1 00:00:00,155 --> 00:00:02,135 - Hi everyone, this is Erica Spicer Mason 2 00:00:02,205 --> 00:00:04,215 with the Becker's Healthcare Podcast series. 3 00:00:04,465 --> 00:00:07,295 Thank you so much for tuning in Today we're joined 4 00:00:07,315 --> 00:00:08,815 by two guests who will talk 5 00:00:08,815 --> 00:00:11,975 to us about resource consolidation, dentist satisfaction, 6 00:00:12,035 --> 00:00:14,015 and DSO growth in 2024. 7 00:00:14,715 --> 00:00:17,175 I'm delighted to be joined by Dan Crawford, the manager 8 00:00:17,175 --> 00:00:18,815 of Enterprise Market at Clear, 9 00:00:19,195 --> 00:00:21,095 and Greg Mahoney, the Senior Manager 10 00:00:21,115 --> 00:00:22,815 of Consulting for Sky Tale Group. 11 00:00:23,445 --> 00:00:25,815 Welcome, Dan and Greg, thank you so much for joining us. 12 00:00:26,635 --> 00:00:29,615 - Thanks for having us. - Thrilled to have you on. 13 00:00:29,835 --> 00:00:31,935 And before we dig into our discussion, 14 00:00:32,175 --> 00:00:34,095 I was hoping you could both just take a moment 15 00:00:34,235 --> 00:00:36,095 to share a little bit more about yourselves, 16 00:00:36,095 --> 00:00:37,455 your background, your role, 17 00:00:38,175 --> 00:00:40,135 whatever you'd like our audience to know about. 18 00:00:40,635 --> 00:00:42,255 Um, Dan, maybe we can start with you. 19 00:00:43,785 --> 00:00:46,315 - Sure. Um, so thanks for having me. 20 00:00:46,635 --> 00:00:47,795 Thrilled to be here as well. Always great 21 00:00:47,795 --> 00:00:48,875 to collaborate with Becker's. 22 00:00:49,055 --> 00:00:51,715 Um, but um, as Erica mentioned, my name is Dan Crawford. 23 00:00:51,915 --> 00:00:55,715 I manage our enterprise market here at Clear, so all 24 00:00:55,715 --> 00:01:00,275 of our groups and DSOs from, uh, uh, from sales 25 00:01:00,455 --> 00:01:02,395 to account management and customer success. 26 00:01:02,745 --> 00:01:03,995 That falls under my team. 27 00:01:04,175 --> 00:01:06,995 Um, I've been with Clear for, gosh, 28 00:01:06,995 --> 00:01:10,075 coming up on five years now, feels like a lot longer, 29 00:01:10,415 --> 00:01:12,275 but, um, really excited to be here today. 30 00:01:12,275 --> 00:01:13,675 Really excited to share some insights 31 00:01:13,815 --> 00:01:15,195 and, uh, we've done a lot of great work 32 00:01:15,195 --> 00:01:17,315 and learned quite a bit from our group 33 00:01:17,315 --> 00:01:18,475 partners over the last few years. 34 00:01:18,615 --> 00:01:20,035 So looking forward to the discussion. 35 00:01:22,985 --> 00:01:23,995 - Fantastic, thanks. 36 00:01:24,095 --> 00:01:26,315 Dan and Greg, tell us a little bit more about yourself. 37 00:01:27,375 --> 00:01:30,695 - I, I've, I've, uh, been a consultant at Sky Tail 38 00:01:30,955 --> 00:01:34,815 for two years and have worked in, uh, 39 00:01:34,925 --> 00:01:36,815 smaller emerging DSOs 40 00:01:36,915 --> 00:01:41,455 and larger DSOs in building their strategic operations 41 00:01:42,195 --> 00:01:46,295 and their infrastructure in order to scale and grow. 42 00:01:46,955 --> 00:01:50,055 And so now I get to do the, that with a portfolio 43 00:01:50,235 --> 00:01:51,695 of clients across the country. 44 00:01:52,715 --> 00:01:57,015 And Sky Tail, uh, not only is a full service, strategic 45 00:01:57,235 --> 00:01:59,055 and financial firm 46 00:01:59,355 --> 00:02:03,855 to pres present those consulting services, but also an m 47 00:02:03,855 --> 00:02:07,495 and a advisory firm to help emerging practices 48 00:02:07,495 --> 00:02:10,655 and large scale practices go to market and help sell. 49 00:02:12,875 --> 00:02:15,485 - Wonderful, thank you so much Greg and Dan. 50 00:02:15,545 --> 00:02:18,405 Sounds like we have a lot of great expertise, uh, 51 00:02:18,465 --> 00:02:19,485 for our session today. 52 00:02:20,105 --> 00:02:22,605 And Greg, I think just based on, you know, 53 00:02:22,605 --> 00:02:25,085 what you were describing with your experience at Sky Tail 54 00:02:25,385 --> 00:02:29,045 and in the DSO space, I did wanna kick off our conversation 55 00:02:29,045 --> 00:02:32,045 with talking a little bit about resource consolidation 56 00:02:32,265 --> 00:02:35,925 as we are seeing this trend toward consolidation in the 57 00:02:35,925 --> 00:02:36,965 dental industry. 58 00:02:37,825 --> 00:02:40,165 So in your view, what are the top challenges 59 00:02:40,165 --> 00:02:43,725 that DSOs face when undergoing resource consolidation? 60 00:02:45,075 --> 00:02:49,475 - I think this really becomes a strategy of looking inward 61 00:02:50,015 --> 00:02:53,955 and performing your own resource base analysis. 62 00:02:54,625 --> 00:02:58,155 What do you have at your disposal to create positive change 63 00:02:58,455 --> 00:02:59,725 and strategic growth? 64 00:03:00,305 --> 00:03:02,925 And that can be difficult for organizations. 65 00:03:03,075 --> 00:03:06,285 They're looking at, well, we don't have as much money 66 00:03:06,425 --> 00:03:07,525 to spend right now, 67 00:03:07,745 --> 00:03:10,245 or the budgets are tighter, so 68 00:03:10,385 --> 00:03:12,925 how do we grow our organization? 69 00:03:13,345 --> 00:03:16,125 The first area they'll look at is service line expansion. 70 00:03:16,505 --> 00:03:19,805 If you've been kind of bread and butter practice 71 00:03:19,945 --> 00:03:23,285 or group, how can you expand services? 72 00:03:23,825 --> 00:03:26,685 So where dentists consider additional CE 73 00:03:27,065 --> 00:03:30,645 or build out a practice within a practice then 74 00:03:30,745 --> 00:03:33,405 and the associated marketing plans that go along 75 00:03:33,405 --> 00:03:37,325 with building that new business, living inside the current, 76 00:03:37,625 --> 00:03:41,805 for instance, uh, building out a an orthodontic section 77 00:03:41,825 --> 00:03:44,885 inside your practice may maybe with clear aligners 78 00:03:44,985 --> 00:03:48,685 of some sort, or maybe it's dental implants and dentures 79 00:03:48,785 --> 00:03:52,045 or sleep apnea and TMJ services, uh, 80 00:03:52,045 --> 00:03:55,805 or expanding in pushing into endodonic 81 00:03:56,025 --> 00:03:57,085 or oral surgery 82 00:03:57,545 --> 00:04:01,085 and building that up as having its own reputation 83 00:04:01,465 --> 00:04:04,845 inside your practice that people are coming forth, uh, 84 00:04:04,845 --> 00:04:07,045 to help, to help grow the other areas. 85 00:04:07,095 --> 00:04:10,925 Where I find DSOs are facing challenges 86 00:04:11,625 --> 00:04:13,485 is then leveraging systems 87 00:04:14,465 --> 00:04:16,925 and employee employee efficiencies together. 