Do you have questions about medical billing? Are you unsure whether medical billing is right for your practice?
I get more questions about medical billing than anything else. It’s an area that is laden with much confusion and overwhelming information. My goal, in this week’s T-Bone speaks podcast, is to help dentists make a decision as to whether or not medical billing is right for their practice.
I invited Hootan Shahidi (President at Cross Over Dental Enterprises) to talk about medical billing, and here's what we discussed:
After listening to the podcast episode, I hope you feel a lot more informed about whether medical billing is right for you.
For more information on medical billing click here.
There are two hats that every dentist has to wear.
Hat number 1 is the dentist as an employee. Hat number 2 is the dentist as a leader.
Many people think that a leader is only the person who owns the practice. I think this is a misconception, and in my opinion whether you are an associate, a hospital dentist…or whatever your role may have, you always wear both hats.
All dentist are leaders, regardless of whether they own the practice. Plus, all dentists who own the practice still have a role as an employee in the practice.
In this podcast Chuck McKee and I explore the role of a dentist an employee – looking at developing your clinical skills, chairside manners and being part of a team.
We then explore the role of a dentist as a leader – looking at communications skills, personal branding, business leadership and working with team mates as a business leader (whether you are an owner or not).
To find out more head to http://tbonespeaks.com/two-hats/
3 Ways to Grow Your Dental Practice Show Notes
Whether you want more money, more time, or more personal satisfaction, growth is essential to meeting your goals with your dental practice. There are 3 ways that you can successfully grow your dental practice, and this podcast shows us the best routes for growth and increased revenue.
Option #1: Raising Fees
If you want to start making more money, you’ll need to take a look at your fees.
Raising your fees is accomplished in several ways. You can start by doing a fee analysis, negotiate your fees, look at average daily rates, and drop your worst contract—which results in more time to bring in patients who pay higher rates.
Option #2: Seeing More Patients
I typically don’t advocate seeing more patients. It increases overhead and goes against everything that I teach. However, sometimes you must choose this option if your practice is struggling.
If you choose to see more patients, it’s imperative to be very efficient with your schedule. You’ll also want to update old tools and technologies to help procedures go smoothly as possible. This is about finding the sweet spot on how much time you spend on procedures.
Option #3: Do More Dentistry
Doing more dentistry is what my training is all about. This is a different mindset over simply seeing more patients, and it’s a completely different (and better) way to grow your dental practice.
The top 4 ways to do more dentistry includes:
Expanded procedures that will help put your dental practice on the fast track to exponential growth. These procedures include sleep apnea, adult orthodontics, dental implants, and oral sedation.
[0:30] The definition of practice growth and 3 ways to grow your dental business
[1:45] Raising fees
[11:30] Seeing more patients
[17:55] Do More Dentistry
[23:00] Expanded Procedures
[26:47] Why you should include expanded procedures and how to get a written action plan to move your dental business forward