3 Traits That Make A Dentist Profitable with Dr. Bruce Baird

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Bulletproof Dental Practice Podcast Episode 84

Hosts: Dr. Peter Boulden & Dr. Craig Spodak

Guest: Dr. Bruce Baird, President and Co-founder of Productive Dentist Academy

Key Takeaways:

  • Break down your production hourly to really find areas to improve in your practice.
  • It’s not about speed, it’s about getting people to say yes to more dentistry.
  • Grow your practice, sell it, try something new, invest
  • Business ownership
    • Dentistry consolidation and competition is scary
  • View of the future
    • There is consolidation
    • There are going to be group practices
    • There is economy of scale
    • Insurance will open massive opportunities for dentists who are entrepreneurs
    • Dentist owned/led mega practices
  • Role of specialty in the future
    • Specialists will struggle
    • Technology is the equalizer
    • Implant Dentistry: Simplified, predictable and profitable
  • Advice
    • Take on additional training to become a super GP
    • Be the best and learn new techniques and skills
  • Direct pay, no insurance, will help find amazing opportunity
    • Compassionate finance allows people to make monthly payments
    • Insurance companies make $77 billion to screw patients and dentists
    • Dental Insurance CEOs make $23-46 million a year
    • Monthly payments will help 80% of people who aren’t being helped
  • 7% of people make payments if payments are $100 or less a month
    • Interest offsets risk
  • Top 3 traits that make a dentist profitable:
    • #3 – Clinical skills
    • #2 – Want to be the best
    • #1 – Communication skills

 

References:

Compassionate Finance

 

Tweetables:

If you’re going to do something, be the best that you can possibly be at it. Then teach others to do it. – Dr. Bruce Baird

With commitment, there is no room for failure – Dr. Bruce Baird

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