s true value came into question – a harsh awakening that underscored the importance of understanding the financial intricacies of running a practice.Addressing the Financial MyopiaDr. Reichley offers invaluable lessons on financial literacy within dentistry. He emphasizes the need for practice owners to not only excel clinically but also understand their financial health. This realization led to a partnership with consultants like Jess Webber, who helped him re-navigate his business strategies, focusing on improving profitability and reducing stress.Building a Community of SupportThe importance of community and seeking help is a recurring theme. Dr. Reichley encourages fellow dentists to seek professional advice, elevate their financial IQ, and not shy away from asking for help. By strengthening their understanding of business operations, dentists can make better-informed decisions, expanding their options whether they choose to continue, grow, or eventually sell their practices.Conclusion: Lessons for the FutureDr. Reichley’s story is a powerful reminder of the dynamic challenges faced by dental practice owners. From leadership lessons in the Navy to navigating the financial waves of private practice, his journey underscores the need for continual growth, both clinically and financially. His openness and vulnerability provide a beacon for other practitioners facing similar challenges, reaffirming that with the right support, the future can still be bright.For those interested in learning more or discussing their own experiences, Dr. Reichley is open to connecting through Jameson Consulting. Stay tuned for more insightful conversations on The Jameson Files, where we strive to build a supportive, informed dental community. Until next time, be well and see you soon!
s Role in Elevating Marketing EffortsWhile AI can streamline processes and provide invaluable insights, it doesn’t replace the need for human connection. AI excels in data analysis, helping practices focus on what truly matters. However, human oversight ensures the authenticity and effectiveness of marketing strategies remain intact.Introducing Jameson HubOne of the exciting advancements discussed is the Jameson Hub. This innovative tool helps dental practices evaluate their marketing performance, providing personalized feedback and training opportunities. From analyzing online traffic to offering AI-assisted skill-building exercises, Jameson Hub is a comprehensive resource for improving overall marketing efficacy.Upcoming Opportunities: Workshop and AuditFor those eager to deepen their understanding, the Dental Marketing Operating Systems Workshop is on the horizon. Held on July 9th and 10th in Grapevine, Texas, this event offers hands-on training and strategic planning with experts and peers.Additionally, the complimentary Digital Marketing Audit gives practices a detailed assessment of their online presence, comparing against regional benchmarks and providing actionable insights.Conclusion: Embrace Continuous LearningAs digital marketing landscapes shift, continuous learning and adaptation become indispensable. The Jameson Files encourage dental practices to stay proactive, leveraging the latest tools while honoring the irreplaceable value of personal interaction and relationship-building in dentistry.For more information on upcoming workshops or exploring the Jameson Hub and the digital marketing audit, reach out at JMSN.com or check our social media for further updates. Join us in evolving your marketing strategies for a successful and sustainable practice future.
s essential to stay informed and provide patients with top-quality, reliable products. Birch Tree Hemp is leading the charge in cannabinoid-based oral health solutions, and we look forward to seeing the positive impact these products will have on patients worldwide. Keep an eye on this space for more insights into dental innovations with The Jamison Files.
s insights into dental insurance management provide invaluable guidance for dental practices navigating this intricate field. Staying informed and leveraging resources like those offered through Odyssey Management and the Dental Revenue Network are crucial for continuous improvement and adaptation to ongoing industry shifts. These efforts ensure that practices remain efficient, compliant, and successful in a rapidly changing landscape.This format ensures a clear and structured presentation of ideas without the use of concluding or transitional phrases, as requested.
