142: Accrual Accounting Part 3 -The Almighty Balance Sheet

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You have this natural talent, this unique ability. Hello everyone and welcome to another episode of DSO Secrets. I am thrilled to finally have CFO Holly Williams and CFO Mike Williams back on the show for part three of of our five part series that I'll talk about in just a second. But Mike and Holly, welcome back.

Thank you.

Thank you.

I am excited. I don't know about you guys, but I've gotten so many questions about Ken. When is episode three coming? When is part three of this Cash to Accrual series coming back? I think you guys have heard some of the same chatter.

Yep, for sure.

All right, so for those of you that are just tuning in and missed, I went ahead and pulled up for your reference. If you go back to episode number 132, it is accrual accounting part one. And it's where Mike and Holly and I jump in and talk about why you need to make conversion to accrual accounting as well as what the best timing is when you should consider doing it. If you then jump ahead to episode 134, that will take you to accrual accounting part two. And this is where we focus on all of the impact on the profit and loss statement that occurs when you are making that shift to accrual accounting. Which means today we're going to be talking about here in part three, the almighty balance sheet. And one thing that we just have to set the record straight right from the beginning so everybody understands. And for those of you who are not accountants, which I hope most of the people listening are not, there's a lot of dentists listening in. The balance sheet is absolutely critical to create accuracy in your financial statements. Without the balance sheet, you are going to be in a lot without focusing on the balance sheet, without making sure those things are tied out and reconciled. And I'm not asking you to do it. You have accountants and you have other people hopefully working with you that know how to do all of this and tighten it Down. But the balance sheet is what drives your ability to look at that profit and loss or income statement and really understand what's happening in your operations. My colleague or Holly, why don't you go first about just the importance of the balance sheet and why it's so critical?

Well, what I actually have found is pretty useful when you give the analogy of what the balance sheet is. It's a picture or a snapshot in time of what you have and what you own and who you owe and what you owe. And so if you have $100 worth of cash and you owe someone $200, and your balance sheet is lopsided. But if you have $200 in cash and you owe only $100, then you have value in your company, and then the profit and loss statement. So if your balance sheet is a snapshot at the beginning of the year and at the end of the year of what you have and who you owe, then your profit and loss statement is kind of the movie reel between the two periods in time to tell you what happened.

That's a great analogy, Mike. Anything else to fill in there?

Yeah, I think, you know, it's for any. Anybody of my age, maybe we're Paul Harvey fans. You know, the balance sheet tells the rest of the story. You know, the income statement is great, and it shows what you know, what you build, what expenses you've brought in. But, you know, to kind of echo on what Holly said, if you build out $500,000, but you've only collected 50,000 of it, then the other 450,000, it has no worth. I mean, you can't spend it. You can't take it to the bank. You can't do anything with it. Well, the balance sheet tells you, look, you've still got this other money sitting out there that you still have work to do. And I think that's what a lot of people, they forget about the balance sheet, that it really does tell you the rest of the story.

So as we start to dive in now, we're going to unpack the balance sheet and why it is so critical to the. To having accurate financial statements using the accrual accounting methodology and thought process. Remember, the number one thing we're trying to address when it comes to revenue recognition is you can't care about when you get paid. When you get paid is not how you book revenue recognition. According to accrual accounting. It has everything to do with what services were provided in each period. Now, you ultimately care about getting paid. We're not saying you want to collect every dollar that you possibly can, and you deserve to, because you've done all of the work and provided all of those amazing services to your patients. But the key thing here is that you have to know when the services were provided, and then you ultimately will track and make sure that you collect everything that you can. But we're recognizing in this month the revenue that represents the work that you did during this month, not what you got paid for. Yet there's a lot of focus in dentistry around collection, collection, collection. Mike, I know you have discussions with providers regularly, and, Holly, you do as well. Maybe could you share your perspective about why there has to be so much focus on what did we actually do this month, not what did we collect this month and why we spend so much effort to present our financial statements this way.

Yeah. So, I mean, obviously from the physician point of view, in our setting anyway, we still pay based on collections. So to the doctor, that's. That's really the only number that matters to them. You know, until. For. Until something happens and collections dip off, then that number that went out the door is super important to them. Well, you know, that's the conversation I have with the doctors, is we need to know what you did. We need to capture all of those services you did. Because, you know, if we don't capture them, if we just focus on the collections, then you're going to see ultimately a dip in collections. You're going to see cash flow drop off, which is going to affect not just your compensation, but the ability to pay the bills. Because if you're not capturing that work appropriately for those braces, those fillings, those implants, we still have to pay for all the materials you use to put in those mouths. Now, we need to make sure that we're tracking what we're charging for. We're capturing all those services, and then the collection will come after the fact, but we've got to make sure we get it on books on the balance sheet.

Awesome. Holly, your perspective on that?

Pretty much the same. One of the big benefits that we've already talked about is if you're recording everything based on the data service and you're really paying attention to the services that were provided, and then you're following up on the collections and writing things off, or, you know, either collecting it or writing it off with specific codes, then you can kind of tell operationally what you can do to improve your collections. But if you're ignoring it, you lose that opportunity to make improvements.

Outstanding. Outstanding. Okay, so let's go ahead and jump in, then the primary place where we are going to be spending a lot of time on the balance sheet when it comes to revenue recognition and getting that right on the income statement is the area of accounts receivable. And you generally have your cash and cash equivalents at the top of the balance sheet. And then you have your current assets. And in dentistry, the largest current asset we have is usually our accounts receivable. So we have accounts receivable and then we have contrast accounts that are reducing that receivable down to a net number. That's where we're going to focus most of our time. We'll spend a little bit of time on the, on the liability side. But to be clear, our AR balances, it's super important to look at them and understand them on a location by location basis. That's what allows us to be able to location by lotion, location, have the accurate income statement. And we also want to look at our different specialties and the different services we provide in sometimes different buckets. Mike, you talked about, or I think maybe Holly, it was you, you talked about AR being separated between general dentistry and ortho. Was that you or was that Mike?

That was Mike, yeah.

Oh, Mike. So go ahead and walk us through. Why do you break those two out and why is that so important?

Yeah, but I mean, and again, I know it jumps ahead a little bit because they're treated differently in our scenario. I mean, obviously Ortho, a lot of our general dentistry services, they're kind of encounter based fees. You come in, we'll do a filling, we're done. You come in, we'll do a root canal, you're done. You know, it's an encounter. We send you a bill, you pay your portion insurance, pays theirs and we move on. Whereas ortho, it could be a two year plan, but it's incremental and to the point. You said earlier, even though we're sending out those charges, we don't, we're not, we've not earned all of that revenue yet. You know, we may tell you, okay, we're going to do a set of braces and they're going to be $1,000. Well, we've not earned that thousand dollars realistically until we take the braces off. And so we've just kind of carved the ortho piece off into its own bucket because we do our reserve calculations differently, we're tracking payment plans differently. You know, in our general Dentistry, we really don't have payment plans. I mean, because again, it's encounter based where on our ortho, almost every case is some version of payment plan, even if it's maybe a care credit or whatever. So we've just determined they're different enough in the makeup of what they are that we just handle them differently.

Okay, great. And Holly, explain to someone what is an account receivable? What exactly is this that's being recorded? And let's, let's set that baseline and if you can put it in the context of dentistry, because you're often really great at doing these types of analogies. If you could share one here so our listeners can get up to speed on that.

Well, absolutely. So, you know, if you have a patient that comes in for a cleaning and then they also have a filling or, you know, maybe they don't do both in the same day because you can't, but, because you don't have, you know, but the, if they don't pay their portion of the bill and you, you told them, we're going to bill your insurance and then we'll bill you for your portion. You are recording what they that service that day. And when you send that bill to the insurance company, it becomes a receivable to you. You may not collect everything, you know, because you may have contractual adjustments. And so you need to kind of understand what that, you know, reserve would look like, but that is what you're putting into your accounts receivable bucket at that moment.

All right?

So it represents basically services provided that you're still waiting to be paid for. And it could be that you're waiting to be paid by an insurance company, or it could be you're waiting to be paid by the patient themselves or whoever the guarantor is for the patient. And then there's another category here, which is the stuff that you're not going to end up collecting for any number of reasons. And what happens here is the way that this hits the balance sheet is we have the accounts receivable. Is everything out there that's potentially due to you. And then we have these contra accounts, which are negatives that reduce the AR balance down based on, well, okay, how much of that do we think the patients aren't going to pay? How much of that do we think we're not going to collect from the insurance company? So let's break this down for a second, and why don't we talk about the patient side first? There are several, several reasons why we may not end up getting paid everything that we initially charge or we eventually end up billing to the patient. Mike Anything come to mind for you? A place where you guys are having to reserve or lower your expected collections against this receivable?

Yeah, maybe a good example is an insurance benefit verification issue, you know, where, you know, like for instance, we're in a growth mode like I know we all are, but maybe a site where the, the, all the policies and procedures aren't followed exactly right yet, you know, and so we're not asking the right questions when we're calling the insurance company. So even though we, we feel like we've done everything procedurally right, you know, maybe it's something that the patient didn't have coverage for or you know, you mentioned the example of we didn't wait six months, you know, we're at five and a half months and the coverage provided for every six months. So we've done the work, no problem at all with the work, patient's happy. But we've not met the administrative burdens of the insurance and we know it's going to happen. No matter how hard we try, it's going to happen. And so you just set a reserve of maybe, you know, make up a number 2% of charge for this particular payer that you're going to just hold back just to make sure that balance sheet is more appropriately accurate.

Great. Holly, any other examples come to mind for you?

Well, I mean, I think sometimes you have to be realistic about whether your patients will actually pay you their portion. So you may have done everything correct and you may not have a contractual write off on a patient account. If you have the policy of collecting co pays or patient portions at the time the service is provided, then your probably going to have less bad debt from patients. But if you've chosen not to have that policy in your office and you really want to take the approach of we're going to bill the insurance company and then we'll bill you your portion. There's a portion, a certain element of patience that will just take that bill and not pay it. And I think your history will tell you kind of, you know, what that looks like and you should always reserve. So Maybe you're at 2% or 1% in history and you should always reserve that amount going forward because similar to the P and L we talked about getting revenue right in the month of service where we want to say, you know, if you bill $1,000 and you really think you're going to collect 800, you have a reserve of $200. That $200, that's where it's sitting is on that balance sheet. Reserve the other side of it. So you always want your accounts receivable net balance to be a true number that you really think you're going to collect.

That's great, great insights here as both of you were sharing those examples. Just thinking about the pain on the insurance verification side, like you were talking about, Mike, that the patient has when they get that balance. Bill, even if your office is functioning flawlessly in this area, there still ends up to be miscommunications and challenges around this. I've just never seen an office, a dental practice, execute flawlessly on this. And it's painful. It's painful for the pat, it's painful for whoever has to get the call from the patient when they thought they had settled up with you at the time of service. And, you know, it's a difficult place. So insurance verification, if you invest there, you know, let's say that you're losing 2% of all of your services, that you're providing all the revenue on that as a result of this. And you could figure out for half a percent how to have somebody sitting at the front desk or a centralized team that was making these phone calls, you can start to justify an investment. And those are dollars that, I mean, those are real, those are collectible. And so long as we feel like, hey, we can, we can get this right when the patient comes in and before they leave, get settled up on. So any, any takes on that. Have either of you had experiences trying to build out this verification process?

So, Ken, not only does it make the dollars for that day collectible, you know, so if you're spending, you know, half a percent on a person who's in charge of insurance verification, don't forget that it also helps your patient retention.

Yep.

Oh, that's right. Because of that frustration level, when they get that balance, Bill, they start saying, hey, I've got other options.

I'll tell you, I mean, myself, I have been one of those patients that will not go back to an office that is not a clean, not well run, let's put it that way.

Well, Holly, that was before you were in dentistry. We've ruined you now. Your standards are just far too high.

Well, and the other thing too is, I mean, we're in a day of social media and online reviews and I mean, it's a cliche, but it's cliche because it's true. If you have that bad experience, you're going to tell everybody that will listen that you've had a bad experience. And so it's not just that patient that you've lost, it grows.

Yeah, it's a great point. The culture, the practice, the overall experience and feeling that a patient walks away with is so, so important for retention. Okay, so we have these two areas. There's, there's this reserve for the part of the receivable that we think or that is related to the patient portion that we think we might not get paid. And we can figure that out by going backward and looking and seeing what our trends have been. The other part of this is the stuff that we think insurance is going to pay, but they don't for some reason. I can, I'll go ahead and kick this one off. The example that we find the most frequently, and I'm saying this as a little bit of a pun, is frequency. So when the insurance will pay for, say, a pan to be done, a pan image to be taken once every two years, yet our doctor needs a pan done one year into the relationship because he or she feel like, hey, I need to get a better diagnosis here, I have some treatment that needs to be done and I need to double or triple check on a few things before I move forward with that, with those procedures. This is one where you just probably sometimes aren't going to get paid. And we found an organization. We're generally good. The doctors generally know, hey, if I need to take an X ray, I'm going to take an X ray. And if we don't have getting paid on it, then because of a frequency hit on the, you know, the way that the claims get adjudicated, we're okay with that because it means we're doing the best we can to take the best care of the patient that we can. That's, that's generally the philosophy that we use inside of organization. But this is one where when you send it out, you may not realize that you violated some frequency rule. You think you're going to get paid on it. The whole amount is in your ar, but that portion of the claim that you're going to get dinged on for frequency is going to get denied when that EOB, when it's adjudicated and that EOB comes through. Holly, what experiences have you got on this? Places where you guys find you have insurance write offs.

