Conquer insurance hurdles, beat corporate dentistry, and unlock practice success secrets at allstardentalacademy.com/webinar.
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About Alex Nottingham JD MBA
Alex is the CEO and Founder of All-Star Dental Academy®. He is a former Tony Robbins top coach and consultant, having worked with companies upwards of $100 million. His passion is to help others create personal wealth and make a positive impact on the people around them. Alex received his Juris Doctor (JD) and Master of Business Administration (MBA) from Florida International University.
Transcript performed by A.I. Please excuse the typos.
This is Dental All-Stars, where we bring you the best in dentistry on marketing, management, and training. Here’s your host, Alex Nottingham. Welcome to Dental All-Stars. Dentistry can provide a happy life. I joke that you could slip and fall and do all this stuff and still find money in dentistry. You really have to try. Dentistry has a 90% success rate. That’s better than any franchise out there.
in terms of being successful. Now that doesn’t mean that 90% are thriving, but to make a living, it can be very easy to do that in dentistry. But here’s the thing, others know the secret. They know that dentistry can be very profitable and they believe they can do a better job than you. And that’s corporate dentistry. Corporate dentistry is 7.4% of dentistry. It’s well over $7 billion right now.
And predictions say that it will plateau somewhere between 20 to 25%. Most dental graduates are joining corporate. It makes sense because they have huge student debt. They have no choice. And corporate dentistry knows that they can be much more efficient than you and effective and they will buy you out or they will push you out. And then there’s insurance companies. We all know them. Their motto, make more and pay you less. The effect of dental insurance in your practice
is you’re going to have an increased net overhead. You got to find ways to cut costs and you might have to decrease the quality of care that you provide, i.e. labs, supplies and your time. The ultimate effect is you’re going to need more and more new patients just to survive. And on top of that, costs are going up, inflation, wages are going up, and it’s difficult. In some cases, it feels impossible to find good team members. And ultimately, all of you are stressed out.
And what I have to say to you is this, everything I just said, I believe it’s practically irrelevant. And I believe you can overcome these, what I call external factors. The real problem are these silent killers, and there’s three of them. And when you’re able to unlock and solve these silent killers in your practice, you’re gonna release more money and more time. And the reason I call them silent is because you don’t see them.
and they’re sucking money and time away from your practice and they’re very solvable. They’re very solvable. And I implore you, check out allstradentalacademy.com slash webinar and in that webinar, it’s a free webinar, I’m gonna teach you how to overcome these silent killers and give you a step-by-step plan on how to grow your practice both financially and provide you more free time and happiness. And until next time, go out there and be an All-Star.