Episode Details
Back to Episodes#850: Consider This When Buying/Maximizing a Practice
Description
Kiera lists out exactly what doctors should be looking for when either buying a new practice or hoping to systematize their current one. Considerations such as: What’s the AR? What procedures are being offered and is there room to add more? How is the team communication? How are supplies purchased?
Then she suggests how to boil down the most critical items to implement and ways to go about doing so that won’t overwhelm the team.
Episode resources:
Practice Momentum Group Consulting
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Transcript:
Kiera Dent (00:00.91)
Hello, Dental A Team Listeners, this is Kiera and I am so excited to be podcasting with you today. So I just wanted to get on and do a quick tip, tactical one with you of tips of buying a practice. But if you already own a practice, some things you can do to just maximize and optimize. There was a really interesting post where we found that someone bought a practice. They wanted to own their practice.
They thought the practice was going to be a great practice. They were super excited that the schedule was full. So when vetting the practice, they saw full schedule. They also saw like perfect. The patients are coming in. They had a lot of amalgams, a lot of opportunity for them because they weren't doing amalgams. So like we could do that. When they were visiting the office before the sale, they couldn't figure out like why the AR was so high. And good news that they didn't buy the AR. So some tips on that.
And then they were just kind of looking at like, why would like the business aspect of the practice and CE and things like that. And like, they were trying to figure out fraud and ordering supplies. And so they made this list of changes that they wanted to do. And I read this post in this article. So this person's listening. Hello, nice to have you. Thanks