Do’s and Dont’s of Practice Expansion – Dr. Zientz
- Name of sponsoring organization: Dental Practice Management Club & Aesthetics Society
- Details of the activity (e.g., where, when): Wednesday, January 22 at 12-1 in Lecture Hall A
- What you learned: I gained insightful knowledge about both the financial & practical aspect of running ones own practice. Dr. Zientz outlined profit & loss spreadsheets as a key resource he uses to outline the money thats coming in from patient and insurance payments versus the money that goes out (i.e. labs, supplies, rent, salaries). He explained how P&Ls can vary considerably depending on if your a new grad, an associate, or a solo doc along with your % overhead. Moreover, being an owner of 3 practices, he had great tips such as prioritizing the growth and expansion of one location before trying to buy more locations as it doesn’t necessarily correlate to more money. In other words, several small practices are not a smart idea!
- How the activity relates to coursework or your career goals: Given my interest in practice ownership, Dr. Zientz’s presentation was extremely insightful in providing the foundational knowledge I would need to actually start thinking about this more earnestly.