Beyond Bitewings

Common Triggers and Solutions for Dental Practice Bankruptcy

Thu, 09 Apr 2026 06:00:00 -0500

In this episode, Ash sits down with Jen Lee, a bankruptcy attorney at Lawyer Success Network with extensive experience advising dental and healthcare professionals. They discuss the common fears and misconceptions surrounding bankruptcy, clarifying that bankruptcy can be a practical financial tool, not just a sign of failure. Jen shares the financial challenges dentists face, including high student loan debt, business loans with personal guarantees, merchant cash advances, and the risks of intertwining personal and business finances.

The discussion covers the main types of bankruptcy relevant to dentists: Chapter 7, Chapter 11 (including Subchapter V), and Chapter 13, explaining when each is applicable and what outcomes dentists can expect. They also talk about the importance of keeping business and personal finances separate, understanding cash flow, and seeking professional advice early. The episode also highlights warning signs that should not be ignored, alternatives to bankruptcy such as loan consolidation and practice sales, and practical steps for dentists to reduce financial risk and make informed decisions.

To find out more about Jen, visit: https://lawyersuccessnetwork.com/

Key Topics Discussed:

The stigma and realities of bankruptcy for dental professionals
Common financial struggles and sources of debt for dentists
The risks of mixing personal and practice finances
The importance of understanding and monitoring cash flow
An overview of Chapter 7, Chapter 11 (and Subchapter V), and Chapter 13 bankruptcies
Handling student loans and practice loans in bankruptcy
Impact of bankruptcy on future financing, credit, and professional life
Early warning signs of financial distress and steps to take
Alternatives to bankruptcy and when to consider selling a practice
Legal and financial steps to protect your practice before problems arise

Dental Practice Resilience: Systems, Leadership, and the Path to Owner Freedom

Thu, 19 Mar 2026 05:00:00 -0500

Ash welcomes Matt Gruber, founder of COtingency, to discuss how dental practice owners can safeguard their businesses against unexpected absences and transitions. The conversation covers why even successful practices often remain heavily dependent on one or two key people, and the risks that arise when essential knowledge and operational secret sauce aren’t adequately documented. They discuss how owners can reduce the business's dependence on them, including identifying critical gaps, building resilient systems, and preserving both short-term continuity and long-term succession.

Matt also discusses his legal and business experience, highlighting common pitfalls when a founder’s intuition or involvement becomes a liability rather than an asset. They explore scenarios such as sudden health incidents, the involvement of spouses as key players, and operational blind spots that threaten continuity. They also talk about how owners can best document decision-making, how to recognize operational risks, and how to make mindset shifts—especially for owners who tie their self-worth to their business.

To learn more about Matt and COtingency, visit: COtingency.com

Key Topics Discussed:

Owner dependency and risks in dental practices
Motivators for continuity planning (money, time, empowerment, health)
Documenting institutional knowledge and secret sauce
Operational and relationship breakdowns during sudden exits
Differences between continuity and succession planning
Preparing successors and managing transitions
Communication strategies for succession
Silent operational risks and the role of spouses
Practical documentation and empowerment tips
Mindset shifts for founders and legacy businesses
Benefits of planning for resilience and future opportunities
Business readiness for private equity and acquisitions

Creating a Culture of Radical Accountability - Part 2

Wed, 04 Mar 2026 06:00:00 -0500

Ash continues the conversation with Dave Rosenberg, focusing on building accountability and effective team leadership within dental practices. Dave explains why true accountability starts with clear communication from leadership and outlines how open-ended questions help ensure team members understand both expectations and the broader intent behind their roles. He emphasizes that leaders need to own their communication and be proactive in supporting their staff to understand downstream impacts of their actions so everyone works toward common goals.

The discussion covers practical steps for creating an accountability map, highlighting the importance of assigning responsibility to a single person rather than a group or department. Dave also clarifies the difference between motivation and inspiration in the workplace, recommending professionals hire individuals who find personal meaning in the value their business provides. The episode concludes with advice for dental practice owners: model the standards you want to see, address your own behaviors first, and be open about improvement with your team. This approach helps create a culture where team members hold each other accountable and drive stronger results together.

