ZenOne Podcast is a place where we combine our 2 passions. One is to help improve dental practices through efficiency (think of streamlined process, organization, Zen in your office life) and interviewing interesting people.
#78 Dr. Jack Fan: NYU College of Dentistry; Moving to Austin; Keys to a Successful Private Practice
Welcome to Episode 78. In this short episode, I interviewed one of the early ZenOne customers and someone whom I admire for his work ethic and humbleness. Dr. Fan shares the story of growing up in Claremont California, going to dental school in New York, and settling in Austin.
Timestamps:00:00:40 When Dr Fan started his practice
00:01:02 Dr. Fan's bold relocation to Austin
00:02:01 Becoming a dentist
00:04:51 Looking for the first job
00:06:48 Purchasing a practice
00:09:40 One patient at a time
00:12:12 Why Dr Fan selected his dental school
00:13:42 Constant self-development and self-education
00:15:41 How technology helps Dr Fan achieve results
00:16:21 When you work for a DSO you are driven by numbers
00:17:53 Unwinding After a Long Day
00:20:51 Dr. Fan's Aspirations
00:21:40 Ownership is not for everyone
#77 Richard Markules, Garrison Dental
Welcome to Episode 77 where we visit Garrison Dental Solutions in Michigan. We met with the team, toured the manufacturing facility, and discussed the challenges of serving practices across the country. At the end of the visit, I sat down with the Director of Sales for North America, Richard Markules
00:03:00 Introduction to dental
00:04:30 Garrison started in the basement
00:06:30 What is the sales process?
00:07:45 What has changed in Dentistry in the last 10 years?
00:09:00 What does make private practice strong?
00:10:33 How often do the owners of Garrison go to the factory?
00:11:26 Culture at Garrison Dental
00:13:45 How to align yourself with the right partners
00:16:20 Educational resources for dental teams
00:17:20 Closing Notes
#76 Dr. Scott Goldman and Dr. Peter Boulden on DSO vs Private Practice, The Good, the Bad and the Ugly
Welcome to Episode 76 where I’m joined by my good friends Dr. Scott Goldman (LinkedIn) and Dr. Peter Boulden DDS (LinkedIn). On this podcast, we debunk all the pros and cons of selling a practice to DSO (2 times) and he learned and experienced all of the things DSOs offer. On the other hand, Dr. Boulden resisted the urge to sell to DSO for years and kept building his group in Atlanta to now 8 locations in Georgia. Dr. Boulden is also a co-host of Bulletproof podcast and Bulletproof Mastermind to help private practices continue staying private.
Hope you enjoy it.
(00:01:25) Dr. Scott Goldman's introduction
(00:02:28) Dr. Peter Boulden's introduction
(00:04:30) Scott, Why did you sell to DSO? $32mm revenue, 12 locations, and 8.5 EBITDA
(00:06:18) How much did you sell it for?
(00:08:29) Are you a Platform practice for Private Equity?
(00:12:25) Build one practice really well and get a better multiple
(00:14:40) Scott breaks down the details of his acquisition
(00:18:52) “I’ve never seen less than 5 years you need to stay as a selling doctor, Isn’t that crazy”
(00:20:20) What is the recapitalization?
(00:21:42) The effect of the high-interest rates. Continuation vehicle is a new thing. What is it?
(00:23:00) difference between Private DSO/dentist-led/backed and 100% PE-backed
(00:24:02) Dr. Boulden real rub with the PE-backed DSOs
(00:25:33) The pros of the DSOs.
(00:27:36) “Partnerships often don’t work”
(00:30:37) “I can guarantee you when they are private they are run better than a DSO”
(00:31:10) What are the emotional things that people do not talk about
(00:34:30) No one washes the rental car!
(00:36:44) No Thy self!
(00:38:55) What is the other option?
(00:39:00) “Private Practice Valuations are going to stay stable to other private practice doctors. Those valuations will hold. DSO valuations are only going to go down”
(00:42:40) Are you Redlining yourself running your private practice?
(00:44:00) 4 things to do before selling the practice
(00:46:45) “It wasn’t worth it for me at some point to continue” Dr. Goldman
(00:48:00) How Dr. Goldman started with 780SF, 2 chairs, FFS, $997 in collections with 75% take home.
