Dental Business

This episode is centered around an exploration of the fundamental principles of transitioning dental practices, with a particular focus on the critical elements that contribute to a successful sale. The host, Phil Cole, describes two distinct narratives of dentists who, despite operating under similar conditions, experienced vastly different outcomes upon their retirement. This situation serves to...

Buying a dental practice can be the fastest path to building wealth—but it's also one of the biggest financial decisions you'll ever make. In Part 2 of the Practice Transition Series, Phil Cole breaks down the due diligence process every buyer needs to understand before signing a purchase agreement. Using a real-world cautionary story of a young dentist who overpaid for a struggling practice, Phil...

"The Dental Business Podcast with Phil Cole" Presented by KLAS Solutions You've built your practice from the ground up — but do you actually know what it's worth? In this episode, KLAS Solutions breaks down the real factors that determine practice value, from revenue streams and patient retention to the hidden metrics buyers and investors actually care about. Whether you're years away from a trans...

In this episode... The paramount focus of this podcast episode is the critical importance of cultivating a robust banking relationship for dental professionals, one that extends beyond mere transactional interactions. We delve into the nuances of dental-specific lending, the distinct differences between lenders who understand the unique financial dynamics of dental practices and general banks that...

In This Episode: Why most dental practices struggle with team dynamics The difference between predictive trust and vulnerability-based trust Why healthy conflict is necessary for growth How poor team communication impacts profitability and productivity The hidden cost of employee turnover Why accountability should not rely solely on the doctor The direct connection between leadership and practice...

This episode focuses on one of the biggest business decisions dentists make: whether to lease or buy their practice space. Phil sits down with real estate experts Mark and Ron from Commercial Resources Advisory to talk about how real estate can impact the growth, profitability, and future value of a dental practice. They break down: The difference between leasing and buying Which option makes the...

Takeaways: Understanding the distinction between gross collections and adjusted collections is critical in practice valuation. Buyers must evaluate not only revenue but also the overhead percentage to gauge profitability. The quality and loyalty of the patient base significantly impacts a dental practice's overall value. Staff stability and tenure are essential indicators of a practice's goodwill...

This episode is all about helping dental practices build a marketing plan that actually works. I talk about the difference between just doing random marketing tasks and having a real strategy with clear goals and the right audience in mind. We also break down the basic pieces every practice needs first, like a strong Google Business Profile and a good website, before spending time or money on bigg...

This story shows how even a good dentist can run into serious trouble when the business side of the practice gets off track. Dr. Marcus was a strong clinician with loyal patients, but behind the scenes, his practice was struggling. Collections had stalled, his fee schedule was outdated, and communication with the team was not working the way it should. Over time, those issues started to pile up an...

This episode breaks down why understanding overhead is so important in a dental practice. We talk about how overhead is more than just a number or percentage. It includes everything from staff wages and supplies to lab bills and facility costs, and all of it affects how healthy and profitable a practice really is. We also go over helpful benchmarks and practical tips doctors can use to keep their...

In this episode of the KLAS Solutions Dental Business Podcast , Phil Cole (CEO of KLAS Solutions) talks about one of the biggest moves in dentistry: going from being an associate to becoming a practice owner. Phil shares real-world insight from helping dentists through practice transitions and breaks down what associates need to know before they buy a practice. They cover common mistakes, why unde...

The podcast delves into the multifaceted journey of Dr. Ryan Brunworth, a dentist with over two decades of experience, who shares both his triumphs and tribulations in the dental profession. Initially, Dr. Brunworth's career began with an acquisition of a dental practice shortly after his graduation from the University of Michigan. However, this rapid ascent was fraught with challenges, as he face...

The predominant focus of this discussion centers on the financial missteps frequently encountered by dental practice owners. I explain the five most significant financial mistakes that dentists commonly make, which often lead to suboptimal profitability despite apparent success. We commence with the critical issue of conflating personal and business finances, including tax inefficiencies and dimin...

The Dental Business Podcast enters a new era with its rebranding, emphasizing a dual focus on clinical excellence and business proficiency. Understanding that the traditional dental curriculum often neglects essential business principles, we aim to provide our listeners with a comprehensive toolkit that encompasses financial management, effective marketing strategies, and operational efficiencies....

Takeaways: The procrastination penalty emphasizes the critical need for early planning in exit strategies. Valuation illusions can lead to unrealistic expectations about the worth of dental practices. Understanding tax implications is pivotal to maximizing the proceeds from a practice sale. The successor mirage highlights the dangers of informal transitions without binding agreements. The high inc...

Key Takeaways from your host Phil Cole, CEO of KLASSOLUTIONS The podcast has officially rebranded from the Dental Education Podcast to the Dental Business Podcast to better align with its focus on business strategies for dental practice owners. The episode emphasizes the importance of partnerships in dentistry, highlighting how collaboration can lead to reduced workloads and improved work-life bal...

Got a busy schedule and thin margins? In this episode, I break down the simple math behind hitting  25% profit —and why most dental practices miss it. I’ll show you where money leaks, how to plug them fast, and the key habits that keep your numbers strong month after month. What you’ll learn: The 3 numbers that control profit (and how to track them weekly) A clear target for payroll, supplies...

In this episode of the KLAS Solutions Dental Education Podcast, we're talking about how to lead with heart  and  make clear business decisions. You care about your patients and your team—that’s a strength. But when empathy drives every call, it can lead to burnout, confusion, and lost profit. We'll walk you through simple ways to set fair boundaries, coach with clarity, and still show up...

In this episode, I break down cash discounting—what it is, how it’s different from surcharging, and how to set it up the right way in a dental office. Credit card fees keep rising, and most practices now run far more card volume than they did a decade ago. I’ll show you how to protect margins  without  hurting patient trust or payment flexibility.

Being the first in your family to become a dentist isn’t just an achievement—it’s a journey filled with unique challenges and triumphs. In this video, Phil Cole shares the real-life struggles and successes of first-generation dentists, offering insights and encouragement for anyone carving their own path in dentistry. klassolutions.com

In this episode, we dive into why being truly known and trusted is the cornerstone of a thriving dental practice. We’ll share practical strategies to strengthen patient relationships, build credibility in your community, and create a practice culture where trust drives growth and long-term success. klassolutions.com

Strategic Financial Planning for Dentists: Insights with Jennifer Lee. In this episode of the Solutions Dental Business Podcast, host Phil Cole discusses financial planning with Jennifer Lee, a seasoned financial advisor and founder of Modern Wealth, who has been helping dentists for nearly 30 years. They cover crucial topics such as tax sheltering, the importance of planning for retirement and an...

Key Strategies for Successfully Expanding Your Dental Practice In this episode of the KLAS Solutions Dental Education podcast, Phil Cole discusses the important considerations and strategic roadmap for dental practice owners contemplating opening a second location. Key points include assessing if your current practice is truly maxed out, common pitfalls to avoid, and how to effectively structure y...

Ever have trouble getting patients to agree to the treatment they need? We talk about how to explain procedures and costs in a way that makes sense to patients and builds trust. By using a few simple communication tips, you’ll find more patients saying “yes” to the care they need – a win-win for them and your practice.

Buying vs. Starting a Dental Practice: Insights and Advice In this episode of KLAS Solutions Dental Education Podcast, host Phil Cole addresses a common question from dentists: Should you buy an existing practice or start your own from scratch? Phil explores the pros and cons of both options, sharing real-life examples and key considerations, including patient base, location, financials, active pa...