behind that focus creates better results and unstoppable momentum." - Melinda Heryford➡️ "I used to have 44 systems... Imagine I walk into your practice and say, 'It’s your day today. I have 44 systems to impart on you.' What do you think they thought?" - Melinda HeryfordHow to Reach Melinda:To learn more about Melinda Heryford’s consulting services and to witness the transformation she can bring to your dental practice, visit her website at Practice Management Consulting https://practicemanagementconsulting.com/ Link to the free Downloadable Offer mentioned in the podcast: https://bit.ly/Statementless_PracticeLearn more about your ad choices. Visit megaphone.fm/adchoices

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• Ep 139: Dental Excellence: Mergers & Mentorship Insights

  🤔 "Ever wonder how the best dental practices keep growing in today's competitive landscape?"Join us on Financial Flossing as Ross Brannon chats with Dr. Kevin Kremer about dental practice growth and personal development dynamics. Dr. Kremer shares invaluable insights from his extensive experience, focusing on the significance of strategic mergers, mentorship, and continuous learning in the dental industry.Key Takeaways:🌟 Strategic mergers are essential for scaling dental practices.🎓 Mentorship is a powerful tool for personal and professional growth.🚀 Specialized services significantly enhance patient satisfaction and practice profitability.🔄 Embracing change and continuous learning are key to staying ahead in the competitive dental industry.🤖 Navigating the DSOs and private equity landscape requires a careful strategy to maintain autonomy while growing.Connect with Dr. Kremer:For more insights or to explore mentorship opportunities with Dr. Kremer, reach out at kevinkremer.com; kremerleadership.com; kremerdental.comLearn more about your ad choices. Visit megaphone.fm/adchoices

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• Ep 138: Shielding Dentists' Assets: Strategies and Laws

  Are you a healthcare practice owner navigating the complexities of financial planning and asset protection? Today’s guest on Financial Flossing with host Ross Brannon is Eric Miller, co-owner of Econologics Financial Advisor, revealing why traditional investment options might not be enough and how diversified portfolios, including real estate and insurance products, can safeguard your financial future.In this episode, Eric Miller delves into the importance of asset protection strategies for healthcare practitioners, advocating for a diversified investment approach to achieve financial independence. He underscores the significance of real estate, insurance-based products, and private placements while highlighting the critical role of comprehensive financial planning in protecting against lawsuits, taxes, and inflation.Key Takeaways: 🔑 The significance of setting up a separate wealth storage account to enhance net worth and cash flow. 🔑 Utilizing state laws, business entities, and proper asset titling as essential asset protection strategies. 🔑 The value of Tenants by the Entirety in asset protection for married couples. 🔑 The importance of clear financial goals and strategic steps towards financial independence. 🔑 Resources available at Wealthfordentists.com to bolster business management skills for dentists. 🔑 The impact of compensating oneself as a risk-taker in creating retirement reserves.Quotes from Eric:•"If you can't measure it, you can't manage it."•"Your household should be looked at as your parent company."•"You have to make sure that you expense your profits. They have to be treated just like an expense."•"The highest rate of return you're ever going to get is investing in your business."Remember, achieving financial independence as a healthcare practice owner requires more than saving; it demands a strategic investment and asset protection approach. Learn how Eric Miller's insights can transform your financial planning process.Website: www.econologicsfinancialadvisors.comFree Giveaway & CTA: URL: www.wealthforpracticeowners.comName: Practice Expansion Checklist Social Media:YouTube - https://www.youtube.com/c/FinancialBeastFacebook - facebook.com/econologicsfinancialLinkedIn - linkedin.com/in/ericisyourbfff Learn more about your ad choices. Visit megaphone.fm/adchoices

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• Ep 137: Improve Dental Office Marketing Efficiency & Growth

  Are you a dental professional looking to skyrocket your practice's growth and marketing strategy? Gary Byrd, the founder of SMC National and a luminary in dental marketing, shares his groundbreaking insights on transforming dental practices into thriving businesses.In this episode, Gary Byrd delves into the nuances of dental marketing and business growth, revealing how strategic marketing, efficient operations, and entrepreneurial skills can lead to unparalleled success in the dental industry. From the significance of patient education and insurance acceptance to the critical analysis of patient mix and operational challenges, Gary unpacks the elements essential for dental practices to thrive.Key Takeaways:✅ Marketing strategies are crucial for patient acquisition and treatment acceptance.✅ Understanding patient mix, insurance payments, and visit frequency is key to marketing effectiveness.✅ Patient education is a significant revenue maximizer.✅ Operational efficiency is often the stumbling block for dental offices.✅ Addressing unanswered calls and optimizing marketing and sales strategies can overcome industry challenges.✅ Dental practices must evolve by addressing capacity and capability issues.✅ A diverse skill set in entrepreneurship, leadership, and clinical skills is necessary for success.Quotes from Gary:•"I really believe that if you focus on helping other people get what they want, you'll always get what you want as a byproduct."•"If you're spending $10,000 a month on marketing and you don't answer the phone 35% of the time, you're going to lose $3,500 of those opportunities down the drain."•Gary is the founder and Managing Partner of SMC. He is responsible for attracting new patients for DSOs and dental groups. Additionally, he hosts four podcasts that cover various topics related to the dental industry. “Dental Marketing Goat” provides practical marketing advice, while “Full Arch Advantage Podcast” focuses on how to close more full arch cases. “Dental Rift” is a weekly show that discusses current trends in the dental industry, and “Dental Marketing Theory” features weekly interviews with top dental executives and entrepreneurs, providing valuable insights into the latest industry trends.How to Reach Garyhttps://linktr.ee/thegarybirdhttps://www.linkedin.com/in/thegarybird/https://smcnational.com/webinars/https://thegarybird.com/Learn more about your ad choices. Visit megaphone.fm/adchoices

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