This episode pertains to every type of dentist, owner, and associate out there. No matter how you run your business, whether or not you are looking to expand, or how many chairs you have in your practice. Today we’re talking about the value of a chair.
Leaning into the value of a chair was really eye-opening. Each chair has a ton of potential but you have to break it down by its use. Who is using the chair and for how long? What is being done in that chair? What’s the overhead for each?
Listen to this episode to learn how to break these numbers down to get a good look at the big picture and the potential your practice has for growth. You’ll also learn how to avoid the hamster wheel and how to maximize the value of a chair.
Show Notes:
[02:03] - What is a typical hygiene chair worth and what is the potential of a doctor’s chair?
[03:28] - Sully believes in one doctor, one chair.
[05:53] - What is the cost of the overhead for each chair?
[08:01] - We can break down the money produced by each chair.
[11:17] - Sometimes we get on this hamster wheel by hiring more hygienists to bring in more clients.
[13:19] - The true value of the hygienist in the rapport they build with patients.
[15:02] - The plan is not to exceed five hygiene chairs.
[16:50] - Sedation is something else to consider in order to get more done in less time.
[18:27] - Let’s break down the value of each chair in a practice.
[21:22] - General practice is a great base, but the growth is in specialty dentistry.
As always, thanks so much for listening! If you like the show, we would love for you to review the show on Apple Podcasts as well as spread the word! If you have any questions or want to get in touch, shoot me an email at millennialdentist@gmail.com.
Links and Resources
Richard Sullivan, DDS
Partner, Sullivan Dental Partners
Co-host/Founder of the Millennial Dentist Podcast
http://www.millennialdentist.com
c. (615)574-8208
w. (615)373-1012
Visit Us On Social Media
The Millennial Dentist Website
@Millennialdentist on Facebook
Dr. Sully…@Millennialdentist on Instagram
It’s important to take a close look at metrics. They are important tools to use when making decisions. But the metrics you look at and the goals you set around them all depend on how you run your practice.
There was a recent article penned by Mike Abernathy around KPIs for your practice. Mike joins the Millennial Dentist Podcast to talk about the points in the article and to share his experience in the field. There are some areas of agreement and disagreement and no matter where you are in your practice development, this episode has a lot of great takeaways.
Ultimately, the goals you set are up to you. You can set lofty goals, but make sure they are attainable. But don’t sell yourself short and set mediocre goals when you can do so much more.
Show Notes:
[01:11] - Mike Abernathy shares his background and how he got started in dentistry.
[02:42] - There are hundreds of articles on a site that Mike shares and some he has authored.
[05:07] - The way you run your practice dictates the metrics you look for.
[07:51] - First, Mike looks at profitability.
[10:52] - Sully and Mike go through some numbers and compare to average practices.
[14:56] - What happens to numbers when another doctor is hired?
[17:01] - In a one doctor practice, Sully wears several hats and explains the metrics.
[20:40] - Feed your associate first.
[22:57] - You have a ceiling based on supply and demand.
[25:40] - How can we have incremental growth?
[27:42] - The type of patients you attract makes a huge difference when it comes to growth.
[29:28] - Demographics do make a difference, but Sully’s people skills have driven more business.
[31:51] - Mike believes in setting realistic goals for each individual but Sully believes that setting a goal for mediocrity isn’t beneficial.
[34:32] - Sully points out a metric goal that he doesn’t agree with.
[37:00] - You can’t always make people want what they need.
[39:10] - A lot of times, we are reluctant to offer the things patients need based on the cost.
[41:06] - The decisions you make today are important for the future of the business.
[44:36] - Dentistry has evolved significantly in the last few decades.
[47:43] - It’s about new patients and capacity both in staffing and in facility.
[48:19] - Sully attributes a lot of his success to his idea of replacing himself.
[51:34] - If all the doctors in the office are doing specific procedures, you will need to hire enough hygienists to support patients.
As always, thanks so much for listening! If you like the show, we would love for you to review the show on Apple Podcasts as well as spread the word! If you have any questions or want to get in touch, shoot me an email at millennialdentist@gmail.com.