For our listeners who own or lead a dental practice, Dave Rosenberg is offering a complimentary 30-minute coaching debrief following today’s conversation on Radical Accountability™.

The session is designed to help practice owners identify where accountability is unclear, where decisions slow down, and what adjustments will create more consistent execution from the team.

This is not a sales call. It’s a focused working conversation intended to create clarity. https://lockedonleadership.com/debrief

Key Topics Covered

Accountability as a leadership responsibility
Communication techniques for leaders
Creating and using accountability maps
Mindset and workplace culture
Difference between motivation and inspiration
Maslow’s hierarchy of needs in the workplace
Impact of individual actions on teams
Addressing performance issues with strong performers
Learning responses versus punitive theatrics
Self-reflection and modeling standards as a leader
First steps for improving accountability in a dental practice
Measuring progress in team accountability

Creating a Culture of Radical Accountability - Part 1

Thu, 19 Feb 2026 06:00:00 -0500

In this episode, Ash welcomes Dave Rosenberg, a leadership expert with decades of experience in both the military and the business sector. They discuss the difference between team accountability and individual performance, highlighting how true accountability is built into systems and processes rather than just expecting team members to do the right thing. Dave talks about his background in leadership and engineering to explain the importance of clear job descriptions, formal training, and standards as the foundation for a culture where employees consistently meet expectations.

The conversation covers how leaders can shift their approach from assigning blame to focusing on process improvements and how modeling the right behaviors sets the tone for the entire team. They also discuss the distinction between responsibility (responding in the moment) and accountability (ability to follow and assess the process), using real-world examples to make the concepts practical for dental practices and other businesses. Dave also talks about the need for leaders to actively solicit feedback to ensure that intent is truly understood by the team.

Key Topics

Building team accountability as a system, not just a people issue
The differences between responsibility and accountability
Why clear job descriptions and formal processes are essential
The role of leadership in setting and modeling standards
Creating a culture where mistakes lead to improvement rather than blame
How to solicit feedback to confirm understanding of intent
Common gaps in mechanical processes within leadership teams

For our listeners, Dave is offering a complimentary 30-minute coaching debrief following today’s conversation on Radical Accountability™.

The session is designed to help practice owners identify where accountability is unclear, where decisions slow down, and what adjustments will create more consistent execution from the team.

You can book your free session here: https://lockedonleadership.com/debrief.

Enhancing Dental Patient Experience with AI and Virtual Receptionists

Thu, 05 Feb 2026 06:00:00 -0500

Ash welcomes Nathan Strum from Abby Connect to discuss the evolving role of technology, especially AI, in enhancing the patient experience at dental practices. They break down the traditional functions of the front desk, highlighting the importance of both in-person and phone interactions, and the challenges associated with each—especially the common pain point of phone overload.

They also discuss why separating in-person tasks from phone duties leads to better service and a less stressful work environment for dental staff. They also talk about the role of AI-powered and virtual receptionists, including their capabilities, advantages, and their current limitations when handling patient interactions and urgent calls. Compliance and HIPAA considerations for practices using these technologies are also discussed. It’s clear that, rather than replacing human roles, AI is best used as a support tool to improve efficiency, help staff retention, and keep up with patient expectations in a competitive dental landscape. Nathan offers practical advice for practice owners and team members on vetting virtual receptionist services and stresses the importance of ongoing training and adaptability in adopting new technologies.

