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Bulletproof Dental Practice Podcast Episode 65
- Most DSO’s don’t allow for the dentist to work with them to continue growing their business.
- Breakaway Practice provides DSO infrastructure to provide partnership and value for practice owners.
- Breakaway Practice wants to take the best from corporate infrastructure has today and make it available to a private dentist through a partnership.
- Traditional DSO’s are a great benefit for new grads who want guaranteed salary with a lot of CE and ability to move around the country.
- Practice sale strategy all depends on the specific wants and needs of the selling dentist.
- Most Breakaway dentists are entrepreneurs who want multiple locations.
- 7 out of 8 practices should not be purchased by someone who wants to own multiple locations.
- Invest in training, coaching, and learning if you’re interested in owning multiple locations. It’s a lot of hard work and isn’t for most people.
- To get a really high EBITDA multiple you must own lots of locations with a ton of infrastructure and a solid path to continue rapid growth.
- Leune has found there’s a tipping point at 11 days being booked out, profits start going down and no-shows start going up.
- Once you’re at that tipping point you have a problem and must fix whatever is holding back the schedule.
- January-March are the best months of the year for acquiring new patients, cost-wise. August is also good. Worst times for marketing are December, April-May, and September.
- Dentists need to strive for both clinical AND business excellency.
- Specialists are in the hardest position right now, as GP’s are taking over more and more of their business.
- If you’re doing what you love and making a good amount of money, perhaps there’s no reason to change or do anything different. Not everyone has to be the CEO.
- If you do what’s right for the patient, create a really good value-based practice, and have a good following there’s plenty of room for you to be successful in the future.
- Figure out the “why” first so you don’t end up going down the wrong path. Once you’re clear in your decision making, decisions aren’t that hard.
Innovation comes from pain, and not giving up. – Dr. Scott Leune
It’s so much easier to make a decision when there’s purpose behind it. – Dr. Scott Leune