1 00:00:00,199 --> 00:00:02,700 This is Manhattan with the Becca Dental Ds 2 00:00:03,000 --> 00:00:03,500 podcast. 3 00:00:04,120 --> 00:00:06,279 I'm thrilled to be joined today by Doctor 4 00:00:06,440 --> 00:00:07,160 Chad Carpenter, 5 00:00:07,574 --> 00:00:10,607 Ceo of West Dakota Dental Partners, Doctor Carpenter. 6 00:00:10,766 --> 00:00:12,043 Thank you so much for joining us today. 7 00:00:13,400 --> 00:00:14,996 You're welcome. I'm glad to be here. 8 00:00:16,524 --> 00:00:18,985 Great. To start us off, could you introduce 9 00:00:18,985 --> 00:00:20,494 yourself and tell us somebody about your background? 10 00:00:22,320 --> 00:00:22,718 Sure. 11 00:00:24,004 --> 00:00:26,402 I'm a dentist in South Dakota, and I've 12 00:00:26,402 --> 00:00:27,141 been practicing 13 00:00:27,760 --> 00:00:30,077 here for about 20 years. I graduated from 14 00:00:30,317 --> 00:00:31,915 Nebraska in 2005. 15 00:00:32,649 --> 00:00:34,085 And I live here with my wife, and 16 00:00:34,085 --> 00:00:35,361 we have 6 children together. 17 00:00:36,079 --> 00:00:36,579 And 18 00:00:36,956 --> 00:00:39,269 I loved dentistry. I I love my team, 19 00:00:39,509 --> 00:00:41,901 and there's so much happening in the industry. 20 00:00:42,634 --> 00:00:44,228 And in our practices that 21 00:00:45,185 --> 00:00:46,858 when I got asked to join you guys 22 00:00:46,858 --> 00:00:48,691 for this conversation, I was excited to do 23 00:00:48,691 --> 00:00:49,829 it because sometimes 24 00:00:50,779 --> 00:00:52,613 when we get asked questions, we we get 25 00:00:52,613 --> 00:00:54,209 to kinda of think about a more deeply 26 00:00:54,209 --> 00:00:56,601 and and answer in a more meaningful way. 27 00:00:56,761 --> 00:00:59,792 And so sometimes they get clarification on the 28 00:00:59,792 --> 00:01:02,195 vision by having a conversation with someone like 29 00:01:02,274 --> 00:01:04,342 You. So thanks for having me. 30 00:01:05,614 --> 00:01:06,807 Fantastic. That's great to hear. 31 00:01:07,523 --> 00:01:09,369 My first question for you is what are 32 00:01:09,369 --> 00:01:11,524 the biggest issues you're following in dental in 33 00:01:11,524 --> 00:01:12,322 20 24? 34 00:01:14,558 --> 00:01:14,797 Well, 35 00:01:16,873 --> 00:01:17,852 reimbursement rates 36 00:01:18,723 --> 00:01:19,701 have been really 37 00:01:20,155 --> 00:01:21,826 kind of lin pen for our group. 38 00:01:23,019 --> 00:01:25,030 We have 2 pediatric clinics 39 00:01:25,659 --> 00:01:27,890 in our ecosystem, and we see a lot 40 00:01:27,890 --> 00:01:28,528 of Medicaid. 41 00:01:29,404 --> 00:01:32,056 And when they bump our rem 42 00:01:33,563 --> 00:01:36,533 it has significant effects on how we hire 43 00:01:36,909 --> 00:01:39,299 how we compensate our team, how we make 44 00:01:39,299 --> 00:01:39,777 reinvestment, 45 00:01:40,749 --> 00:01:41,868 And so that's been 46 00:01:42,507 --> 00:01:43,786 something that's affected us. 47 00:01:44,745 --> 00:01:45,725 You know, our 48 00:01:46,344 --> 00:01:46,844 regular 49 00:01:47,542 --> 00:01:49,860 insurance like Delta Dental or whatever. That doesn't 50 00:01:49,860 --> 00:01:51,307 change a lot from year to year. 51 00:01:52,180 --> 00:01:54,324 But in our pe practices where we have 52 00:01:54,324 --> 00:01:55,538 a little bit higher Medicaid 53 00:01:56,070 --> 00:01:57,975 participation that's been a big deal. 54 00:01:59,499 --> 00:02:00,058 For instance, 55 00:02:00,776 --> 00:02:02,953 we have a surgery center 56 00:02:03,410 --> 00:02:05,566 where we do our s suggestions for our 57 00:02:05,566 --> 00:02:07,721 pediatric patients under general anesthesia. 58 00:02:08,534 --> 00:02:10,715 And we were going through the accreditation process 59 00:02:10,854 --> 00:02:13,814 to become an ambulatory surgical center, which is 60 00:02:13,814 --> 00:02:14,534 pretty onerous, 61 00:02:15,334 --> 00:02:17,435 really hard on the team and really expensive 62 00:02:18,229 --> 00:02:18,729 And 63 00:02:19,266 --> 00:02:20,005 the Medicaid 64 00:02:21,339 --> 00:02:24,450 fee got adjusted just enough to push us 65 00:02:25,646 --> 00:02:27,582 over into the black. And so 66 00:02:29,007 --> 00:02:30,518 we had to sit down with the team 67 00:02:30,518 --> 00:02:31,018 and 68 00:02:31,392 --> 00:02:33,061 look at a spreadsheet and do some math 69 00:02:33,061 --> 00:02:34,730 and decide. Is this worth doing? 70 00:02:35,857 --> 00:02:36,357 Or 71 00:02:36,887 --> 00:02:39,288 should we, you know, pause on the As 72 00:02:39,501 --> 00:02:40,611 accreditation effort for a bit? 73 00:02:41,403 --> 00:02:42,220 And so 74 00:02:43,004 --> 00:02:44,602 the main reason to have a surgery center 75 00:02:44,602 --> 00:02:46,360 is just so you can do the Ga 76 00:02:46,360 --> 00:02:47,878 cases we weren't looking at it as a 77 00:02:47,878 --> 00:02:49,337 profit center. And so 78 00:02:49,956 --> 00:02:51,050 with the change in 79 00:02:51,965 --> 00:02:52,465 rem 80 00:02:52,920 --> 00:02:55,864 from Medicaid, we were actually able to be 81 00:02:55,864 --> 00:02:58,172 in the black. And so that had a 82 00:02:58,172 --> 00:03:00,241 huge effect on us. 83 00:03:00,973 --> 00:03:03,067 So that's 1 thing I would say is 84 00:03:03,365 --> 00:03:05,299 just how we're getting paid 85 00:03:05,836 --> 00:03:06,712 from different payers. 