To connect with and learn more about Nathan, visit: https://www.abby.com/

Key Topics Discussed:

Dividing front desk and phone responsibilities for better patient experience
How slow or missed phone responses can lose new patient leads
The role of AI and virtual receptionists in dental practices
Handling urgent and emergency patient calls with AI and human backup
Impact of phone tasks on front desk stress and staff turnover
Cost, training, and staff retention benefits of using virtual receptionists
Ensuring HIPAA compliance with third-party phone services
How to evaluate and choose a virtual receptionist provider
The importance of ongoing staff training in new technologies

How Design Trends Are Changing Dental Practices and Patient Experiences

Thu, 22 Jan 2026 05:00:00 -0500

In this episode of Beyond Bitewings, Ash sits down with Mark Brodson, Managing Broker at Resource Commercial Advisors, to discuss current design and real estate trends for dental practices. Mark shares insights on how dental office design now focuses more on patient comfort and the overall experience, moving away from the traditional, clinical atmosphere to environments that feel more like spas or lounges. He gives a detailed look at space planning, explaining typical square footage requirements for modern practices and the growing interest among dentists in expanding services to include aesthetic treatments like Botox.

The conversation also explores key considerations for dentists deciding between leasing or buying their office space. Mark Brodson explains the importance of lease clauses, including rights of first refusal and demolition or relocation clauses, and the value of working with a professional broker throughout the process. The episode wraps up with a discussion on suburban versus urban demand for dental spaces post-COVID and the significant impact that updated office design can have on the value and marketability of a dental practice.

To find out more and connect with Mark, visit: https://www.resourcecommercial.net/mark-brodson/

Key Topics Discussed:

• Design trends in dental office spaces

• Patient experience and comfort in dental practices

• Typical dental office sizes and efficient use of space

• Leasing vs. buying dental practice real estate

• Important lease clauses to consider (right of first refusal, demolition/relocation)

• Tenant improvement allowances and lease renewal strategies

• Factors that influence the value of a dental practice

• The shift from urban to suburban dental practice locations

• The role of professional brokers in real estate decisions

Don’t Leave Money on the Table: How to Sell Smart to a DSO

Thu, 08 Jan 2026 05:00:00 -0500

In this episode of Beyond Bitewings, we're bringing back some of our favorite advice from our episodes that discussed selling a dental practice to a Dental Support Organization (DSO), highlighting the significant differences between selling to a DSO and an independent buyer. The conversation covers how DSOs value practices using EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), and why this can result in higher sale prices compared to traditional methods that use a percentage of collections. We also explain the importance of understanding value from the DSO and private equity perspective and warns practice owners about the risks of responding to unsolicited offers without proper representation.

The episode addresses key concerns for dentists, such as what to expect after the sale, how contracts are structured, and why it’s essential to shop around for multiple offers before committing. They discuss the impact of EBITDA calculations on a practice’s valuation, the role of lease agreements when the seller owns their building, and strategies to maximize the value of the transaction.

Key Topics Discussed:

How DSOs value dental practices using EBITDA
Differences between DSO and independent sales
The structure of post-sale contracts and earn-outs
Pitfalls of responding to unsolicited DSO offers
The importance of getting multiple offers and proper representation
EBITDA calculations and their effect on practice valuation
Lease agreements when the seller owns the building
Advice for maximizing practice sale value
The changing dental industry landscape with the growth of DSOs

How To Build Value and Reduce Risk Before a Dental Practice Sale

Thu, 18 Dec 2025 05:00:00 -0500

Ash sits down with Dr. Ruth Mannschreck, a seasoned dentist turned practice transition coach, to talk about the real-world challenges and overlooked opportunities when selling a dental practice. Dr. Ruth shares the mistakes she made during her own transitions, such as not planning far enough in advance and not preparing the practice to be attractive to buyers from both a financial and operational standpoint. She emphasizes the importance of understanding what you want from a sale, proactively increasing value, and reducing buyer risk in ways that go beyond just the numbers.

The conversation moves into the role of practice culture, team involvement, and the transition process. Dr. Ruth advocates for engaging the dental team early in the transition, highlighting the benefits of transparency and preparing the team to operate independently. They also discuss the pitfalls of overreliance on the practice owner and the risk of selling a practice that functions more like a job than a turnkey business. Dr. Ruth offers listeners access to her resource checklist at prepitnow.com and outlines how planning and open communication can support a smoother transition for everyone involved.

