002: Buying Our 2nd Practice

FlossBites: Behind the Scenes of FlossNYC

#Business #Marketing #Dental Practice #Buying A Dental Practice #Dental Practice Ownership #Ragini #Moki #Moki Goyal #Podcasting Education #FlossNYC

1:14:43

Artificial intelligence is evolving at an unprecedented pace—what does that mean for the future of technology, venture capital, business, and even our understanding of ourselves? Award-winning journalist and writer Anil Ananthaswamy joins us for our latest episode to discuss his latest book Why Machines Learn: The Elegant Math Behind Modern AI . Anil helps us explore the journey and many breakthroughs that have propelled machine learning from simple perceptrons to the sophisticated algorithms shaping today’s AI revolution, powering GPT and other models. The discussion aims to demystify some of the underlying mathematical concepts that power modern machine learning, to help everyone grasp this technology impacting our lives–even if your last math class was in high school. Anil walks us through the power of scaling laws, the shift from training to inference optimization, and the debate among AI’s pioneers about the road to AGI—should we be concerned, or are we still missing key pieces of the puzzle? The conversation also delves into AI’s philosophical implications—could understanding how machines learn help us better understand ourselves? And what challenges remain before AI systems can truly operate with agency? If you enjoy this episode, please subscribe and leave us a review on your favorite podcast platform. Sign up for our newsletter at techsurgepodcast.com for exclusive insights and updates on upcoming TechSurge Live Summits. Links: Read Why Machines Learn, Anil’s latest book on the math behind AI https://www.amazon.com/Why-Machines-Learn-Elegant-Behind/dp/0593185749 Learn more about Anil Ananthaswamy’s work and writing https://anilananthaswamy.com/ Watch Anil Ananthaswamy’s TED Talk on AI and intelligence https://www.ted.com/speakers/anil_ananthaswamy Discover the MIT Knight Science Journalism Fellowship that shaped Anil’s AI research https://ksj.mit.edu/ Understand the Perceptron, the foundation of neural networks https://en.wikipedia.org/wiki/Perceptron Read about the Perceptron Convergence Theorem and its significance https://www.nature.com/articles/323533a0…

7 років тому 26:22

MP3

So like I said in the first episode, this last year was pretty busy - one of the big happenings was that we bought a second practice. In this episode, Ragini joins me and we talk about the process we went through from meeting the seller, working out the details and some of the elements involved in the transition. Episode Show Notes: 00:26 - How we found our second practice 02:50 - Taking it slow - matching the pace of the seller 06:12 - Appeal to what the seller is looking for 07:08 - The Moment it clicked for the seller 10:52 - Working with the Seller 12:24 - Challenges of the transition 15:44 - Benefits of the transition 18:08 - Things we weren't prepared for 19:52 - Negotiating more difficult transitions 21:30 - Takeaways from purchasing our second practice 24:29 - Benefits of the purchase

23 епізодів

002: Buying Our 2nd Practice

FlossBites: Behind the Scenes of FlossNYC

published 7 років тому

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MP3

23 епізодів

#Business #Marketing #Dental Practice #Buying A Dental Practice #Dental Practice Ownership #Ragini #Moki #Moki Goyal #Podcasting Education #FlossNYC

Усі епізоди

1
023: Here's a Hiring Hack! 5:02

6 years тому5:02

5:02

We've been out of town for a while dealing with some family stuff, but we're back! Last time we talked, we were looking to hire a billing coordinator. Good news! We did it! Normally we use Indeed to hire because we like their tools, but we were getting frustrated with how SO MANY OF THEM WOULD LIE about their dental experience. It was crazy, we'd get all these people with retail experience at Macy's and Sleepy's and others with irrelevant experience. Frustrating, to say the least. So we took the advice of one of Ragini's friends: He puts a link in the job post that asks them a whole set of very specific questions with actual scenarios. This allows him to see how they would handle these situations. So we created a survey in Typeform. We asked candidates to calculate copays and write sample emails given a set of circumstances. This was a great way to not only gather specific information about the candidates, but also weed out the ones that were too lazy to carefully read our post. This saved us a tremendous amount of time. We received 215 applications in two days, but 209 were garbage. Only 6 filled out the survey and of those, we liked 3. We emailed those three and two replied. We did phone interviews and then working interviews and made our selection. I highly recommend doing this to make your job posts more effective and gather most of the information you need without any effort! Episode Show Notes: 00:12 - Catchup: we were in the process of hiring 00:19 - We HIRED someone! 00:27 - Hiring hack we learned 00:43 - Indeed.com allows you ask questions 00:58 - People tend to lie on questions 01:17 - Hundreds of applications with no relevant experience 01:36 - Waste of time to even look through them 01:46 - Ragini's friend shared a hiring tip 02:03 - Link to survey in job post 02:12 - Good for two reasons 02:27 - Automatically weeds people out 02:48 - We created an application with Typeform 03:03 - Asked candidates to calculate co-pays 03:20 - Extracted so much info without wasting time 03:33 - From 215 applicants - we whittled it down to 3! 04:24 - We'll use this for all hiring in the future 04:40 - Great way to bypass irrelevant candidates…

