Scaling Your Practice with Dr. Brady Frank

Bulletproof Dental Practice Podcast Episode 17

Host: Dr. Peter Boulden / Atlanta Dental Spa

Guest: Dr. Brady Frank

Key Takeaways:

  • DSO (Dentist Service Organizations) were created to address legal challenges presented by corporate dentistry. Dentists can take advantage of this.
  • Dentists should learn how to become owner-dentists then hire an associate to do heavy lifting of clinical dentistry.
  • Equity harvesting – find a value-added practice, acquire it and convert it to cash
  • Knowing your business value may not necessarily have an impact to your retirement fund
  • How to have cash from investment and use it: (1) Find a value-added practice (2) grow the value-added practice and (3) find a way to receive cash from this asset
  • Get a dentist partner to work on the clinical side so you can work on the business side
  • Continuous exit strategy works with equity harvesting
  • If you acquire another practice, operate it as one business with your existing practice
  • Add dentist partners as you acquire more practices
  • The founding dentist becomes a private equity company also
  • Continuous exit strategy means you own a portion of your company (the DSO) and earn from it continuously as it expands to other regions
  • Hire dentists who want to work as partners vs those who want to just be associates. They are go-getters.
  • Dentists can compete with corporate if they understand how DSOs work.
  • Multiple Incomes available to dentists: management income, clinical income, income from building lease, residual income from regional DSOs, etc.

Tweetables:

Staying in the game will make you more energized and give you more cashflow. – Dr. Brady Frank

Resources Mentioned:

Blog

Your Revenue Doesn’t Matter

, October 21, 2021

Summit Wrap Up 2021

, July 28, 2021

Debt Repayment Methods

, June 16, 2021

Bottlenecks to Revenue

, June 9, 2021

The Bulletproof Pathway

, March 17, 2021

Comfort Zone & Lifestyle Creep

, February 17, 2021

1 VS. 5 Locations

, February 10, 2021

Team Alignment is EVERYTHING

, February 3, 2021

Work As Hard As You Can

, December 9, 2020

Becoming a Thoroughbred

, November 27, 2020

Dealing with Upset Patients

, October 22, 2020

Team Compensation Negotiations

, September 17, 2020

The Risk of Burnout

, September 9, 2020

When to Expand

, August 27, 2020

Don’t Blow Your Ask

, July 16, 2020

Your Last Dance

, June 2, 2020

Looking for Silver Linings

, April 7, 2020

HR Answers in a Corona World

, March 19, 2020

The Summit Recap

, March 3, 2020

Dr. Baird is BAAACK!

, February 20, 2020

The Insurance Conundrum

, January 9, 2020

2020: Your BEST Decade Yet

, January 2, 2020

Leadership with Dr. Jenny Perna

, December 19, 2019

Smartest in the Room

, September 19, 2019