88 00:04:17,715 --> 00:04:20,765 When when we start thinking about how in the very beginning 89 00:04:20,785 --> 00:04:23,445 of any business it's trying to bootstrap itself, 90 00:04:23,585 --> 00:04:24,845 it takes a lot of sweat. 91 00:04:25,345 --> 00:04:27,605 And so here we're going back to those roots 92 00:04:27,905 --> 00:04:29,165 and we're building systems 93 00:04:29,345 --> 00:04:32,245 and we're refining protocols to let people 94 00:04:32,815 --> 00:04:37,485 solve human problems and let the systems and SOPs 95 00:04:37,785 --> 00:04:40,165 and policies take care of everything else. 96 00:04:40,905 --> 00:04:43,165 So practically this kind of looks like 97 00:04:43,805 --> 00:04:45,965 assuring job descriptions are accurate 98 00:04:46,025 --> 00:04:49,085 and describe the duties and expectations of employees. 99 00:04:49,275 --> 00:04:51,325 It's probably been a long time since some 100 00:04:51,325 --> 00:04:52,605 of those have been overhauled 101 00:04:52,865 --> 00:04:57,285 and it's not just to have correct documentation there, 102 00:04:57,945 --> 00:05:00,045 but now you can take those that match 103 00:05:00,435 --> 00:05:02,045 what actually people are doing 104 00:05:02,465 --> 00:05:05,525 and then check to be sure that you have SOPs 105 00:05:05,715 --> 00:05:07,645 that follow every one 106 00:05:07,645 --> 00:05:10,005 of those items in the job descriptions. 107 00:05:10,345 --> 00:05:11,485 If you're hiring people 108 00:05:12,185 --> 00:05:14,765 and you need to have them do something, you need 109 00:05:14,765 --> 00:05:16,645 to have those SOPs that support all 110 00:05:16,645 --> 00:05:18,125 of those things you're asking them to do. 111 00:05:18,835 --> 00:05:20,445 That helps set expectations 112 00:05:21,065 --> 00:05:22,605 and then how they're going to do it 113 00:05:22,625 --> 00:05:24,365 and how success will be measured. 114 00:05:25,155 --> 00:05:28,535 And this helps to create, you know, 115 00:05:28,615 --> 00:05:30,095 expectations in the business, 116 00:05:30,315 --> 00:05:32,415 but it also helps keep employees 117 00:05:32,475 --> 00:05:35,095 and team members accountable for what they're expected on. 118 00:05:35,635 --> 00:05:37,935 It provides them tools to achieve success 119 00:05:37,935 --> 00:05:39,415 and feel supported in their work. 120 00:05:40,345 --> 00:05:42,445 And it allows them to fully engage. 121 00:05:42,715 --> 00:05:46,245 When employees come to work with you 122 00:05:47,025 --> 00:05:50,565 now they're saying, well, how do I be successful? 123 00:05:50,745 --> 00:05:53,325 And those that don't know how to be successful, 124 00:05:53,355 --> 00:05:56,765 they disengage and now you have a lot of that 125 00:05:57,335 --> 00:05:58,805 quiet quitting that happens. 126 00:05:58,945 --> 00:06:02,405 That's been such a buzzword around the world recently. 127 00:06:03,265 --> 00:06:06,245 And we want our employees to be engaged, so we need 128 00:06:06,245 --> 00:06:07,845 to provide them all of these tools. 129 00:06:08,105 --> 00:06:10,725 And then lastly, building the SOPs 130 00:06:10,725 --> 00:06:13,525 after we use those to build training materials. 131 00:06:14,385 --> 00:06:16,245 You don't want an employee to start 132 00:06:16,705 --> 00:06:18,285 and then they quit by lunch 133 00:06:18,355 --> 00:06:20,285 because they're like, this is a mess. 134 00:06:20,765 --> 00:06:22,445 I don't know how to be helpful here. 135 00:06:22,525 --> 00:06:23,885 I don't know how to be successful 136 00:06:24,085 --> 00:06:25,325 'cause there's nothing here to train. 137 00:06:26,025 --> 00:06:28,925 And so set a real good first impression 138 00:06:29,035 --> 00:06:31,885 with those new employees using all of those tools there 139 00:06:32,385 --> 00:06:36,005 and now you have a predictable system for bringing people in 140 00:06:36,185 --> 00:06:38,325 and showing them how to be happy 141 00:06:38,465 --> 00:06:39,925 and successful in your practice. 142 00:06:41,355 --> 00:06:42,715 - Hmm, thanks so much Greg. 143 00:06:42,775 --> 00:06:46,155 Really appreciate the insights that you've shared across 144 00:06:46,795 --> 00:06:47,875 a variety of challenges. 145 00:06:47,895 --> 00:06:50,075 You know, we've talked about the workforce, um, 146 00:06:50,625 --> 00:06:55,195 expansion opportunities, SOPs, I know there's a lot to cover 147 00:06:55,375 --> 00:06:56,395 and so I'm thinking 148 00:06:56,395 --> 00:06:57,755 for our listeners it would be really helpful 149 00:06:58,295 --> 00:07:01,675 if you could share any examples maybe of specific obstacles 150 00:07:01,675 --> 00:07:05,035 or wins that you've seen, um, you know, 151 00:07:05,035 --> 00:07:08,115 with partner organizations that your team has kind of helped 152 00:07:08,135 --> 00:07:09,635 to lead through these challenges. 153 00:07:09,895 --> 00:07:10,995 Any examples come to mind? 154 00:07:12,235 --> 00:07:16,275 - Uh, sure. So more recently we've helped here at SkyTel, 155 00:07:16,435 --> 00:07:19,675 a a number of, of clients build out 156 00:07:20,555 --> 00:07:23,875 specialty niches inside their existing businesses. 157 00:07:24,335 --> 00:07:27,595 So in some cases this meant building out A TMJ 158 00:07:27,775 --> 00:07:30,835 and sleep breathing disorder practice, 159 00:07:31,295 --> 00:07:34,875 or this meant adding in dentures and implants 160 00:07:35,015 --> 00:07:39,355 and the creation of the marketing plans and the budgets 161 00:07:39,535 --> 00:07:41,115 and everything else that went around that 162 00:07:41,925 --> 00:07:44,705 the results then turned into where like, 163 00:07:44,815 --> 00:07:45,945 this really matters. 164 00:07:46,685 --> 00:07:49,065 And you know, in a matter of just two 165 00:07:49,065 --> 00:07:52,745 and a half years, creating a niche practice 166 00:07:52,925 --> 00:07:56,345 inside a general practice that on its own does two 167 00:07:56,345 --> 00:08:00,025 and a half million dollars in revenue is fantastic growth. 168 00:08:00,675 --> 00:08:02,415 Uh, or another practice 169 00:08:02,415 --> 00:08:05,695 that was looking at growing their Invisalign business 170 00:08:06,595 --> 00:08:09,575 and seeing that, you know, how do we achieve this? 171 00:08:09,635 --> 00:08:12,055 How do we build this inside our practice? 172 00:08:12,315 --> 00:08:14,935 And, you know, they would do a few cases a month, 173 00:08:15,395 --> 00:08:19,175 but then by looking at how they were identifying candidates 174 00:08:19,235 --> 00:08:20,935 and how they spoke to candidates 175 00:08:21,195 --> 00:08:22,895 and how they followed up on cases 176 00:08:23,355 --> 00:08:26,375 and that that treatment, that case acceptance and 177 00:08:26,395 --> 00:08:28,655 and treatment planning piece, able 178 00:08:28,655 --> 00:08:32,895 to grow from about $12,000 a month to $65,000 a month. 