To find out more or connect with Dr. Ruth, visit: https://shorelinestrategies.com/

Key Topics Discussed:

The importance of early planning and preparation when selling a dental practice
Common mistakes practice owners make during transitions
Financial versus operational readiness for sale
The value of culture, systems, and team capability in the sale process
Strategies for increasing practice value and reducing perceived risk
The impact of naming and branding on practice transitions
Including the dental team in discussions and evaluations with potential buyers
Creating a turnkey business versus selling a “job”
Overcoming the challenge of letting go of control as an owner
How to access Dr. Mannschreck’s Prep It Now checklist for selling a practice

The Real Cost of 401k Plans and Simple Steps to Save Thousands

Thu, 04 Dec 2025 06:00:00 -0500

Ash welcomes Paul Sippil, a forensic 401k consultant, to discuss the complexities and hidden issues often found in group retirement plans, particularly 401k and profit sharing plans within dental practices and other small businesses. Paul shares how his unique role focuses on exposing conflicts of interest, unnecessary fees, lack of transparency, and even fraud within these plans. He describes how business owners and plan participants frequently misunderstand how fees are assessed, often assuming they pay nothing out-of-pocket—when in reality, high costs may be embedded, sometimes even continuing long after the original adviser has left or, in some cases, passed away.

Paul explains the mechanics of broker commissions, how these fees are often hidden from both employers and employees, and the importance of transparency in fee structure. He provides practical advice for dental practice owners and other professionals on how to minimize costs by paying fees directly at the employer level, allowing for tax deductibility and better cost control. Paul also covers the value of one-on-one meetings with advisers for plan participants, and offers recommendations on how owners can better manage their retirement plans to avoid unnecessary expenses and potential abuses.

To learn more or connect with Paul, visit: https://www.paulsippil.com/

Key Topics Discussed:

What a forensic 401 (k) consultant does
Common misunderstandings and hidden fees in group retirement plans
Broker commissions and lack of fee transparency
Real-world examples of fee abuses and potential fraud
Why dental and other professional practice owners should pay retirement plan fees directly
Importance of transparent, fixed-fee arrangements with advisers
The value and scarcity of one-on-one meetings between advisers and participants
Simple steps to reduce retirement plan costs and improve oversight

Dental Lease Renewals and Negotiations: Strategies Every Dentist Should Know

Thu, 20 Nov 2025 06:00:00 -0500

Ash sits down with Luke Oyler from CARR, a company specializing in dental real estate services. The conversation centers around how dental professionals can make smarter decisions when leasing or purchasing practice locations, highlighting the importance of working with expert advisors. Luke explains how CARR advocates for dentists, negotiates key aspects of their leases—including base rent, tenant improvement allowances, and free rent—and brings market insights to help avoid costly mistakes.

The episode also covers strategies for lease renewal and negotiation. Luke stresses the need for dentists to start planning at least a year in advance to maintain leverage, especially given the high costs and complexity of moving a dental office. The discussion clarifies that CARR’s services typically come at no cost to the client, as agents’ fees are paid by landlords. Additional topics include how CARR supports clients throughout the process, keeps track of important timelines, and provides access to a network of trusted professionals in areas like lending, construction, and accounting.

To find out more, you can visit: https://carr.us/

Importance of negotiating base rent and advertised lease rates
Tenant improvement allowance and how it impacts startup costs
Free rent periods and working capital for new practices
Lease renegotiation strategies and how to keep leverage
Timing for approaching lease renewal
How professional dental real estate agents are compensated
Tracking leases and proactive renewal reminders
Asking for tenant improvement allowances during renewals

Reducing Dentist Burnout Through Insurance: Strategies for Practice Owners

Thu, 06 Nov 2025 06:00:00 -0500

In this episode, Ash sits down with Nick Hinshaw from WinStar Insurance Group to discuss how insurance can play a critical role in reducing stress for dental practice owners and their teams. The conversation covers essential insurance policies beyond the mandatory requirements, like disability insurance and group benefit plans, which can offer peace of mind to both owners and staff. Nick explains how regularly reviewing disability policies ensures coverage matches the evolving needs of practice owners, helping prevent unwanted surprises if a disability occurs.