86 00:03:07,669 --> 00:03:08,807 Another thing is 87 00:03:09,758 --> 00:03:12,235 evolutions in all on x or full arch. 88 00:03:13,274 --> 00:03:15,032 In my practice for I work. I don't 89 00:03:15,032 --> 00:03:16,790 work at the pediatric clinics. I work at, 90 00:03:17,124 --> 00:03:18,642 a private practice that I own. 91 00:03:19,361 --> 00:03:19,861 And 92 00:03:20,640 --> 00:03:22,637 we've been doing a lot more all on 93 00:03:22,637 --> 00:03:23,915 x or full arch cases. 94 00:03:24,809 --> 00:03:25,869 It's something that 95 00:03:26,248 --> 00:03:28,166 is in demand here in the Black Hills. 96 00:03:28,725 --> 00:03:30,483 And my team absolutely loves it. 97 00:03:31,122 --> 00:03:33,280 And we're using a fully digital workflow now. 98 00:03:34,014 --> 00:03:34,814 So we have 99 00:03:35,775 --> 00:03:37,534 you know, a designer that does a smile 100 00:03:37,534 --> 00:03:37,775 design. 101 00:03:38,495 --> 00:03:41,294 We kind of prep plan everything out, take 102 00:03:41,294 --> 00:03:43,389 the teeth out This is, like, a it's 103 00:03:43,389 --> 00:03:44,849 an un guided approach 104 00:03:45,870 --> 00:03:47,969 on using this workflow. And so 105 00:03:48,349 --> 00:03:49,709 after we take the teeth that we put 106 00:03:49,709 --> 00:03:52,303 the implants in, And then we take a 107 00:03:52,602 --> 00:03:54,680 Ios scan with, like, a prime scan or 108 00:03:54,840 --> 00:03:55,319 It terror, 109 00:03:55,959 --> 00:03:58,057 and then we'll use something called photo. 110 00:03:58,516 --> 00:03:59,735 We use Ic cam 111 00:04:00,049 --> 00:04:03,241 but there's different iterations. There's pick, there's micron 112 00:04:03,241 --> 00:04:04,997 map or there's Opt plant and there's other 113 00:04:04,997 --> 00:04:06,535 different other different 114 00:04:06,992 --> 00:04:07,971 modalities, but 115 00:04:08,524 --> 00:04:10,759 that gets you a super passive accurate fit 116 00:04:10,759 --> 00:04:11,898 of your printed 117 00:04:12,995 --> 00:04:14,772 provisional. So then we'll print 118 00:04:15,230 --> 00:04:17,306 their temp hybrid on our 1 of our 119 00:04:17,386 --> 00:04:17,785 Sprint raise. 120 00:04:18,437 --> 00:04:19,892 And we have a full time laboratory 121 00:04:20,267 --> 00:04:22,812 technician that handles all that. She is awesome. 122 00:04:23,767 --> 00:04:25,937 So, yeah. Those are kind of the 2 123 00:04:25,994 --> 00:04:26,631 things that... 124 00:04:27,283 --> 00:04:28,980 I think about a lot is just 125 00:04:29,516 --> 00:04:32,069 the all on side of my practice. And 126 00:04:32,069 --> 00:04:34,940 then on the pediatric side, just the explosive 127 00:04:34,940 --> 00:04:37,589 growth that our clinics have had and how 128 00:04:37,589 --> 00:04:39,906 we manage expenses and hire and stuff like 129 00:04:39,906 --> 00:04:41,345 that. They'll answer your question well? 130 00:04:42,543 --> 00:04:43,822 Yes. Thank you for sharing. 131 00:04:44,781 --> 00:04:45,340 For sure. 132 00:04:46,235 --> 00:04:48,235 So what are you most excited about and 133 00:04:48,235 --> 00:04:49,834 what makes you nervous and dental until? 134 00:04:51,355 --> 00:04:53,435 You know, the thing that gets me the 135 00:04:53,435 --> 00:04:55,115 most excited is just... 136 00:04:55,769 --> 00:04:57,604 Being in the with my patient. 137 00:04:59,759 --> 00:05:02,014 I was looking on social media this weekend 138 00:05:02,152 --> 00:05:03,131 and 1 of my 139 00:05:03,524 --> 00:05:04,884 I've been in his dentist for 12 years. 140 00:05:05,125 --> 00:05:07,285 He sadly passed away from Leukemia. 141 00:05:08,084 --> 00:05:10,584 And I just saw him last week, and, 142 00:05:10,805 --> 00:05:12,425 you know, we got to hug and 143 00:05:12,978 --> 00:05:15,047 and talk about his diagnosis a little bit 144 00:05:15,047 --> 00:05:17,536 and my he got a little teary eyed 145 00:05:17,672 --> 00:05:19,445 in the conversation and 146 00:05:20,154 --> 00:05:21,430 you know, I know is why if they 147 00:05:21,430 --> 00:05:22,068 go to my church, 148 00:05:23,903 --> 00:05:26,136 it just meant a lot for me to 149 00:05:26,136 --> 00:05:27,891 be able to provide that care for him 150 00:05:27,891 --> 00:05:29,646 over the years and then had to say 151 00:05:29,646 --> 00:05:29,885 goodbye. 152 00:05:30,774 --> 00:05:33,179 And just reminded me that 153 00:05:33,552 --> 00:05:35,615 I'm part of the community, I'm part of 154 00:05:35,615 --> 00:05:38,155 my patient's lives and what we do matters. 155 00:05:39,204 --> 00:05:40,884 Really matters to people. They get to keep 156 00:05:40,884 --> 00:05:42,324 their teeth or if they don't have teeth, 157 00:05:42,485 --> 00:05:43,365 they get to get teeth. 