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Hey Docs! Hosted by Jill Allen of Jill Allen & Associates. In this podcast, Jill and her guests will cover everything you need to know about building a business. Along...
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Hey Docs! Hosted by Jill Allen of Jill Allen & Associates.
In this podcast, Jill and her guests will cover everything you need to know about building a business. Along with giving tips and tools to help you succeed in your own venture. Each episode will weave a narrative journey about innovators, entrepreneurs, doctors, and companies that are making an impact. So whether you are a brand new doctor building a practice or an entrepreneur looking to build an empire, there is something here for you!
Tune in weekly. Episodes drop every Thursday!
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In this podcast, Jill and her guests will cover everything you need to know about building a business. Along with giving tips and tools to help you succeed in your own venture. Each episode will weave a narrative journey about innovators, entrepreneurs, doctors, and companies that are making an impact. So whether you are a brand new doctor building a practice or an entrepreneur looking to build an empire, there is something here for you!
Tune in weekly. Episodes drop every Thursday!
Reaching a Wider Audience: The Power of Multi-Channel Marketing in Orthodontics
25 LUG 2024 · Summary
Luke shares his background and the journey of starting Hip Creative. He emphasizes the importance of focusing on long-term goals and building relationships with clients. Luke discusses the evolving landscape of marketing in the orthodontic industry, highlighting the increased competition and the need for private practices to stand out. He advises on the importance of brand awareness and recognition, as well as the need for a multi-channel marketing approach. Luke also provides insights on marketing strategies for startup practices on a limited budget, including the use of Facebook and Instagram ads. In this conversation, Luke from HIP Creative shares valuable insights on marketing strategies for orthodontic practices. He emphasizes the importance of adaptability and thinking outside the traditional marketing funnel. Luke discusses the need to meet patients where they are, considering different generational perspectives and adjusting marketing strategies accordingly. He also highlights the significance of nurturing cold leads and implementing drip campaigns. Luke suggests that the sales process begins at the first touchpoint with the practice and emphasizes the importance of consistent messaging and a human-centered approach. He advises orthodontists to prioritize mindset, invest in Facebook marketing, and focus on building a strong team. Luke concludes by expressing excitement about the potential of AI in the industry.
https://hip.agency/
https://www.facebook.com/hipcreativeinc
https://www.instagram.com/hipcreative https://www.youtube.com/channel/UCJzS8x9T9lW0Ycc4PXWxNig https://www.tiktok.com/@hipcreative
https://www.linkedin.com/company/hip-creative-inc
https://twitter.com/hipcreativeinc
Takeaways
- Focus on long-term goals and building relationships with clients
- Stand out in the competitive orthodontic industry through brand awareness and recognition
- Implement a multi-channel marketing approach to reach a wider audience
- Consider Facebook and Instagram ads for lead generation
- Be strategic with budget allocation and prioritize efforts based on the target audience Adaptability is key in marketing strategies for orthodontic practices. It is important to think outside the traditional marketing funnel and adjust strategies based on different generational perspectives.
- Nurturing cold leads and implementing drip campaigns can be effective in converting potential patients into actual patients.
- The sales process begins at the first touchpoint with the practice, and consistent messaging and a human-centered approach are crucial for success.
- Orthodontists should prioritize mindset, invest in Facebook marketing, and focus on building a strong team.
- AI has the potential to revolutionize the industry and should be embraced as a valuable tool.
Chapters
00:00 Introduction and Background
03:03 Building Relationships and Long-Term Goals
10:25 Standing Out in a Competitive Market
23:46 Marketing Strategies for Startup Practices
31:13 Adaptability and Thinking Outside the Traditional Marketing Funnel
39:31 The Sales Process Starts at the First Touchpoint
45:36 Consistent Messaging and a Human-Centered Approach
52:47 Prioritizing Mindset, Facebook Marketing, and Building a Strong Team
59:21 The Potential of AI in the Orthodontic Industry
Connect With Our Advertisers
Kaleidoscope - https://www.contactkl.com/
SmileSuite - http://getsmilesuite.com/
Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- http://www.practiceresults.com/.
