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Audio
Bio

Kyle has over 35 years of experience in the insurance industry. The last 25 have been spent working exclusively with dentists of all specialties and dental practices of all sizes. He has been recognized in the dental community as an authority on dental practice risk management and malpractice claims prevention. He often speaks to groups of dentists on this subject, has taught the risk management portion of the AGD Master Track program in Dallas, has written several articles for Doctor of Dentistry magazine, and was a contributing author for the book, “The Practice Launchpad.”

About:

● This week, Glenn was happy to sit down with Kyle Wallace from the Wallace Specialty Insurance Group.
● While Kyle is one of our newest sponsors, he’s worked with Glenn since way back. In fact, Glenn has known Kyle since his days in dental school!
● Kyle has over 35 years of experience in the insurance industry. He's spent the last 25 working exclusively with dentists of all specialties and practices of all sizes. Kyle has seen “most everything” but, in his words, “seeing something new makes my day.”
● While Kyle has operated in a plethora of insurance-related matters, malpractice is his “first love” and his favorite area to operate in.
● As stated, Kyle is already a well-known face for many members of the Nifty Thrifty community. But he’s also well known across other spheres of the dental profession—especially those who went to school or live in the Dallas area. Kyle has been recognized in the dental community as an authority on dental practice risk management and malpractice claims prevention.
o More specifically, Kyle has taught the risk management portion of the AGD Master Track program in Dallas, has written several articles for Doctor of Dentistry magazine, and was a contributing author for the book, “The Practice Launchpad.”
● When Glenn was in dental school, he would watch Kyle speak and saw the wonders he was doing for his colleagues. Then, fresh out of dental school, Glenn ran into some deep water with an upset client who was offering to sue him. Kyle was able to help him overcome that situation, and they’ve been pals ever since.
● Whether you’re a new dentist—like Glenn was—or you’ve been practicing for a long time, chances are that you’re bound to run into issues surrounding disability and malpractice insurance.
● Wallace Speciality Insurance Group has evolved to serve more than 6,000 clients, and most of the day-to-day is handled by Kyle’s team. That said, he’s maintained the role of “claim’s counseling” where he takes emails, calls, etc. from clients who are under a threat from a patient but that threat has not yet “escalated.”
● Typically, in order to get sued, you’ll need to really mess up in something that Kyle deems a “black-and-white” or “obvious” situation. Otherwise, being sued is often more of a menacing threat than a reality. That said, you still need to be careful in order to prevent lawsuits!
● At the end of the day, we’re all human. It’s important to not let your emotions take the helm, and Kyle is your guy when it comes to pragmatically navigating a situation where you may be in jeopardy of a lawsuit.
● For those already working with Kyle, it’s worth sending him an email because, chances are, you need a quick update on your current dynamic.

● Learn about…

o What story does Glenn tell about his experience working with Kyle, and how does this story showcase Glenn’s belief that “you never know how valuable it is to work with someone like Kyle until you actually get in trouble”?
o What’s the “gap” Kyle sees between what happens on a daily basis in a dental practice and what an insurance company is “there to do”? How is it an “ol’ hammer & nail” dynamic?
o On that note, how does Kyle mitigate things before an insurance company needs to be involved in your situation(s)?
o How has Kyle’s insurance company grown over the year?
▪ Hint: they serve over 6,000 clients!
o Why does Kyle think you will “most likely not be sued” by that patient who tells you you’ll be hearing from their lawyer? And why do they “most likely” have no lawyer to speak of yet?
o Why does Kyle think we need to throw lawyers some love as “integral” members of our society?
o What do lawyers look at before taking on a case where a patient threatens to sue you? How does it relate to a “business mentality,” and why might this be good news for you?
▪ Hint: they’re typically looking to generate at least $35,000 – $40,000 for a case to be “worthwhile.”
o Why does Glenn know firsthand that you shouldn’t send an email “freaking out” at midnight when you’re in jeopardy of being sued? Why does Kyle think you should take a deep breath before you fret about their “arsenal of weapons”?
▪ Hint: worry more about a patient mounting a social media attack, or a “state board review.”
● Another hint: we “live and die” by patient reviews!
o Which precautions are in order for you to ensure you won’t be toppled by a patient suing you, if it happens?
o In the moment a patient threatens to sue you, what should you address?
o How should you speak to an angry patient? Why should you “shut up” and let them talk until they’re done?
▪ Hint: oftentimes, they just want respect and a sincere apology.
o How should you go about writing a “release,” and how should you ensure it’s “iron-clad” without certain clauses?
o Why do you need to be “proactive” when communicating with an angry patient?
▪ Hint: people know when you’re “hiding” from them, and that’ll get them even more frustrated!
o What do you need to know about an Umbrella Policy?
o And more!

● Let’s face it: any kind of insurance is one of the more expensive things we need to buy. So, it’s worth making sure you’re getting a bang for your buck!
● If you want to start the process, get the “Nifty Deal” and make a connection, feel free to send an email to:

[email protected], call 972-663-5190, or visit their website at

https://www.insurance4dds.com/.

NIFTY DEAL:

● Free review of your insurance portfolio to help you find exactly what you need at the best price!