s a growing need for unique, human-driven content that stands out amidst AI-generated material, emphasizing the importance of authenticity in written works.Continuing Education: Embracing ChangeThe landscape of continuing education in dentistry is shifting towards more niche and focused learning opportunities. Smaller, topic-focused gatherings are gaining popularity, potentially challenging the status quo of larger traditional meetings. Both Webber and Henry note that education paradigms are changing as new generations prefer consuming information through digital channels. Consequently, practices must carefully choose educational opportunities that align with their goals and adapt to hybrid formats that blend online and in-person learning experiences.Staffing Challenges: The Ever-Present ConcernStaffing remains a critical issue within the dental industry. The shortage of clinical team members, particularly hygienists and assistants, persists with little immediate relief in sight. Henry underscores the importance of fostering a positive workplace culture to retain existing staff. In an industry where qualified professionals are in high demand, practices must prioritize maintaining staff satisfaction and engagement to ensure stability.Conclusion: Preparing for the FutureThis episode underscores the need for dental professionals to stay informed and adaptable amid rapid industry changes. From integrating AI thoughtfully into practice and selecting strategic educational opportunities to addressing staffing challenges, the discussion advocates for proactive measures to navigate the evolving landscape of dentistry. In an era where technological advancements and shifting educational preferences converge, practices are encouraged to embrace change to thrive amid industry transformations.
s buy-in is another fundamental aspect of successful practice management. Goal setting and team discussions are the keys to creating a shared vision. When the team is engaged in setting the goals, they are more likely to be committed to achieving them.ConclusionNavigating the intricacies of dental practice management requires a blend of effective leadership, continuous education, and strategic use of technology. By focusing on relationship-building, utilizing existing resources to their full potential, and embracing emerging technologies, dental practices can position themselves for success. Empowering office managers and their teams to lead with intention and integrity will pave the way for a thriving practice environment.
behind changes and making sure that everyone understands the benefits for both the practice and the patients.Embracing New TechnologiesThe episode also tackles the topic of AI in dentistry, recognizing both the hesitancy and the potential it brings. Streeter reassures that AI will not replace the essential human connection central to dental practices. Instead, AI is positioned as an efficiency tool, capable of streamlining workflows and enhancing patient care. Weber and Streeter encourage leaders to approach new technologies with curiosity rather than fear, ensuring they can harness these tools to benefit their teams and practices.Support Systems for LeadersStreeter underscores the importance of office managers and team leaders taking ownership of their roles, effectively becoming co-leaders within their practices. This sense of ownership not only alleviates the burden on practice owners but also promotes a culture of shared leadership. By continuously developing their skills and staying curious, leaders can better adapt to industry changes and cultivate a supportive environment for their teams.ConclusionNavigating change is an inevitable part of working in the dental industry. The insights shared by Lori Streeter in this podcast episode serve as a valuable resource for practice leaders aiming to lead their teams through transitions smoothly and effectively. By embracing change emotionally, communicating clearly, and staying open to technological advancements, leaders can ensure their practices not only survive but thrive in an ever-evolving landscape.
s true self to work and the significance of supporting future leaders. Encouraging practitioners to seek mentors who align with their values and vision was emphasized as a means of fostering professional growth and development.Preparing for a New ChapterAs she transitions into retirement, her decision is driven by a desire for personal balance and quality time with family. Although stepping away from speaking engagements, her passion for dentistry remains vibrant, underscoring the importance of living a life without regrets and pursuing happiness actively.ConclusionHer journey serves as an inspiring testament to a career marked by passion, resilience, and an unwavering commitment to excellence. The insights shared on leadership, culture, communication, and authenticity provide valuable lessons for dental professionals, highlighting a legacy rooted in mentorship and authenticity that continues to inspire.
s compliance journey, Tia Hunter offers an array of resources. You can contact her at TiaCoaches@gmail.com and explore her extensive expertise.Thank you for joining this insightful episode of the Jameson Files. Let’s stay connected, share these vital insights, and work toward an enhanced, compliant practice together. Until next time, be well and take care!