If you like what we are doing here on Hey Docs! and want to hear more of this awesome content, give us a 5-star Rating on your preferred listening platform and subscribe to our show so you never miss an episode.
New episodes drop every Thursday!
Episode Credits:
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Garrett Lucero
Visualizing and Optimizing Treatment Outcomes with DIBS AI
18 LUG 2024 · Welcome to the Hey Docs! Podcast with your host Jill Allen.
In this episode Ryan Williams from OrthoSelect and DIBS AI is joining me on the show. Today’s episode is all about AI and how products like DIBS AI are changing the game for indirect bonding in practices. From efficiency to challenges practice face, we are covering it all.
Let’s dive in!
Summary
In this conversation, Ryan Williams, the VP of Sales of OrthoSelect and DIBS AI, discusses the evolution of orthodontic technology, specifically focusing on digital indirect bonding and the impact of artificial intelligence (AI) in the orthodontic industry. He explains how OrthoSelect started as a study model company and eventually developed the Dibs AI software for digital indirect bonding. Ryan emphasizes the importance of AI in improving efficiency and accuracy in orthodontic practices, allowing for more streamlined workflows and reduced treatment times. He also highlights the significance of accurate bracket placement and the role of AI in visualizing and optimizing treatment outcomes. In this conversation, Ryan Williams discusses the implementation of AI in orthodontics and its benefits to the industry. He explains how AI can improve efficiency, accuracy, and patient outcomes in orthodontic treatment. Williams also addresses common challenges doctors face when implementing AI systems and provides insights into the future of AI in orthodontics.
https://myorthoselect.com/
https://www.facebook.com/Donedesk
https://www.facebook.com/DIBSAI
https://www.instagram.com/dibs.ai/
Takeaways
- OrthoSelect started as a study model company and evolved to develop the Dibs AI software for digital indirect bonding.
- AI plays a crucial role in improving efficiency and accuracy in orthodontic practices.
- Accurate bracket placement is essential for reducing treatment times and improving treatment outcomes.
- AI allows for visualizing and optimizing treatment outcomes by reverse engineering bracket placement based on desired tooth positions.
- The use of AI in orthodontics is still in its early stages, and the accuracy and precision will continue to improve in the future.
- AI technology in orthodontics can improve efficiency, accuracy, and patient outcomes.
- Implementing AI systems may require training and a shift in mindset for doctors and staff.
- AI has the potential to automate and simplify orthodontic processes, leading to faster turnaround times and personalized treatment plans.
- Communication and the ability to engage with patients are important skills for orthodontists.
- The future of AI in orthodontics will involve further advancements in diagnosis, treatment planning, and personalized preferences.
Chapters
00:00 Introduction and Background of OrthoSelect
05:27 The Impact of AI in the Orthodontic Industry
10:19 The Evolution of Indirect Bonding Methods
16:10 Efficiency and Doctor Time Scheduling
29:05 Visualizing and Optimizing Treatment Outcomes
31:06 The Future of AI in Orthodontics
35:09 Challenges in Implementing AI Systems
38:49 The Shift to Indirect Systems and Same-Day Starts
42:56 Considerations for Building a Practice with AI
51:00 The Future of AI in Orthodontics
Connect With Our Advertisers
Kaleidoscope - https://www.contactkl.com/
SmileSuite - http://getsmilesuite.com/
Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- http://www.practiceresults.com/.
If you like what we are doing here on Hey Docs! and want to hear more of this awesome content, give us a 5-star Rating on your preferred listening platform and subscribe to our show so you never miss an episode.
New episodes drop every Thursday!
Episode Credits:
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Garrett Lucero
Investing in the Business Side of Your Practice
11 LUG 2024 · Welcome to the Hey Docs! Podcast with your host, Jill Allen.
On this episode, I am excited to be joined by returning guest Cary Smith from Done Desk. And today, we are focusing on the impact of efficiency in an orthodontic practice. Whether you are a single practice owner or an owner of multiple, accountability to efficient strategies is the key to success. Stay tuned for practical tips and actionable advice on enhancing efficiency and overall happiness in your practice.
