In this rare and highly anticipated episode, Dr. George Hariri sits down for an exclusive roundtable with pre-owners Elijah Dunlap, Ben Vickery, and Josh Ward from the Business-Minded Dentist podcast. If you are a dental student or associate looking to transition into ownership, this conversation is packed with proven dental business strategies to help you avoid the common traps that cause 30% to 40% of new owners to make less money than they did as associates.
George unpacks the exact dental business strategies Shared Practices uses to help clients achieve 37% to 39% growth in their first year of ownership. This roundtable with pre-owners dives deep into the realities of the modern dental market and why the days of simply "hanging a shingle" are over.
Here is what you will learn from this essential conversation:
Target "Neglected" Practices: The most explosive growth happens when you acquire a clinic from a retiring doctor who has underdiagnosed their patient base for years. These established patients essentially become a goldmine of new, high-value treatment needs.
Prioritize Facility Size: A single-doctor, three-operatory practice is a dying model. You must buy a facility with at least six (preferably seven to twelve) operatories to successfully implement group dental business strategies.
Leverage Access to Care: The easiest way to succeed without spending a fortune on marketing is to open a practice in a rural or semi-rural area where patient demand vastly outweighs the supply of dentists.
Master Speed and Specialty: Before buying a practice, use your first four to six months out of dental school to build clinical speed and master endodontics and surgical extractions. Referring these cases out kills your profitability and damages patient goodwill.
Don't Fear Staff Turnover: Retaining a legacy team is important, but not if it prevents you from establishing your own modern clinical culture. Establish your expectations on day one and let patient retention fund the transition of staff who refuse to adapt.
Ready to take the next step in your dental practice journey? Visit https://sharedpractices.com
to learn more about our Buyer Representation and Coaching services, designed to help dentists buy, grow, and optimize profitable practices. You can also use our Free Look to evaluate dental practice opportunities with real data before making a decision. For daily Dental Moneyball insights, strategy tips, and updates, follow us across our social channels.
What is Shared Practices | Your Dental Roadmap through Practice Ownership?
A bootcamp in small business ownership and practice management for dentists, giving the new graduate a roadmap to successful practice ownership. We interview the best dentists, experts, consultants and more on our weekly show. Here's the topics we will be covering in our 8 Seasons:
1. First Years as a Dentist
2. Think Like a Business Owner
3. Money and Numbers
4. Startups, Acquisitions, and Partnerships
5. Internal Systems
6. Marketing & Growth
7. Leadership, Vision and Culture
8. Beyond Dentistry
Go to SharedPractices.com to download the 8 Season Roadmap.