{"id":14947,"date":"2025-05-16T09:30:14","date_gmt":"2025-05-16T16:30:14","guid":{"rendered":"https:\/\/www.planetdds.com\/?post_type=resources&#038;p=14947"},"modified":"2025-05-16T09:30:16","modified_gmt":"2025-05-16T16:30:16","slug":"mike-white-on-how-dsos-can-unlock-hidden-profits","status":"publish","type":"resources","link":"https:\/\/www.planetdds.com\/resources\/mike-white-on-how-dsos-can-unlock-hidden-profits\/","title":{"rendered":"Mike White on How DSOs Can Unlock Hidden Profits"},"content":{"rendered":"\n<p>In the DSO world, as in life, financial disappointment can jeopardize growth, making a strategic and realistic approach to profit-making crucial to secure financial health for your business. In the latest episode of <a href=\"https:\/\/www.youtube.com\/watch?v=UjnqCtfwbus&amp;list=PL8sPE8UqEy5i-ReuTOqL_BFzw0VAOucuT\" target=\"_blank\" rel=\"noreferrer noopener\">The Dental Economist Show<\/a>, host CRO Mike Huffaker of <a href=\"https:\/\/www.planetdds.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Planet DDS<\/a> welcomes Mike White, Principal at <a href=\"https:\/\/www.claconnect.com\/en\/\" target=\"_blank\" rel=\"noopener\">Clifton <\/a><a href=\"https:\/\/www.claconnect.com\/en\/\" target=\"_blank\" rel=\"noreferrer noopener\">L<\/a><a href=\"https:\/\/www.claconnect.com\/en\/\" target=\"_blank\" rel=\"noopener\">arson Allen<\/a>, to explore why proper financial fundamentals are crucial for practice growth, how to position your group for successful transactions, and key strategies for maximizing practice value.\u00a0<\/p>\n\n\n\n<p><strong>What you\u2019ll learn:&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>How to establish proper <a href=\"https:\/\/www.planetdds.com\/resources\/planet-dds-financial-guide-for-cfos-and-dsos\/\" target=\"_blank\" data-type=\"resources\" data-id=\"14465\" rel=\"noreferrer noopener\">financial foundations<\/a> and reporting structures to bolster growth<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Why standardized financial reporting and consistent <a href=\"https:\/\/www.planetdds.com\/resources\/eric-pastan-on-using-data-for-operational-success\/\" target=\"_blank\" rel=\"noreferrer noopener\">data management<\/a> directly impact practice valuation<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The &#8220;Multi-Site Financial Framework&#8221; for managing finances across multiple locations effectively<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>How to avoid common financial pitfalls that can derail practice transactions or <a href=\"https:\/\/www.planetdds.com\/resources\/craig-abramowitz-on-building-lasting-dental-partnerships\/\" target=\"_blank\" data-type=\"resources\" data-id=\"13892\" rel=\"noreferrer noopener\">partnerships<\/a><\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Why integration of <a href=\"https:\/\/www.planetdds.com\/denticon\/\" target=\"_blank\" data-type=\"page\" data-id=\"56\" rel=\"noreferrer noopener\">practice management<\/a> and accounting systems is crucial for scalable growth<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Why maintaining clean financial records can increase practice valuation by millions at scale<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>How to leverage financial data to make informed operational decisions and drive practice efficiency<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The importance of building a strong advisory team for sustainable practice <a href=\"https:\/\/www.planetdds.com\/resources\/18-tips-to-increase-same-store-growth\/\" target=\"_blank\" data-type=\"resources\" data-id=\"13203\" rel=\"noreferrer noopener\">growth<\/a><\/li>\n<\/ul>\n\n\n\n<p>Tune in for a masterclass in keeping one\u2019s DSO financial house in order\u2014a foundational business priority that can make or break your practice.&nbsp;&nbsp;<\/p>\n\n\n<p><iframe loading=\"lazy\" title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/UjnqCtfwbus?si=cC79aazIW7rH_UGs\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n\n\n<h2 class=\"wp-block-heading\">Episode Highlights<\/h2>\n\n\n\n<p>In this episode, Mike Huffaker welcomes Mike White for a deep dive into the absolute nature of getting one\u2019s financial fundamentals right. Here are some highlights from the show:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The foundation of financial success<\/h2>\n\n\n\n<p>Mike White emphasizes that treating bookkeeping as an afterthought is costing dental practices millions in unrealized value. Financial fundamentals are crucial for driving performance, requiring integration of <a href=\"https:\/\/www.planetdds.com\/blog\/dental-practice-analytics\/\" target=\"_blank\" data-type=\"post\" data-id=\"11610\" rel=\"noreferrer noopener\">analytics<\/a> and software tools to provide actionable insights. Many practice owners limit themselves by only engaging with their CPA annually for tax returns, missing opportunities for strategic guidance throughout the year. <\/p>\n\n\n\n<p>Implementing robust financial tracking and regular professional oversight can help identify efficiency gaps and negotiate better vendor contracts. For <a href=\"https:\/\/www.planetdds.com\/newsroom\/2025-dental-industry-outlook-reveals-key-trends-for-dsos-and-multi-location-practices\/\" target=\"_blank\" data-type=\"newsroom\" data-id=\"14395\" rel=\"noreferrer noopener\">multi-location<\/a> groups, proper financial management becomes even more critical as you scale, directly impacting practice valuation and operational success.