Coaches Corner: Metric Blindness
Shared Practices | Your Dental Roadmap through Practice Ownership
Release Date: 09/23/2024
Operations in Action
Shared Practices | Your Dental Roadmap through Practice Ownership
In this episode of the Shared Practices Podcast, Richard Low and Scott Leune explore how to implement operations in a dental practice. They discuss real-world strategies for optimizing patient flow, managing key financial metrics, and building a culture of accountability within the team. This episode offers actionable insights for dentists ready to take their operations to the next level. Key Highlights: Optimizing Patient Flow: Discover how streamlined patient scheduling and flow are critical to practice efficiency and profitability. Tracking Financial Metrics: Richard and Scott discuss...
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Bought the Right Practice with Dr. Jim Simpson
Shared Practices | Your Dental Roadmap through Practice Ownership
In this episode of the Shared Practices Podcast, Dr. Jim Simpson shares his journey of buying the right dental practice. From his decision-making process to evaluating opportunities and making the best choice, Dr. Simpson dives into the key factors that helped him succeed. Whether you’re looking to purchase your first practice or planning future acquisitions, this episode offers valuable insights into what makes a practice the “right” one. Key Highlights: The Decision to Buy: Dr. Simpson talks about the importance of timing and preparation when buying a practice. He shares his personal...
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Dental CEO - Managing Operations
Shared Practices | Your Dental Roadmap through Practice Ownership
In this episode of the Shared Practices Podcast, Richard Low and Scott Leune explore the critical role of managing operations in a dental practice. They break down practical strategies for streamlining daily tasks, creating efficient systems, and developing leadership skills that allow you to run a more effective and profitable practice. Key Highlights: Creating Efficient Systems: Richard and Scott discuss how building consistent systems can reduce inefficiency, improve productivity, and ensure your practice runs smoothly, even when you're not directly involved. Delegation and...
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Hygiene Led Growth vs Hygiene Led Profit - Ask George
Shared Practices | Your Dental Roadmap through Practice Ownership
In this episode of the Shared Practices Podcast, George discusses the difference between hygiene-led growth and hygiene-led profit. He explores how to leverage hygiene as a growth tool rather than for immediate profitability and the impact each strategy has on a dental practice’s success. Key Highlights: Hygiene-Led Growth: George explains how focusing on growth through hygiene means expanding patient volume and creating opportunities for long-term production. This approach sets the stage for future profits but requires patience. Hygiene-Led Profit: The alternative strategy is maximizing...
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Dental CEO - Building the Operations Dashboard
Shared Practices | Your Dental Roadmap through Practice Ownership
In this episode of the Shared Practices Podcast, Richard Low and Scott Leune dive into the essential task of building operations for dental practices. As a Dental CEO, mastering operations is key to running a smooth and profitable practice. Learn the strategies and systems that make a big difference in daily practice management. Key Highlights: Creating Efficient Systems: Richard and Scott discuss how building effective systems within your practice can streamline daily tasks, improve productivity, and free up your time for leadership responsibilities. Managing Operations for Growth: Learn...
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Coaches Corner: Metric Blindness
Shared Practices | Your Dental Roadmap through Practice Ownership
Richard and Caitlin dive into "metric blindness" in dental practices, focusing on how to understand and manage Accounts Receivable (AR) for financial health. Key Highlights: Understanding Accounts Receivable (AR): AR reflects the money owed for services provided but not yet collected. Learn how it can be a positive indicator when managed correctly. Key Metrics for AR Management: Metrics like the collections ratio, AR to production ratio, and aging categories provide a clear view of your practice’s financial health. Proactive AR Strategies: Discover proactive measures to keep cash flow...
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The Three Pillars of the Dental CEO
Shared Practices | Your Dental Roadmap through Practice Ownership
In this episode of the Shared Practices Podcast, the focus shifts to understanding the role of the Dental CEO and how practice owners can embrace a leadership mindset to drive growth and efficiency. Learn what it means to operate as a CEO and how this perspective can transform your practice’s success. Key Highlights: The CEO Mindset: Shifting from a clinician’s mindset to a CEO mindset allows practice owners to lead their business strategically, focusing on long-term goals and team development rather than day-to-day tasks. Building Systems for Growth: Discover the importance of...
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Maximizing for Profit or Growth - Ask George - The Shared Practices Podcast
Shared Practices | Your Dental Roadmap through Practice Ownership
In this episode, George discusses every dental practice owner's crucial decision: Should you prioritize profit or focus on growth? He breaks down the key differences between these strategies, explains how to assess which approach fits your practice, and shares the financial metrics that matter most. George also explores how practices can achieve profit and growth through the right balance. Key Highlights: Profit vs. Growth Strategy: Understand the differences between maximizing profit (cutting costs, optimizing cash flow) and growth (reinvesting profits to expand). Critical Metrics for...
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The Million Dollar Dentist Part 4: Multi-Practice
Shared Practices | Your Dental Roadmap through Practice Ownership
We continue our journey toward building a million-dollar practice, and we focus on one of the the final phases—scaling your business without sacrificing your well-being. Dr. Scott Leune and I discuss how to grow your practice responsibly, avoid all-too-common pitfalls, and get financial freedom, but also a balanced life. Watch the .
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When Luck Meets Strategy: Doubling a Practice in a Year w/ Dr. Andrew Clingan
Shared Practices | Your Dental Roadmap through Practice Ownership
Dr. Andrew Clingan shares his rollercoaster journey of purchasing a dental practice right out of school and transforming it into a million-dollar business within a year. He opens up about the brutal realities of the first few months, the importance of finding the right team, and a mix of luck and leadership. Be sure to subscribe and leave us a review on your favorite podcast platform to help us reach more dental professionals like you. Visit our for more episodes, join our community on Facebook, and follow us on Instagram for the latest updates and behind-the-scenes content.
info_outlineRichard and Caitlin dive into "metric blindness" in dental practices, focusing on how to understand and manage Accounts Receivable (AR) for financial health.
Key Highlights:
Understanding Accounts Receivable (AR):
AR reflects the money owed for services provided but not yet collected. Learn how it can be a positive indicator when managed correctly.
Key Metrics for AR Management:
Metrics like the collections ratio, AR to production ratio, and aging categories provide a clear view of your practice’s financial health.
Proactive AR Strategies:
Discover proactive measures to keep cash flow healthy, like setting clear collection guidelines and accurate cost estimates.
Don’t let metric blindness limit your practice's success. Find out how to manage AR effectively!
Have a question or topic you want us to cover?
Reach out to us on social media or our website at www.sharedpractices.com. Don’t forget to subscribe and leave a review if you enjoyed this episode!