Episode #266: Successfully Reducing Your Insurance Dependence INCREASES the Value of Your Practice!

  1. November 16, 2023
In this episode, we dive into the world of dental practice profitability. Learn how reducing insurance dependence can elevate your practice's value and long-term success
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In this episode, Gary and Narin discuss the benefits of reducing insurance dependence in your dental practice to increase its value. They emphasize that a practice’s value is closely tied to its profitability and that reducing insurance dependence can significantly enhance that profitability. They also mention the option of selling your practice to a Dental Service Organization (DSO) as an alternative pathway. Focusing on attracting fee-for-service patients and dropping unnecessary PPO plans can boost your practice’s income and long-term value. Enhancing the value of your practice is a valuable long-term strategy to consider.

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Unlock the secrets to increasing your dental practice’s value! Download the ebook now to discover how reducing insurance dependence can elevate profitability and attract valuable fee-for-service patients.
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Episode Timestamps

  • 00:00:50 – Introduction to the episode
  • 00:01:32 – Quick announcement about the upcoming masterclass
  • 00:03:53 – Jumps into the topic
  • 00:04:42 – A value of a practice
  • 00:07:10 – How does reducing insurance dependence increase the value of a practice?
  • 00:08:50 – Fee for service
  • 00:12:20 – 2 pathways to sell your practice
  • 00:13:30 – DSOs
  • 00:16:40 – Strategies to increase patients in your practice 

Resources

Learn more about the Masterclass

Schedule a Free Marketing Strategy Meeting with Ekwa!

Schedule a Free Coaching Strategy Meeting with Gary Takacs!

Become a RIDA Member!

Calculate Your Practice Insurance Write-off!

Gary Takacs

Gary Takacs One of Gary's most significant achievements as a dental practice management coach is transforming his own practice, LifeSmiles, from one that was infected with PPO plans, no effective marketing strategy, and an overhead of 80% to a very successful dental practice that is currently one of the top-performing practices in the US.

With over 2,200 coaching clients, Gary has first-hand experience transforming insurance-dependent practices into thriving and profitable practices.

Through his Personalized Coaching Program, Gary shares access to the systems, strategies, processes, and experience gained over 41 years of coaching dentists and transforming over 2200 practices worldwide.

Learn More: www.thrivingdentist.com/coaching/
Connect with Gary Takacs on Linkedin

Naren Arulrajah

Naren ArulrajahAs CEO of Ekwa Marketing, Naren has over a decade of experience working with dental practices and helping them attract the ideal type of patients to their practices. It is his goal to help dentists do more of the type of dentistry they love with the help and support of effective digital marketing.

Ekwa’s "Done-For-You" Digital Marketing model blends fundamental persuasion principles with an all-in-one Digital Marketing solution to help your ideal patients find you and choose you for reasons other than being on their insurance plan.

If you’re interested in finding out if Ekwa is the right fit for you and your practice, book a Free Marketing Strategy Meeting with Ekwa’s Marketing Director, Lila Stone.

Book Free Marketing Strategy Meeting: www.lessinsurancedependence.com/marketing-strategy-meeting/

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