158 00:05:44,004 --> 00:05:45,444 They get to look and feel their best. 159 00:05:46,179 --> 00:05:47,554 So it's a really important 160 00:05:47,929 --> 00:05:48,804 mission that we're on. 161 00:05:49,600 --> 00:05:51,828 And so when all this crazy stuff happens 162 00:05:51,828 --> 00:05:52,328 with 163 00:05:53,180 --> 00:05:55,503 overhead and people quitting and people get stressed 164 00:05:55,503 --> 00:05:57,657 out and interest rates, my loans are rep 165 00:05:57,657 --> 00:05:59,412 pricing. How am Gonna make that up. My 166 00:05:59,412 --> 00:06:00,050 rent went up, 167 00:06:01,326 --> 00:06:03,958 all these problems, my assistance quitting, She can't 168 00:06:03,958 --> 00:06:06,685 make enough money in assisting is a single 169 00:06:06,685 --> 00:06:08,759 mom. So she's leaving for nursing. You can 170 00:06:08,759 --> 00:06:10,035 make 20 dollars more an hour. 171 00:06:10,753 --> 00:06:13,406 So these are real problems that we're facing 172 00:06:13,464 --> 00:06:14,842 and it's easy to 173 00:06:15,234 --> 00:06:17,386 let that kinda weigh on you and take 174 00:06:17,386 --> 00:06:19,697 your mind in the dark place. But then 175 00:06:19,697 --> 00:06:21,689 as soon as I get into the operator 176 00:06:21,689 --> 00:06:22,486 with my patient, 177 00:06:23,138 --> 00:06:24,969 I just pour into them and all that 178 00:06:24,969 --> 00:06:25,685 just goes away. 179 00:06:26,560 --> 00:06:27,299 And so 180 00:06:27,833 --> 00:06:29,823 that's what I'm most excited about is just 181 00:06:29,823 --> 00:06:32,702 continuing to build relationships with my patients. And 182 00:06:32,702 --> 00:06:34,773 having my team might buy me. I on 183 00:06:34,773 --> 00:06:36,785 my side each and every day. And, 184 00:06:37,161 --> 00:06:38,674 you know, they make my day better. I 185 00:06:38,674 --> 00:06:40,426 make their day better and together, 186 00:06:41,159 --> 00:06:44,053 we create great outcomes for our patients. So 187 00:06:44,511 --> 00:06:45,869 that would be the number 1 thing is 188 00:06:45,869 --> 00:06:46,369 just 189 00:06:46,826 --> 00:06:49,062 providing great care and not just dental care, 190 00:06:49,221 --> 00:06:49,881 but also 191 00:06:50,435 --> 00:06:52,915 being there emotionally for the patient and just 192 00:06:52,915 --> 00:06:54,455 showing them love and 193 00:06:54,995 --> 00:06:57,795 treating them you, at the highest level that 194 00:06:57,795 --> 00:06:58,115 we can. 195 00:06:59,328 --> 00:07:01,635 Yeah. Absolutely. It's good that you have that 196 00:07:01,635 --> 00:07:04,737 opportunity to, you know, really foster that that 197 00:07:04,737 --> 00:07:05,931 doctor patient relationship. 198 00:07:07,063 --> 00:07:07,143 Oh. 199 00:07:08,582 --> 00:07:09,082 It's 200 00:07:10,340 --> 00:07:12,817 it's I think it's 1 advantage of a 201 00:07:12,817 --> 00:07:13,716 private practice 202 00:07:14,829 --> 00:07:17,541 with a owner dentist that lives in the 203 00:07:17,541 --> 00:07:18,977 community that's not moving. 204 00:07:19,775 --> 00:07:21,312 You just get really ingrained 205 00:07:22,024 --> 00:07:24,652 and people, they trust you, they know you. 206 00:07:25,369 --> 00:07:26,166 They believe you, 207 00:07:27,042 --> 00:07:27,998 you can get 208 00:07:28,794 --> 00:07:31,000 really great cases on patients that 209 00:07:31,595 --> 00:07:33,816 accept care with value. They pay with value. 210 00:07:34,372 --> 00:07:36,276 And they come back into your hygiene program. 211 00:07:37,149 --> 00:07:38,204 Year after year 212 00:07:38,514 --> 00:07:40,269 you know, with the dentistry that you did 213 00:07:40,269 --> 00:07:40,986 still in their mouth, 214 00:07:42,342 --> 00:07:43,560 you don't have to 215 00:07:44,336 --> 00:07:46,251 convince people to do treatment when they already 216 00:07:46,251 --> 00:07:47,527 know you and they've known you for a 217 00:07:47,527 --> 00:07:48,085 long time. 218 00:07:49,217 --> 00:07:49,956 And so 219 00:07:50,652 --> 00:07:52,327 I do have colleagues at travel, 220 00:07:53,124 --> 00:07:54,879 nothing wrong with that at all. We have 221 00:07:54,879 --> 00:07:57,112 a lot of traveling doctors at our hospital 222 00:07:57,112 --> 00:07:58,963 here in town. And a lot of them 223 00:07:58,963 --> 00:08:01,460 are, like, super awesome people. But, 224 00:08:01,919 --> 00:08:03,756 you know, when they're not from the town, 225 00:08:05,209 --> 00:08:07,838 it's a little bit different because people don't 226 00:08:07,838 --> 00:08:09,352 know you. They don't know your parents. 227 00:08:10,706 --> 00:08:12,539 Their kids aren't in school with your kids 228 00:08:12,539 --> 00:08:14,371 because your kids maybe live somewhere else. And 229 00:08:14,371 --> 00:08:17,189 so I think that's a huge advantage to, 230 00:08:18,037 --> 00:08:20,283 you know, just like a more traditional model 231 00:08:20,497 --> 00:08:22,735 of of a private practice where it's like, 232 00:08:23,132 --> 00:08:25,437 you're the friendly local dentist that everybody knows 233 00:08:25,437 --> 00:08:26,788 when they see you in the grocery store. 234 00:08:27,504 --> 00:08:29,673 I think we have a leg up on 235 00:08:30,224 --> 00:08:31,845 you know, people that just 236 00:08:32,304 --> 00:08:33,904 kind of blow in and then blow out. 237 00:08:34,865 --> 00:08:35,924 I've seen some 238 00:08:36,865 --> 00:08:39,584 patients come in travel very long distances to 239 00:08:39,584 --> 00:08:39,981 see me, 240 00:08:40,853 --> 00:08:43,074 they maybe had a big, implant case done. 241 00:08:43,233 --> 00:08:44,978 Now they have some problems and they'll say, 242 00:08:45,057 --> 00:08:45,295 like, 243 00:08:46,104 --> 00:08:48,259 Oh, you know, my dentist, he moved away 244 00:08:48,259 --> 00:08:49,457 or he closed practice, 245 00:08:49,936 --> 00:08:52,091 and it wasn't like a retirement situation. It 246 00:08:52,091 --> 00:08:54,406 was just the the gal or the guy 247 00:08:54,406 --> 00:08:56,805 whoever just decided to move on. And I'm 248 00:08:56,805 --> 00:08:58,471 not saying that they were doing anything bad. 249 00:08:58,709 --> 00:08:59,264 It's just 250 00:09:00,533 --> 00:09:01,589 when people leave 251 00:09:02,373 --> 00:09:04,044 you know, now there's a big void there. 