179 00:08:33,845 --> 00:08:35,785 Uh, similarly we've helped 180 00:08:36,045 --> 00:08:39,345 or advised others on, hey, how do I, 181 00:08:40,065 --> 00:08:43,525 how do I create something else for my patients 182 00:08:44,185 --> 00:08:45,925 who are saying like, Hey, 183 00:08:46,125 --> 00:08:48,165 I lost my dental insurance or something like that. 184 00:08:48,225 --> 00:08:50,965 And so then we're, we're recommending them 185 00:08:51,065 --> 00:08:52,845 to employ a membership plan. 186 00:08:53,345 --> 00:08:55,405 And so here to be able to see somebody 187 00:08:55,425 --> 00:08:59,285 and talk through that process with them to grow that to 188 00:08:59,285 --> 00:09:04,265 where they're collecting $25,000 a month in, uh, 189 00:09:04,275 --> 00:09:07,265 membership dues is a fantastic piece. 190 00:09:07,445 --> 00:09:10,385 But I think the real piece where I was talking earlier on 191 00:09:11,145 --> 00:09:14,505 building out SOPs and job descriptions 192 00:09:14,645 --> 00:09:17,425 and how that can affect a practice when working 193 00:09:17,425 --> 00:09:21,945 with a multi-location client where they were thinking, well, 194 00:09:22,005 --> 00:09:23,665 do we add more people here? 195 00:09:24,125 --> 00:09:26,545 And my recommendation was, let's retool 196 00:09:26,565 --> 00:09:30,065 and reequip the people that we have with the tools 197 00:09:30,065 --> 00:09:32,945 that they need to be successful and, and reset. 198 00:09:33,225 --> 00:09:36,345 I think we have all of the people we need right now, 199 00:09:36,885 --> 00:09:39,505 but let's reorganize them in a different way. 200 00:09:40,335 --> 00:09:41,505 This investment led 201 00:09:41,505 --> 00:09:45,505 to a significant expansion in production efficiency and 202 00:09:45,655 --> 00:09:49,145 therefore led to a much higher, uh, level of profitability. 203 00:09:49,885 --> 00:09:53,305 We were able to support patient interactions 204 00:09:53,485 --> 00:09:56,785 and make sure that we created the best experience. 205 00:09:57,165 --> 00:09:59,865 So this wasn't about making patients a number, 206 00:10:00,605 --> 00:10:02,945 but we were there to support 207 00:10:03,125 --> 00:10:04,985 and nurture that patient experience 208 00:10:05,005 --> 00:10:08,705 and provide relationships, uh, with those patients 209 00:10:08,725 --> 00:10:10,105 and with their providers. 210 00:10:10,565 --> 00:10:12,545 But through the building of the systems 211 00:10:13,125 --> 00:10:15,225 and engaging all of those employees 212 00:10:15,285 --> 00:10:17,985 and making them more efficient, we were able 213 00:10:17,985 --> 00:10:22,585 to add over the course of 2023 $800,000 of revenue 214 00:10:23,125 --> 00:10:27,145 really, which meant EBITDA increased from 17% 215 00:10:27,485 --> 00:10:30,865 to 24% and that's a massive change. 216 00:10:31,205 --> 00:10:33,145 And at the scale of this business, 217 00:10:33,335 --> 00:10:35,225 that was fantastic growth. 218 00:10:35,725 --> 00:10:37,945 And I think that's just one example of 219 00:10:37,945 --> 00:10:40,945 what can be achieved when you look inward into your business 220 00:10:40,945 --> 00:10:44,065 and say, alright, let's, let's invest in the people 221 00:10:44,205 --> 00:10:45,305 and the systems we have 222 00:10:45,765 --> 00:10:49,585 and you can truly ring out a lot more 223 00:10:49,585 --> 00:10:51,305 profitability through that process. 224 00:10:52,875 --> 00:10:55,775 - Thanks so much, Greg. What a fantastic example. 225 00:10:56,395 --> 00:10:58,015 And one that leads to increased 226 00:10:58,015 --> 00:10:59,295 efficiency and profitability. 227 00:10:59,535 --> 00:11:01,135 I know that's something that will, um, 228 00:11:01,135 --> 00:11:02,655 certainly interest a lot of our readers, 229 00:11:02,715 --> 00:11:04,215 so thanks again for sharing that. 230 00:11:05,235 --> 00:11:08,935 And I know a big component of growth is of course, 231 00:11:09,525 --> 00:11:11,535 measurement and for more 232 00:11:11,535 --> 00:11:13,695 and more practices nowadays, technology as well. 233 00:11:13,795 --> 00:11:17,455 So I kind of wanted to shift into that territory a bit. 234 00:11:17,995 --> 00:11:19,535 Um, and Dan, I, I know 235 00:11:19,535 --> 00:11:21,815 with your work at Clear you can probably speak pretty well 236 00:11:21,815 --> 00:11:23,655 to this to, um, 237 00:11:23,675 --> 00:11:27,015 and I I wanted to speak specifically to same store sales. 238 00:11:27,455 --> 00:11:30,015 I know this is a really key measure as 239 00:11:30,575 --> 00:11:33,415 practices are growing, so what essential resources 240 00:11:33,415 --> 00:11:36,335 or technology have proven crucial for DSOs 241 00:11:36,435 --> 00:11:38,935 as they reach their same store sales goals? 242 00:11:40,615 --> 00:11:43,985 - Yeah, for sure. And um, Greg, I love, you know, kind 243 00:11:43,985 --> 00:11:46,745 of your anchoring your initial insights there about resource 244 00:11:47,025 --> 00:11:48,865 consolidation to that, you know, the journey 245 00:11:48,865 --> 00:11:50,985 of looking inward and reflecting, right? 246 00:11:50,985 --> 00:11:53,765 Because that, that activity goes hand in hand with looking 247 00:11:53,765 --> 00:11:55,405 to increase your same store sales 248 00:11:55,465 --> 00:11:56,565 and your same store growth. 249 00:11:56,745 --> 00:11:59,605 So just, you know, in terms of defining that, 250 00:11:59,715 --> 00:12:01,485 what exactly are we looking to achieve 251 00:12:01,595 --> 00:12:02,605 with same store sales? 252 00:12:02,625 --> 00:12:05,165 Of course that's in a word expanding off 253 00:12:05,165 --> 00:12:06,245 of what you already have. 254 00:12:06,335 --> 00:12:08,405 We're getting more out of what's already, you know, 255 00:12:08,925 --> 00:12:10,285 existing, that's not the technical term, 256 00:12:10,425 --> 00:12:13,765 but, um, when it comes to dental practices and groups 257 00:12:13,765 --> 00:12:16,245 and DSOs that, you know, we work with a clear, 258 00:12:17,265 --> 00:12:18,445 having the opportunity 259 00:12:18,505 --> 00:12:21,765 or taking the opportunity to look inward at, you know, 260 00:12:22,315 --> 00:12:24,805 what sorts of patients do you have coming into your doors, 261 00:12:25,385 --> 00:12:26,405 how are they behaving 262 00:12:26,865 --> 00:12:29,085 and what's the net benefit for us 263 00:12:29,305 --> 00:12:31,125 as a business at the end of the day, right? 