Episode #289: The Most Effective Way to Lower Your Practice Overload

  1. April 25, 2024
In this episode the hosts delve into the topic of reducing practice overhead in dentistry. They emphasize the importance of addressing rising expenses, particularly in the post-COVID era, where overhead costs have surged due to inflation and increasing wages.
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In this episode of The Less Insurance Dependence Podcast, hosts Gary Takas and Naren Arulrajah delve into the topic of reducing practice overhead in dentistry. They emphasize the importance of addressing rising expenses, particularly in the post-COVID era, where overhead costs have surged due to inflation and increasing wages.

The hosts present a case study illustrating the impact of transitioning from in-network to fee-for-service, highlighting significant revenue increases and profit gains. They emphasize viewing PPO adjustments as marketing expenses and advocate for dentists to regain control over fee setting by resigning from PPO plans.

Gary recommends seeking guidance from the Academy of Dental CPAs and conducting a marketing strategy meeting to reduce overhead and increase profitability. 

Overall, the episode provides valuable insights into addressing practice overhead challenges and emphasizes strategic decision-making to enhance practice profitability.

5 Easy strategies for a better dental practice in 2024 beyond
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Episode Timestamps

  • 00:00:51 – Introduction to “The Less Insurance Dependence” podcast.
  • 00:01:22 – Introduction to the topic: “The Most Effective way to Lower your Practice Overload”
  • 00:01:29 – Announcement regarding a live event with Ali Oramchian, which is to be held on the 8th of May, 7:00 PM ET
  • 00:03:53 – Discussion on the most effective ways to reduce overhead.
  • 00:06:42 – Explanation of the ways to reduce overhead via a case study.
  • 00:15:46 – Encouragement to book a Marketing Strategy Meeting.
  • 00:16:56 – Encouragement to Book a Coaching Strategy Meeting.

Resources

Schedule a Free Marketing Strategy Meeting with Ekwa!

Schedule a Free Coaching Strategy Meeting with Gary Takacs!

Become a RIDA Member!

Register for the Upcoming Webinar

Gary Takacs

Gary Takacs One of Gary's most significant achievements as a dental practice management coach is transforming his own practice, LifeSmiles, from one that was infected with PPO plans, no effective marketing strategy, and an overhead of 80% to a very successful dental practice that is currently one of the top-performing practices in the US.

With over 2,200 coaching clients, Gary has first-hand experience transforming insurance-dependent practices into thriving and profitable practices.

Through his Personalized Coaching Program, Gary shares access to the systems, strategies, processes, and experience gained over 41 years of coaching dentists and transforming over 2200 practices worldwide.

Learn More: www.thrivingdentist.com/coaching/
Connect with Gary Takacs on Linkedin

Naren Arulrajah

Naren ArulrajahAs CEO of Ekwa Marketing, Naren has over a decade of experience working with dental practices and helping them attract the ideal type of patients to their practices. It is his goal to help dentists do more of the type of dentistry they love with the help and support of effective digital marketing.

Ekwa’s "Done-For-You" Digital Marketing model blends fundamental persuasion principles with an all-in-one Digital Marketing solution to help your ideal patients find you and choose you for reasons other than being on their insurance plan.

If you’re interested in finding out if Ekwa is the right fit for you and your practice, book a Free Marketing Strategy Meeting with Ekwa’s Marketing Director, Lila Stone.

Book Free Marketing Strategy Meeting: www.lessinsurancedependence.com/marketing-strategy-meeting/

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