252 00:09:04,203 --> 00:09:05,714 And so if you're just kind of like 253 00:09:05,714 --> 00:09:06,851 a a rock 254 00:09:07,544 --> 00:09:10,419 in your community, you're there, you're not going 255 00:09:10,419 --> 00:09:12,243 anywhere. You're not planning on moving, 256 00:09:12,798 --> 00:09:14,859 and you kind of execute that, you know, 257 00:09:15,018 --> 00:09:16,604 that gives people a lot of confidence. 258 00:09:17,254 --> 00:09:18,682 Is you need to do a good job, 259 00:09:19,158 --> 00:09:20,745 you need to have high integrity because if 260 00:09:20,745 --> 00:09:21,142 you don't, 261 00:09:21,856 --> 00:09:23,523 you know, you're gonna be there. You're gonna 262 00:09:23,523 --> 00:09:25,451 have to be accountable to that. And so 263 00:09:25,998 --> 00:09:28,957 I kinda welcome that extra layer of accountability, 264 00:09:30,282 --> 00:09:32,107 just being there for the long haul instead 265 00:09:32,107 --> 00:09:33,956 of just looking at no short 266 00:09:34,344 --> 00:09:35,298 short time horizons. 267 00:09:35,775 --> 00:09:36,275 So 268 00:09:36,808 --> 00:09:38,740 that's another way that I think about it 269 00:09:39,035 --> 00:09:40,704 about what it's like to practice and us 270 00:09:40,704 --> 00:09:42,851 smaller community. I understand like, in a big 271 00:09:42,851 --> 00:09:43,169 city, 272 00:09:44,299 --> 00:09:47,252 maybe these things don't resonate as much because 273 00:09:47,252 --> 00:09:49,188 you don't know anybody in the grocery store 274 00:09:49,487 --> 00:09:49,646 anyway, 275 00:09:50,604 --> 00:09:52,461 a couple my friends practice in Denver 276 00:09:52,855 --> 00:09:54,695 And when I tell them about stuff like 277 00:09:54,695 --> 00:09:57,014 that, they don't really, like, get it. Right? 278 00:09:57,174 --> 00:09:59,434 Because I live in a smaller town. So 279 00:09:59,495 --> 00:10:00,934 it's like, about 80000 people, 280 00:10:01,983 --> 00:10:04,205 Anyway. Interesting. Yeah. Thank you for sharing. 281 00:10:04,681 --> 00:10:05,395 Oh, you're welcome. 282 00:10:06,189 --> 00:10:08,570 So what about what makes you most nervous 283 00:10:08,570 --> 00:10:09,125 in dental? 284 00:10:10,251 --> 00:10:12,237 You know, it isn't really in dental. It's 285 00:10:12,237 --> 00:10:15,176 just sort of there's the une right now 286 00:10:15,176 --> 00:10:17,797 with, you know, what's happening with the economy. 287 00:10:18,288 --> 00:10:20,119 Stock market seems to be hanging in there, 288 00:10:20,756 --> 00:10:23,541 but, you know, is this gonna last? We 289 00:10:23,541 --> 00:10:25,451 all fight... You know, we were gonna already 290 00:10:25,451 --> 00:10:27,281 deed maybe on our second or third rate 291 00:10:27,281 --> 00:10:29,446 cut. So far, and we haven't even had 292 00:10:29,446 --> 00:10:29,685 1. 293 00:10:30,880 --> 00:10:33,030 You know, there's even some people predicting that 294 00:10:33,030 --> 00:10:34,065 rates could go up, 295 00:10:34,702 --> 00:10:37,424 maybe 1 time in 20 24 296 00:10:37,424 --> 00:10:38,140 not go down. 297 00:10:39,253 --> 00:10:40,947 I think most people still 298 00:10:41,322 --> 00:10:43,311 expect at least 1 rate cut before the 299 00:10:43,311 --> 00:10:46,191 election. But when I'm looking at the economy 300 00:10:46,191 --> 00:10:47,865 as a whole, I'm thinking, okay, 301 00:10:48,821 --> 00:10:52,008 if something happens and 4 1 values start 302 00:10:52,008 --> 00:10:52,508 dropping 303 00:10:53,044 --> 00:10:54,898 and retirees start panicking, 304 00:10:55,529 --> 00:10:57,924 how's that gonna affect our ability to do 305 00:10:57,924 --> 00:10:58,823 what we do 306 00:10:59,441 --> 00:10:59,941 because 307 00:11:00,319 --> 00:11:02,075 I was around in 2008 308 00:11:02,075 --> 00:11:03,353 and 2009? 309 00:11:03,672 --> 00:11:04,731 And I saw 310 00:11:05,044 --> 00:11:07,118 you know, patients delayed treatment and stuff like 311 00:11:07,118 --> 00:11:07,937 that. And 312 00:11:08,713 --> 00:11:09,452 that's where, 313 00:11:10,308 --> 00:11:12,780 you know, it's easy to poo poo, like, 314 00:11:12,940 --> 00:11:15,349 oh, medicaid yuck. Right? Like, well, 315 00:11:16,307 --> 00:11:17,905 yeah. Until there's a recession, 316 00:11:18,704 --> 00:11:20,622 and then it doesn't change at all. Like, 317 00:11:20,782 --> 00:11:21,900 there's no drop. Right? 318 00:11:22,634 --> 00:11:23,294 And so 319 00:11:23,673 --> 00:11:24,972 heavy insurance practices, 320 00:11:25,591 --> 00:11:26,490 lots of Ppo, 321 00:11:27,269 --> 00:11:29,027 You know, there's a lot of, like, more 322 00:11:29,027 --> 00:11:30,326 boutique dentists that 323 00:11:30,879 --> 00:11:33,272 they'll say things like, oh, I comprehensive the 324 00:11:33,272 --> 00:11:34,947 treatment plan and it's more of a boutique 325 00:11:34,947 --> 00:11:35,425 office. 326 00:11:36,223 --> 00:11:37,818 Patients will pay for things that they value. 327 00:11:37,977 --> 00:11:39,333 I agree with all of that. That's how 328 00:11:39,493 --> 00:11:40,450 I would like to practice. 