264 00:12:31,665 --> 00:12:32,765 So obviously last year 265 00:12:32,865 --> 00:12:35,125 or you know, last year being 22, it's already, 266 00:12:35,185 --> 00:12:37,405 or 23, excuse me, it's already 24. 267 00:12:38,025 --> 00:12:40,125 Um, certainly challenging, uh, 268 00:12:40,485 --> 00:12:41,725 economically in many respects. 269 00:12:41,945 --> 00:12:44,805 And you know, we had a lot, heard a lot of feedback in 270 00:12:44,805 --> 00:12:48,045 that regard from a lot of our current DSO and DPO customers. 271 00:12:48,145 --> 00:12:51,445 But you know, if you think about same store sales, what kind 272 00:12:51,445 --> 00:12:54,325 of investments are you making to again, elevate 273 00:12:54,355 --> 00:12:55,925 what you're currently doing? 274 00:12:55,925 --> 00:12:59,405 Whether that's process people From our perspective, 275 00:12:59,565 --> 00:13:03,125 a big thing is visibility into that number one asset, 276 00:13:03,135 --> 00:13:05,485 which is of course your patients coming in the door. 277 00:13:06,305 --> 00:13:08,925 So when you think about tech 278 00:13:09,105 --> 00:13:12,165 and you know, what sorts of things do you want to invest in, 279 00:13:12,585 --> 00:13:15,205 you wanna look towards things that are not only going to 280 00:13:15,925 --> 00:13:17,765 increase patients' visiting, right? 281 00:13:17,835 --> 00:13:20,045 It's, it's certainly volume is an important component, 282 00:13:20,425 --> 00:13:21,885 but when we think about the same store sales, 283 00:13:22,075 --> 00:13:25,765 it's also very much about retention, return, visitation, 284 00:13:25,835 --> 00:13:27,565 loyalty, things of that nature. 285 00:13:27,785 --> 00:13:29,445 So what sorts of resources 286 00:13:29,445 --> 00:13:30,805 and technology do you have 287 00:13:30,805 --> 00:13:34,325 that can give you visibility into those insights, not just, 288 00:13:34,345 --> 00:13:37,325 you know, net patient visits, but also obviously the recall 289 00:13:37,325 --> 00:13:38,445 and then what are they accepting 290 00:13:38,445 --> 00:13:40,445 and then how many of them are coming back year, 291 00:13:40,445 --> 00:13:41,485 over year, over year? 292 00:13:42,385 --> 00:13:44,205 So that's of course something you should be 293 00:13:44,205 --> 00:13:45,245 looking at no matter what. 294 00:13:45,425 --> 00:13:48,525 But I think a lot of times groups are now looking 295 00:13:48,525 --> 00:13:49,885 to invest in more technology 296 00:13:50,105 --> 00:13:52,925 to look at perhaps different patient cohorts 297 00:13:53,185 --> 00:13:56,005 inside the practice itself to then try 298 00:13:56,005 --> 00:13:57,285 and capitalize on those metrics. 299 00:13:57,585 --> 00:14:00,645 So for example, what sorts of, you know, 300 00:14:00,645 --> 00:14:02,845 what's the percentage of inactive patients 301 00:14:02,845 --> 00:14:04,605 that you have in your system? 302 00:14:04,745 --> 00:14:07,805 How many patients have come in for a visit in the last year 303 00:14:07,805 --> 00:14:11,245 or two that did not return for that second visit, right? 304 00:14:11,265 --> 00:14:14,245 Is there an opportunity there, you know, is there some sort 305 00:14:14,345 --> 00:14:16,405 of discrepancy in terms of, 306 00:14:16,405 --> 00:14:19,365 or some sort of disproportionate amount of insurance 307 00:14:19,365 --> 00:14:21,925 that's kinda kind of being accepted in the practice? 308 00:14:22,025 --> 00:14:24,245 Is that, you know, contributing to a lot of your revenue 309 00:14:24,385 --> 00:14:26,125 and perhaps there's opportunities for you 310 00:14:26,125 --> 00:14:28,005 to make some changes or some adjustments there. 311 00:14:28,465 --> 00:14:29,485 And then of course, you know, 312 00:14:29,485 --> 00:14:32,085 what about the uninsured patients, right? 313 00:14:32,225 --> 00:14:36,365 So typically we see anywhere from 10 to 30% of patients 314 00:14:36,365 --> 00:14:39,485 that are seeing each year in a practice are without 315 00:14:39,805 --> 00:14:43,125 coverage, many of whom do not return after that initial 316 00:14:43,225 --> 00:14:45,845 or emergency visit, given the fact 317 00:14:45,845 --> 00:14:47,125 that they don't have a dental plan. 318 00:14:47,585 --> 00:14:48,725 So is your group 319 00:14:48,785 --> 00:14:50,885 or your practice prioritizing that patient 320 00:14:51,265 --> 00:14:54,125 as a growth opportunity given that you know, 321 00:14:54,125 --> 00:14:55,205 they're not affiliated 322 00:14:55,205 --> 00:14:57,405 with a potentially low paying insurance? 323 00:14:57,585 --> 00:14:59,285 Or is it something that you're just hoping 324 00:14:59,285 --> 00:15:00,645 that you can get the most from that patient 325 00:15:00,705 --> 00:15:02,365 and then hope that they come back? 326 00:15:02,945 --> 00:15:04,965 So I think the key here, when you think about, you know, 327 00:15:05,035 --> 00:15:07,645 what resources or tech have really proven crucial 328 00:15:07,645 --> 00:15:11,085 to DSOs at this point, it's what's enabling you 329 00:15:11,085 --> 00:15:12,165 to look inward, right? 330 00:15:12,165 --> 00:15:13,885 Kind of, again, going back to Greg's point, 331 00:15:14,025 --> 00:15:15,725 but when you are looking inward, 332 00:15:15,865 --> 00:15:17,445 are you looking at the right things 333 00:15:17,825 --> 00:15:19,245 and finding the right opportunities 334 00:15:19,245 --> 00:15:20,925 that you can then invest into further. 335 00:15:23,845 --> 00:15:25,265 - Thanks Dan, that's really helpful. 336 00:15:25,965 --> 00:15:29,025 And as you were talking about this kind of technology 337 00:15:29,085 --> 00:15:32,185 and these key characteristics, it made me think of some 338 00:15:32,715 --> 00:15:33,825 goals that I think a lot 339 00:15:33,825 --> 00:15:36,425 of healthcare practices have today in regards to technology, 340 00:15:36,515 --> 00:15:39,745 which is ensuring that the tech is interoperable 341 00:15:39,845 --> 00:15:42,265 or it's easily integrated into current systems. 342 00:15:43,005 --> 00:15:44,225 So for DSOs 343 00:15:44,225 --> 00:15:47,625 and dental practices, just digging a little further here, 344 00:15:47,735 --> 00:15:50,145 what do you really recommend that they prioritize? 