(00:49:45) Ownership is not for everyone
(00:54:05)” I wanted to buy time” Dr.Goldman
(00:56:28) How to owner finance to your associate?
(01:02:30) Closing thoughts and we discuss what makes dentistry so great!
#75 Big Announcement!
Welcome to Episode 75 where we discuss a big announcement we made about future plans of Zen Supplies and introduction of the new platform -ZenOne. I asked Delaney Barber (Practice Success Manager) and Jillian Gomez (Partner Vendors Manager) to join me on this podcast to share the news and the feedback we received so far. Jill shares the details of her work of adding thousands of SKUs and most importantly the Quality process. This is a short and sweet episode to give listeners a glimpse into the inner workings of Zen Team!
Book a demo to experience the new platform in action: zensupplies.com/demo
#74 Brad Freeman: “GPO can save your Dental Practice $39,000 a year, on average!”
Experienced Operations Officer with a demonstrated history of successful work in the Supply Chain and Logistics industry. Skilled in Cash Flow, Financial Operations, Manufacturing Operations, Warehouse Operations, and Warehouse Control. Strong finance professional with a Bachelor of Business Administration - BBA focused in Accounting and Finance from the University of Central Arkansas. Timestamps of our discussion: (01:40) What is holding dental manufactures to go direct (Direct to Consumer Model)(04:45) Would manufacturers like 3M ever go direct and when? (07:05) The origin story of Source Club(11:38) What is GPO (Group Purchasing Organization) (12:31) How does the GPO make money?(16:09) Why Dental GPOs are not as common as medical and what or who is stopping the growth? (19:34) The wrong side of the DSO arbitrage (22:23) What is dental real inflation? (23:15) COVID prices are still in place (29:29) Why do you need to utilize a single sign-on procurement software? (41:10) How should private practice interview and choose the right GFPO for them? (46:09) Is it all about pricing when it comes to GPO? (50:14) Savings in dental supplies can allow you to hire an additional assistant(52:59) Without a procurement platform it’s hard to utilize the full value of a GPO(54:09) Evaluating GPO comes hand and hand with evaluating procurement software(56:26) There needs to be an independent evaluation of ALL procurement platforms(57:54) Not all Purchasing platforms are the same. How to evaluate the right fit for you and what questions to ask? (58:39) Can Private Practices outpace in growth of the DSO segment? (1:03:14) Current environment of the DSO segment
#73: Danielle Avila & Laura Bettencourt RDH “Now is the best time to be fearless in dental”
Today I had a chance to discuss all things hygiene with Laura and Danielle. They met 15 years ago at th hygiene schools and since then stayed friends and 12 months ago started Diamond Dental Hygiene Career Coaching. On this podcast we discuss:
What holds most of the hygienists back?
How to manage a toxic environment and when is the time to call quits?
How to build a nurturing Growth mindset?
What causes the burnout?
Characters traits of a great dental hygienist?
Does everyone need to be a leader?
Some of the negatives of a dental hygiene profession during Covid
Danielle’s Bio & Laura’s Bio
To book a free consultation click here
Danielle shares her burnouts and how she was able to grow personally and professionally during the pandemic. (2:52)
What caused the burnout? (5:02)
How do you know if your work environment is a toxic environment? (7:15)
How to deal with negative talk? (11:35)
Lead by example, instilling a strong work ethic within the team, whether it be a dentist, hygienist, doctor, or office manager. (13:54)
The importance of being a solid team player. (16:30)
Creating a solution to the problem through coaching strategies with your clients. (21:39)
Laura explains how she helps her clients change their mindset so they can work more effectively. (23:04)
How can burnout be avoided? (25:40)
Laurie talks about the importance of cohesive harmony throughout work-life balance. (30:00)
importance of recognizing who you are authentically, as the same things won't work for everyone. (31:57)
How to design your life as a hygienist? (34:55)
Danielle shares the importance of confidence and not being afraid. (37:12)
The importance of repetition and timings. (39:34)
Where the growth happens from your failures. (44:04)
How to describe a great hygienist? (46:06)
Skills and character traits that hygienists are missing today. (47:58)
The importance of giving as well as receiving. (49:21)
What should dental assistants expect from you? (51:40)