329 00:11:41,344 --> 00:11:42,723 But if you have 330 00:11:43,501 --> 00:11:46,218 a nice base of people that depend on 331 00:11:46,218 --> 00:11:48,136 their insurance benefits, they come in every 6 332 00:11:48,136 --> 00:11:49,095 months for their cleaning, 333 00:11:49,750 --> 00:11:51,110 They'll do a crown or 2, 334 00:11:51,910 --> 00:11:53,669 you know, they'll do a canal, they'll do 335 00:11:53,669 --> 00:11:54,470 an implant. 336 00:11:55,190 --> 00:11:57,429 They're willing to invest in their in their 337 00:11:57,429 --> 00:11:57,669 mouth. 338 00:11:58,881 --> 00:12:00,312 As long as they don't lose their job, 339 00:12:00,629 --> 00:12:02,616 probably if there's a recession, they'll still do 340 00:12:02,616 --> 00:12:04,546 the care. It those big 341 00:12:04,920 --> 00:12:06,691 kind of comprehensive cases 342 00:12:07,398 --> 00:12:08,907 that I'm doing more and more of all 343 00:12:08,907 --> 00:12:11,154 the time. I think I'll be affected 344 00:12:11,845 --> 00:12:14,624 if something hits if, like, there's a big 345 00:12:14,624 --> 00:12:15,895 downturn The economy. 346 00:12:16,785 --> 00:12:18,884 But, you know, I mean, They've been talking 347 00:12:19,105 --> 00:12:21,445 about that for 2 to 3 years now 348 00:12:21,985 --> 00:12:23,665 that, oh, you know, it's coming and it's, 349 00:12:23,745 --> 00:12:25,639 like, well, hasn't come. And so 350 00:12:26,079 --> 00:12:27,677 just kind of pressing forward and 351 00:12:29,036 --> 00:12:31,194 knowing that you can always pivot, you can 352 00:12:31,194 --> 00:12:31,694 always 353 00:12:33,192 --> 00:12:34,491 cut your spending personally 354 00:12:35,524 --> 00:12:36,024 if 355 00:12:36,401 --> 00:12:38,655 if there's some sort of a crunch and 356 00:12:39,830 --> 00:12:41,048 even if you had to 357 00:12:42,063 --> 00:12:44,056 sell off some assets or I mean, 358 00:12:44,790 --> 00:12:46,250 I guess what I'm saying is 359 00:12:47,190 --> 00:12:49,529 dentists should be ready and have a plan 360 00:12:49,590 --> 00:12:52,149 for if something does happen with the economy. 361 00:12:52,643 --> 00:12:55,030 How they gonna react to be okay and 362 00:12:55,030 --> 00:12:56,621 hopefully not have to lay off any other 363 00:12:56,621 --> 00:12:57,518 team. So 364 00:12:57,973 --> 00:12:59,189 that's probably what I'm 365 00:12:59,818 --> 00:13:02,868 concerned about is just general economic conditions and 366 00:13:03,881 --> 00:13:05,236 and how the country is doing as a 367 00:13:05,236 --> 00:13:06,612 whole because I think 368 00:13:07,003 --> 00:13:09,095 the the dental industry follows 369 00:13:09,630 --> 00:13:11,460 will follow that, especially at the higher end. 370 00:13:12,575 --> 00:13:14,166 Yeah. Absolutely. Thank you. 371 00:13:14,978 --> 00:13:17,451 What are the most effective health leaders need 372 00:13:17,451 --> 00:13:19,286 to be successful in the next 2 to 373 00:13:19,286 --> 00:13:19,845 3 years? 374 00:13:22,093 --> 00:13:22,333 Well, 375 00:13:23,130 --> 00:13:25,066 taking care of your team, and 376 00:13:26,081 --> 00:13:28,394 that means listening, that means investing in them, 377 00:13:28,714 --> 00:13:30,947 you know, getting together, sitting around the table. 378 00:13:31,999 --> 00:13:32,899 Talking about, 379 00:13:33,277 --> 00:13:35,195 you know, the question that you asked me, 380 00:13:35,435 --> 00:13:37,352 like, what am I most worried about? I 381 00:13:37,352 --> 00:13:38,790 tried to ask that to my team. 382 00:13:39,604 --> 00:13:41,353 Like, hey. What's stressing you out at work 383 00:13:41,353 --> 00:13:43,578 right now. Is there anything that we need 384 00:13:43,578 --> 00:13:45,271 to be doing better? So 385 00:13:45,804 --> 00:13:46,781 just trying to listen 386 00:13:48,286 --> 00:13:50,438 but my team happy and engaged, you know, 387 00:13:50,517 --> 00:13:52,771 we take better care of our patients. And 388 00:13:53,865 --> 00:13:56,030 I shared with you that I have a 389 00:13:56,030 --> 00:13:59,076 really awesome dental assistant that's leading the profession 390 00:13:59,850 --> 00:14:01,600 because she can make more money as a 391 00:14:01,600 --> 00:14:01,839 nurse. 392 00:14:02,968 --> 00:14:05,594 And in my state, south Dakota, 393 00:14:06,151 --> 00:14:08,778 they control what the assistance can do a 394 00:14:08,778 --> 00:14:09,335 little more. 395 00:14:09,892 --> 00:14:11,745 Like, for instance, in Colorado, 396 00:14:12,374 --> 00:14:15,236 if the dentist prepares a cavity and a 397 00:14:15,236 --> 00:14:15,554 tooth, 398 00:14:16,190 --> 00:14:19,291 it's okay for a trained non dentist to 399 00:14:19,291 --> 00:14:20,881 come in and, like put a filling in. 400 00:14:22,247 --> 00:14:25,027 And so in our state, like, that's not 401 00:14:25,027 --> 00:14:26,003 allowed. And so 402 00:14:26,615 --> 00:14:28,282 it's not all, you know, kitten whisk and 403 00:14:28,282 --> 00:14:29,950 rainbows, of course. If you have a non 404 00:14:29,950 --> 00:14:31,085 dense performing 405 00:14:31,554 --> 00:14:33,154 things is it gonna be as good. 406 00:14:33,875 --> 00:14:35,875 They don't have the training. They don't understand 407 00:14:35,875 --> 00:14:38,115 the biology. It's like, well, okay, there may 408 00:14:38,115 --> 00:14:39,154 be some truth to that. 409 00:14:39,888 --> 00:14:42,434 But only looking at the economic side and 410 00:14:42,434 --> 00:14:43,946 how