815: The Profitable Practice Paradox: Growing Without More Chairs – Miranda Beeson

We’re taught that growth is good. But if you don't grow smart, you could be growing more while making less! To explain this paradox and help you become profitable, Kirk Behrendt brings back Miranda Beeson, ACT’s director of education, to explain how to increase profitability without adding more chairs, more hours, or more stress. To learn how to make your practice better, not just bigger, listen to Episode 815 of The Best Practices Show!

Learn More About Miranda:

• Send Miranda an email: miranda@actdental.com 
• Follow Miranda on ACT’s Instagram: https://www.instagram.com/actdental
• Send Gina an email: gina@actdental.com 

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 815: https://www.youtube.com/@actdental/videos
• Read Miranda’s blog, Mastering Collections: How to Achieve 100% Financial Goals for Dental Practices: https://www.actdental.com/blog/mastering-collections-how-to-achieve-100-financial-goals-for-dental-practices

Main Takeaways:

• Define what growth means for you.
• Focus on making your practice better, not bigger.
• Understand your write-offs, collections, and overhead.
• Growth for the sake of growth will wear your practice thin.
• Maximize your existing resources! You don't need to add to grow.
• You can grow your practice by collecting more of what you produce.

Snippets:

0:00 Introduction.

0:49 ACT’s To The Top, BPA, and Pro Coaching.

5:30 Why this is important.

14:35 Understanding write-offs: Insurance adjustments.

25:53 Understanding write-offs: Membership plan adjustments.

27:39 Understanding write-offs: Elective adjustments.

32:25 Collect what you produce.

36:40 Understand overhead.

44:57 Where did all my money go?

54:44 Final takeaways.

Miranda Beeson, MS, BSDH Bio:

Miranda Beeson has over 25 years of clinical dental hygiene, front office, practice administration, and speaking experience. She is enthusiastic about communication and loves helping others find the power that words can bring to their patient interactions and practice dynamics. As a Lead Practice Coach, she is driven to create opportunities to find value in experiences and cultivate new approaches.

Miranda graduated from Old Dominion University, and enjoys spending time with her husband, Chuck, and her children, Trent, Mallory, and Cassidy. Family time is the best time, and is often spent on a golf course, a volleyball court, or spending the day boating at the beach.