Let’s get into it!
Summary
Cary Smith, founder of Done Desk, discusses the importance of efficiency and accountability in dental practices. He emphasizes the need for clear definitions of what is important and the development of a people strategy. Smith also highlights the role of time management and the importance of focusing on the most important and urgent tasks. He stresses the need for accountability at all levels of the practice and the importance of aligning individual actions with the desired results. In this conversation, Cary Smith discusses the importance of assessing employees based on their values, attitudes, behavior, skills, and experiences. He emphasizes the need for clear expectations and accountability in order to ensure that employees are engaged and capable of driving the business forward. Cary also highlights the role of technology in training and efficiency, suggesting that businesses should leverage technology to transfer knowledge and hold employees accountable for self-learning. He concludes by sharing a valuable tip for managing work-related stress and offers advice for those just getting started in their careers.
https://www.donedesk.com/dental-education-and-learning/ https://www.facebook.com/Donedesk
https://www.linkedin.com/company/done-desk/
https://www.instagram.com/donedesk/
Takeaways
- Efficiency and accountability are crucial for the success of dental practices.
- Clear definitions of what is important and a people strategy are essential.
- Time management and focusing on the most important and urgent tasks are key.
- Accountability should be present at all levels of the practice.
- Individual actions should align with the desired results.
- Assess employees based on their values, attitudes, behavior, skills, and experiences to ensure they are the right fit for their roles.
- Set clear expectations and hold employees accountable for their work.
- Leverage technology to transfer knowledge and improve training efficiency.
- Manage work-related stress by addressing issues immediately.
- Invest time and effort in the business side of your practice to drive growth and success.
Chapters
00:00 Introduction and Overview of Done Desk
08:55 Strategies for Single Location and Multi-Location Practices
28:01 The Role of Accountability in Achieving Efficiency
30:36 Assessing Employees
35:25 Adapting to Business Changes
38:28 Leveraging Technology for Training and Efficiency
45:58 Investing in the Business Side of Your Practice
49:01 Managing Work-Related Stress
56:21 Advice for Those Getting Started
Connect With Our Advertisers
Kaleidoscope - https://www.contactkl.com/
SmileSuite - http://getsmilesuite.com/
Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- http://www.practiceresults.com/.
If you like what we are doing here on Hey Docs! and want to hear more of this awesome content, give us a 5-star Rating on your preferred listening platform and subscribe to our show so you never miss an episode.
New episodes drop every Thursday!
Episode Credits:
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Garrett Lucero
Everything You Need to Know about Financing Your Orthodontic Practice Start-up
4 LUG 2024 · Welcome to the Hey Docs! Podcast with your host, Jill Allen.
Today, Steve Steinbrunner from Provide is joining me back on the show. In this episode, we cover all things loan, from what you need to do before you start the loan process to the details when it comes to getting approved and even the nuance of land and property loans. No matter where you are in your practice journey, there is something in this episode for you.
Let’s dive in!
Summary
In this conversation, Steve Steinbrunner, Director of Practice Finance at Provide, discusses the lending process for dental practices. He emphasizes the importance of preparing in advance for a practice loan, including maintaining a good credit score and having sufficient liquidity. He also advises against paying off student loan debt before starting a practice, as cash flow and liquidity are more important. Steinbrunner addresses common pitfalls, such as lack of vision and tax obligations, and highlights the increasing size of loans due to rising construction costs. He encourages dentists to seek dental-specific contractors and understand the cost per square foot for construction in their area. In this conversation, Steve Steinbrunner and Jill discuss the financial aspects of starting a dental practice. They cover topics such as the cost of starting a practice, the role of loans in financing the practice, the importance of budgeting, and the option of buying a building or land. Steve emphasizes the need for a team of advisors and experts to guide the process and make informed decisions. He also highlights the importance of asking the right questions and choosing a lender that aligns with the dentist's long-term goals.
https://www.getprovide.com/
https://www.facebook.com/GetProvide/
https://www.instagram.com/getprovide/
https://www.linkedin.com/company/getprovide/
https://www.tiktok.com/@thepathtoowningit
https://www.youtube.com/@getprovide
Takeaways
- Prepare in advance for a practice loan by maintaining a good credit score and having sufficient liquidity.
