How These 3 Oversimplications Can Cause Problems in Your Dental Practice

Author: Tooth and Coin
Published: Fri 22 Nov 2024
Episode Link: https://tooth-and-coin-podcast.simplecast.com/episodes/how-these-3-oversimplications-can-cause-problems-in-your-dental-practice-iJYFMqPm

We're pulling back the curtain on some of the most common financial oversimplifications that can hurt dental practices—ones that might surprise you! These seemingly small mistakes add up fast and can impact profitability and overall growth. We’ll also break down how to determine if it's the right time to bring on an assistant by analyzing your new patient flow, booking timeline, operatory capacity, and patient base. These are factors that can make or break your daily operations—if not managed well. I'll guide you on how to keep a pulse on these areas to ensure that your practice runs like a well-oiled machine.

So many practices fall into the trap of relying on generic benchmarks that don’t account for the unique aspects of their business—I'll explain why following these can sometimes do more harm than good, and what you should do instead. We’ll discuss why having a solid financial strategy is essential and how to avoid falling for quick-fix advice that won’t serve your long-term goals.

What you'll hear in this episode:

[0:25] Three Costly Oversimplifications in Dental Practices

[2:30] The 100K Means Hire Rule

[5:50] New Patient Flow as a Factor in Determining if You Need To Hire an Assistant

[7:15] Understanding the Booking Timeline

[07:45] Understanding Operatory Capacity

[08:30] Understanding Patient Base

[11:55] The Benchmark Trap

[15:50] The Fake CFO Phenomenon

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

Watch full episodes on YouTube: https://www.youtube.com/@Dentistmetrics

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How These 3 Oversimplications Can Cause Problems in Your Dental Practice