Episode #310: Why Strategic Growth is So Powerful?

  1. September 19, 2024
In this Episode, the hosts emphasize the importance of strategic growth for dental practices, especially those looking to reduce their reliance on PPO plans.
Like this podcast? Share this idea with your circle who you think might benefit from it.

In this episode of the Less Insurance Dependence Podcast, Gary Takacs and Naren Arulrajah emphasize the importance of strategic growth for dental practices, especially those looking to reduce their reliance on PPO plans. The hosts stress that strategic growth is vital for any dental practice, as staying stagnant is not an option due to inflation and rising costs. Intentional growth ensures that a practice’s income and value continue to rise over time.

The episode highlights several methods to achieve strategic growth. One primary strategy is resigning from PPO plans, which allows practices to retain 45-50% more of their fees, even if some patients are lost in the process. Another effective approach is adding high-value services such as implants, adult orthodontics, and cosmetic dentistry, which can significantly increase revenue.

5 Easy strategies for a better dental practice in 2024 beyond
Download the Free E-book Now!

Episode Timestamps

  • 01:09 – Announcement regarding RIDA Summit; RIDA Annual Summit
    Date – 11th of October 2024,12:00 Eastern time, 5 hours of CE,
    Sign up for RID Academy: www.rid.academy/summit/
  • 03:16 – Why is strategic growth so powerful?
  • 05:02 – Reduce your overhead and increase your income every year.
  • 06:24 – Resigning from PPO plans to get strategic growth in practice.
  • 07:22 – Adding high-value services to the practice.
  • 07:51 – Invitation for a Coaching Strategy Meeting.
  • 14:23 – Adding same-day dentistry
  • 15:14 – Invitation for Marketing Strategy Meeting.
  • 16:23 – The six steps to successfully resign from PPO plans.

Resources

Schedule a Free Marketing Strategy Meeting with Ekwa!

Schedule a Free Coaching Strategy Meeting with Gary Takacs!

Become a RIDA Member!

Register now

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/

Recent Episodes

Episode #318: How Inflation and a Weak Economy are Making Fee-For-Service an Appealing Option

Listen Now

Episode #317: Are There Potential New Patients Who Are Not Affected by A Soft Economy?

Listen Now

Episode #316: Is A Hybrid Practice the Right Model for You?

Listen Now