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Maximizing value through financial clean-up\u00a0<\/h3>\n\n\n\n<p>Mike suggests that a systematic approach to financial organization can dramatically increase practice value, as demonstrated by a case where proper bookkeeping added $35 million to a practice&#8217;s valuation. Practice owners often incorrectly categorize expenses and miss opportunities to capitalize assets, leading to understated EBITDA calculations. Simple improvements like negotiating supply costs down from 8% to 5% and optimizing payment processing fees can significantly impact <a href=\"https:\/\/www.planetdds.com\/blog\/top-ways-dsos-can-drive-profitability-2025\/\" target=\"_blank\" data-type=\"post\" data-id=\"13735\" rel=\"noreferrer noopener\">profitability<\/a>. Strategic financial management includes proper allocation of expenses across locations and understanding how to present financials for maximum value.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Strategic growth planning<\/h3>\n\n\n\n<p>Business owners must clearly define their vision before pursuing growth, as the path to 100 locations versus maintaining a profitable smaller operation requires very different strategies. Building the right team of advisors and partners early is crucial for executing your chosen strategy effectively. The key is aligning your growth plans with your personal goals and lifestyle preferences rather than following industry trends blindly. Successful practices come in many sizes, from the two-day-a-week solo practitioner earning $2M to the hundred-location DSO.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The power of replicable systems<\/h2>\n\n\n\n<p>Investors look for practices with clearly defined, replicable operating models that can scale efficiently. Having standardized systems across practice management, accounting, and <a href=\"https:\/\/www.planetdds.com\/client-stories\/denticon-streamlines-operations-for-west-coast-dental\/\" target=\"_blank\" data-type=\"client_stories\" data-id=\"11194\" rel=\"noreferrer noopener\">operations<\/a> makes your organization significantly more attractive to potential partners or buyers. Technology integration and data analytics capabilities are now essential components of practice value creation. Documentation of successful processes and proof of consistent execution across locations demonstrates scalability potential.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">About The Dental Economist Show<\/h2>\n\n\n\n<p>Don\u2019t miss insightful conversations with industry experts on the latest trends and top strategies to grow your DSO or dental business. Tune in to <a href=\"https:\/\/www.youtube.com\/@planetdds8605\/podcasts\" target=\"_blank\" rel=\"noopener\">The Dental Economist Show<\/a> each week as we meet at the intersection of profit and purpose.<\/p>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.planetdds.com\/book-a-demo\/\">Learn More<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the DSO world, as in life, financial disappointment can jeopardize growth, making a strategic and realistic approach to profit-making crucial to secure financial health for your business. In the&#8230;<\/p>\n","protected":false},"featured_media":14948,"template":"","categories":[54,8,80,1427,128,1416,88],"tags":[1314,13,43,1460,169,132,57,147,152],"resource_type":[1336],"class_list":["post-14947","resources","type-resources","status-publish","has-post-thumbnail","hentry","category-cloud-software","category-dental-cloud-technology","category-dental-industry","category-dental-service-organization","category-dso","category-growth","category-planet-dds","tag-dental-groups","tag-dentistry","tag-dso","tag-finance","tag-growth","tag-operations","tag-planet-dds","tag-practice-management","tag-technology","resource_type-podcast"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.planetdds.com\/wp-json\/wp\/v2\/resources\/14947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.planetdds.com\/wp-json\/wp\/v2\/resources"}],"about":[{"href":"https:\/\/www.planetdds.com\/wp-json\/wp\/v2\/types\/resources"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.planetdds.com\/wp-json\/wp\/v2\/media\/14948"}],"wp:attachment":[{"href":"https:\/\/www.planetdds.com\/wp-json\/wp\/v2\/media?parent=14947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.planetdds.com\/wp-json\/wp\/v2\/categories?post=14947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.planetdds.com\/wp-json\/wp\/v2\/tags?post=14947"},{"taxonomy":"resource_type","embeddable":true,"href":"https:\/\/www.planetdds.com\/wp-json\/wp\/v2\/resource_type?post=14947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}