Richard and Caitlin dive into "metric blindness" in dental practices, focusing on how to understand and manage Accounts Receivable (AR) for financial health.

Key Highlights:

Understanding Accounts Receivable (AR):

AR reflects the money owed for services provided but not yet collected. Learn how it can be a positive indicator when managed correctly.

Key Metrics for AR Management:

Metrics like the collections ratio, AR to production ratio, and aging categories provide a clear view of your practice’s financial health.

Proactive AR Strategies:

Discover proactive measures to keep cash flow healthy, like setting clear collection guidelines and accurate cost estimates.

Don’t let metric blindness limit your practice's success. Find out how to manage AR effectively!

Have a question or topic you want us to cover?
Reach out to us on social media or our website at www.sharedpractices.com. Don’t forget to subscribe and leave a review if you enjoyed this episode!

In this episode of the Shared Practices Podcast, the focus shifts to understanding the role of the Dental CEO and how practice owners can embrace a leadership mindset to drive growth and efficiency. Learn what it means to operate as a CEO and how this perspective can transform your practice’s success.

Key Highlights:

1. The CEO Mindset:
   Shifting from a clinician’s mindset to a CEO mindset allows practice owners to lead their business strategically, focusing on long-term goals and team development rather than day-to-day tasks.

2. Building Systems for Growth:
   Discover the importance of creating systems that allow your practice to operate efficiently without your constant involvement. This is key to scaling and freeing up your time for leadership responsibilities.

3. Leadership & Team Management:
   Leading as a Dental CEO means developing your team, fostering accountability, and empowering them to take ownership of their roles, which ultimately drives practice growth.

Ready to step into the role of Dental CEO and take your practice to the next level? Tune in now to gain insights on leading your practice to success!

Have a question or topic you want us to cover?

Reach out to us on social media or our website at www.sharedpractices.com. Don’t forget to subscribe and leave a review if you enjoyed this episode!

In this episode, George discusses every dental practice owner's crucial decision: Should you prioritize profit or focus on growth? He breaks down the key differences between these strategies, explains how to assess which approach fits your practice, and shares the financial metrics that matter most. George also explores how practices can achieve profit and growth through the right balance.

Key Highlights:

• Profit vs. Growth Strategy:
  Understand the differences between maximizing profit (cutting costs, optimizing cash flow) and growth (reinvesting profits to expand).

• Critical Metrics for Profit and Growth:
  Learn about the essential metrics to track, such as profit margin, overhead percentage, revenue growth, and patient acquisition.

• Choosing the Right Path:
  Get guidance on prioritizing profit or growth based on your practice's goals, financial health, and long-term vision.

• Balancing Profit and Growth:
  Discover strategies to balance profit and growth by optimizing current operations while reinvesting for the future.

Have a question or topic you want us to cover?

Reach out to us on social media or leave a comment on our website at www.sharedpractices.com. Don’t forget to subscribe and leave a review if you enjoyed this episode!