Welcome to the Hey Docs! Podcast with your host Jill Allen.

Today, we have a special guest, Ryan Moynihan from Gaidge, on the show. In this episode, you will discover how Gaidge gathers and utilizes vast industry data and hear about the most interesting findings from this last year. As we step into 2024, get ready for invaluable advice on navigating the evolving orthodontic landscape.

Let’s dive in!

https://www.gaidge.com/
https://www.facebook.com/GaidgeOrtho
https://www.instagram.com/gaidgeortho/
https://www.linkedin.com/company/gaidge/
https://www.youtube.com/channel/UCg-TfxTvb1JsqsqyUkDvPJQ

Summary

In this episode, Ryan Moynihan, COO of Gaidge, discusses the highlights and trends of the orthodontic industry in 2023. He shares insights on the stability of the industry, the impact of COVID-19, and the performance of different treatment modalities. Ryan also emphasizes the importance of addressing the 'leaky bucket' in patient conversion and leveraging data to improve practice performance. He highlights the features and enhancements of the Gaidge platform and discusses future plans for the company. In this conversation, Ryan Moynihan discusses surprising data trends in the orthodontic industry, offers advice for the future, and emphasizes the importance of using data for new businesses. He also shares leadership philosophies and highlights the need for simplification and collaboration. The conversation concludes with a speed round and Ryan's big, hairy, audacious goal of finding peace in simplification.


Takeaways

• The orthodontic industry has shown stability and resilience, with a compounded annual growth rate of 4.8% over the past five years.
• The COVID-19 pandemic had a significant impact on the industry, with a spike in growth followed by a period of decline.
• Adult starts have decreased, while bracket and wire treatments have gained traction compared to aligners.
• Addressing the 'leaky bucket' in patient conversion is crucial for practice success.
• Using data analytics platforms like Gaidge can help orthodontists benchmark their performance, identify areas for improvement, and make data-driven decisions. Data trends in the orthodontic industry can be surprising and may require further analysis to understand.
• It is important for businesses to use data to make informed decisions and maximize profitability.
• Leadership should focus on collaboration, vulnerability, and understanding different perspectives.
• New businesses should start paying attention to data from the beginning to establish a strong foundation.
• Simplification and finding peace in simplicity can lead to greater satisfaction and mental health.

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Chapters
00:00
Introduction and Background
02:05
Ryan's Journey in the Industry
06:27
Highlights and Trends of 2023
13:28
The Leaky Bucket and Patient Conversion
19:12
Buyer Trends: Adults vs. Kids, Aligners vs. Brackets
25:41
Using Data to Improve Practice Performance
31:47
Enhancements and Future Plans for Gaidge
33:40
Surprising Findings in the Data
34:49
Surprising Data Trends
36:28
Advice for the Future
39:14
Using Data for New Businesses
41:36
Managing Business Metrics
42:37
Leadership Philosophies
45:50
Contacting Gaidge
46:38
Speed Round
51:18
Big Hairy Audacious Goal

Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- www.practiceresults.com.

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New episodes drop every Thursday!

Episode Credits:
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Johnny Mitchell