775: PPO Write-Offs Demystified: Unlock Strategies to Retain More of Your Hard-Earned Money! – Dr. Barrett Straub & Christina Byrne

The Best Practices Show with Kirk Behrendt

775: PPO Write-Offs Demystified: Unlock Strategies to Retain More of Your Hard-Earned Money! – Dr. Barrett Straub & Christina Byrne

Do you want to trade more time at the office for less energy, less money, and less memories with your family? If you want to stop giving up your time for write-offs, don't miss this episode! Kirk Behrendt brings back Dr. Barrett Straub, ACT’s CEO, and Christina Byrne, ACT’s director of operations and head coach, to help you understand the different gaps in your practice, why they occur, and how to minimize them so you can work less and make more money. To start keeping more of what you earn, listen to Episode 775 of The Best Practices Show!

Learn More About Dr. Straub & Christina:

• Send Dr. Straub an email: [e-mail]
• Join Dr. Straub on Facebook: https://www.facebook.com/barrett.d.straub
• Register for Dr. Straub’s GAPs Method workshop session #1 (August 23, 2024): https://www.actdental.com/gaps
• Register for Dr. Straub’s GAPs Method workshop session #2 (September 6, 2024): https://www.actdental.com/gaps
• Send Christina an email: [e-mail]
• Send Gina an email: [e-mail]

More Helpful Links for a Better Practice & a Better Life:

• Subscribe to The Best Practices Show: https://the-best-practices-show.captivate.fm/listen
• Join The Best Practices Association: https://www.actdental.com/bpa
• Join ACT’s To The Top Study Club: https://www.actdental.com/ttt
• See the ACT Dental/BPA Live Event Schedule: https://www.actdental.com/event
• Get The Best Practices Magazine for free: https://www.actdental.com/magazine
• Please leave us a review on the podcast: https://podcasts.apple.com/us/podcast/the-best-practices-show-with-kirk-behrendt/id1223838218

Episode Resources:

• Watch the video version of Episode 775: https://www.youtube.com/@actdental/videos
• Register for ACT’s webinar, Strategic Goal-Setting for a Thriving Dental Practice (August 29, 2024): https://www.actdental.com/121
• Download ACT’s Financial Gaps at a Glance: https://23476641.fs1.hubspotusercontent-na1.net/hubfs/23476641/47%20The%20Financial%20GAPs%20at%20a%20Glance%20-%2005.pdf
• Download ACT’s PPO Roadmap: https://23476641.fs1.hubspotusercontent-na1.net/hubfs/23476641/ACT%20Dental%20PPO%20Roadmap.pdf

Main Takeaways:

• Data knowledge is power. It allows you to make better financial decisions.
• Make informed decisions with the help of data before dropping PPOs.
• Track capacity. It’s the only way to see how full your chairs truly are.
• Follow the GAPs method to identify where you're losing revenue.
• Don't try to figure out your numbers as you go. It won't work out.
• Use data, not your feelings, to make key business decisions.
• Understand the ways write-offs affect your profitability.
• Know the different gaps and KPIs you need to track.
• It's about your vision of your ideal practice.

Snippets:

0:00 Introduction.

3:49 Objectives, ACT’s TTT, and BPA.

8:04 Why this is an important topic.

10:02 PPO write-offs, explained.

16:30 The effort gap, explained.

31:57 Real-life examples of the effort gap.

38:18 KPIs to analyze.

49:56 Final takeaways.

52:21 Q&A: Tracking capacity when your dentist is working out of two or more ops.

53:57 Q&A: Is it okay to use six to eight months of data versus a full year?

56:20 More about ACT’s future GAPs seminar and webinar.

Dr. Barrett Straub Bio:

Dr. Barrett Straub practices general and sedation dentistry in Port Washington, Wisconsin. He has worked hard to develop his practice into a top-performing, fee-for-service practice that focuses on improving the lives of patients through dentistry.

A graduate of Marquette Dental School, Dr. Straub’s advanced training and CE includes work at the Spear Institute, LVI, DOCS, and as a member of the Milwaukee Study Club. He is a past member of the Wisconsin Dental Association Board of Trustees and was awarded the Marquette Dental School 2017 Young Alumnus of the Year. As a former ACT coaching client that experienced first-hand the transformation that coaching can provide, he is passionate about helping other dentists create the practice they’ve always wanted.

Dr. Straub loves to hunt, golf, and spend winter on the ice, curling. He is married to Katie, with two daughters, Abby and Elizabeth.

Christina Byrne Bio:

Christina Byrne has been involved in dentistry since 1985. Over the years, she has held many positions on the dental team, including dental assistant, business office, and dental hygienist. Christina’s extensive knowledge of the front office and clinical procedures is a great asset, and she loves to impart her knowledge to guide dental teams do the best they can to achieve a Better Practice, Better Life!