345 00:15:50,405 --> 00:15:52,585 Um, what are the benefits that they should look for, 346 00:15:52,805 --> 00:15:53,945 you know, either operationally 347 00:15:54,125 --> 00:15:58,065 or even as it re relates to kind of the mental 348 00:15:58,125 --> 00:16:00,105 or cognitive load of dentists as well? 349 00:16:00,865 --> 00:16:02,765 - Mm-Hmm, . Yeah, for sure. 350 00:16:02,965 --> 00:16:07,685 I mean, you know, obviously if we can increase efficiencies, 351 00:16:07,745 --> 00:16:10,685 if we can, you know, uh, lessen the amount 352 00:16:10,685 --> 00:16:12,805 of different systems that are in place 353 00:16:12,805 --> 00:16:14,405 that the front desk teams have to try 354 00:16:14,405 --> 00:16:16,085 and manage just to take care of one task, 355 00:16:16,085 --> 00:16:18,085 that's gonna be good things for everybody, right? 356 00:16:18,185 --> 00:16:21,085 So, um, if one of the primary initiatives that we're looking 357 00:16:21,085 --> 00:16:24,085 to really try and capitalize on this year 358 00:16:24,145 --> 00:16:26,605 and obviously on the go forward is growth, 359 00:16:26,665 --> 00:16:30,045 but really same store sales growth efficiency is really, 360 00:16:30,045 --> 00:16:31,925 of course, really gonna be the name of the game. 361 00:16:32,385 --> 00:16:34,805 So you really wanna look for tech partners 362 00:16:34,835 --> 00:16:37,165 that can integrate either with one another 363 00:16:37,305 --> 00:16:40,125 or obviously of course with your practice management system 364 00:16:40,305 --> 00:16:43,005 to really be that should really unique key focus area. 365 00:16:43,705 --> 00:16:46,845 And then again, of course on top of that, once you take 366 00:16:46,845 --> 00:16:49,645 that step, right, okay, maybe I can integrate with the PMS 367 00:16:49,665 --> 00:16:51,965 or you know, I can integrate with another tech partner, 368 00:16:52,225 --> 00:16:54,005 but what are you looking for? 369 00:16:54,225 --> 00:16:57,245 And then what sorts of processes do you have in place 370 00:16:57,245 --> 00:16:58,965 to take action on 371 00:16:58,965 --> 00:17:01,685 that data once you have identified it, right? 372 00:17:01,945 --> 00:17:05,445 So, you know, if the information that you need 373 00:17:05,585 --> 00:17:06,725 to be a more lean 374 00:17:06,945 --> 00:17:10,525 and effective operation is easily accessible to your teams. 375 00:17:11,355 --> 00:17:13,845 Then going back again to what Greg said, 376 00:17:13,845 --> 00:17:16,205 you can let you know people solve the people problems 377 00:17:16,225 --> 00:17:18,245 and the systems can solve the system problems, right? 378 00:17:18,245 --> 00:17:21,245 Your teams can really just focus on the patients 379 00:17:21,405 --> 00:17:22,845 and cultivating those relationships 380 00:17:22,945 --> 00:17:26,925 and really maintaining that loyalty while you've got systems 381 00:17:26,925 --> 00:17:29,445 underneath that are working in collaboration 382 00:17:29,445 --> 00:17:32,805 with one another, providing easy access to different pieces 383 00:17:32,825 --> 00:17:35,765 of information that again, can be actionable as far 384 00:17:35,765 --> 00:17:38,005 as growth and strategic initiatives. 385 00:17:38,665 --> 00:17:40,005 All those things are critical. 386 00:17:40,585 --> 00:17:43,725 So just for some context on our side, one of the things 387 00:17:43,725 --> 00:17:45,205 that we really try and stress, 388 00:17:45,225 --> 00:17:46,765 or we're starting to stress rather with a lot 389 00:17:46,765 --> 00:17:49,725 of our partners is, you know, when you're looking internal 390 00:17:49,865 --> 00:17:53,085 or you're looking at your systems, you know, what sorts 391 00:17:53,085 --> 00:17:57,325 of areas can you pay more attention to right now 392 00:17:57,325 --> 00:17:59,165 that perhaps you do have a different technology 393 00:17:59,165 --> 00:18:00,845 that can give you different bits of information? 394 00:18:01,435 --> 00:18:03,725 What sort of visibility do you really think you want 395 00:18:03,825 --> 00:18:05,005 in order to be successful? 396 00:18:05,545 --> 00:18:07,485 Is it, you know, how much does one 397 00:18:07,485 --> 00:18:09,245 insurance reimburse you more than another? 398 00:18:09,355 --> 00:18:11,245 What exactly does that mean for your profitability? 399 00:18:11,665 --> 00:18:14,725 Is your uninsured patient base providing an opportunity 400 00:18:14,725 --> 00:18:17,205 that you're really not able to capitalize on 401 00:18:17,205 --> 00:18:19,885 because you don't have the right systems or processes 402 00:18:19,945 --> 00:18:23,285 or really strategic, uh, insight in place to go after it? 403 00:18:23,735 --> 00:18:25,485 These are all kinds of questions that you want 404 00:18:25,685 --> 00:18:26,765 to continually ask yourself. 405 00:18:26,825 --> 00:18:28,885 And when you think about investing in technology 406 00:18:29,665 --> 00:18:30,965 to solve them 407 00:18:31,145 --> 00:18:33,925 or address them, you really wanna make sure that there is 408 00:18:33,925 --> 00:18:37,205 that integration between as many components as possible 409 00:18:37,505 --> 00:18:38,525 so that it is seamless. 410 00:18:39,145 --> 00:18:42,365 And that event kind of gets, uh, segues into how is that 411 00:18:42,385 --> 00:18:45,085 of course gonna obviously mitigate the, 412 00:18:45,305 --> 00:18:47,325 the mental strain for the dentist. 413 00:18:48,355 --> 00:18:50,285 It's very much kind of the same thing, right? 414 00:18:50,425 --> 00:18:52,125 If I as a dental business owner 415 00:18:52,265 --> 00:18:56,205 or if a DSO executive can trust in the fact that my systems 416 00:18:56,415 --> 00:18:58,805 underneath my operational personnel are operating 417 00:18:58,805 --> 00:19:01,605 as they should and giving our teams the visibility 418 00:19:01,605 --> 00:19:03,205 that they need and the right data 419 00:19:03,425 --> 00:19:05,805 and that we have a good plan on top to go ahead 420 00:19:05,805 --> 00:19:07,485 and, you know, take action on it, 421 00:19:08,355 --> 00:19:10,245 then I can sleep soundly at night, right? 422 00:19:10,305 --> 00:19:11,485 And I can focus on other things 423 00:19:11,505 --> 00:19:13,525 and really make sure that I have my foot on the gas 424 00:19:13,545 --> 00:19:16,445 for growth rather than trying to plug holes, 425 00:19:16,545 --> 00:19:17,845 put out fires, things of that nature. 426 00:19:19,805 --> 00:19:20,855 - Yeah, absolutely. 427 00:19:21,675 --> 00:19:25,015 Thanks Dan and Greg, I just wanted to check in with you too. 428 00:19:25,075 --> 00:19:27,855 Is there anything that you'd add to what Dan has shared? 429 00:19:28,525 --> 00:19:31,615 - Yeah, I really, I really like Dan's approach here of, 430 00:19:31,955 --> 00:19:35,135 you know, what is going to help, uh, help that, 431 00:19:35,205 --> 00:19:37,215 that owning doctor sleep at night. 