https://youtu.be/QAOFNTZeuqg?si=bWxnKPcXqEtwr4cTIn this episode, the conversation centers on the unique challenges and opportunities facing dental practice owners, with a special focus on intentional planning for the future. The discussion explores the concept of a “family office” approach to financial and business planning, traditionally reserved for the ultra-wealthy, and how this model can be adapted to serve dental professionals at any stage of their careers.Learning from the Past: The Importance of Proactive PlanningA powerful story is shared about a family member who, despite being a successful orthodontist with multiple practices, faced financial hardship due to a lack of proactive planning and coordination among advisors. This experience underscores the need for dental professionals to think beyond day-to-day operations and consider long-term strategies for wealth, legacy, and personal fulfillment.The Family Office Model: Teamwork and CollaborationThe family office model brings together a team of experts—accountants, attorneys, insurance advisors, and more—to work collaboratively for the client’s benefit. This approach relieves practice owners from the burden of coordinating between different professionals, allowing them to focus on what matters most: their patients, teams, and personal lives. By having a comprehensive checklist and regular reviews, practice owners can ensure that every aspect of their business and personal finances is aligned and optimized.The Roadmap Conversation: Defining Goals and ValuesA central theme of the episode is the “roadmap conversation,” a process that helps dental professionals and their families clarify their goals, values, and vision for the future. Rather than focusing solely on numbers or reactive problem-solving, this approach encourages practice owners to define what financial freedom and success mean to them personally. The conversation often reveals that, once basic needs are met, many professionals aspire to give back to their communities and create a lasting legacy.Aligning Values with Business DecisionsThe podcast emphasizes the importance of aligning business decisions with personal values. When practice owners are clear about what matters most—whether it’s family, community, or personal growth—they can make better choices about investments, team building, and practice management. This clarity also helps in communicating vision and expectations to the team, fostering a positive culture and improving retention.Proactive vs. Reactive: The Power of Planning AheadMany of the challenges faced by dental professionals stem from reactive decision-making—responding to crises rather than planning ahead. The episode advocates for regular, proactive check-ins with advisors to anticipate issues like taxes, retirement, and practice transitions. By starting early and staying organized, practice owners can maximize the value of their business and avoid costly surprises.Empowering Teams and Building CultureAttracting and retaining great team members is a hot topic in the dental industry. The discussion highlights the value of engaging with team members about their personal and professional goals, helping them grow alongside the practice. This investment in people not only improves morale but also drives the overall success of the business.Getting Started: The Complimentary Roadmap SessionFor those interested in taking the first step, the episode describes a complimentary “roadmap” session offered by the advisory team. This session helps practice owners and their families clarify their goals and values, providing a foundation for all future planning and decision-making.Key Takeaways:Proactive, intentional planning is essential for long-term success and fulfillment.A collaborative team approach (family office model) can simplify complex financial and business decisions.Defining personal values and goals is the foundation for effective business strategy.Investing in your practice and your team yields the greatest returns.It’s never too late—or too early—to start planning for the future.Whether you’re just starting out or preparing for retirement, taking time to clarify your vision and build a strong support team can make all the difference in your journey as a dental practice owner.
t miss the A Tale of Two Hygienists podcast—a treasure trove of knowledge for every dental professional.Subscribe to the Jameson FilesThank you for joining us on this enlightening episode. Be well, and we look forward to our next engaging conversation on the Jameson Files. Until next time!
re headed. 3. Values-Driven Decisions: Reflect and measure decisions and relationships against core values. 4. Effective Communication: Foster an environment where open and mature communication is a priority. 5. Generational Understanding: Appreciate the values and motivations of different generations to better connect with your team. Moving Forward with IntentionThe journey to a culture that counts involves consistent reinforcement of your practice’s message. This begins with leadership alignment, followed by united team efforts toward shared goals. It’s never too late to ignite the passion within your workplace. Roll up your sleeves, embark on this marathon with commitment, and lead by example. Here’s to crafting a healthy work culture where the only direction to go is up. Let’s infuse our dental practices with purpose, vision, and values, creating magnetic environments that attract and retain top talent. Together, let’s cultivate a culture that truly counts.
s official website, DEW.life, where you can find resources, events, and a welcoming community ready to support and empower you in your professional journey.
re contemplating a future in DSOs or enhancing your current practice, their insights underscore the importance of leadership development, community engagement, and continuous learning.Thank you for joining us on this deep dive into the world of DSOs. Stay tuned for more insightful content as we continue to explore the dynamic facets of the dental industry.
s Grow Coach online virtual coaching program, which provides personalized coaching and learning tools to support your journey. For more insights and guidance, listen to the full episode of the Jameson Files podcast with McKenzie Webb. Continue to stay informed and proactive in your approach to practice growth and service integration for a successful future in dentistry.
