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The Dental Wealth Nation Show is for practice owners building toward—or navigating through—the most consequential financial event of their career: the exit.
Host Tim McNeely operates a Virtual Family Office serving dental entrepreneurs with $5M–$25M in net worth. He holds the rare combination of CFP®, CIMA®, CEPA®, and CPFA® designations—a credential stack bridging comprehensive wealth management with specialized exit planning. His clients don't need another advisor. They need a financial quarterback coordinating the advisors they already have.
Each episode unpacks the coordination failures that cost practice owners millions: mistimed exits, fragmented tax strategies, wealth structures that don't survive the transition from practice income to portfolio income. You'll hear direct conversations with elite tax counsel, M&A specialists, and practice owners who've already made the crossing.
Subscribe and visit dentalwealthnation.com for resources.
Episodes
Monday Feb 19, 2024
Monday Feb 19, 2024
Welcome to The Dental Wealth Nation Show, where we empower dentists to increase their net worth and make a significant impact in their field. In this enlightening episode, our host, The Dental Wealth Nation Intro Guy, sits down with the highly accomplished Dr. Kory Wegner, CEO and founder of Coaching for Success, to unravel the strategies for maximizing your dental practice's potential.
Dr. Kory Wegner brings a wealth of experience to the discussion, offering invaluable insights into the small, yet profound changes you can implement for a substantial effect on patient care, team dynamics, and overall business success. Dentists and dental professionals tuning in will find a trove of actionable advice to refine their practice methods and enhance profitability.
With Dr. Wegner's innovative perspective, we delve into the intricacies of modern dentistry, emphasizing the role of ethical selling and the significance of patient-centered treatments. Discover how focusing on a select number of procedures and tools can not only streamline operations but also alleviate practitioner burnout and elevate patient satisfaction.
The episode also covers the crucial aspects of practice management, from marketing to scheduling, pinpointing the need for dental coaching and consultancy to tackle the unique challenges faced by solo practitioners and larger practices alike. Dr. Wegner's insights into cultivating a thriving workplace culture and the importance of connecting with team members are indispensable for any dental leader looking to retain talent and foster a harmonious work environment.
Moreover, Dr. Wegner candidly shares his experiences with Dental Service Organizations (DSOs), offering sage advice for those considering such transitions. Listeners will learn the importance of due diligence, contract negotiations, and preserving clinical autonomy in these arrangements.
For a limited time, Dr. Wegner extends an exclusive offer to The Dental Wealth Nation Show listeners: a substantial discount on his coaching program for early responders. Alongside the valuable content shared within the episode, our guest provides an opportunity for free coaching calls, further solidifying his commitment to uplifting the dental community.
Discussion Questions:
- How can dental professionals begin to implement small changes in their practice to create a big impact without overwhelming their team?
- Dr. Wegner discussed the significance of magnification in dental work. What are some steps a dental practice can take to ensure they are using the most effective tools for visualization and precision in treatment?
- What are the key factors that dental practitioners should consider when searching for a coach or consultant to improve their practice operations?
- Ethical selling within the dental practice was emphasized by Dr. Wegner. How can dental teams improve their approach to selling treatments and services to ensure they are patient-centered and ethical?
- Dr. Wegner streamlined his practice to focus on 8 essential procedures. What criteria can dentists use to decide which procedures to focus on, and how might this decision affect their practice?
- What are some potential risks and benefits of dentists selling their practices to join Dental Service Organizations (DSOs), and how can they prepare for the transition?
- Dr. Wegner highlighted the importance of building trust with patients. Can you share additional tactics or experiences for cultivating strong relationships with patients?
- Considering Dr. Wegner's experience, how can dentists effectively involve patients in treatment plans and ensure their needs and wants are addressed?
- How can dentists maintain their passion for the profession while managing the stress and potential burnout associated with running a dental practice?
- The Dental Wealth Nation Show focuses on maximizing net worth for dentists. Based on Dr. Wegner's insights, what are some key strategies dentists can employ to enhance their financial stability while providing excellent patient care?
This engaging episode of The Dental Wealth Nation Show is a must-listen for dental professionals eager to refine their practice, boost their operations, and achieve dental wealth. Be sure to visit dentalwealthnation.com for additional resources and strategies to transform your dental practice, and don't forget to book your coaching call with Dr. Kory Wegner to embark on a journey toward unparalleled practice success.
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