much I can pay my assistant, 411 00:14:44,662 --> 00:14:46,412 you know, if all you can do is 412 00:14:46,412 --> 00:14:46,912 really 413 00:14:47,462 --> 00:14:49,531 traditional classic chairs site assisting, 414 00:14:50,009 --> 00:14:52,158 there's a ceiling to how much you can 415 00:14:52,158 --> 00:14:52,635 get paid. 416 00:14:53,510 --> 00:14:54,329 And so 417 00:14:54,879 --> 00:14:56,879 if we wanna be able to retain and 418 00:14:56,879 --> 00:14:58,879 attract top talent into dentistry, 419 00:14:59,679 --> 00:15:02,500 it it's my feeling that we need to 420 00:15:02,892 --> 00:15:05,274 explore ways to allow our team members to 421 00:15:05,274 --> 00:15:07,974 do more. If I could delegate more, I 422 00:15:07,974 --> 00:15:10,062 could pay more. And so 423 00:15:10,689 --> 00:15:12,860 you know, trying to keep a team together 424 00:15:13,316 --> 00:15:16,579 when the economics doesn't always support, like, a 425 00:15:16,579 --> 00:15:17,079 super 426 00:15:17,455 --> 00:15:17,932 high pay. 427 00:15:19,303 --> 00:15:21,541 You know, the hydrogen is do do pretty 428 00:15:21,541 --> 00:15:23,958 good. But if you're a single mom 429 00:15:24,337 --> 00:15:25,216 trying to buy a house, 430 00:15:26,429 --> 00:15:27,865 making 22 dollars an hour, 431 00:15:28,503 --> 00:15:28,742 like, 432 00:15:29,380 --> 00:15:30,098 really hard. 433 00:15:30,656 --> 00:15:32,252 And maybe in some communities, 434 00:15:32,650 --> 00:15:34,884 home prices are still, like, more affordable by 435 00:15:34,884 --> 00:15:35,681 in the Black hills, 436 00:15:36,414 --> 00:15:37,934 have a mountain town out here. 437 00:15:38,654 --> 00:15:41,134 Things are already expensive. And then during Covid, 438 00:15:41,615 --> 00:15:43,154 like all these people from 439 00:15:43,868 --> 00:15:45,219 like, California, Oregon, 440 00:15:46,412 --> 00:15:46,912 Washington, 441 00:15:47,683 --> 00:15:49,909 Colorado, they're all sort of moving into the 442 00:15:49,909 --> 00:15:51,124 black Hills. And so 443 00:15:51,593 --> 00:15:53,266 there's a lot of migration that or, I 444 00:15:53,266 --> 00:15:55,099 guess, not migration, but, like coming in from 445 00:15:55,099 --> 00:15:56,852 other states into South Dakota, and so that 446 00:15:56,852 --> 00:15:59,082 really drove our property prices up, so it's 447 00:15:59,082 --> 00:16:00,277 even more difficult. 448 00:16:01,089 --> 00:16:03,244 So to answer your question about, like, leadership, 449 00:16:03,483 --> 00:16:03,983 just, 450 00:16:04,520 --> 00:16:06,515 you know, keeping your finger on the pulse 451 00:16:06,515 --> 00:16:08,851 of what's going on with your team and 452 00:16:09,085 --> 00:16:11,165 possibly even advocating at a state level. 453 00:16:11,804 --> 00:16:14,044 So I have the opportunity to, you know, 454 00:16:14,605 --> 00:16:15,745 advocate for expanded 455 00:16:16,125 --> 00:16:16,625 function 456 00:16:17,085 --> 00:16:17,884 of my team, 457 00:16:18,539 --> 00:16:20,129 at the house of Delegates coming up in 458 00:16:20,288 --> 00:16:22,935 May. And it came up last year 459 00:16:23,310 --> 00:16:24,026 didn't pass. 460 00:16:24,980 --> 00:16:27,445 Failed like 19 to 13. So their support 461 00:16:27,445 --> 00:16:29,604 for allowing us systems to do more things, 462 00:16:29,763 --> 00:16:30,556 but not enough. 463 00:16:31,429 --> 00:16:32,937 And I was at a meeting sitting around 464 00:16:32,937 --> 00:16:34,523 the table with a lot of dentists and 465 00:16:34,523 --> 00:16:36,110 it's overwhelmingly against. 466 00:16:37,000 --> 00:16:38,120 And I heard a lot of 467 00:16:39,559 --> 00:16:42,039 you know, people saying, oh, you know, they'll 468 00:16:42,039 --> 00:16:43,080 never be able to do it as good 469 00:16:43,080 --> 00:16:44,414 as a dentist and 470 00:16:45,170 --> 00:16:48,591 Frankly, I think there's some clinicians that don't 471 00:16:48,591 --> 00:16:50,659 really train their team very well. 472 00:16:51,628 --> 00:16:53,796 Maybe they don't have the leadership skills to 473 00:16:53,852 --> 00:16:56,155 take people to a higher level. And so 474 00:16:56,155 --> 00:16:58,300 they don't want they don't want someone like 475 00:16:58,300 --> 00:17:00,225 me to be able to do that. Because 476 00:17:00,225 --> 00:17:02,625 that would be a threat. Right? So they 477 00:17:02,625 --> 00:17:05,184 kinda wanna, like, protect their little corner. They 478 00:17:05,184 --> 00:17:06,625 understand how it works. They don't want it 479 00:17:06,625 --> 00:17:07,365 to change 480 00:17:07,999 --> 00:17:10,577 and we're doing okay without it. So, 481 00:17:11,196 --> 00:17:12,714 you know, it is what it is. But 482 00:17:12,714 --> 00:17:14,312 if I can if I can find a 483 00:17:14,312 --> 00:17:17,442 way to elevate my team and take them 484 00:17:17,442 --> 00:17:18,639 from the place where they're at, 485 00:17:19,756 --> 00:17:22,069 improve their skills, improve their mindset, make their 486 00:17:22,069 --> 00:17:23,345 life better pay them more, 487 00:17:23,983 --> 00:17:26,136 give them a greater sense of meeting and 488 00:17:26,136 --> 00:17:28,064 purpose, make sure that they know I really 489 00:17:28,064 --> 00:17:29,497 appreciate that they're there that they're with me. 490 00:17:29,815 --> 00:17:31,886 Those skills are are super valuable. 