re thriving or what resources can I get you? We have to have check-in points, because otherwise that once-a-year performance re
t even know who that boss is. Carrie:Yes. Yes.Geri Gottlieb:Because I had had that.Carrie:And you know that direct experience of being the team member and b
m sure it comes, you know, the insurance piece– I remember talking to you about this when we first connected and we first started with you—the insurance piece is difficult for any dentist no matter what your specialty....
s worth more to them than an x amount of dollars more per hour anytime.Carrie Weber:Yes. There was a study that the ADA Health Policy Institute did about the top reasons hygienists have left a dental practice. What are the top reasons hygienists are leaving? And it also gave a nod to responses that assistants gave of why they left....
s training your new person. Carrie Weber:So you’re just passing on the bad habits.Dana Johnson:Yeah....
ll get back to normal. That is the kiss of death for positive change. So we as leaders have to persist and we have to get really clear on our vision, the why behind the what, the why behind the change, and we have to lead that forward by example and holding people accountable to incorporating the change as effectively, as successfully, and as quickly as possible.So those are the reasons why complacency starts to take root in our businesses and our practices. So the question is for you, of those areas, are there particular ones that hit home for you? What do we need to do to address the culture of performance so that change can be successfully implemented whenever it is needed as your practice or your business evolves. How Do You Gain Confidence?A great book about building influence and being more positively influential and having the aura of confidence and competence is a book called Presence by Amy Cuddy. And in that book, she talks about how they ask people in a survey, they ask those participants of these particular people in business that were considered successful or influential, what were the characteristics about those people that made them influential to them? And the characteristics that they shared was that t
https://youtu.be/9K9JsW0mc-8Below, we’ve compiled the key points discussed in the Jameson Files Episode 145. To enjoy the full episode you can watch on YouTube or listen to our podcast on iTunes, Google Play, or Spotify.Jameson Files Episode 145 - The Emergence of AI in Dentistry with Mike Buckner from PearlCarrie Webber :Welcome to the Jameson Files. I'm your host, Carrie Webber. Thank you for joining us once again for another episode. I hope that you are a plugged in part of our Jameson Files community. Our goal at the Jameson Files is to not only bring you the stories and the successes of your dental peers, but to also bring resources and tools and keep us all on the forefront of what is cutting edge in our profession. And so we are recording live right now from ADA's SmileCon 2022 meeting in Houston, Texas, and I'm thrilled to have a good friend joining us for this episode: Mike Buckner of Pearl. Mike is the Executive Vice President of revenue for Pearl. And if you're wondering what Pearl is, that is going to be the topic of conversation today, because what we are talking about today is artificial intelligence or AI.What role does artificial intelligence (AI) play in the dental profession?Carrie Webber :So when you follow the breadcrumbs of Mike Buckner, he’s usually following along the cutting edge wave of what's happening in dentistry. And today that’s the early stages of artificial intelligence making an impact in our profession. What is this gonna do? How does this serve our community? What are the differences this could make for dental practices? But to start, can you share a little bit of the story of AI in industry and how this has originated and what are the solutions artificial intelligence is starting to bring to the table?Mike Buckner:Sure. So it's really exciting to bring this kind of technology into the dental space. Like you said, I've kind of been a dental tech junkie. In the early days I was over at Solutionreach and helped grow them. And then I had the opportunity to go over to Dental Intelligence, was with them for a period of time, and then with Weave for the last four years, right up until they had an IPO. At that point I kind of thought, “You know what, I'm gonna kind of take a step back and do some consulting. Cause I really wanted to be thoughtful of where that next move was, though I knew it would be in the dental space. 1. Newly Emerging: AI Technology for DentistsAnd I happened upon this AI technology! It's not something that was in the dental space; and that’s kind of shocking to me because it’s been utilized in medicine for quite some time with mammograms, X-rays, and such. Artificial intelligence is not new in the medical space, but it’s very new in dentistry. And this year, Pearl was the first company to be able to have comprehensive FDA clearance to bring this into the dental arena. And in doing so, this new technology really grew and impacted practices. And really the one thing that kind of pushed me over the edge to be a part of this cutting edge technology was that for the first time ever with Pearl, a practice can actually get a very comprehensive report of all of the undiagnosed treatment in a practice. Not unaccepted treatment, but undiagnosed treatment in a practice. And we can do that by analyzing these x-rays with artificial intelligence. AI basically will go in and highlight all of the pathologies.The software generates a very comprehensive report of all of the undiagnosed—not unaccepted treatment, but undiagnosed treatment—in a practice.Carrie Webber :It’s a little mind blowing, you know, I think it's one of those things where seeing is believing. Because through the technology, you're able to pull up your patient's radiographs, and the AI software is pinpointing areas of potential concern or areas that it's identifying as concern.2. Pearl’s Dental AI Software Product — Second OpinionMike Buckner:
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Whether or not to be a part of PPOs is something dental practices frequently ask us. Carrie Webber:
It’s a topic of conversation that we as dental consultants across the country are having with practices over and over again. When I am talking to doctors, they want to take a look at the PPOs they’re in network with and have help in deciding whether to go out of network or not.
