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Bulletproof Dental Practice Podcast Episode 65
Hosts: Dr. Peter Boulden & Dr. Craig Spodak
Guest: Dr. Scott Leune, Founder & CEO of Breakaway Practice & Dental Whale
Watch full video of the interview by clicking here!
Key Takeaways:
- Most DSO's don't allow for the dentist to work with them to continue growing their business.
- Breakaway Practice provides DSO infrastructure to provide partnership and value for practice owners.
- Breakaway Practice wants to take the best from corporate infrastructure has today and make it available to a private dentist through a partnership.
- Traditional DSO's are a great benefit for new grads who want guaranteed salary with a lot of CE and ability to move around the country.
- Practice sale strategy all depends on the specific wants and needs of the selling dentist.
- Most Breakaway dentists are entrepreneurs who want multiple locations.
- 7 out of 8 practices should not be purchased by someone who wants to own multiple locations.
- Invest in training, coaching, and learning if you're interested in owning multiple locations. It's a lot of hard work and isn't for most people.
- To get a really high EBITDA multiple you must own lots of locations with a ton of infrastructure and a solid path to continue rapid growth.
- Leune has found there's a tipping point at 11 days being booked out, profits start going down and no-shows start going up.
- Once you're at that tipping point you have a problem and must fix whatever is holding back the schedule.
- January-March are the best months of the year for acquiring new patients, cost-wise. August is also good. Worst times for marketing are December, April-May, and September.
- Dentists need to strive for both clinical AND business excellency.
- Specialists are in the hardest position right now, as GP's are taking over more and more of their business.
- If you're doing what you love and making a good amount of money, perhaps there's no reason to change or do anything different. Not everyone has to be the CEO.
- If you do what's right for the patient, create a really good value-based practice, and have a good following there's plenty of room for you to be successful in the future.
- Figure out the "why" first so you don't end up going down the wrong path. Once you're clear in your decision making, decisions aren't that hard.
Tweetables:
Innovation comes from pain, and not giving up. – Dr. Scott Leune
It's so much easier to make a decision when there's purpose behind it. – Dr. Scott Leune