Links and Resources
Richard Sullivan, DDS
Partner, Sullivan Dental Partners
Co-host/Founder of the Millennial Dentist Podcast
http://www.millennialdentist.com
c. (615)574-8208
w. (615)373-1012
Visit Us On Social Media
The Millennial Dentist Website
@Millennialdentist on Facebook
Dr. Sully…@Millennialdentist on Instagram
It’s important to learn through every experience and Sully certainly has learned a lot from the loss of his first associate. This conversation with TBone is all about where Sully and the practice went wrong in keeping this associate and what they could have done better to prevent it.
Failure isn’t a bad thing. There are different challenges presented when hiring associates and those challenges vary by person. And keeping with that mindset of learning never stops, Sully has learned something new from every associate he’s had.
Listen to this episode of Millennial Dentist to learn some of the pitfalls you can avoid and reflect on ways you can make the associateship experience better for you and your associates.
Show Notes:
[01:13] - We learn from everything and the goal is to move forward.
[02:28] - There are different challenges presented with different associates.
[03:36] - Why did they move forward with Jackson as an associate?
[05:49] - Ideally you want an associate that can level up the skills in the practice.
[07:11] - It’s easy for owners to hire associates to do the things they don’t want to do.
[10:05] - Part of the practice growth can be hard for owners to change their mindset.
[12:06] - Sully admits that he should have taken more of a mentor role.
[13:14] - A good relationship is when both parties have skin in the game.
[16:21] - If you want associateship to work, you have to know that they won’t do things the same exact way as you.
[19:35] - Training comes first and you have to keep learning.
[21:08] - Sully shares what he feels his practice has done well with associates.
[23:04] - What comes next for the practice?
As always, thanks so much for listening! If you like the show, we would love for you to review the show on Apple Podcasts as well as spread the word! If you have any questions or want to get in touch, shoot me an email at millennialdentist@gmail.com.
Links and Resources
Richard Sullivan, DDS
Partner, Sullivan Dental Partners
Co-host/Founder of the Millennial Dentist Podcast
http://www.millennialdentist.com
c. (615)574-8208
w. (615)373-1012
Visit Us On Social Media
The Millennial Dentist Website
@Millennialdentist on Facebook
Dr. Sully…@Millennialdentist on Instagram
Welcome back to part 2 of a previous conversation with former associate Dr. Jackson. Dr. Jackson has recently taken the opportunity to shift from associateship to ownership and with that change comes a lot of decisions. In part 1, Dr. Jackson shared his journey, how he made decisions for his new practice so far, and he laid his fears all out on the table. In today’s installment of this conversation, we talk more about the team he’s inheriting with the purchase of an existing practice as well as leadership skills Dr. Jackson will need to learn on the way to being the best leader the team can have.
Shifting from associateship to ownership is a huge decision, but one that many dentists make. We are confident that Dr. Jackson has been prepared for this new endeavor through his work with us and are thrilled for this new opportunity for him.
Show Notes:
[01:20] - An early area of struggle for Sully was coaching the team.
[03:51] - When is it right to expand?
[06:04] - Dr. Jackson is going to have to change the way he practices initially.
[09:26] - Sully tends to come across as “winging it,” but decisions are calculated.
[10:52] - Find somebody that does things well and use their strategies to work for you.
[12:43] - You need to know where your decisions are coming from.
[13:54] - Sully describes what he would do at first if he were in Dr. Jackson’s position.
[16:42] - Suly doesn’t believe in hygienists being paid by production.
[18:13] - The best leadership strategy is Immediate Daily Feedback.
[23:10] - It’s better to stick with one plan than to have four plans.
[24:28] - Is marketing something Dr. Jackson needs to focus on?
[26:07] - The best way to fire someone is to hire someone to replace them.
As always, thanks so much for listening! If you like the show, we would love for you to review the show on Apple Podcasts as well as spread the word! If you have any questions or want to get in touch, shoot me an email at millennialdentist@gmail.com.
Links and Resources
Richard Sullivan, DDS
Partner, Sullivan Dental Partners
Co-host/Founder of the Millennial Dentist Podcast
http://www.millennialdentist.com
c. (615)574-8208
w. (615)373-1012
Visit Us On Social Media
The Millennial Dentist Website
@Millennialdentist on Facebook
Dr. Sully…@Millennialdentist on Instagram