We are excited to be at the Mastermind in Smithville, Tennessee, on the second day. We are broadcasting from this event, and we are joined by Dr. Matt Corbin and Dr. Ben Height to chat about lifestyle, family life and dentistry, and profitability of your practice.
In our roundtable today, we discuss the importance of designing your dental office space around your specific office and practice needs. Dr. Corbin took over a practice from Dr. Silverstein four years ago and has since doubled his business’s gross profit. In addition, he was able to bring in procedures that were previously referred out, such as sedation.
Dr. Height purchased his practice in 2017 after working in a dental office for eight years. He bought his office at $1.2 million and brought it up to $1.5 million the first year of business in a 1,000 square foot practice – with only himself as a practitioner.
If you want to build and grow a practice significantly, it’s a good idea to purchase a business grossing around $500 to $600,000 annually. When you look at practices making over $1 million, you have to have a specific skill set to handle that type of profit in the dental practice to keep your numbers at or above a million dollars a year.
The most important aspect of having a dental practice is to focus on doing more of what you want to do inside your practice. Always look for a different way to practice if what you are doing isn’t filling your cup.
Dentistry is changing. Technology, education, and resources are closer to our fingertips now more than ever! Are you ready to learn what millennial dentists are doing to exceed patient expectations, enjoy dentistry more and take vacations and how this generation can join up with the previous generation to make for an unstoppable dental team? Wait no longer! Listen in and find out how to push your lifestyle to the next level.
[01:51] Matt’s expectations of Dr. Sully’s old office.
[03:52] The importance of designing your office around your dental practice needs.
[04:30] Dr. Matt Corbin and Dr. Ben Height share their office stats.
[09:31] Choosing your work schedule based on your lifestyle.
[13:00] Having a space that you enjoy and feel good practicing in.
[14:17] Facilitating success in your practice.
[19:49] Roadblocks holding dentists back from making changes in their business.
[28:13] Looking at the profitability of procedures and taking items off that aren’t as profitable.
[35:42] Getting to a place of contentment; which also means lack of motivation.
[42:25] The importance of commitment to family life.
As always, thanks so much for listening! If you like the show, we would love for you to review the show on Apple Podcasts as well as spread the word! If you have any questions or want to get in touch, shoot me an email at firstname.lastname@example.org
Links and Resources
Richard Sullivan, DDS
Partner, Sullivan Dental Partners
Co-host/Founder of the Millennial Dentist Podcast
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