- Avoid paying off student loan debt before starting a practice, as cash flow and liquidity are more important.
- Be aware of common pitfalls, such as lack of vision and tax obligations.
- Understand that the size of loans has increased due to rising construction costs.
- Seek dental-specific contractors and understand the cost per square foot for construction in your area. Starting a dental practice can cost around $700,000 to $800,000, with construction costs being a significant factor.
- It is important to work with a team of advisors, including a lender, realtor, and contractor, to make informed decisions and ensure the success of the practice.
- When considering a loan, it is advisable to leverage the bank's financing and save personal funds for other expenses or investments.
- Buying a building or land for the practice can be a viable option, especially considering high rent rates and the potential for long-term financial benefits.
- Choosing a lender that aligns with the dentist's future goals, such as multiple practice ownership, is crucial.
- Excel spreadsheets are a valuable productivity tool for financial planning and budgeting.
- Asking the right questions and seeking advice from experts are essential skills for navigating the financial aspects of starting a dental practice.
Chapters
00:00 Introduction and Background
04:06 Preparing for a Practice Loan
08:27 Pitfalls in the Loan Application Process
23:23 The Impact of Rising Construction Costs
25:58 Finding Dental-Specific Contractors
29:20 Costs and Considerations of Starting a Dental Practice
36:18 Building Ownership: Is It Worth It?
43:21 The Importance of a Team of Advisors
49:06 Leveraging Bank Financing and Saving Personal Funds
52:25 The Role of Excel Spreadsheets in Financial Planning
53:26 Asking the Right Questions for Financial Decision-Making
Connect With Our Advertisers
Kaleidoscope - https://www.contactkl.com/
SmileSuite - http://getsmilesuite.com/
Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- http://www.practiceresults.com/.
If you like what we are doing here on Hey Docs! and want to hear more of this awesome content, give us a 5-star Rating on your preferred listening platform and subscribe to our show so you never miss an episode.
New episodes drop every Thursday!
Episode Credits:
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Garrett Lucero
Provide is a division of Fifth Third Bank, National Association. All opinions expressed by the Provide employee participant are solely their current opinions and do not reflect the opinions of Provide, its affiliates, or Fifth Third Bank. The Provide employee participant’s opinions are based on information they consider reliable, but neither Provide, its affiliates nor Fifth Third Bank warrant its completeness or accuracy and should not be relied upon as such. This content is for informational purposes and does not constitute the rendering of legal, accounting, tax, or investment advice, or other professional services by Provide or any of its affiliates. Please consult with appropriate professionals related to your individual circumstances. All lending is subject to review and approval.
The Art of Leadership: Part Two with Dino Watt
27 GIU 2024 · Welcome to the Hey Docs! Podcast with your host, Jill Allen.
Today, I am thrilled to have Dino Watt back on the show! In this part two episode, we will continue to dive deep into some common challenges faced by practices in leadership, team building, and practice culture. We will also get Dino's top advice for transforming your team members into leaders. Plus, we’ll discuss his unique Doctor Appreciation Event Blueprint for boosting referrals. This is an episode you won't want to miss.
Let’s get started!
Summary
Dino Watt discusses the importance of leadership, team culture, and the hiring process in the dental industry. He emphasizes the need for mentorship, effective communication, and the impact of soft skills on hard skills. The conversation also delves into the challenges faced by female doctors and the significance of identifying and promoting the right team members. The conversation covers leadership, team dynamics, marketing strategies, and career advice. It delves into the importance of promoting from within, understanding different employee levels, and the significance of doctor appreciation events in building referral sources. Dino Watt shares valuable insights on intentional relationship-building, mentorship, and the evolving trends in the dental industry.
https://dreventblueprint.com/
https://www.dinowatt.com/
https://www.instagram.com/dinowatt/
https://www.facebook.com/dinowatt/
https://www.youtube.com/user/dinowatt
https://www.tiktok.com/@dinoteamtransformation?is_from_webapp=1&sender_device=pc https://www.linkedin.com/in/dinowatt/
Takeaways
- Promoting from within and understanding employee levels is crucial for effective leadership.