432 00:19:37,755 --> 00:19:39,815 And you want to know that your teams 433 00:19:40,525 --> 00:19:43,455 have all the information available to them that they need, 434 00:19:43,795 --> 00:19:46,855 but at the same time, you need to make sure that they have 435 00:19:47,575 --> 00:19:51,335 a narrow enough priority list that they can achieve 436 00:19:51,965 --> 00:19:53,255 what they need to achieve. 437 00:19:53,255 --> 00:19:55,455 Because there are lots of platforms out there 438 00:19:55,725 --> 00:19:57,815 that can provide dashboards, right? 439 00:19:58,395 --> 00:20:01,575 But, and there's every single metric that you 440 00:20:01,595 --> 00:20:03,815 and KPI that you could ever imagine. 441 00:20:04,655 --> 00:20:08,595 And so it's important to cut through the noise 442 00:20:09,295 --> 00:20:12,715 and focus on your business's priorities 443 00:20:12,935 --> 00:20:15,155 and the metrics that correspond with that. 444 00:20:15,495 --> 00:20:18,795 And then tying a specific metric 445 00:20:19,175 --> 00:20:21,995 to each individual in the business 446 00:20:22,495 --> 00:20:24,675 and making sure that it's connected with 447 00:20:24,675 --> 00:20:25,795 what they do every day. 448 00:20:26,655 --> 00:20:28,995 For instance, you, you have somebody 449 00:20:29,015 --> 00:20:33,075 who is making phone calls on for recall, for instance, 450 00:20:33,075 --> 00:20:34,755 there's emails and there's text messages 451 00:20:34,755 --> 00:20:35,915 and things like that that go out, 452 00:20:36,015 --> 00:20:38,395 but there's still people that need phone calls. 453 00:20:38,895 --> 00:20:41,315 But if you have somebody doing that measure, 454 00:20:41,735 --> 00:20:43,955 how many phone calls should they be making each day? 455 00:20:44,225 --> 00:20:45,835 When should those be completed? 456 00:20:45,975 --> 00:20:49,265 And all of these metrics kind of line up so 457 00:20:49,265 --> 00:20:53,625 that you have the ability to tie actions 458 00:20:53,885 --> 00:20:57,065 to metrics and help push things forward 459 00:20:57,805 --> 00:21:01,585 as in the end, we need to know how to manage those behaviors 460 00:21:01,695 --> 00:21:05,345 because the scoreboard, the metrics that are up there, 461 00:21:05,565 --> 00:21:07,145 the scoreboard doesn't win the game. 462 00:21:07,565 --> 00:21:09,545 It only tells you the results 463 00:21:09,575 --> 00:21:11,305 that were achieved on the field. 464 00:21:11,965 --> 00:21:15,025 And so knowing what to do with the metrics 465 00:21:15,245 --> 00:21:19,705 and how to operationalize them is the act is the key part. 466 00:21:19,925 --> 00:21:22,825 And I think that that's where, uh, Dan's team 467 00:21:23,005 --> 00:21:25,585 and where our team kind of combine 468 00:21:25,725 --> 00:21:28,545 and when, when, when we're out there, we're there 469 00:21:28,605 --> 00:21:31,985 to explain, here's this data, here's how to use it 470 00:21:32,525 --> 00:21:34,465 and make it actionable in your business 471 00:21:34,525 --> 00:21:35,865 to create real results. 472 00:21:36,745 --> 00:21:40,295 - Mm-Hmm. Thanks so much for tying that all together, Greg. 473 00:21:40,805 --> 00:21:44,935 That phrase, um, how does it go, what you can't measure, 474 00:21:45,075 --> 00:21:47,975 you can't manage or the reverse of that, that kept coming 475 00:21:47,975 --> 00:21:49,095 to mind as both you 476 00:21:49,095 --> 00:21:51,015 and Dan were explaining the importance 477 00:21:51,015 --> 00:21:52,455 of these KPIs and these metrics. 478 00:21:52,675 --> 00:21:54,895 So appreciate the explanation 479 00:21:55,835 --> 00:21:57,215 and I know we've covered a lot of ground. 480 00:21:57,345 --> 00:21:59,615 We've covered same store sales, technology, 481 00:22:00,295 --> 00:22:01,295 resource consolidation. 482 00:22:01,875 --> 00:22:03,815 So I think I'd like to wrap up our conversation 483 00:22:03,995 --> 00:22:06,655 by really talking about what success looks like. 484 00:22:07,355 --> 00:22:10,015 Um, and Greg, maybe we can get your perspective on this 485 00:22:10,015 --> 00:22:11,695 first since we have you already. 486 00:22:12,235 --> 00:22:13,495 Um, can you share 487 00:22:13,495 --> 00:22:16,055 with us whether there are any key characteristics 488 00:22:16,435 --> 00:22:18,855 of an office that is acquisition ready? 489 00:22:19,165 --> 00:22:20,335 What does that look like 490 00:22:20,475 --> 00:22:23,375 and how can DSOs best align their business 491 00:22:23,375 --> 00:22:25,895 and resources to attract those opportunities? 492 00:22:27,285 --> 00:22:30,175 - Getting ready for an acquisition or 493 00:22:30,195 --> 00:22:33,935 or transaction as an, as an owner of a, of a business, 494 00:22:34,055 --> 00:22:36,815 a multi-location practice, a single location practice. 495 00:22:38,425 --> 00:22:42,645 As you approach that readiness, you are creating a lot of 496 00:22:43,295 --> 00:22:46,965 hybridized systems with technology and people 497 00:22:47,665 --> 00:22:51,045 and you're, you have perfected a lot of your systems 498 00:22:51,265 --> 00:22:55,805 and you feel comfortable that your practice is running kind 499 00:22:55,805 --> 00:22:56,845 of like a sewing machine. 500 00:22:57,195 --> 00:22:59,685 It's got a rhythm, it's moving pretty quickly. 501 00:23:00,145 --> 00:23:03,485 You understand what the next hurdles are going to be 502 00:23:03,545 --> 00:23:05,525 and you already have an understanding of what 503 00:23:05,525 --> 00:23:08,365 that path will be to, to cross those hurdles. 504 00:23:09,195 --> 00:23:14,175 But, uh, the kind of the avatar of a practice that's ready 505 00:23:14,175 --> 00:23:18,655 to go to market or a multi-location group that's ready to go 506 00:23:18,655 --> 00:23:20,975 to market, you have developed goals 507 00:23:21,795 --> 00:23:26,175 and you have an understanding of what the future holds 508 00:23:26,515 --> 00:23:29,255 and there's certain, a certain mentality you are ready 509 00:23:29,355 --> 00:23:30,895 to hand over the reigns. 510 00:23:31,435 --> 00:23:33,935 In some cases this is a retirement plan. 511 00:23:34,435 --> 00:23:37,015 In other ways it's a recap 512 00:23:37,235 --> 00:23:40,895 and it's the realization of a longer term investment. 513 00:23:42,025 --> 00:23:46,725 But the DSOs that are then looking to acquire 514 00:23:47,605 --> 00:23:49,205 practice individual practices 515 00:23:49,265 --> 00:23:52,765 or multi-location groups, those practices, 516 00:23:52,765 --> 00:23:55,885 those owners are looking for A DSO 517 00:23:56,625 --> 00:23:58,765 who has emerged as a leader 518 00:23:58,825 --> 00:24:03,325 and a trusted advisor to dentists, their families 519 00:24:03,585 --> 00:24:06,845 and the staff who work inside those practices. 