In this episode featuring special guest Brian Hanks, we explore the decision-making process behind acquiring a dental practice, with a particular focus on whether to buy a PPO or a fee-for-service practice. Brian underscores the significance of ownership for career control and financial benefits, advocating for practice acquisition regardless of type but suggesting a bias towards fee-for-service practices if they align with long-term goals. We delve into patient attrition rates, noting lower attrition in PPO practices while stressing the importance of clinical fit and business acumen. Brian offers valuable advice for new dentists, recommending gaining experience before buying and ongoing education in the dental business. Tune in for more information on navigating dental practice acquisitions and optimizing career success through this episode.
Podcast: Play in new window | Download
Time stamps
- 00:03:06 – Is it a big deal or not to make a decision on what type of practice to buy?
- 00:05:28 – Do personality types sort of make a difference in terms of whether I want to do a fee-for-service or PPO route?
- 00:08:42 – When it comes to buying a practice, can you speak to like patient attrition trends?
- 00:14:52 – Is negative 22.3 a balancing act with the aggressiveness of the new, the new practice owner in terms of adding new patients to the practice?
- 00:18:37 – What advice do you have for,, students coming right out of school?
Resources