- Doctor appreciation events play a significant role in building referral sources within the dental community.
- Mentorship and intentional relationship-building are key to career success and personal growth in the dental industry.
Chapters
00:00 Introduction and Overview
02:00 Promoting Based on Skill and Fit
03:24 Not Everyone is Meant to be a Leader
04:22 Building Relationships with Existing Practices
07:18 Intentional Marketing for Attracting New Patients
21:02 The Power of Doctor Appreciation Events
28:37 The Trend of Practice Culture and Experiences
29:05 The Value of Multiple Mentors
30:04 Conclusion
Connect With Our Advertisers
Kaleidoscope - https://www.contactkl.com/
GC Orthodontics - https://www.gc.dental/america/campaigns/gcoa-jillallen-2024
SmileSuite - http://getsmilesuite.com/
Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- http://www.practiceresults.com/.
If you like what we are doing here on Hey Docs! and want to hear more of this awesome content, give us a 5-star Rating on your preferred listening platform and subscribe to our show so you never miss an episode.
New episodes drop every Thursday!
Episode Credits:
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Garrett Lucero
The Art of Leadership: Part One with Dino Watt
20 GIU 2024 · Welcome to the Hey Docs! Podcast with your host, Jill Allen.
Today, I am thrilled to have Dino Watt back on the show! In this episode, we will dive deep into some of the common challenges faced by practices in leadership, team building, and practice culture. We will also get Dino's top advice for transforming your team members into leaders. Plus, we’ll discuss his unique Doctor Appreciation Event Blueprint for boosting referrals. This is an episode you won't want to miss.
Let’s get started!
Summary
Dino Watt discusses the importance of leadership, team culture, and the hiring process in the dental industry. He emphasizes the need for mentorship, effective communication, and the impact of soft skills on hard skills. The conversation also delves into the challenges faced by female doctors and the significance of identifying and promoting the right team members. The conversation covers topics such as leadership, team dynamics, marketing strategies, and career advice. It delves into the importance of promoting from within, understanding different employee levels, and the significance of doctor appreciation events in building referral sources. Dino Watt shares valuable insights on intentional relationship-building, mentorship, and the evolving trends in the dental industry.
https://dreventblueprint.com/
https://www.dinowatt.com/
https://www.instagram.com/dinowatt/
https://www.facebook.com/dinowatt/
https://www.youtube.com/user/dinowatt
https://www.tiktok.com/@dinoteamtransformation?is_from_webapp=1&sender_device=pc https://www.linkedin.com/in/dinowatt/
Takeaways
- The hiring process is crucial and should involve multiple interviews to truly understand the candidate.
- Soft skills are essential for effective leadership and team culture.
- Female doctors face unique challenges in the dental industry and require support and recognition.
- Promotion based on longevity alone can lead to unqualified individuals in leadership roles.
Chapters
00:00 Introduction and Background of Dino Watt
03:08 The Importance of Leadership and Team Culture in Dentistry
08:15 Mentorship and Effective Communication in the Dental Industry
22:32 The Hiring Process: Finding the Right Fit
Connect With Our Advertisers
Kaleidoscope - https://www.contactkl.com/
GC Orthodontics - https://www.gc.dental/america/campaigns/gcoa-jillallen-2024
SmileSuite - http://getsmilesuite.com/
Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- http://www.practiceresults.com/.
If you like what we are doing here on Hey Docs! and want to hear more of this awesome content, give us a 5-star Rating on your preferred listening platform and subscribe to our show so you never miss an episode.
New episodes drop every Thursday!
