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This week on Shared Practices see’s the return of Dr Olya Banchik, Dr. Banchik is on the forefront of cosmetic dentistry and studied at the world-renowned Las Vegas Institute for Advanced Dental Studies, where she has completed numerous courses in the most advanced techniques of aesthetic dentistry and treatment of temporomandibular disorders. Recently Olya moved from Vegas to North Carolina to start her new practice and we catch up with her to discuss all of the recent developments.
For the third instalment of Richards interviews with Olya, we initially focus more on the obstacles that she faced starting her practice from scratch. More of a what to avoid episode as opposed to the last few weeks. Once again, Olya tells some funny anecdotes about some issues she encountered early on and we cover a massive range of topics. Such as : Early infrastructure problems, time allocation, getting set up with insurance, marketing tips, expectations versus reality and later on we cover what drove Olya to go from clinical dentistry to where she is now.
Banchik Dental – http://www.banchikdental.com/about/meet-dr-banchik
Reafield Dental – https://reafielddental.com/
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00:00 – 00:23 Episode intro with Richard.
02:39 – 05:00 How people have been responding to the episodes with Olya.
05:01 – 11:20 The process of choosing a location and balancing opportunity with lifestyle
11:21 – 17:40 Olya goes over some obstacles she encountered when starting her practice from scratch. (infrastructure, mail, internet and finance)
17:41 – 19:26 A reminder to not forget the basics when focusing on big picture problems.
19:27 – 21:35 The cart measurement catastrophe.
21:36 – 23:33 Allowing yourself the proper time to establish your systems can be tough.
23:34 – 30:36 What Olya learned about verifying insurance, getting credentialed and third-party admins.
32:37 – 35:45 Some of the areas that Olya chose to spend a bit more of her budget on. (construction, equipment and staff)
35:46 – 37:26 What marketing techniques worked for Olya.
37:27 – 39:37 Getting exposure in local publications and how to go about it.
39:38 – 41:30 How Olya’s first year is shaping up compared to her expectations.
41:31 – 45:42 Going from clinical dentistry to helping dentists in practice transition.
45:43 – 53:56 Deciding if practice ownership is for you.
53:57 – 56:38 Charging hourly versus a percentage or flat fee system
56:39 – 59:59 At what point should someone reach out for consultancy for practice transition.
1:00:00 – 1:02:17 Interview conclusion and episode outro.
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