You might think your profit margin is healthy. But is it, really? In this episode of Metric Mondays, Kirk Behrendt brings back Dr. Barrett Straub, ACT’s CEO, to break down gross profit percentage, the real health indicator of your practice. To learn what a good profit margin looks like and how to start improving yours, listen to Episode 871 of The Best Practices Show!
Learn More About Dr. Straub:
Learn More About ACT Dental:
More Helpful Links for a Better Practice & a Better Life:
Episode Resources:
Main Takeaways:
Snippets:
0:00 Introduction.
0:55 Gross profit percentage, defined.
5:17 Why this is an important topic.
7:30 Know where every dollar of production goes.
10:01 Loans don't show up on a P&L.
12:09 Final thoughts.
Dr. Barrett Straub Bio:
Dr. Barrett Straub practices general and sedation dentistry in Port Washington, Wisconsin. He has worked hard to develop his practice into a top-performing, fee-for-service practice that focuses on improving the lives of patients through dentistry.
A graduate of Marquette Dental School, Dr. Straub’s advanced training and CE includes work at the Spear Institute, LVI, DOCS, and as a member of the Milwaukee Study Club. He is a past member of the Wisconsin Dental Association Board of Trustees and was awarded the Marquette Dental School 2017 Young Alumnus of the Year. As a former ACT coaching client that experienced first-hand the transformation that coaching can provide, he is passionate about helping other dentists create the practice they’ve always wanted.
Dr. Straub loves to hunt, golf, and spend winter on the ice, curling. He is married to Katie, with two daughters, Abby and Elizabeth.