Episode Credits:
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Garrett Lucero
The Journey to Jill Allen & Associate: A Peak Behind the Curtain With Jill Part Two
13 GIU 2024 · Hey everyone
Welcome to part 2 of a special Hey Docs! episode with your guest host, Jordann Killion. In part 1, we got to know the one and only Jill Allen. Part 2 is all about Jill Allen & Associates and what consulting with our team actually looks like. From how our services are designed to the benefits of working with a consultant, we are getting granular.
Let’s get started!
Summary
In this conversation, Jill Allen and Associates discuss the services they offer, including business consulting, startup support, and acquisition assistance. They emphasize the importance of tailored consulting for each type of practice and the value of involving consultants at the right stage of the business journey. In this conversation, Jill and Jordann discuss the value of consultant advice versus peer advice in the context of practice ownership. They explore the importance of commitment, work-related stress management, and the trends in the industry. Jill shares valuable advice for those starting their career and emphasizes the significance of finding the right people to help achieve business goals.
https://www.youtube.com/@jillallenandassociates-heydocs https://www.instagram.com/jillallenandassociates/
https://www.linkedin.com/in/jilljallen/
https://www.facebook.com/JillAllenandAssociates https://www.tiktok.com/@jillallenandassoc?_t=8mtwB52l9sk&_r=1
http://www.practiceresults.com/
Takeaways
- Jill Allen and Associates provide tailored consulting services for startups, existing practices, and acquisitions, recognizing the unique needs of each type of practice.
- The involvement of consultants at the right stage of the business journey, whether it's a startup, an existing practice, or an acquisition, is crucial for success and sustainable growth.
- The approach to consulting is not one-size-fits-all, and it involves careful consideration of the specific needs and challenges of each practice.
- The value of consultant advice in practice ownership
- The importance of commitment and time in building a successful practice
- The significance of finding the right people to help achieve business goals
Chapters
00:00 Involving Consultants at the Right Time
19:40 Tailored Consulting for Different Practice Types
25:37 Navigating Consultant Advice vs. Peer Advice in Practice Ownership
32:33 The Importance of Commitment in Building a Successful Practice
41:34 Finding the Right People to Achieve Business Goals
Connect With Our Advertisers
Kaleidoscope - https://www.contactkl.com/
GC Orthodontics - https://www.gc.dental/america/campaigns/gcoa-jillallen-2024
SmileSuite - http://getsmilesuite.com/
Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- http://www.practiceresults.com/.
If you like what we are doing here on Hey Docs! and want to hear more of this awesome content, give us a 5-star Rating on your preferred listening platform and subscribe to our show so you never miss an episode.
New episodes drop every Thursday!
Episode Credits:
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Garrett Lucero
The Journey to Jill Allen & Associate: A Peak Behind the Curtain With Jill Part One
6 GIU 2024 · Hey everyone, welcome to Hey Docs!
On this special two-part episode, I will be your guest host, Jordann Killion. In part one, we get to know the one and only Jill Allen. From her start in consulting to the logistics of the services offered at JA&A, we cover it all! It’s a peek behind the curtain you won’t want to miss.
Let’s jump in!
Summary
In this episode, Jill Allen shares her career trajectory and the journey of starting Jill Allen & Associates. She started as a sterilization assistant in orthodontics and worked her way up through various positions in the orthodontic office. She was exposed to consultants and developed a passion for the business side of orthodontics. Jill started her consulting business and faced the challenges of being a startup, including the hustle, rejection, and imposter syndrome. She pushed through her insecurities and built her business on grit. Her why is helping doctors and making the orthodontic industry stronger.
https://www.youtube.com/@jillallenandassociates-heydocs https://www.instagram.com/jillallenandassociates/
https://www.linkedin.com/in/jilljallen/
https://www.facebook.com/JillAllenandAssociates
https://www.tiktok.com/@jillallenandassoc?_t=8mtwB52l9sk&_r=1
http://www.practiceresults.com/
Takeaways
- The importance of grit in building a successful career and business.
- Overcoming imposter syndrome and insecurities is crucial for professional growth.
- The impact of progressive orthodontists on career development and learning.