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022: To Hire or Not to Hire... 3:12

6 years тому3:12

3:12

Last week, someone referred an associate dentist to us. But we didn't need another dentist at our practice, at least not yet. But Ragini decided to meet her and feel her out. Turns out she was great! She's a couple years out of school, has real compassion and might be a great culture fit at FlossNYC. As we talked about it more, we realized that we have some big things coming up that could warrant having an associate dentist coming on board. At some point, we want to start a family, so having another dentist would allow Ragini to take a comfortable maternity. We're also looking at purchasing another practice so having another set of hands would be huge for us to keep FlossNYC running smoothly. While we don't need her right away, our long term goals will definitely require another dentist. So we decided to give it a try and hire her on a part time basis for 1 day a week. We hemmed and hawed about it for a while, but then realized that it's not permanent. If it's not working out, we can terminate the arrangement. But trying her out allows us to increase the number of options we have available. It also helps move us towards our long term goals. We're excited to welcome her to our team and explore how she can help us grow the practice! Episode Show Notes: 00:04 - Dentist Referral 00:15 - But we don't need one... 00:35 - Decided to meet her anyway 00:36 - She was GREAT! 00:52 - But what about the future? 01:00 - Starting a family, buying a new practice 01:40 - Taking the plunge - hiring her part time 01:57 - Learning - this moves us towards our LT goals 02:26 - LT goals aren't always obvious 02:44 - Want to establish mentor/mentee relationship…

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021: Our New Patient Count is Down! 2:47

6 years тому2:47

2:47

As we've mentioned, we cancelled all our DMO insurance plans because the reimbursement rate was too low for us. So the terminations will be going into effect soon and we've been informing our patients through an automated campaign to allow them to click a button and update their records. It's a great way to make the process less manual. That's the good news... The bad news, is that our new patient rate has dropped pretty substantially since we dropped the plans. We feel it's the right thing to do - long term, because right now, we're working too hard for far too little money. But while we're still confident in our decision, it never feels good to see your new patient count drop. Our plan is to use our Dental Membership plan to drive growth. I had an idea to appeal to small businesses that might not have dental benefits for their employees. This would be an inexpensive way for the companies to provide a perk for their staff and give them access to discounts at a high-end dental practice. There are tons of shared working spaces all over the city that house thousands of companies. So I'm going to reach out to them to see how I could advertise or host an event to get these types of companies interested. Episode Show Notes: 00:04 - Termination Notice from DMO plans 00:10 - Emailed patients with options 00:40 - Automated links to update our records 00:48 - New Patients rate is lower now 01:02 - Scary but a good trade-off 01:15 - Want to increase patients through FlossClub 01:44 - Appeal to small businesses via co-working spaces 02:23 - Co-working spaces may have some ideas as well…

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020: The Power of Canceling the Day! 4:25

6 years тому4:25

4:25

So Ragini and I were excited to be invited to an exclusive rooftop dinner party in Brooklyn. Farm to table, tour of the gardens - all that stuff. A no brainer, right? So you can imagine our horror to find out it's on a Tuesday at 3 PM. What to do? We had to take a long, hard look in the mirror... Actually, it wasn't that hard. We decided to go. Autonomy means lots of things to different people. But when it comes to Practice Ownership, one of the lesser-known benefits is the ability to give back to yourself. It's not just about production and cash flow - it's about being able to take advantage of being your own boss. Episode Show Notes: 00:02 - Exclusive Invite 00:20 - BUT... 00:36 - The practice enables us to attend 01:00 - Metrics on ownership assessment surveys 01:14 - Autonomy wins by far 01:23 - Traditional definitions of autonomy 02:30 - Lesser-known benefits 03:14 - Not ALWAYS about production 03:41 - Let the practice give BACK to you…

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019: I Let TWO People Down This Week! 6:05

6 years тому6:05

6:05

I let TWO people down this week! And while I hate disappointing people, it was instructive and also helped me clarify my thoughts around being disagreeable and what it really means. Being agreeable all the time means you are putting others' before yourself. Nothing wrong with that - in the SHORT TERM. But if you're doing that ALL the time, then you're probably falling short of your potential. Sometimes it's necessary to put yourself first to move forward - just be prepared to disappoint. But knowing that I'm prioritizing myself eases that pain. 00:13 - I'm a disappointment on two fronts 00:35 - Disappointment #1 01:25 - Breaking the news 02:00 - Her perspective vs ours 02:28 - Disappointment #2 03:20 - May not have been an easy way out 04:05 - Unwritten social contract 04:35 - Breaking down disappointment 04:55 - Agreeable people are taking a backseat 05:40 - Letting people down is prioritizing YOU…

