Provide: The Path to Owning It

Diversity, equity, and inclusion (DEI) are huge topics at today's largest companies. But, what about at your practice, especially when you're a small business owner? How should we go about fostering a culture of inclusion when we only have a team of several people? Answering these questions is key to building a practice in which the best candidates will want to work, and does the most good for the...

Aspiring and established business owners often share a common goal to make a difference in their community beyond their place of business.  Many successful business owners are actively involved in community service, donating their time, skills, and resources to give back. However, starting a philanthropic effort from scratch takes inspiration. So, in this episode, we're introducing you to two prov...

In a field where helping others is one’s daily routine, the irony is that so many healthcare providers don't seek help themselves when they need it. May is Mental Health Awareness Month; and in this episode, we're attempting to remove the stigma around discussing one's mental health, because in the healthcare industry, the need is seemingly greater than in others. The statistics are shocking: Heal...

Thirty years ago, if you were starting or acquiring your first animal hospital, it was common to introduce yourself to competing owners to seek their advice. Now, there are many other informative resources for aspiring hospital owners. This week, we're embracing traditional ideals, introducing two established providers in animal care to discuss what they’ve learned from their professional journeys...

For hospital owners, associate buy-ins can be an important tool for retaining top talent and planning for retirement. For veterinary associates, it can be the next step toward owning your future. No matter which side of the fence you’re on, a buy-in opportunity could be the right decision for you. In this episode, we're breaking down buy-ins with one of the industry's leading experts, Ed Guiducci....

Deciding to build your own healthcare facility is a big decision. Realistically, it's just the start of a long, nuanced journey. Working with a partner who specializes in the healthcare industry can potentially save you hundreds of thousands of dollars and months of delays. In this episode, we're talking to Ron Evans and Joe Golden from Cadre Construction, a Texas-based general contractor providin...

If you go too big, you're locking yourself into an expensive lease that could limit your cash flow. If you go too small, you could stunt your growth and trap yourself in a space that feels tighter by the day. Healthcare providers face a crucial imperative to get it "just right" when they hunt for commercial real estate. And that's certainly heightened by current market challenges, the impact of hi...

If a practice owner's team is their most important resource, then managing that team effectively should be a top priority. Given the complexity of national employment laws and local requirements, the DIY approach to HR can pose a lot of challenges. In the event of an error – even an innocent mistake – a lawsuit can easily result. In this episode, we're talking to Ali Oromchian, co-founder and CEO...

With women now constituting more than 80% of veterinary industry professionals, the industry is radically different from last generation's status quo. While there are more opportunities for women than ever before, female representation among hospital owners and executives still lags behind the curve. In this episode, we're talking to Dr. Sarah Baker, DVM and owner of Lane Veterinary in the Chicago...

Let's be honest. It’s not every day that you have to hire an attorney. It can be an intimidating process filled with new jargon, details, and processes to which you may have never been exposed, and it's also super important to get it right. In this episode, we're speaking with Matt LaMaster, a Michigan-based healthcare attorney, to discuss the importance of hiring an industry-specific attorney and...

Marketing is one of those things that's easy to take for granted; that is, until you experience great marketing, and then it's hard to live without it. But, in 2024, marketing is more than just mailers, social media, or ad buys. It can be all those things and more or — none of them. Most importantly, though, savvy marketing is about gleaning pivotal insights from real-time data about your customer...

Nothing moves through a dental office faster than supplies. Managing inventory is a huge job with major impacts on the bottom line. If something runs out — work in the practice could grind to a halt. Far too often; however, the inventory management system is held together by one person, a ton of Post-It notes, and some phone numbers in a smartphone. Albeit to say it's less than ideal and could lea...

"Only fools rush in." It's not just a wise dictum about falling in love. It's also great advice for startup dental practice owners about hiring the right people. In today's competitive employment market, it's more important than ever to align your values with employees, offer them competitive compensation packages, and create room for them to grow. How do you make time and build a plan for this am...

David Harris has one of the most interesting jobs in dentistry. When office managers, staff members, or business partners steal from dental practices, it's his job to uncover the embezzlement, stop the crime, and document the evidence needed to fire and convict the perpetrators. After doing that job for more than 30 years, he's seen and done it all. Today, David is the Chief Executive Officer of P...

Be honest. Are you sick of hearing about the "seller's market"? In current market conditions, it doesn't seem likely that will change any time soon. If you're hoping to achieve financial independence by purchasing a healthcare practice, it's absolutely critical to put forward an offer that appeals to sellers and gets you to "accepted". In this episode, we're talking with Nick Elliston, a managing...

From fresh-out-of-dental-school to mid-career-earner to aspiring-retiree, each phase of a dentists' career is unique. Each phase requires a different approach to wealth management (if a dentist plans to thrive in their professional and personal lives). Picking a winning financial strategy doesn't start with finding the right balance between your 401k and your Roth — according to today's guest. Ins...

As a new dental associate, you can be forgiven if employment contracts make your head spin. They can be long, dense, and packed with terms that non-lawyers have never heard of. Before you breeze through your employment contract like it's the Instagram terms-of-service, remember—this document could shape the trajectory of the rest of your career! In this episode, we're bringing in a ringer to help...

Building relationships with patients can be one of the most rewarding parts of owning a healthcare practice. (Or, for veterinarians, also building relationships with the patients' owners...) What happens when you decide you want to expand your practice into multiple locations? Will you still have the time to dedicate to connecting with patients? How will you foster the kind of culture you want in...

Growing a healthcare practice is a journey. If you want to be successful, it helps to start with a destination in mind. Thankfully, other providers have been down these roads and have learned from the decisions that ultimately led them to where they wanted to be. In this episode, we're going to share their journeys so you don't have to learn those same lessons the hard way. Dr. Richard Low is CEO...

When starting a healthcare practice, it's easy to get caught up in the details – the who, what, where, and when of opening your practice, so to speak.. But have you stopped to think about the "why"? According to this week's guest, Stephen Trutter, too often the "why" of practice ownership is an afterthought – if it's considered at all. As CEO at Ideal Practices, a dental consulting firm that’s ope...

For many practice owners, their business is their life's work – a true personal and professional investment. So when the time comes to sell, it's crucial for owners to maximize the return on their investments – we’re talking decades of procedures, critical business decisions, and long days. What many sellers don't realize is that the decisions they make in their final months as owners can have an...

Buying or selling a healthcare practice is usually one of the biggest financial decisions of a doctor’s life. It can be accompanied by stress, uncertainty, and even conflict. Since it's something most people do only once (maybe twice), the laws and best practices that govern practice transition can be unfamiliar or confusing. In this episode, we're joined by Dr. Lee Maddox, who has more than 20 ye...

Finding, recruiting, and retaining talented staff is one of the hottest topics in the healthcare industry right now (and seemingly everywhere else for that matter). With labor posing one of the biggest challenges most practice owners face today, we're exploring an unconventional new solution that’s gaining popularity in the wake of the COVID-19 pandemic: remote staffing for dental practices. Our g...

The rise of corporate dentistry and the growth of Dental Support Organizations (DSOs) is top of mind for many aspiring practice owners. The prospect of competing with these big players can be enough to keep some providers from taking that critical leap into ownership. It's not that DSOs provide better care and service to their patients – it's that many have more advanced systems and infrastructure...

When it comes to legally binding documents, there are no do-overs. What you sign is what you get – sometimes for the next 10, 15, or even 20 years! When it comes to negotiating a commercial real estate lease for your new or expanding practice, you’ll want to make sure your i's are dotted and your t's are crossed long before you start negotiating with a landlord. And, luckily, we know an expert. Jo...