Episode 753

753: Maximize Your Margins: Slash PPO Write-Offs and Skyrocket Your Dental Profits – Dr. Barrett Straub & Miranda Beeson

Published on: 3rd July, 2024

753: Maximize Your Margins: Slash PPO Write-Offs and Skyrocket Your Dental Profits – Dr. Barrett Straub & Miranda Beeson

Do you want to own a practice just for someone else to control it? If not, don't miss this episode! Kirk Behrendt brings in Dr. Barrett Straub, ACT’s CEO, and Miranda Beeson, ACT’s director of education, with a treatment plan to get you out of the thumbs of insurance so you can achieve financial freedom and personal fulfillment. With careful, strategic planning you can start removing some — or all — PPOs and reshape your future! To learn the steps to a better practice and a better life, listen to Episode 753 of The Best Practices Show!

Learn More About Dr. Straub & Miranda:

More Helpful Links for a Better Practice & a Better Life:

Episode Resources:

Main Takeaways:

  • Whether you're looking to drop PPOs or not, try out ACT’s PPO Roadmap.
  • Insurance isn't what's killing your practice — but they will if you let them.
  • You don't need to become anti-insurance to achieve financial freedom.
  • Don't start indiscriminately dropping PPOs. Plan and be strategic.
  • Clearly define what growth means for you and your practice.
  • There isn't a singular path to reach financial independence.
  • Know which data points to track to start slashing write-offs.
  • Follow the 12 steps to align and strategize with your team.

Snippets:

0:00 Introduction.

6:52 About ACT’s TTT, BPA, and Pro Coaching.

10:26 Why this is an important topic.

12:15 Objectives.

13:52 Insurance independence, explained.

21:22 Improve your thinking and mindset about dentistry.

23:04 Figure out your overhead percentage.

25:26 Figure out your capacity.

26:59 Figure out your new patient referral sources.

28:22 Figure your new patient hygiene re-appointment percentage.

29:53 Figure out your annual patient value.

31:53 Figure out your unscheduled active patients.

33:14 Why you need to join the BPA.

36:50 Figure out your hygiene reappointment percentage.

38:23 Figure out which segment your patients belong to.

40:53 Rank and identify the PPOs you want to remove.

43:32 Read your contracts!

44:48 The 12 important steps to align and strategize with your team.

52:17 Final thoughts.

54:06 Q&A: Navigating plans not allowing out-of-network benefits.

58:02 Q&A: Advice for negotiating fees.

1:02:00 Q&A: Differentiate yourself before dropping bigger PPOs.

1:06:02 Q&A: Advice for limiting PPOs in your schedule.

1:08:24 Name, number, knowledge.

1:11:55 Q&A: How do you juggle growth during this process?

1:14:22 Try the PPO Roadmap today!

Dr. Barrett Straub Bio:

Dr. Barrett Straub practices general and sedation dentistry in Port Washington, Wisconsin. He has worked hard to develop his practice into a top-performing, fee-for-service practice that focuses on improving the lives of patients through dentistry.

A graduate of Marquette Dental School, Dr. Straub’s advanced training and CE includes work at the Spear Institute, LVI, DOCS, and as a member of the Milwaukee Study Club. He is a past member of the Wisconsin Dental Association Board of Trustees and was awarded the Marquette Dental School 2017 Young Alumnus of the Year. As a former ACT coaching client that experienced first-hand the transformation that coaching can provide, he is passionate about helping other dentists create the practice they’ve always wanted.

Dr. Straub loves to hunt, golf, and spend winter on the ice, curling. He is married to Katie, with two daughters, Abby and Elizabeth.

Miranda Beeson, MS, BSDH Bio:

Miranda Beeson, MS, BSDH, has over 25 years of clinical dental hygiene, front office, practice administration, and speaking experience. She is enthusiastic about communication and loves helping others find the power that words can bring to their patient interactions and practice dynamics. As a Lead Practice Coach, she is driven to create opportunities to find value in experiences and cultivate new approaches.

Miranda graduated from Old Dominion University, and enjoys spending time with her husband, Chuck, and her children, Trent, Mallory, and Cassidy. Family time is the best time, and is often spent on a golf course, a volleyball court, or spending the day boating at the beach.

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About the Podcast

The Best Practices Show with Kirk Behrendt
Elevate Your Dental Practice: Insights & Strategies from Industry Leaders
Welcome to The Best Practices Show, hosted by Kirk Behrendt, founder of ACT Dental (https://www.actdental.com/) and a leader in dental practice coaching. This podcast is your gateway to discovering the hidden gems and tactics used by the most successful dental practices worldwide.

At ACT Dental, we have meticulously curated strategies that have consistently proven effective in elevating dental practices. Our podcast, The Best Practices Show, extends our commitment to sharing this wealth of knowledge. Each episode features interviews with renowned dental professionals and industry leaders who have made significant strides in their practices. They share their experiences, insights, and the challenges they've overcome, offering a unique perspective that you won't find anywhere else.

Why should you listen to The Best Practices Show? Whether you're a seasoned dentist, a new practice owner, or somewhere in between, this podcast is tailored to inspire and educate. Our goal is not just to provide you with information but to transform the way you think about and run your dental practice. We delve into topics ranging from advanced clinical techniques and practice management to leadership skills and personal growth.

Kirk Behrendt, a respected figure in the dental community, brings his vast experience and infectious enthusiasm to each episode, making complex topics both understandable and engaging. As the CEO of ACT Dental, Kirk has helped countless dental practices thrive by focusing on holistic development - professionally, personally, and within their community.

Our commitment to authenticity and practical advice sets The Best Practices Show apart. We don't just talk about theories; we dive into real-life applications you can implement immediately in your practice. Our community-centric approach means we're always listening to our audience and constantly evolving our content to meet your needs.

In addition to the invaluable insights from our guests, we also provide access to exclusive resources available through ACT Dental. These resources complement the podcast topics and give you a more comprehensive understanding and practical tools to apply in your practice.

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So, are you ready to transform your practice and be the best version of yourself? Join us on this journey, and let's grow together. Hit subscribe and never miss an episode of The Best Practices Show – where we uncover the secrets to the success of the world's best dental practices, one episode at a time.

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Kirk Behrendt