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018: Certainty is a LIE! 7:57

7 years тому7:57

7:57

Certainty is something we're all looking for. But the truth is - it DOES NOT EXIST. It's just a lie we tell ourselves based on prior experiences. For future situations, we can NEVER be certain. That's what makes being an entrepreneur so scary. And things that are scary can paralyze you from learning more and realizing real opportunity. Once you see how ownership allows you to pull levers and affect real change, it's intoxicating. But you don't have to go ALL IN. You can dip your toe in and start learning piece by piece. This helps ease you into being comfortable with risk and uncertainty. And that's when you win. Episode Show Notes: 00:10 - Recap of consulting calls 00:22 - Fear of Failure is a recurring concept 00:33 - Certainty is a complete fiction 01:15 - My FlossClub uncertainty 02:00 - Certainty isn't in the idea... 02:36 - Steve Jobs' certainties 03:25 - Elon Musk's certainties 04:43 - Practice Ownership is not walking the plank 05:22 - Prove or disprove the idea 05:39 - Envision the success 06:16 - Understand the process…

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017: Fears, Fragility and My Free Consulting Offer 8:53

7 years тому8:53

8:53

There's only a few days left for our 20% off promotion. Definitely take advantage if you're interested! August is my starting block for the year. I use it to get ahead while everyone else is getting the last bit of sun out of summer. And I wanted to make you an offer... If you want to do a 20-min consult with me to talk about your fears or next steps in Practice Ownership, I'm going to make myself available after Labor Day to anyone and everyone that wants it. Click the link below to schedule a call with me. There's no cost or obligation - I just want to help you conquer your fears that are holding you back. https://calendly.com/flossnycpracticeblueprint/consult Fears are a funny thing. We all have them and they hold us back from getting where we want to go. I've been taking the advice from Nassim Nicholas Taleb who wrote Anti-Fragile. It talks about how systems that are anti-fragile (or durable) have the element of risk built in. Instead of trying to avoid risk, designers of systems should tackle it head on. This allows you to plan for problems and randomness that are inevitable anyway. By planning for this, fears reduce and you can start living as if you weren't afraid. https://flossnycpracticeblueprint.com Episode Show Notes: 00:04 - 20% off promotion ends in a few days 00:27 - Most common fears from aspiring practice owners 00:49 - My offer to help... 01:52 - My August secret to get ahead 03:19 - Conquering your fears with Anti-Fragility 03:43 - Embracing risk as an inevitability 04:16 - Approaching problems with risk as an assumption 04:29 - Problems we anticipated with our 2nd practice purchase 05:08 - Decision tree for risks we encountered 05:39 - What if you weren't afraid? 06:00 - Planning for contigencies vs a negative attitude 06:40 - Our failure at practice purchases and home purchases 08:00 - We're growing...…

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016: Organizational Debt Exists! 4:14

7 years тому4:14

4:14

I've already written about organizational debt before so you'd think I would have been more prepared for the situation that came up this week! Oh well, always learning... One of our staff members is going back to school and it revealed some inefficiencies that we weren't paying attention to. They're hard to find on your own, but if you keep good processes in place, you can avoid them from flaring up constantly. This one educated us about the importance of improved operations manuals. Don't forget about our 20% off promo code for Practice Blueprint products this month. https://flossnycpracticeblueprint.com Episode Show Notes: 00:12 - What I learned 00:28 - Staff issues 01:15 - Staff training wasn't occurring as planned 02:03 - Organizational Debt - small problems that bubble to the top 02:37 - Solution: Improve our onboarding process 02:55 - Write their own manuals 03:02 - Add videos as well - no guessing 03:30 - Have a library of training content 03:53 - Reminder of our discount through August…

