You buy cheaper cotton rolls and the cheapest gloves. But your operational overhead is still too high! In this episode, Kirk Behrendt brings back Miranda Beeson, ACT’s director of education, to continue the series on overhead and break down operations percentage. Buying cheap supplies won't help your practice! To learn about the hidden costs that are impacting your overhead, listen to Episode 985 of The Best Practices Show!

Learn More About Miranda:

1. Send Miranda an email: miranda@actdental.com
2. Follow Miranda on ACT’s Instagram: https://www.instagram.com/actdental
3. Send Gina an email to learn more about ACT: gina@actdental.com

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

1. Subscribe to The Best Practices Show: https://the-best-practices-show.captivate.fm/listen
2. Join The Best Practices Association: https://www.actdental.com/bpa
3. Download ACT’s BPA app on the Apple App Store: https://apps.apple.com/us/app/best-practices-association/id6738960360
4. Download ACT’s BPA app on the Google Play Store: https://play.google.com/store/apps/details?id=com.actdental.join&hl=en_US
5. Join ACT’s To The Top Study Club: https://www.actdental.com/ttt
6. Get The Best Practices Magazine for free: https://www.actdental.com/magazine
7. Please leave us a review on the podcast: https://podcasts.apple.com/us/podcast/the-best-practices-show-with-kirk-behrendt/id1223838218

Episode Resources:

1. Watch the video version of Episode 985: https://www.youtube.com/@actdental/videos
2. Learn more about Smile Source: https://smilesource.com

Main Takeaways:

1. Your operational overhead should be around 8%.
2. It’s not just about reducing your spending. Close your effort gap!
3. When operational costs aren't monitored, they can slowly creep up.
4. If possible, look into negotiating and lowering your bank or merchant fees.
5. Regularly audit subscriptions, software, and service contracts for unused tools.
6. Review your spending. Is everything critical for patient care and revenue support?
7. Look for supply waste, redundant subscriptions, unmanaged vendor costs, blind spots.

Snippets:

0:00 Introduction.

1:06 Operations percentage, explained.

2:49 How this percentage impacts your practice.

8:28 What you can do to impact this metric.

15:15 Last thoughts.

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.