- The value of listening and communication as essential business skills.
Connect With Our Advertisers Kaleidoscope - https://www.contactkl.com/
GC Orthodontics - https://www.gc.dental/america/campaigns/gcoa-jillallen-2024
SmileSuite - http://getsmilesuite.com/
Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- http://www.practiceresults.com/.
If you like what we are doing here on Hey Docs! and want to hear more of this awesome content, give us a 5-star Rating on your preferred listening platform and subscribe to our show so you never miss an episode.
New episodes drop every Thursday!
Episode Credits:
Hosted by Jill Allen
Produced by Jordann Killion
Hidden Fees in Your Merchant Services : Tips to Save Your Practice Money
30 MAG 2024 · Welcome to the Hey Docs! Podcast with your host Jill Allen.
Today, we have a special guest: Matt Rej, one of the founders of Merchant Cost Consulting, a company that specializes in helping businesses, including orthodontic practices, save on credit card processing fees. We'll dive into what led him to start Merchant Cost Consulting, how his company can assist with fee negotiations and practical tips for managing these costs.
Let’s get into it!
Summary
Matt Rej, founder of Merchant Cost Consulting, discusses the complexities of credit card processing fees and how his company helps businesses, including orthodontic practices, reduce costs. He shares his journey into the industry and the motivation behind starting his own consulting firm. Matt explains the importance of integrated credit card processing systems and the potential cost savings for practices. He also highlights common hidden fees and provides tips for negotiating better rates with processing companies. In this conversation, Matt Rej provides valuable insights into credit card processing fees for healthcare practices. He explains the difference between flat rate pricing and interchange plus pricing, emphasizing that startups should ask for interchange plus pricing. He also highlights the benefits of accepting ACH payments and encourages practices to leverage this option to save money. Matt discusses how his company, Merchant Cost Consulting, helps practices reduce fees and provides ongoing auditing to ensure the best pricing is maintained. He offers three pieces of advice: get multiple quotes, scrutinize statements regularly, and compare fees over time. Matt's top business skill recommendation is effective communication.
https://www.myorthova.com/
https://www.facebook.com/HenryScheinOne https://www.instagram.com/henryscheinone/
https://www.linkedin.com/company/18886399/
https://www.instagram.com/MCCSavings/
Takeaways
- Credit card processing fees can be complex and deceptive, with rates and fees constantly increasing.
- Integrated credit card processing systems offer convenience but can come with higher costs.
- Common hidden fees include PCI compliance fees and auto-enrollment monthly fees.
- Interchange rates are non-negotiable, but processing companies can add markup fees.
- Startups should be cautious of tiered pricing structures and consider flat rate pricing.
- Negotiating rates with processing companies is possible, even for startups. Startups should ask for interchange plus pricing for credit card processing fees.
- Accepting ACH payments can save healthcare practices a significant amount of money.
- Regularly scrutinize credit card processing statements and compare fees over time.
- Effective communication is a crucial business skill for healthcare professionals.
Connect With Our Advertisers Kaleidoscope - https://www.contactkl.com/
GC Orthodontics - https://www.gc.dental/america/campaigns/gcoa-jillallen-2024
SmileSuite - http://getsmilesuite.com/
Chapters
00:00 Introduction and Background
03:06 How Merchant Cost Consulting Helps Practices
06:32 Integrated vs. Non-Integrated Credit Card Processing
09:27 The Truth Behind PCI Compliance Fees
12:45 Unpacking Interchange Rates and Markup Fees
16:13 Challenges for Startups and Negotiating Rates
26:28 The Benefits of ACH Payments
31:30 Reducing Fees with Merchant Cost Consulting
34:57 Auditing Credit Card Processing Statements
41:58 Effective Communication as a Business Skill
Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- http://www.practiceresults.com/.
If you like what we are doing here on Hey Docs! and want to hear more of this awesome content, give us a 5-star Rating on your preferred listening platform and subscribe to our show so you never miss an episode.
New episodes drop every Thursday!