491 00:17:32,523 --> 00:17:34,832 I think so any healthcare leader, you know, 492 00:17:35,643 --> 00:17:37,971 I have hospital privileges at our local hospital 493 00:17:38,583 --> 00:17:39,083 and 494 00:17:39,457 --> 00:17:41,149 got a really big, 495 00:17:41,682 --> 00:17:42,658 you know, monolithic 496 00:17:43,430 --> 00:17:43,930 organization 497 00:17:44,478 --> 00:17:45,694 it's harder for 498 00:17:46,069 --> 00:17:48,400 the leadership to really impact 499 00:17:48,775 --> 00:17:50,366 all the team members because it's just such 500 00:17:50,366 --> 00:17:51,162 a big team. 501 00:17:52,052 --> 00:17:53,718 And in a dental clinic, we have a 502 00:17:53,718 --> 00:17:54,829 unique opportunity, 503 00:17:55,385 --> 00:17:58,163 typically, our clinics are smaller. And so if 504 00:17:58,163 --> 00:17:59,139 we want to 505 00:17:59,449 --> 00:18:01,841 we can know our team. We can notice 506 00:18:01,841 --> 00:18:03,914 when they look sad, dick in on them, 507 00:18:04,551 --> 00:18:06,465 Ask them him if they're okay, you know, 508 00:18:08,234 --> 00:18:09,591 just kind of be in their form creating 509 00:18:09,591 --> 00:18:11,688 like a family environment. And 510 00:18:12,066 --> 00:18:14,323 I think that's been something that we've 511 00:18:15,020 --> 00:18:16,457 been able to do it wasn't by design, 512 00:18:16,537 --> 00:18:18,384 and it's just sort of how what happens. 513 00:18:18,622 --> 00:18:20,051 We have a meeting once a week for 514 00:18:20,051 --> 00:18:20,607 1 hour, 515 00:18:21,321 --> 00:18:23,306 where we sit down the whole team. 516 00:18:24,179 --> 00:18:26,005 We don't see any patients. We don't even 517 00:18:26,005 --> 00:18:27,931 answer the phone. So from Tuesday morning from 518 00:18:27,931 --> 00:18:28,489 8 to 9. 519 00:18:29,605 --> 00:18:30,961 And sometimes we'll go over, 520 00:18:31,997 --> 00:18:34,070 like, Kpis, like, how many new patients have 521 00:18:34,070 --> 00:18:35,799 we got? What's your hygiene retention 522 00:18:36,238 --> 00:18:39,987 hygiene retention and whatever other little new software 523 00:18:39,987 --> 00:18:42,220 things you're gonna be doing, but sometimes we'll 524 00:18:42,220 --> 00:18:44,692 just watch, like a motivational video or listen 525 00:18:44,692 --> 00:18:45,352 to something 526 00:18:46,140 --> 00:18:48,839 that maybe helps us away from work. But 527 00:18:48,839 --> 00:18:51,299 maybe it's also apple applicable to work, but 528 00:18:51,299 --> 00:18:53,522 it's not necessarily dental centric. 529 00:18:54,729 --> 00:18:57,201 And so that's been another way to engage 530 00:18:57,201 --> 00:18:58,339 my team is just 531 00:18:58,875 --> 00:19:00,949 maybe it's a ted talk or Jake, we 532 00:19:00,949 --> 00:19:02,624 even had a book club where we read 533 00:19:02,943 --> 00:19:05,425 Daniel Go book called emotional intelligence, 534 00:19:06,380 --> 00:19:08,050 just sort of learning about how, 535 00:19:08,765 --> 00:19:10,697 how to read people, body language, 536 00:19:11,071 --> 00:19:12,582 how to get into rapport with a patient, 537 00:19:12,662 --> 00:19:14,668 and how to build trust, how to listen, 538 00:19:15,626 --> 00:19:18,020 that type of thing. So investing in my 539 00:19:18,020 --> 00:19:20,814 team in a way that isn't always just 540 00:19:20,814 --> 00:19:23,303 dental. We go trips how you know, 1 541 00:19:23,303 --> 00:19:25,219 of my friends, that's the dentist system to 542 00:19:25,219 --> 00:19:25,937 my community, 543 00:19:26,815 --> 00:19:28,811 he took a clinic over that his dad 544 00:19:28,811 --> 00:19:31,126 had and they used to go on trips. 545 00:19:31,938 --> 00:19:32,256 Together. 546 00:19:33,131 --> 00:19:34,881 And he told me, like, he didn't think 547 00:19:34,881 --> 00:19:36,710 it was worth it. And so he wasn't 548 00:19:36,710 --> 00:19:38,858 gonna be taking the team on any trips 549 00:19:38,858 --> 00:19:39,994 anymore, you know, and 550 00:19:40,384 --> 00:19:42,640 And it is expensive when you're flying people 551 00:19:43,497 --> 00:19:45,093 across the country and you're putting them up 552 00:19:45,093 --> 00:19:47,008 in hotels and buying them food and paying 553 00:19:47,008 --> 00:19:48,126 for the tuition to the course. 554 00:19:48,939 --> 00:19:50,853 Can be, like, 30 to 40 grand, depending 555 00:19:50,853 --> 00:19:51,890 on how big your team is. 556 00:19:53,007 --> 00:19:54,681 But if you do that, like, once every 557 00:19:54,681 --> 00:19:56,516 so often once every few years. It's like, 558 00:19:56,675 --> 00:19:58,292 it means a lots of people, and 559 00:19:59,565 --> 00:20:01,484 you, when they're around each other outside of 560 00:20:01,484 --> 00:20:04,605 work, they they're able to build relationships and 561 00:20:04,605 --> 00:20:05,664 trust and 562 00:20:07,099 --> 00:20:08,633 you know, I feel like 563 00:20:10,202 --> 00:20:12,112 if you're trying to spruce up your your 564 00:20:12,271 --> 00:20:14,340 P and L because you're gonna sell and 565 00:20:14,340 --> 00:20:16,305 you're trying to drive it, your No you 566 00:20:16,503 --> 00:20:18,487 Eb up, because you think you're going to 567 00:20:18,487 --> 00:20:20,788 get some multiple on, like, what your profit 568 00:20:20,788 --> 00:20:20,946 is. 569 00:20:21,819 --> 00:20:23,979 And so for 2 years before you sell, 570 00:20:24,218 --> 00:20:26,452 you kinda clamp it down. Like, I get 571 00:20:26,452 --> 00:20:26,692 that. 572 00:20:27,330 --> 00:20:30,203 But I would rather sacrifice a few percentage 573 00:20:30,203 --> 00:20:31,102 points of profit 574 00:20:31,654 --> 00:20:33,800 and have, like, absolutely kick ass culture. 