Ep #92: Creating a Secondary Revenue Stream and Increased Production in Your Practice with Dr. Bruce Baird
It’s back to our dentistry roots this week on Dentist Freedom Blueprint! Dr. Bruce Baird joins us to talk about the practice-changer that is comprehensive patient financing. He and former partner Dr. Jeff Buske also share how finance can open up a second revenue stream for your practice, along with other benefits.
Bruce is a dentist specializing in full-mouth restorative care and a well-known productivity expert. He’s been working to help other dentists achieve success since 1990, in part through his Productive Dentist Academy, established in 2004. Now he’s turned his sights on helping patients and dentists through patient financing.
Bruce talks about how he and Jeff established Comprehensive Finance and the benefits it has brought dentists and patients alike. He also walks us through the numbers and process of setting a patient up with financing so that they can get the treatment they need. To top it off, Jeff shares some excellent advice about how to increase revenue and boost your marketing portfolio by bringing on associates at your firm.
Click “play” below to listen in…
- 3:07 – How Bruce and Jeff came up with the idea for the patient financing business.
- 5:47 – The boost in production and revenue that many dentists see after adopting patient financing.
- 7:39 – Bruce walks us through the numbers, and what financing looks like from both patient and doctor perspectives.
- 10:42 – Why so many patients choose to get just one crown when they need several, and how financing can help fix this problem.
- 12:59 – How Bruce’s financing business grades patients on a letter scale to determine their interest rates.
- 14:12 – What dentists and their staff need to get set up with patient financing, and how Bruce and company help them prepare.
- 16:04 – How Bruce navigates the tricky business of collecting from patients.
- 17:46 – What Bruce does if a patient really can’t pay back their financing.
- 20:15 – Why the fear of patients defaulting shouldn’t discourage you from setting up patient finance.
- 20:31- How the comprehensive financing model looks and works in the office for both staff and patients.
- 22:01 – Jeff Buske’s insight on how to determine formulas for compensating associates at your practice.
Featured on the Show:
- Connect with Bruce: Comprehensive Finance | 866-964-4727
- Jeff Buske
- Vicky McManus | Productive Dentist Academy
- Gordon J. Christensen
- Care Credit
- The Lending Club
Get the Full Episode Transcript: