The Most Important Number in Dentistry

Lee Pennington is a CPA who has been providing tax and accounting services to clients for over 20 years. After the recession hit in 2007, Lee’s CPA company that focused primarily on construction saw a massive decrease in clientele. It was then that Lee decided to broaden his horizons into the physician space and then eventually the dental space as well. In this episode, host Jon Harris and colleague Lee Pennington engage in a lively discussion about the most important number in dentistry according to a Certified Public Accountant. 

Lee reveals what dental practices struggle with the most: turnover. Lee explains that employees will stay if they receive clear and helpful training, fair treatment from superiors, and a positive work environment. Unfortunately, dental practices have been losing employees and Lee believes a major reason is the mindset of the owners. If an owner has a positive mindset and breeds a healthy work environment, employees are more likely to stay and be happier with their pay. 

Tune into this week’s episode of 21st Century Dentistry for a conversation with Lee Pennington. Learn more about Lee’s career path that led him to the dental space, investing in your workers, and what benchmark data can tell you about your business. 

 

Quotes 

• “I have a great group of people that I work with, and we really have grown our dental practice area very significantly over the last four years.” (25:53-25:58) 

• “What I enjoy doing is the interaction with people I work with. I like working with the doctors directly and I feel like that's what they are paying me for is for my advice. They don't need me sitting in the office doing crunching numbers for them.” (28:35-28:50) 

• “One thing that I tell clients all the time is, it's not for me to make the decision for you, it's my job to educate you, to give you options for what you would do.” (33:12-33:21) 

• “The number one issue across the board that I see with clients of all types is employee relationships.” (57:12-57:19) 

• “With dentists, as they approach the end of their career, they get a little bit too comfortable and complacent with what they have. That reflects when they're ready to sell their practice as well. But if you want to have a successful practice or successful business of any type, it's about investing in people.” (58:15-58:35) 

 

Links

https://www.cpapennington.com

 

Connect with Jon Harris on Facebook:

https://www.fortunemgmt.com

https://www.facebook.com/jon.harris.39545

https://www.facebook.com/fortunemgmtmidsouth

https://www.facebook.com/fortunemgmtgeorgia

 

Follow Jon on Instagram: 

@jonharris_ 

@21stcenturydentistry

 

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