We frequently hear, “How do I do that? Is that something that I should be considering?” because they’re starting to feel ragged and burnt out. And so what I’d love to ask our audience today is if this is something that you are considering. Are you starting to feel some pain from the PPOs you’re in network with? And Laura, what are some first steps that you would recommend practices start to look at? What could help them make the right decisions for them in their practice on whether to stay or whether to go?
Biggest Reason Dental Practices Get Out of PPOs Laura Jamison:
Honestly, Carrie, I really believe I’ve been training my entire consulting career to guide dentists away from being so dependent upon the PPOs. When I first started in dentistry, I was working with Dr. Jim Pride at the time, and he was warning that that train was leaving the station. Don’t sign up for these PPOs. They’re going to promise you these new patients, but at the same time, they were patients who only wanted what the insurance would cover.
And so that’s exactly what the dentists are frustrated by. Patients only come in for their hygiene visit because they perceive they’re getting that for free. When any dentistry is recommended, they say, “My insurance won’t pay for that.” And you can only put up with that rejection so much. So the dental practice is left working harder than they ever have while making less than they ever have.
Student Debt and PPO Networks And we have these younger dentists who are coming out of school with a considerable amount of student debt. And they’re asking, “Should I work for a corporation or should I consider associating in a practice that it can ultimately buy?” And when the PPO reductions are actually understood, I think we’re going to find a whole generation of dentists who are going to choose a different route. Imagine having gone to eight years plus of school, with all the student debt, and not being able to really love what you do because of these limitations.
The primary interest in joining the PPO was to bring in new patients. Well, what type of patients are you bringing in? Only the patients that want what the insurance will cover. Worse yet, you have reductions. So the end result is that the insurance companies are reducing their fees by 35% to 45%. You’re working for 45% less than what you could charge. Your overhead is 60%. You’re actually losing money in this situation.
So we really have to first start with “what are you afraid of” when you ask if you should stay or go?
Carrie Webber:
You’re hitting the nail right on the head. We go in and network at these plans almost as if it is a marketing tool. But it’s really because we’re in debt or just getting started. Or the community is very much involved in these plans, so I have to do it to get or keep patients. But what we really need to be asking is: How do you want to take care of your patients? Are you able to take care of your patients in the way that you desire with this practice model?
Start with the Numbers Number One: Active Patient Count Laura Jamison:
So there are some numbers we need to look at when we’re evaluating this subjectively. Number one, what is your active patient count? Now, a lot of dental practices don’t really know. So, I will suggest to you that this can be done through Jameson with the help of Practice by Numbers. Then, once we know the active patient count, we need to compare it to what a general dentist, a single dentist and practice can manage effectively.
Somewhere between 1,500 and 1,650 patients is about what an average dentist can manage without tearing their hair out. One dentist that we talked with today had 3,748 patients. That’s ample for an associate if they want to go that route. But they didn’t because they had student debt to pay off. Plus, they don’t want to pay 30% to somebody else when they’re only collecting 40% to 60% of the fee.
