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June 30, 2020

096 How I Saved Over $600 a Month with Apex Financial Services

Millennial Dentist Podcast

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.

Welcome back to another episode! Episode 96, we chat with Dr. Zach Allmond, who started dental school in 2001, shortly before 9-11. Three weeks later, he signed up for the Air Force, who paid for his dental school. Zach served in Afghanistan in 2008 as a dental officer. Next, he and his wife, also a dentist, reopened an office location in Indiana. After a while, they decided to move back to their hometown and purchased his own practice in 2013 with an income of $600K and a focus on profitability, Dr. Zach turned his new dental clinic profit of $1.8 million in less than a year.

Creating a plan to drive down overhead and simultaneously increase case acceptance, Dr. Zach and his partner had a roadmap to success. By bringing in high dollar items and presenting these items in a way that is acceptable to patients, Dr. Zach created Apex Payment Solutions. At the time, there wasn’t a financial opportunity for merchant services for dentists to develop flexible plans for their patients. He reached out to a friend in the financial industry,

Many merchant services start you at a low rate, then bump your fees up the longer you have your account. Dr. Zach and I chat about the process of credit card fees, how credit card companies get their money back when offering rewards, and why you need to accept American Express cards at your dental practice.

Learn how to increase your case acceptance and increase your income by more than 20%, how to train your employees to drive down overhead costs, and how you can reach a 102% collections rate. Find out how to pay less than 2.25% on your credit card transactions, and how Dr. Zach’s Apex Payment Solutions Merchant Services has saved me $623 just in one month alone!

Show Notes:

[02:20] Dr. Zach’s new business and how his company is helping dentists. 

[06:52] Bringing value to your practice and learning how you fit into an office.

[11:16] How Dr. Zach created his company Apex Payment Solutions Merchant Services for dentists.

[15:24] Dr. Sully and Dr. Zach breakdown the details of merchant services.

[19:06] Why 82% of Dr. Zach’s cases over $5000 are paid for with American Express.

[21:32] Dr. Zach and I review our current merchant services fees with Apex Payment Solutions Merchant Services.

[24:22] How to increase your case acceptance more than 20% per year.

[31:51] Tips for dental practices to take payment plans from clients.

[33:27] The more data you put into a platform, the more your transaction rate goes down.

[36:20] Apex Payment Solutions contactless terminals and text to pay for client payment, protecting your front desk staff.

[41:20] Optics and how hygienists are using this technique.

[46:40] Hitting goals by using efficiency and automation.

[51:52] How to contact Dr. Zach at Apex Payment Solutions.

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 millennialdentist@gmail.com.

Links and Resources:

MillennialDentist@gmail.com

The Millennial Dentist Website

@Millennialdentist on Facebook

@MillennialDDS on Twitter

On Instagram 
Dr. Sully…@Millennialdentist on Instagram
Dr. Peyman…@drpeyray on Instagram

Dr. Sully’s website and blog 

Apex Payment Solutions

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