They highlight the importance of offering group benefit plans—such as health, dental, vision, and disability insurance—to retain employees and build a supportive practice culture. With turnover rates high in dentistry, especially in urban environments, providing comprehensive benefits can make a practice competitive and foster loyalty among team members. Ash and Nick also touch on insurance requirements for equipment purchases and warn against forced-place insurance imposed by lenders, which is often expensive and limited.

To find out more and connect with Nick, visit:

https://www.winstarins.com/breweries.html

Or you can email him at nhinshaw {at} winstarins.com

Key Topics Discussed:

Insurance as a tool for stress relief in dental practices
Benefits of non-mandatory insurance, especially disability coverage
Regularly updating insurance policies to match current needs
Importance of group benefit plans for retention and practice competitiveness
How supporting employees with benefits impacts practice culture and output
Challenges with lender-imposed (forced-place) insurance on equipment
The need for proactive, communicative insurance agents
Asking staff about the benefits they value most
Risk management and reducing pressure for practice owners

From Concept to Clinic: How to Successfully Build Your Dream Dental Office

Thu, 16 Oct 2025 05:00:00 -0500

Ash welcomes Dustin Long of Big Sky Construction to talk about building dental offices from the ground up. Dustin brings decades of experience and shares what sets dental office construction apart from other building projects. He emphasizes the importance of a collaborative process that starts months before the first wall goes up, involving real estate brokers, CPAs, designers, and other professionals to ensure each practice fits both the client’s immediate and future goals.

They cover the full journey, from picking the right location and working through lease negotiations to tailoring the practice to match the dentist’s vision and workflow. Dustin and Ash also discuss common pitfalls—like hiring non-specialized contractors—and how mistakes in pre-planning can lead to costly corrections and lost income. They stress the benefit of relying on specialized teams and trusted advisors throughout the process and share a story of a client who narrowly avoided disaster by sticking with dental-specific experts.

To find out more about Dustin, you can connect with him at: www.BigSkyConstruction.com, email him at dlong {at} bigskyconstruction.com or call him at 206-259-0936.

Key Topics Discussed:

Importance of creating a seamless and enjoyable construction experience
The critical pre-construction planning phase (6–9 months before building starts)
Working with real estate brokers, CPAs, designers, and equipment reps
Assessing existing spaces for suitability and hidden costs
Customizing design based on the dentist’s present and future goals
Differences between dental office construction and generic builds
Risks of using non-specialist or inexpensive contractors
Importance of precise measurements and planning
Financial planning, including working capital and lender selection
How a team of specialized advisors can help avoid costly mistakes
Stories of clients who benefited from using dental-specific experts
The value of study clubs and peer learning in the dental community

Unlock Hidden Revenue in Your Dental Practice with Mobile Specialty Care

Thu, 02 Oct 2025 05:00:00 -0500

Ash welcomes another guest from the Southwest Dental Conference, Cindy Lozano from Nomad Mobile Dental Specialist. They talk about how general dental practices can keep more specialty work—and the related revenue—in-house by partnering with Nomad. Cindy shares how their model provides mobile specialists such as endodontists, periodontists, and oral surgeons directly to general dental offices. This arrangement allows general dentists to avoid referring patients out, while Nomad handles all clinical aspects and support, bringing everything needed except the dental chair and sterilization area.

The discussion covers practical points like insurance liability, operational flexibility, and implementation steps. Cindy highlights the partnership-based approach, customizable scheduling, and support with everything from training to specialty insurance verification. Real-world examples illustrate significant revenue growth for practices utilizing the Nomad model, and Cindy explains how offices can get started, emphasizing how easy integration can unlock previously unrecognized potential for specialty production within general practices.