And gives us a great starting point from which to decide. With 3,700 patients, you could decrease to 2,000 patients and still be busy enough. So is it worth the risk that 1700 patients could leave the practice if you switch away from the PPO networks? And that’s where we can allay some of the fear. With this background, they feel they can take the risk—if the patient stays, great; and if they go, things will still be okay.
Number Two: Procedures Billed in a Year The second number is the total number of procedures that have been billed out for a 12-month period of time. Similar to 1,500 to 1,650 being a number to know, 7,500 to 9,000 procedures per dentist,on average, can be effectively managed. And that includes the hygienists.
Number Three: Wait Time for New Patient Appointments And the third thing to take a look at is how long new patients are waiting to get into your practice. Because what we’re seeing, even post COVID, is new patients having to wait six months, four months, three months. You’re telling yourself you need to stick with the PPOs in order to get those new patients. But you can’t even see them for months! What is the point?
So, if we’re able to answer all those questions comfortably, then I recommend that we take a look at which insurance plans we should keep. And take a look at which insurance plans are most risky. The punitive reduction can be as much as 46% to 50%.
Get Out from Under the Third Party After that, we hire some help to look at the contracts and determine which ones can be renegotiated, which ones we want to kee, and which ones we want to disengage from. A lot of times the insurance contractor that you choose to renegotiate your insurance plans can help educate you on an issue that many dentists don’t fully understand, and that is being part of a network.
An umbrella like DenteMax or CareSource is a third party, taking a fee so you can be a MetLife or Cigna or Aetna provider. So the insurance contract where your negotiators are able to develop a relationship directly with Aetna or MetLife or Cigna, cutting out the third party organization that’s taking a cut is so much better.
Give Your Patients Great Alternatives And then the third step is to realize that there are three alternatives for your patient, if you choose to be out of network with some of their coverage.
Insurance Reimbursed Directly Number one, many of our patients are reimbursed by the insurance company directly. I was out of network for three dental appointments. I paid with my HSA card, then my FSA card, and I was reimbursed almost a hundred percent of the fee.
Now when my clients who have gotten out of network get the EOB back, and they see they’d been taking 40% cut, and the patient’s getting 95% of the fee, that takes away their fear of leaving the PPOs right there. But a lot of dentists don’t know this. They don’t know that the patient could be reimbursed directly.
So we, to make it super easy for the patient, will electronically file for them. We’re submitting it for them, making it easy. Typically the patient’s reimbursed within a week to two weeks.
Membership Programs Number two is membership programs. A lot of dental offices are seeing the benefit in providing a membership program where they set a fee in advance. The patient is literally paying for the two exams a year. And then they get a 15% to 20% reduction in fees with no limitations, no frequency limits, no maximum per year. In that membership program, they can have any dentistry they want with that 15% or 20% reduction. And for this, I recommend that you don’t manage it yourself. Hire someone who’s really good at this program.
Help Them Transfer to a Different Practice Lastly, we can offer the patient the alternative of sending their records securely, safely, to the dentist of their choice, if they don’t feel the other options are right for them. If they decide to come back, we’ll welcome them with open arms. Many patients do.
So you can give the patient three choices, and they have time to consider it and decide what’s best for them.
And this is why you want to hire a consulting organization to make sure your systems are in place, your communication with patients is stellar, and that the patient’s experience is something they’re willing to pay for.
Carrie Webber:
Such a great starting point and some great perspective, Laura. So, do I stay, do I go, and how do I make this decision for myself? There are numbers to look at. There are steps you can take. There are tools that you can bring into your practice or resources that you can lock onto to help you make the right decisions, execute those decisions, and get yourself on a healthier path forward for you and your practice. So I appreciate the conversation. I’m grateful to be here.
So if you want to explore what this looks like for you, we encourage you to visit us at our website. And if you haven’t looked into our online learning platform, Grow, I invite you to look there too, so you can get some clarity of your vision and start putting into play the systems and skills that can help elevate your practice to make these decisions and fully support the practice of your dreams.
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Heaven forbid if the doctor was to pass away. Many are surprised to know that a lot of the leases are binding to the successors or heirs. So just like a will in an estate planning exercise, if they haven't put in the proper protections to cover themselves or their estates, what happens?