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They used to say that cash is king. But now, cash flow is king, not just cash. Recurring revenue today is the best thing you can do for any business!
In this episode, Naren and Jordon discuss why recurring revenue matters for a dental practice and how recurring revenue can positively impact the dentist and team members’ lives.
In dentistry, we create recurring revenue by offering a dental membership plan. Through a dental membership plan, you can offer many types to both your insured and uninsured patients.
They further discuss how recurring revenue helps you deal with the feast and months in dentistry, how it enables you to deal with recessions, and how it increases the value of your practice!
Listen to this episode to find out 7 reasons why recurring revenue is essential for your dental practice.
- 00:00:30 – Introduction to the episode
- 00:00:42 – How to create recurring revenue?
- 00:01:56 – Why recurring revenue is important for your practice
- 00:03:30 – Relationship between cash flow and automatic revenue
- 00:05:38 – How to manage Feast and famine months in dentistry
- 00:09:50 – Recession and membership plans
- 00:13:17 – How recurring revenue affects your lifestyle
- 00:15:14 – Increasing your practice value
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Category: Dental Growth Domination Podcast