Episode Credits:
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Johnny Mitchell
Top Tips for Navigating Orthodontic Practice Transitions
23 MAG 2024 · Welcome to the Hey Docs! Podcast with your host Jill Allen.
Today, I’m thrilled to have Kim McClesky and Ty Ramsey from Professional Transition Strategies joining me for an episode. Kim and Ty are experts in guiding dental professionals through every stage of practice transitions, from purchasing practices to preparing for retirement. They'll share key considerations for transitioning practices, financial implications, and valuable advice for maintaining trust during these changes.
Let’s get started!
Summary
In this conversation, Jill, Kim, and Ty discuss the considerations and financial implications of selling or purchasing a dental practice. They emphasize the importance of understanding the value of the business and working with advisors to ensure a successful transition. They also highlight the rise of private equity in the dental industry and how it has changed the valuation of practices. The conversation explores the benefits of selling to an OSO or DSO and the potential for increased value through equity in a larger group. Overall, the discussion provides valuable insights for dentists at different stages of their careers. Professional Transition Services (PTS) provides guidance and support for dentists looking to sell or transition their practices. They help dentists navigate the complex process of selling their practice, including vetting potential buyers and negotiating deals. PTS emphasizes the importance of working with experienced professionals who can provide valuable advice and support throughout the process. They also highlight the need for dentists to have a clear goal in mind when considering a practice transition and to consider all available options, including selling to a DSO or individual buyer. PTS offers free practice valuations and a 30-day listing agreement, providing flexibility and support for their clients.
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Takeaways
- Understanding the value of your dental practice is crucial when considering a sale or purchase.
- Working with advisors, such as dental-specific attorneys and accountants, can help navigate the complexities of the transition process.
- Private equity has led to a consolidation wave in the dental industry, offering opportunities for increased value through equity in larger groups.
- Selling to an OSO or DSO can provide financial benefits and centralized operations for tasks like accounting and HR.
- Having a clear plan and starting early in the transition process can lead to a more successful and lucrative outcome. Working with experienced professionals like PTS can provide valuable guidance and support during the practice transition process.
- Having a clear goal in mind is essential when considering a practice transition.
- Consider all available options, including selling to a DSO or individual buyer.
- PTS offers free practice valuations and a flexible listing agreement.
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Chapters
00:00 Introduction and Background
07:27 Key Considerations for Doctors in the Later Stages of Their Careers
11:28 Key Considerations for Doctors Looking to Purchase a Practice
25:13 The Tipping Point and the Role of Advisors
27:10 Vetting Buyers and Identifying Good and Bad Groups
29:48 The Importance of Working with Experienced Professionals
31:37 Considering All Options: Selling to a DSO or Individual Buyer
36:36 The Value of Professional Practice Valuations
Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- http://www.practiceresults.com/.
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Episode Credits:
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Johnny Mitchell
Hey Docs! Hosted by Jill Allen of Jill Allen & Associates. In this podcast, Jill and her guests will cover everything you need to know about building a business. Along...
mostra di più
Hey Docs! Hosted by Jill Allen of Jill Allen & Associates.
In this podcast, Jill and her guests will cover everything you need to know about building a business. Along with giving tips and tools to help you succeed in your own venture. Each episode will weave a narrative journey about innovators, entrepreneurs, doctors, and companies that are making an impact. So whether you are a brand new doctor building a practice or an entrepreneur looking to build an empire, there is something here for you!
Tune in weekly. Episodes drop every Thursday!
mostra meno
In this podcast, Jill and her guests will cover everything you need to know about building a business. Along with giving tips and tools to help you succeed in your own venture. Each episode will weave a narrative journey about innovators, entrepreneurs, doctors, and companies that are making an impact. So whether you are a brand new doctor building a practice or an entrepreneur looking to build an empire, there is something here for you!
Tune in weekly. Episodes drop every Thursday!
Informazioni
| Autore | Jill Allen |
| Organizzazione | Mainbox JA&A |
| Categorie | Gestione , Imprenditorialità , Medicina |
| Sito | www.spreaker.com |
| events@practiceresults.com |
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