So one of the big areas that we have to watch out for, and I think you're familiar with too, because we do have a high Medicaid population that we serve, is the change of provider. And the change of provider should never happen. That's something that we actually do communicate out to our Offices and have a very high standard. But it does happen, it does get through. That one is a completely controllable write off because we do like to look at our write offs or our adjustments by whether or not they're controllable and can we make improvements in our process or are they not controllable? We have the same thing in our practice that you do, Ken, with frequency. Sometimes the doctors just need the image. We do not tell our doctors not to take images. If they need that for treatment, they need it for treatment. Treatment, exactly.

That's really well said. Mike, how about you? What types of things do you see where insurance is that that total AR isn't being collected because something's not getting paid due to the insurance relationship?

Yeah, I think you touched on it. I mean, I think, you know, frequency is one, I think credentialing is another. That's, that's a big, a big issue. I mean you think a physician is on board with a certain site, with a certain payer. You submit the claim under every bit of good faith and then it comes back that something has happened with the physician credentialing. And I mean sometimes you can fight the fight and get that backdated or whatever, but about nine times out of ten that money's just gone.

That's, that's a really great point again because we initially book it like, hey, we're going to get paid on all this because it's our, in our receivable and that's getting booked as revenue recognized. And then we find out later, oh, there's a fair amount of money here that we're, that's going to have to be written off. So you're part of the reserving process is you're reserving thinking in case there's a credentialing issue. We want to cover for that.

Well, can we make sure we're pointing out that the reserve is on the balance sheet. So the claim is still in your practice management system and you haven't written the claim off, you're just on your balance sheet, you're just putting dollars there as an alert that I might not collect this. And so it's very different than going in and actually like you know, saying, oh, I'm not going to collect it and write off the claim. It's still alive, you're still trying to collect it. But when you do have to write it off, you're not hurting your P and L. The month that you decide you have to write it off, it actually was already kind of allowed for. Already in the month when you did the service.

That's right. And maybe if we just go back and reset, then if I was on cash basis, what would happen is if it's the month of April and I worked all month and then it turned out that I wasn't credentialed, I wouldn't know about that in April because in April I'm collecting everything from March and from February and what happens. And I wouldn't find out about it, at least in terms of it wouldn't show up on my financial statements until the next month when I would normally be collecting my April. So your May and your June, when you're collecting everything from April, services provided and all of a sudden your financial statements go down. The beauty of accrual accounting is that you would see that, catch it, you would book it in that month and yes, it hurts, but your revenue would be reflected in a way that it would be captured there and it wouldn't be trickling and spread out and you're unsure about what's really going on in the future months. Again, that's just one of the many powerful applications and why we talk about accrual accounting is accurate accounting. It means we're properly representing in each month what's actually happening, not what cash happened to be flowing in and out of the bank account during that month. Right.

Well, and I think it's important too to make that analogy. You just used real in that if you go ahead and book that in April, you book it in May, then you know, and you can start to project cash is going to be tight in June and you can start responding accordingly instead of getting into June and you're like all of a sudden, you know, my bank account's half empty. What happened at that point? It's too late.

That's right. That's a great point, Mike. That's just one of the many applications and benefits that comes out of having accrual based financial statements to look at. So now that we've talked about these balances, the AR balances and in the last episode when we talked about the impact on the income statement, we talked about how your gross to net production is where this stuff is showing up and where these things are hitting now it's time to talk about the waterfall. And this is where, this is the magic where all comes together and connects up beautifully. And Mohali, I think I want to throw this one your way and have you talk about this connection of the waterfall and the look back period. Mike, feel free. We can kind of jump around on this one. So everybody gets their input. Go ahead, Holly.