520 00:24:07,495 --> 00:24:10,325 Those sellers want to know that 521 00:24:11,075 --> 00:24:13,965 when they are partnering with A DSO, 522 00:24:14,075 --> 00:24:16,205 whether in a partnership model 523 00:24:16,345 --> 00:24:19,565 or a full sale model, that 524 00:24:20,075 --> 00:24:24,165 that DSO has their best interest for the practice 525 00:24:24,345 --> 00:24:27,485 and for the providers who work there every day 526 00:24:27,865 --> 00:24:30,285 for the future, that they're invested in their 527 00:24:30,395 --> 00:24:31,885 success as well. 528 00:24:32,715 --> 00:24:36,015 And so we see that they create a, 529 00:24:36,265 --> 00:24:39,895 these the best case scenario, the best practice is 530 00:24:39,895 --> 00:24:44,175 that there's a value creation plan created 531 00:24:44,515 --> 00:24:48,095 for the practice by that DSO And don't, 532 00:24:48,145 --> 00:24:49,535 don't let it be a buy 533 00:24:49,535 --> 00:24:52,055 and hold scenario where like you just keep on doing 534 00:24:52,055 --> 00:24:53,495 what you're doing great. 535 00:24:53,525 --> 00:24:56,895 Like have them show you here's how we plan 536 00:24:56,895 --> 00:24:58,375 to invest in your business. 537 00:24:58,555 --> 00:25:01,455 Here's how we want to see you grow 538 00:25:01,835 --> 00:25:04,015 and how we'll help you do that. 539 00:25:04,785 --> 00:25:08,845 And that should be in the terms of customized approach 540 00:25:09,225 --> 00:25:10,325 to manage your office. 541 00:25:11,285 --> 00:25:15,125 I have seen excellent examples of DSOs committed to growth 542 00:25:15,705 --> 00:25:17,245 for individual offices. 543 00:25:17,765 --> 00:25:19,725 They buy seven offices at a time. 544 00:25:19,955 --> 00:25:23,445 They create seven individualized customized 545 00:25:24,015 --> 00:25:27,005 value creation plans for how they're going to help 546 00:25:27,005 --> 00:25:28,005 that practice grow. 547 00:25:28,285 --> 00:25:30,325 'cause it means better things for everybody. 548 00:25:31,115 --> 00:25:32,935 But I've also seen situations where 549 00:25:33,845 --> 00:25:35,415 DSOs have purchased something 550 00:25:35,875 --> 00:25:38,055 and then just managed to the middle 551 00:25:38,895 --> 00:25:42,035 and there were excellent offices that were pillaged 552 00:25:42,095 --> 00:25:43,275 for their profitability 553 00:25:43,815 --> 00:25:46,195 and in order to support all 554 00:25:46,195 --> 00:25:49,275 of the lower functioning practices that were inside 555 00:25:49,275 --> 00:25:51,075 that portfolio of that DSO. 556 00:25:51,455 --> 00:25:54,915 And so my advice, you know, when you're looking to go 557 00:25:54,915 --> 00:25:58,405 to market is look at the management style 558 00:25:58,585 --> 00:26:02,805 and systems of that DSO, look at their ask for successes 559 00:26:03,075 --> 00:26:05,725 that they've had since they've purchased locations. 560 00:26:06,115 --> 00:26:09,325 Have them prove their, their management skills 561 00:26:09,755 --> 00:26:13,605 because once these deals are done, they can't be unwound. 562 00:26:14,035 --> 00:26:17,085 They play for keeps and it doesn't matter if you're unhappy 563 00:26:17,185 --> 00:26:20,725 or not at the end, the p that transaction happened. 564 00:26:20,785 --> 00:26:22,725 And so there's a lot of things just make sure 565 00:26:23,195 --> 00:26:26,365 that you're there and everybody is pushing in 566 00:26:26,365 --> 00:26:27,445 the same direction of growth. 567 00:26:29,425 --> 00:26:30,515 - Yeah. Thanks so much Greg. 568 00:26:30,575 --> 00:26:34,355 Sounds like it really has to be a two-way conversation, uh, 569 00:26:34,355 --> 00:26:35,515 between the organizations. 570 00:26:35,775 --> 00:26:38,595 So appreciate you sharing those best practices. 571 00:26:39,415 --> 00:26:41,155 Dan, is there anything that you would add here? 572 00:26:42,465 --> 00:26:44,075 - Yeah, I think think the only thing, the, 573 00:26:44,135 --> 00:26:46,115 or a couple things that I would mention that jump out 574 00:26:46,115 --> 00:26:47,595 to me on that front is, you know, to 575 00:26:47,595 --> 00:26:49,875 what Greg was mentioning is, you know, what's happening 576 00:26:49,875 --> 00:26:52,675 of course in the middle between that group 577 00:26:52,675 --> 00:26:53,795 that is getting acquired 578 00:26:54,015 --> 00:26:56,715 and of course the larger group that that does the purchasing 579 00:26:56,715 --> 00:26:58,235 and, and executes the transaction. 580 00:26:58,255 --> 00:27:00,955 And so much of, obviously what happens in 581 00:27:01,115 --> 00:27:03,275 between is about optimizing 582 00:27:03,275 --> 00:27:06,915 and making sure that your group is as polished 583 00:27:06,915 --> 00:27:09,035 as possible from a financial perspective, 584 00:27:09,195 --> 00:27:12,155 a personnel perspective, a process perspective as it can be 585 00:27:12,665 --> 00:27:14,915 that you are not only an attractive offering 586 00:27:15,055 --> 00:27:16,075 to obviously a larger group, 587 00:27:16,095 --> 00:27:19,075 but the right kind of group as kind of Greg mentioned, 588 00:27:19,075 --> 00:27:20,835 given your values and your mission 589 00:27:20,895 --> 00:27:24,435 and what you want to become, right, as an emerging DSO. 590 00:27:24,975 --> 00:27:26,475 And I think so much of, you know, the work 591 00:27:26,475 --> 00:27:30,035 that we do at Clear with offices is really helping them find 592 00:27:30,055 --> 00:27:33,875 or help groups find, you know, unique ways to, you know, 593 00:27:34,315 --> 00:27:37,395 increase that polish, find ways to find more or, uh, to, 594 00:27:37,615 --> 00:27:39,715 or leverage or uninsured patients, rather, 595 00:27:39,775 --> 00:27:42,035 to create a more sustainable revenue stream, 596 00:27:42,455 --> 00:27:43,915 create a more optimized 597 00:27:43,915 --> 00:27:46,795 and stronger coverage foundation that, you know, 598 00:27:46,975 --> 00:27:49,555 can yield high dividends for you and, uh, long term 599 00:27:49,615 --> 00:27:52,435 and obviously for any DSO that's looking to purchase you. 600 00:27:52,495 --> 00:27:55,675 But again, Greg made a great point about, you know, 601 00:27:55,785 --> 00:27:59,595 scoreboards and metrics and all that stuff is great, right? 