575 00:20:34,754 --> 00:20:35,254 And, 576 00:20:35,867 --> 00:20:38,411 you know, I... I'm a client of this 577 00:20:38,411 --> 00:20:40,119 accounting firm that publishes, 578 00:20:40,496 --> 00:20:43,607 like guidelines. Like, here some ranges you should 579 00:20:43,607 --> 00:20:44,883 try to stay in as a dentist. 580 00:20:45,521 --> 00:20:47,116 You know, keep your staff salaries at, like, 581 00:20:47,275 --> 00:20:48,972 38 percent, no higher 582 00:20:49,523 --> 00:20:52,545 keep your rent at 6 percent or whatever 583 00:20:52,545 --> 00:20:54,296 it is. And you kind of get those 584 00:20:54,296 --> 00:20:55,648 out and look at them to kind make 585 00:20:55,648 --> 00:20:57,341 sure you're not out of range and 586 00:20:58,366 --> 00:20:59,715 you know, if you're a little bit high 587 00:20:59,715 --> 00:21:00,350 on c, 588 00:21:00,984 --> 00:21:02,595 maybe a little bit high on 589 00:21:03,205 --> 00:21:03,602 payroll. 590 00:21:05,204 --> 00:21:07,278 And you feel like your top line revenue 591 00:21:07,278 --> 00:21:09,910 number is really solid. Like, the productions there 592 00:21:09,910 --> 00:21:11,505 you guys are kicking butt. You're doing the 593 00:21:11,505 --> 00:21:14,137 right kind of dentistry, your busy, hygiene schedules 594 00:21:14,137 --> 00:21:14,535 are full. 595 00:21:15,664 --> 00:21:17,333 Mean, you could always do top line revenue, 596 00:21:17,492 --> 00:21:20,115 but assume that you're already doing really good 597 00:21:20,115 --> 00:21:23,056 there, that how could you how could you 598 00:21:23,056 --> 00:21:23,556 explain 599 00:21:24,264 --> 00:21:26,019 being off target in a few other categories. 600 00:21:26,179 --> 00:21:26,977 And it's like well, 601 00:21:27,774 --> 00:21:28,673 because you're making 602 00:21:29,370 --> 00:21:31,067 a decision to sacrifice 603 00:21:32,175 --> 00:21:34,799 perceived profit for these other intangible things, 604 00:21:35,594 --> 00:21:38,138 like, people are happy. I like my job. 605 00:21:38,377 --> 00:21:40,206 I have 2 assistants in my room all 606 00:21:40,206 --> 00:21:40,683 the time. 607 00:21:41,334 --> 00:21:43,084 So my neck and back feel better than 608 00:21:43,084 --> 00:21:45,152 they ever have. That doesn't show up on 609 00:21:45,152 --> 00:21:46,925 a P and L. So, 610 00:21:47,777 --> 00:21:50,834 you know, doing some of those things spending 611 00:21:51,049 --> 00:21:52,740 extra money where maybe I shouldn't 612 00:21:53,352 --> 00:21:56,370 from an accountant standpoint. My Cfo would Wag 613 00:21:56,370 --> 00:21:58,852 finger at me, but And maybe it's a 614 00:21:58,852 --> 00:22:00,049 excuse for lack of discipline, 615 00:22:00,608 --> 00:22:02,604 Whereas, you know, I probably need to rein 616 00:22:02,604 --> 00:22:04,439 it back a little bit. But, I guess 617 00:22:04,439 --> 00:22:05,636 that's just what I'm trying to say is, 618 00:22:06,768 --> 00:22:08,277 not being afraid to invest in the team. 619 00:22:08,674 --> 00:22:09,571 Even if it 620 00:22:10,104 --> 00:22:13,043 might drag your, you know, profit and loss 621 00:22:13,043 --> 00:22:14,711 statement in a direction that you don't wanna 622 00:22:14,711 --> 00:22:16,802 see. Because it seems like the balance sheet 623 00:22:16,802 --> 00:22:18,160 keeps going in the right direction. 624 00:22:19,439 --> 00:22:21,537 Even though the P and L doesn't always 625 00:22:21,836 --> 00:22:24,084 look that great. And lastly, as we've added 626 00:22:24,164 --> 00:22:26,155 Den in, when it was me and my 627 00:22:26,155 --> 00:22:26,713 5 chairs, 628 00:22:27,828 --> 00:22:29,581 I had like the best lowest overhead in 629 00:22:29,581 --> 00:22:31,493 the history of whatever. It was just like 630 00:22:31,493 --> 00:22:31,892 amazing. 631 00:22:32,544 --> 00:22:34,314 And as I've added dense in 632 00:22:35,084 --> 00:22:37,148 and grown. It's like, what happened to my 633 00:22:37,148 --> 00:22:37,545 margin? 634 00:22:38,021 --> 00:22:39,450 Like, they went poof. 635 00:22:40,497 --> 00:22:43,140 It's not that bad. I'm I'm exaggerating, but 636 00:22:43,354 --> 00:22:44,941 I think I think what you got my 637 00:22:44,941 --> 00:22:45,099 point. 638 00:22:46,210 --> 00:22:48,289 Yeah. Thank you so much. For for sharing. 639 00:22:48,369 --> 00:22:49,799 It sounds like you have some really great 640 00:22:49,799 --> 00:22:53,533 strategies there and really prioritize culture will be 641 00:22:53,533 --> 00:22:55,440 really helpful for health leaders in the next 642 00:22:55,440 --> 00:22:55,837 few years. 643 00:22:57,288 --> 00:22:59,606 Doctor Carpenter. Thank you so much for joining 644 00:22:59,606 --> 00:23:01,464 us today, and for all of your fascinating 645 00:23:01,683 --> 00:23:03,362 insights. I look forward to connecting with you 646 00:23:03,362 --> 00:23:04,161 again in the future. 647 00:23:05,452 --> 00:23:07,353 Alright, R. I appreciate you giving me a 648 00:23:07,353 --> 00:23:08,621 chance to talk. Have a great day. 649 00:23:09,333 --> 00:23:10,204 Thank you. You too.