Without having one up on the screen. It's hard to describe if you haven't seen a waterfall, but the way that we present it is you have your data service is your gross production and your data services in the first column. So every row is, you know, January, February, March, April, May. And then the columns across are the months following. And you can look at it multiple ways. But we'll be simple. We just took the calendar across the top. So you have January, February, March, April, May through December. And so you look at January production and you have that total number. Let's say it's $100,000. And the next column is the collections of January production that you collected in January. So Maybe it was $10,000, and then in February you collected $90,000 to total your 100. That would be 100% collection rate. But you know, what you do is you kind of look at how, you know, how many months does it take me to collect what I did in January? And then when you see the dollar stop coming in, you're pretty much collected. You can look in your practice management system, make sure everything's been written off and all the claims are cleaned up. This is a perfect world. Doesn't always happen that way. But then you can see at the very end what your collection rate was. So let's say that at five months out, you collected 88,000 of that hundred that you billed. And so your collection rate for that January month was 88%. And that might be a little bit low. You may have to go look at your adjustments to figure out why, you know, in the next month, February, maybe you build another hundred thousand dollars and you collected 92,000, so you have a 92% collection rate. So as you look at history and you have, you know, 12, 24, 36 months of history, you'll be able to see a very good trend of what your collection rate really is. And then the key is to figure out what the difference between your collection rate and the 100% is. And that's the adjustments that we keep talking about, and we keep saying that's where you can find your opportunity to raise your collection rate rate. You know, it may be your fee schedules are wrong. You know, if it's something simple like that, then you're over expecting money and you need to fix your fee schedule.

Holly, that's a great point, because I think we intended to talk about that earlier on. But if your fee schedule is off, then what you're initially Recognizing is off because you're doing your best with your gross production and then you're making all your adjustments and your AR balances, but it's either over or underinflated. And then that, that ends up having to get reconciled out of the system at some point once you realize that that variance is there, which, by the way, the waterfall model helps you catch that, so you can get in and fix that as soon as it or very quickly after it happens. Mike, what sticks out to you about the waterfall and how that it all links up to create this flow between the balance sheet and the income statement?

Yeah, the one thing that I think, you know, it's easy to miss if, you know, like Holly said, if we're not in a perfect world, is the waterfall is very reliant on accuracy of period. And so, for instance, you know, if you book that in January and you know, come April, people are just dropping a payment on anything in, you know, the patient's account rather than actually going back and saying, okay, this is a January procedure, this payment needs to be applied to that, then it really deflates the accuracy of your waterfall and it really diminishes what you can do with the waterfall. You're again back to kind of a guessing game because you didn't tie in both halves of the transaction. So it's. And again, that's a lot of that's done in the field. Maybe a lot of it's done by central billing department, but it does, it does kind of get out of the hands of the accounting department a little bit. But it very much affects the accuracy of what you could do.

Yeah, great point. Now, the interesting thing about the waterfall as you do this, you're constantly looking to see if the estimates that you've made for these reserves on a monthly basis, you're constantly looking backward to see if those were the right amounts. So maybe, Mike, could you talk about why do you want to look back and how far you generally are looking back to try to tie things out on a month to month basis?

Yeah. So I think it depends on the life cycle of the practice. I mean, how much history you have, how long has the trend been, but generally at least three to six months back is what we'll look back. And what you're looking at is back to Holly's example. Let's say your waterfall shows that you are 88% and you were 80, 88 to 90% for four months. And then all of a sudden for the next three months you're at 87% and then 84% and then 82%, something's happened. And so you want to look back to see, did we change a biller, did we have a fee schedule update that wasn't appropriate, did we bring in a new physician that's not credentialed? It gives you the tool by looking back to help you identify what changed and then how to fix it proactively. If you're not doing that look back on a monthly basis, you can get pretty far down the road with a lot of erroneous data before you fix it. And so that's why those look backs are so important. Perfect.

All right, Holly, anything for you on the three year look back and prior period adjustments, anything that sticks out for you.

So one thing I would say, and I would do this on a three, six or nine month basis, but you do want to make sure that you're accurately recognizing your income, your revenue, and also being realistic with yourself about how much AR you really have to collect by looking back. So my January example say that we're sitting in September and you can see that everything was collected in January. You collected $88,000, but you estimated on your P and L you were going to collect 90. And it's like that $2,000 really isn't collectible and it's still sitting in your AR. And you might need to think about what you want to do with that. Like, do you need to make an adjustment before you close the year to show that January's revenue was really not $90,000, it was 88. The other thing that it does, the waterfall does, I'm going to pivot a little bit and go looking forward is it helps you link your AR. You can know if you have $100,000 of AR sitting on your balance sheet and you know typically how long it takes you to collect things. You can forecast when that money is going to come into your bank account and you can make better decisions about when you can spend money if you need to.