1
015: A Dental Practice is NOT a Life Goal! 3:29

7 years тому3:29

3:29

What are some of your life goals? Is owning a practice one of them? Because if so, let me STOP YOU RIGHT THERE. A practice is NOT a life goal. It's an ENABLER for your REAL life goals. For instance, maybe you want to travel 4 times a year, or pay off all your debt, or see your family more... Once you set your goals and reduce them to the smallest parts, then you'll realize that TIME and MONEY are generally the solution to achieving them. I'm not going to lie, figuring our your life goals isn't always easy. The good news is you've already done the much more difficult work: you're already an expert at dentistry and have hard skills in a well-paying occupation. Now you just need to figure out how to maximize the time and money you get out of it. Lucky for you, we've built a program that does JUST THAT. https://flossnycpracticeblueprint.com Episode Show Notes: 00:03 - Reminder about 20% Promo 00:30 - Practice Ownership is NOT A GOAL 00:47 - It's an enabler like money 01:06 - Time or Money... 01:25 - You already have deep skills 01:42 - Set goals first 01:50 - The goals Ragini and I set 02:30 - Practice provided time and money to achieve our goals 02:50 - Ask why - distill your goals - reduce the fraction 03:20 - Don't focus on the enablers…

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014: 2018 Practice Blueprint Soft Launch! 4:15

7 years тому4:15

4:15

Due to our emergency last week, we had to be out of the office and we let our staff steer the ship for the week. We were pretty nervous about it, but they did a killer job! They provided care for our patients, generated revenue, collected payments and we were able to focus on ourselves. It also made us realize how much Practice Ownership provides outside of just income and lifestyle. In this emergency situation, we were able to keep the office running and continue paying ourselves! This is just ANOTHER reason why we're so hell-bent on helping others become Practice Owners. If you're even THINKING about Practice Ownership, NOW is the time. And here's why: We're about to launch the 2018 version of Practice Blueprint. We've added additional content and made it even easier to follow. We also streamlined our product plans to make it more flexible and practical depending on where you are in the process. And through August, we're offering a DISCOUNT to all our FlossBites members as a thank you for hanging with us! Check out the episode for the discount code and let us help you impact your career and lifestyle in ways you can't even imagine! 2018 Practice Blueprint Info: https://flossnycpracticeblueprint.com Episode Show Notes: 00:15 - Left office in staff's hands last week 00:24 - Staff picked up everything - we checked out 00:46 - Thanks to the staff for helping us out 00:59 - Staff allowed us to deal with our situation 02:05 - BIG NEWS on Practice Blueprint Soft Launch 02:30 - Simplified product offering (Monthly and All-In plans) 03:45 - Discount and Promo Code…

1
013: Need Your Advice on Referral Gifts 3:15

7 years тому3:15

3:15

We're looking at options for a patient referral gift especially since we've just started our membership plan. We used to give out the best brownies in the world, but we wanted to see if there was something that would have more wow factor... Does your office give any kind of referral gifts or even thank yous? I'd love to hear what's working.…

1
012: Personal Tragedy and the Support of your Team 1:48

7 years тому1:48

1:48

Short episode: Personal tragedy struck this week and we weren't able to go into the office. Luckily, our team picked up everything. They were able to keep treating our patients and keep the office running smoothly with minimal intervention. I've never been prouder of what we've built.

1
011: You Definitely Can't Be ANYTHING You Want To Be 7:08

7 years тому7:08

7:08

It's easy to think you can just be anything you want to be. But I call BULLSHIT. You're a CERTAIN kind of person. You can improve certain skills with practice, but you don't have infinite potential. Rather than thinking you can do anything or be anyone, try being a little creative and hack the system. I share one of my biggest personal weaknesses and explain how I get around it. Episode Show Notes: 00:13 - You can improve, but not infinitely 00:30 - Mentors are great to aspire to but... 00:59 - You're a CERTAIN KIND OF PERSON 01:10 - My huge weakness of meeting people 02:20 - Hacking my weakness 03:08 - Get to know yourself better 03:37 - Be creative 04:32 - Don't be too hard on yourself 05:35 - Encouragement only goes so far 05:44 - New launch of Practice Blueprint 06:33 - Please share your own struggles!…

1
010: Updates Galore! 8:10

7 years тому8:10

8:10

I wanted to give a few updates that relate to previous episodes and some new developments. In this episode, I cover our new receptionist, the FlossClub membership plan we're offering to our patients, more info on how we dropped the DMO plans, how we found out our fees were too low, and a new segment, where I share something I learned last week. Episode Show Notes: 00:05 - We hired a receptionist! 00:47 - We're almost ready to launch FlossClub (see link) 01:43 - Subscriber question: How did we drop the DMO plans? 02:16 - Letting our patients know 03:20 - Our fees were TOO LOW by almost 50% 04:27 - What I learned this week - Manage your staff WITH your staff 05:20 - Are passions found or developed? 07:33 - Your own staff can help create the relationships if you interact References: Front Office Rocks https://frontofficerocks.com/ Our FlossClub Membership Plan Website http://www.flossnyc.com/flossclub-info FairHealth Consumer Site https://www.fairhealthconsumer.org/estimate-costs/step-2…

1
009: Our New Dental Membership Plan 9:12

7 years тому9:12