You can find out more by visiting:

https://www.nomaddentalspecialists.com/

Key Topics Discussed

Nomad Mobile Dental Specialist’s mobile partnership model for general dental practices
Keeping specialty work and revenue in-house
Services provided by Nomad, including specialists, assistants, and equipment
Practice requirements and logistical considerations
Insurance and malpractice coverage details
Payment structure and tax setup (W9/1099)
Flexible scheduling based on practice needs
Results and revenue improvement examples
Implementation timeline and onboarding steps
How to contact Nomad for more information

Key Metrics Every Dentist Should Track for Practice Success

Thu, 18 Sep 2025 05:00:00 -0500

Ash welcomes CJ Carroll from Dental Intelligence, a leading provider of dental analytics software. They discuss the pressing questions many dentists have about practice data—how to interpret analytics reports, which key performance indicators (KPIs) matter most, and whether investing in dental analytics is worth it for your practice.

CJ explains how Dental Intelligence integrates seamlessly with major practice management software like Dentrix, Eaglesoft, and Open Dental to transform complicated data into actionable insights. From tracking provider performance and hygiene reappointment rates to revealing untapped revenue hiding in unconverted treatment plans, CJ breaks down how analytics empower owners to make smarter management decisions. Whether you’re a new dental startup or a seasoned practice owner, this episode sheds light on the real-world benefits of embracing data-driven growth, streamlining workflow, and ultimately maximizing your practice’s potential.

To find out more about Dental Intelligence, visit: https://www.dentalintel.com/

Key Topics Discussed:

Overview of Dental Intelligence and its analytics tools
Key performance indicators for dental practices
Importance of data accuracy and common mistakes
Onboarding process and ongoing support
Suitability of analytics for startups versus mature practices
Capturing lost production and reactivating patients
Tracking patient flow, attrition, and recaptured patients
Integrating with practice management systems
Using analytics for employee bonuses and performance plans

What Should Dental Students Know About the Business Side Before Graduating?

Thu, 04 Sep 2025 06:00:00 -0500

Ash is live at the Southwest Dental Conference, and he welcomes David Mitchell Mejia, a third-year dental student at Texas A&M with a background in accounting. David joins the show to ask key questions that many dental students have about transitioning from school to the business side of dentistry. Ash provides guidance on topics including choosing a practice location, building a team of professional advisors, exploring financing options, and the importance of reviewing associateship agreements.

The conversation covers practical steps dental students and new grads can take to better position themselves for professional and financial success. Ash discusses building relationships with legal, accounting, and insurance professionals, and emphasizes tailoring decisions to individual circumstances—whether deciding to open a practice, join a DSO, or remain an associate. Other important topics include managing personal finances, setting up retirement savings, and the differences between working in DSOs versus private practice.

Key Topics Discussed:

Transitioning from dental school to professional practice

• Choosing a practice location and its impact on personal life

• Importance of building a trusted team of legal, accounting, and financial advisors

• How to evaluate and negotiate associateship agreements

• Deciding between opening a practice, joining a DSO, or becoming an associate

• Understanding compensation structures and non-compete clauses

• Differences between DSO/corporate dentistry and private practice

• Managing personal finances and planning for taxes as a new dentist

• Retirement planning options such as IRAs, SEP, and 401k

• Recommended resources and strategies for gaining business knowledge in dentistry

Attracting and Retaining Dental Talent with Employee Wellness and Retirement Benefits

Thu, 21 Aug 2025 05:00:00 -0500

Ash is joined by Kelly Majdan, VP at One Digital and founder of Power Through Wellness. Kelly brings a rare perspective to the conversation, combining retirement planning expertise with wellness coaching experience. The discussion centers on why balancing wealth and health is critical for dental practice owners, both for themselves and their teams.