That's great. I think that example is really, really helpful because if your estimates are off and if you think month over month, they're off, what's going to happen is it means your financials are inaccurate. You have to go back and tie back to actual or over time, they're going to slip out of accuracy. And so that's, it's an interesting thing when I explain to people that, you know, to dentists or others just in the industry that accrual accounting really is our best estimate of what we will collect from all of the services provided month. What we're doing is we're using math and waterfall models and all of these different tools at our disposal to try to make our very best estimate. And then we will true up. And what happens when you first get started is you end up off, sometimes significantly. And then as you do it, month over month, you get better and better and these prior period adjustments and these variances start to get smaller and smaller. The issue is you've got to get started and you've got to get your waterfall model built out and start validating it. And then these variances just tighten and tighten and tighten to where it's really not much of an estimate anymore unless there is some significant major change in a business process that impacts something in a month. Like, for example, all of your providers are decredentialed for some reason and then you've got, you know, a big, big problem on your hands. So in fact, at that point, accrual accounting is not your biggest concern. There are many other concerns that have to get addressed. But I think it's important though, for our listeners to be really clear that this takes work, it takes effort, and it takes time. And I think, Mike and Holly, part of the reason why I wanted the two of you to be the guests helping drive this content is because both of you came into your organizations when you were either in the middle of a conversion to cash to accrual or, or you just had to take the whole thing on. And it's, it's really important to understand that it is an iterative process. This isn't in QuickBooks. Click on I want my financial statements in accrual. Oh, I want to switch back to cash. That is not, that's just a very simple remove ar, remove AP type of a thing. And that doesn't, that doesn't, that's not what this is. The other interesting thing is, is you end up knowing a lot more about your business when you focus on this. Because like Holly's example, that difference between 88,000 of collection versus 90,000, this points to you to exactly what it is you need to do so that you can start collecting the 90,000. It shows you where the variances are, shows you where the differences are, and shows you where your RCM team, your providers, assistants that are helping providers with, you know, making sure that everything's coded properly and those sorts of things in the systems. All of that comes around to saying, now ultimately, what are we, what are we going to collect at the end of the day? All right, final words, Mike, any Any last final thoughts for us?

No, I think that the only final thought is kind of checking what we've been saying. You've got to make sure that value is real. You know, it's going to affect obviously future cash flow. It's going to affect when you go to the PE market, you know, it's that you just have to make sure it's real.

All right, Holly, thanks. I agree.

And you know, making sure it's real goes a long way for trust. It helps your providers to feel comfortable if they're paid on collection based compensation and they know that you're watching those adjustments and you're doing everything you can to improve. It just, it helps a long way with trust.

Yeah. So, so important. Well, that this is kind of bringing to a conclusion the balance sheet discussion which is part number three of this five part series. Just a quick teaser for part number four. We're going to get into expense recognition and how accounts payable works and how that connects over to your income statement to drive even greater accuracy when you make this conversion from cash to accrual basis. Many, many thanks to you for all. To all of you listening in and especially to Mike and Holly for joining today. This has been a great episode. Everything about the impact of accrual accounting on the balance sheet and how the balance sheet drives the accuracy through your entire accrual system. Again, many thanks for joining. Happy day.

Hey guys, Emmett Scott here from DSO Secrets. We have just finished at the beginning of this year some great events, women in DSO, the ADSO summit. But we're about to host with DEO the Growth Summit 2022 here in June in Scottsdale, Arizona this summer. Now for those of you who know deo, you know that they go deep on the tactical issues to scale and grow your business. So this is going to be one of the most powerful events in group dentistry. It'll be the biggest summit in DEO history. And really the dental world's going to descend upon this beautiful Phoenician resort with some of the biggest name brand in our industry. Many of you know Steve Bilt, CEO of Smile Brands, always speaks authentically the truth and you can really ask questions. Go deep with him. We're going to have bestselling author John Acuff and just many, many more. Again, this will be an opportunity to ask some of the best of the best those questions you've been wondering on how to scale, how to grow, how to get to your vision. So go to D deodental group.com events. I'll try to put a link in the description below, but join me at deo Grow Summit 2022. This is where dental leaders really learn to grow successfully together. Look forward to seeing you there.

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