602 00:27:59,775 --> 00:28:02,795 You can have an idea of I'm getting X amount more revenue 603 00:28:02,935 --> 00:28:04,715 for my uninsured or, you know, 604 00:28:04,735 --> 00:28:07,035 my one PPO is paying more than another one, 605 00:28:07,035 --> 00:28:08,155 so I'm gonna drop this one. 606 00:28:08,155 --> 00:28:10,915 That's all great. But if you don't have the right partners 607 00:28:10,915 --> 00:28:13,315 with you to help your team to execute, 608 00:28:13,455 --> 00:28:15,955 to help you put those right SOPs in process so 609 00:28:15,955 --> 00:28:18,075 that you can be as optimized 610 00:28:18,075 --> 00:28:21,435 and proficient as possible prior to that, uh, transaction, 611 00:28:21,435 --> 00:28:24,075 but the right DSO, then all those numbers 612 00:28:24,095 --> 00:28:25,275 and such don't really matter. 613 00:28:25,335 --> 00:28:26,995 And I'll just speak for Greg. 614 00:28:27,315 --> 00:28:28,915 I know with Greg and this group, they're 615 00:28:28,915 --> 00:28:30,395 so unique because, you know, Greg has kind 616 00:28:30,395 --> 00:28:31,675 of been in the trenches, right? 617 00:28:31,735 --> 00:28:33,595 In offices and tell me if I'm wrong here, Greg, 618 00:28:33,615 --> 00:28:36,515 but Greg's worked in dental practices, he's seen it, 619 00:28:36,545 --> 00:28:39,035 he's done it, he knows what works and what doesn't. 620 00:28:39,175 --> 00:28:40,995 So same thing on the clear side. 621 00:28:40,995 --> 00:28:42,875 We work with so many different dental practices 622 00:28:42,875 --> 00:28:44,835 and have so many different levels of expertise 623 00:28:45,465 --> 00:28:47,595 that you really wanna find the right partners 624 00:28:47,695 --> 00:28:49,555 to help you get to that point so that when it does come 625 00:28:49,555 --> 00:28:52,195 to execution time and that transaction does occur, 626 00:28:52,815 --> 00:28:55,195 you're not worrying about unwinding it after the fact 627 00:28:55,195 --> 00:28:56,795 because you're so confident going into it. 628 00:28:58,005 --> 00:29:00,145 - Uh, it's, it's great to work with Dan 629 00:29:00,525 --> 00:29:03,585 and partner with Clear here because Sky Tale 630 00:29:04,245 --> 00:29:09,105 and Clear both have the same mindset of how can you develop 631 00:29:09,525 --> 00:29:13,385 and be the best version of yourself before you go to market. 632 00:29:14,045 --> 00:29:16,865 And, you know, as we're looking inward in order 633 00:29:16,885 --> 00:29:19,625 to create a lot of value right now and, 634 00:29:19,805 --> 00:29:21,865 and push forward, I don't, I think that 635 00:29:21,865 --> 00:29:24,825 that should have been the mindset forever. 636 00:29:24,995 --> 00:29:27,065 There was a lot of mindset of, well, 637 00:29:27,575 --> 00:29:30,465 from the DSO perspective, you go out 638 00:29:30,845 --> 00:29:33,865 and you buy profitability, you package it, 639 00:29:33,925 --> 00:29:35,745 and then you sell it five years later. 640 00:29:36,495 --> 00:29:39,795 And now there's this focus of wait, we really have 641 00:29:39,795 --> 00:29:44,405 to buckle down and become absolutely awesome . 642 00:29:45,275 --> 00:29:47,695 And so this is kind of like, what I'm thinking 643 00:29:47,695 --> 00:29:49,815 of is like the beginning of the, the golden age 644 00:29:49,955 --> 00:29:52,175 of dental management 645 00:29:52,365 --> 00:29:56,095 because there's a refocus on here's what's important. 646 00:29:56,125 --> 00:29:59,375 This is about growing what you have instead 647 00:29:59,535 --> 00:30:02,655 of just adding more pieces, more pieces to the puzzle. 648 00:30:03,535 --> 00:30:05,795 And so it's, it's great to see this 649 00:30:05,975 --> 00:30:09,435 and now I have the opportunity to work with a lot 650 00:30:09,435 --> 00:30:11,835 of practices who are considering going to market 651 00:30:12,455 --> 00:30:14,075 and we do a valuation for them 652 00:30:14,075 --> 00:30:16,875 and they're like, you know, I would really like to see more, 653 00:30:17,575 --> 00:30:18,995 uh, you know, before we go 654 00:30:18,995 --> 00:30:20,715 and we try to be conservative about 655 00:30:20,715 --> 00:30:22,595 what the market might bring. 656 00:30:23,215 --> 00:30:25,675 And so then we settle back into, you know, 657 00:30:25,795 --> 00:30:28,795 a consulting engagement where we're pushing then like, 658 00:30:28,795 --> 00:30:30,755 all right, well let's, let's round off 659 00:30:30,755 --> 00:30:31,835 some of the edges here. 660 00:30:32,125 --> 00:30:35,915 Let's retool some things in order to add some profitability. 661 00:30:36,375 --> 00:30:38,995 And that's where you see things really come together 662 00:30:38,995 --> 00:30:40,675 because they're like, oh, I didn't even know this 663 00:30:40,675 --> 00:30:41,835 was possible anymore. 664 00:30:42,475 --> 00:30:45,015 And so where we get to where we get 665 00:30:45,015 --> 00:30:46,695 to involve our partners in this 666 00:30:47,315 --> 00:30:51,095 and work together in order to show this piece now practices, 667 00:30:51,135 --> 00:30:54,295 dentists, group executives are looking at like, wow, 668 00:30:55,075 --> 00:30:57,415 you know, I thought we were doing a fantastic job, 669 00:30:57,875 --> 00:31:01,215 but now with all of these tools, the practices, 670 00:31:01,235 --> 00:31:04,535 the business is so much more profitable now we're really 671 00:31:04,535 --> 00:31:05,575 ready to go to market. 672 00:31:05,955 --> 00:31:08,935 And that's the fantastic part of what I get to do every day. 673 00:31:10,465 --> 00:31:12,595 - Well, Greg and Dan, thank you so much 674 00:31:13,175 --> 00:31:16,075 for the great discussion and all of your insights today. 675 00:31:16,425 --> 00:31:19,315 It's been fantastic to hear about your partnership, 676 00:31:19,335 --> 00:31:21,555 how you're working together, and of course some 677 00:31:21,555 --> 00:31:25,275 of those experiences in the trenches really invaluable to, 678 00:31:25,855 --> 00:31:27,835 to our discussion and of course our listeners. 679 00:31:27,895 --> 00:31:29,435 So thank you both again for joining today, 680 00:31:30,505 --> 00:31:31,505 - You for having me. 681 00:31:31,815 --> 00:31:35,085 Thank you, RA. Thanks Greg. Appreciate everyone. Thanks Dan. 682 00:31:35,675 --> 00:31:37,125 - This podcast is sponsored 683 00:31:37,125 --> 00:31:39,325 by Clear Clear's Cloud-based software 684 00:31:39,325 --> 00:31:40,685 and World-class support team. 685 00:31:40,825 --> 00:31:43,045 Remove all of the complexities, hassles, 686 00:31:43,045 --> 00:31:44,565 and costs of dealing with insurance, 687 00:31:44,955 --> 00:31:48,325 improving patient access to care, increasing patient visits 688 00:31:48,585 --> 00:31:49,605 and treatment acceptance, 689 00:31:49,825 --> 00:31:52,685 and providing the foundation for dental practice success. 690 00:31:53,305 --> 00:31:55,165 To learn more@visitclear.com.