Ash and Kelly talk through common misconceptions about 401k plans, especially among dental practice owners. They share practical information about the real costs of starting a retirement plan, available tax credits, and how offering benefits like a 401k can help practices stay competitive in today’s job market. The episode also covers how employee wellness connects to financial performance and how stress can impact long-term outcomes for dental teams. Finally, Kelly gives advice on preparing for retirement, outlining steps for dentists who are 10 to 15 years from transitioning out of their practice, including involving the right financial and health professionals.

To find out more and connect with Kelly, visit: https://www.linkedin.com/in/kellymajdan/

Key Topics Discussed:

Connecting health and financial wellness for long-term success
Misconceptions about starting a 401k in dental practices
Costs, tax credits, and plan design flexibility for retirement plans
Employee benefits as tools for recruitment and retention
The increased awareness and value of 401k plans among Millennial and Gen Z employees
Integrating wellness initiatives into dental practices
Addressing burnout and chronic stress in dentistry
The importance of team strategy and involving experts in planning retirement

The People Side of Dentistry: Proven HR Solutions for Practice Owners

Thu, 07 Aug 2025 06:00:00 -0500

Ash welcomes Michelle Griffin, CEO of Griffin Resources, to talk about the critical role of HR in dental practices and small healthcare businesses. Michelle shares her experiences working across multiple industries, emphasizing the unique HR needs and compliance challenges facing dental offices and other medical providers. She explains how proper HR processes, such as onboarding, documentation, and compliance with local and federal employment laws, can help mitigate risks and support practice growth.

They discuss common pitfalls like employee misclassification and the risks of manual payroll and onboarding processes. Michelle also addresses the importance of HR audits, especially during transitions and mergers, and provides examples of fraud discovered through poor internal controls. When it comes to attracting and retaining top talent, Michelle recommends leveraging culture, competitive advantages, and strong leadership traits focused on valuing team members. The episode wraps up with practical advice for dental practice owners considering a sale, and how to get support from experienced HR professionals.

To find out more or connect with Michelle, visit: https://griffin-resources.com/

Key Topics Discussed:

HR’s role in dental and healthcare practices
Compliance and employment law in HR
Common HR mistakes in onboarding and employee classification
The importance of internal controls and HR audits
Talent acquisition and retention strategies for small practices
Highlighting workplace culture to attract staff
Leadership qualities for practice owners
Preparing for practice transitions and sales

Maximize Your Dental Practice Value With Effective Trust Strategies

Thu, 24 Jul 2025 05:45:00 -0500

Ash welcomes Antoinette Bone, an estate planning attorney and founder of the Law Office of Antoinette Bone, PLLC. Antoinette shares her experience from a background in the Air Force JAG Corps to working with business owners and dentists on estate and trust planning. She breaks down the importance of having a comprehensive plan for dental practice owners, discussing why a trust is often more beneficial than just a will, especially for those looking to protect their practice, family, and legacy.

The conversation covers the basics of different types of trusts, how business structure ties into estate planning, and pitfalls like failing to have the right documents or mixing personal and business assets. Antoinette highlights the need for operating agreements, proper disability planning, and naming the right people to manage both personal and business affairs. She emphasizes that estate planning is an ongoing process, especially as life and business circumstances change. Additional resources for learning more about her work and estate planning are mentioned at the end of the episode.

To find out more or connect with Antoinette, visit: https://abonelaw.com/

Key Topics Discussed:

Antoinette Bone’s career background and military service
Why dental practice owners need estate and trust planning
Types of trusts: revocable living trusts, irrevocable trusts, asset protection trusts
Integrating your business structure with your estate plan
Common red flags and mistakes in estate planning
The role and importance of operating agreements
Risks of using online legal templates versus working with professionals
Disability and incapacity planning for practice owners
Key estate planning documents required in Texas
Handling blended families and unique family dynamics in estate planning
Resources for further education on estate and trust planning

How To Utilize AI Search Engine Optimization (GEO) As a Marketing Tool

Thu, 10 Jul 2025 05:55:00 -0500

Ash welcomes Jennifer Christensen, co-founder and CMO of Beacon Media and Marketing, to discuss the role of artificial intelligence in modern marketing for dental professionals. Jennifer shares her journey as an early adopter of AI, highlighting how new technologies have reshaped client search behaviors and what this rapid shift means for dental practices that want to maintain and grow their online presence. She explains how practices can benefit from AI-powered insights, especially by personalizing content, building credibility, and targeting AI-driven search overviews.

Jennifer discusses practical strategies dental offices can use to become more visible in AI searches, such as focusing on author-driven, expert content and being transparent with information like pricing and service details. She also explores the changing landscape of consumer trust and how dental practices need to adapt to remain relevant, noting that small businesses now have a unique window of opportunity to compete with larger competitors. The episode wraps up with a conversation about AI's broader role in operational efficiency and the importance of businesses understanding and implementing these tools sooner rather than later.

To find out more and connect with Jennifer, visit: https://www.beaconmm.com/

Key Topics Discussed:

• Jennifer’s introduction and experience as an early adopter of AI

• The evolution from information age marketing to the age of intelligence

• How AI impacts SEO, search habits, and website visibility

• Importance of author-driven, expert, and personalized content

• Strategies to get dental practices featured in AI overviews

• The significance of transparency in pricing and service details

• Increasing consumer trust through detailed, credible information

• Using AI for operational efficiencies in practice management

• Adapting to changing consumer behavior and search trends

• The window of opportunity for small businesses in AI-driven marketing

Dental Marketing ROI and Google’s Best Practices

Thu, 26 Jun 2025 06:00:00 -0500

In this episode, Ash welcomes David Herman, founder of Web Marketing for Dentists, who draws on over 20 years of dental marketing experience to explain how specialized marketing helps dental practices achieve real returns on investment. David discusses the unique challenges of dental marketing and how his agency uses data-driven strategies, including tracking PMS data and return on investment, to provide transparency and results for clients.

David shares examples of quick and significant marketing turnarounds, noting that dentists can expect to see a return on their investment in as little as 30 days. He emphasizes the importance of individualized marketing plans—understanding the dentist’s preferred procedures and leveraging patient reviews and targeted content for better SEO. The conversation also covers actionable tips for startups with limited budgets, such as optimizing websites for speed, building out procedure-specific content, and prioritizing Google reviews. David concludes with strategies for balancing pay-per-click and long-term SEO, ensuring dental practices can continue to grow despite rising digital marketing costs.

To find out more and connect with David, visit: WebMarketingForDentists.com

Key Topics Discussed:

Why dental-specific marketing expertise matters
The challenge of educating dental consumers
Ensuring HIPAA compliance in marketing efforts
Using PMS data to track ROI accurately
How quickly can dental practices expect results from digital marketing
The agency’s unique 30-day contract and trial offer
The importance of individualized marketing by dental procedure
Value of video and audio for patient connection
What dental procedures are easiest and most profitable to market
Website optimization tips for startups
Strategies for getting more Google reviews
Differences between pay-per-click advertising and SEO
Long-term digital marketing considerations for dental practices

How Payment Systems Can Boost Dental Practice Profitability and Patient Loyalty

Thu, 12 Jun 2025 05:00:00 -0500

Ash sits down with Mandy Madeline from Pay Proudly, a payment processing company with a unique understanding of dental practices. Drawing from her 18 years of experience in the dental field—from dental assisting to leadership and operations—Mandy shares how Pay Proudly is helping dental offices streamline payment systems, launch in-house membership programs, and ultimately improve patient experiences and practice profitability.

Ash and Mandy discuss the benefits of integrating payment processing with practice management software, ways to minimize manual entry errors, and solutions for managing recurring payments. They also explore the rising trend of surcharging fees, what it means for dental practices, and why transparency and compliance are key when implementing new payment models. Whether you’re an established practice or just starting out, you’ll hear practical tips on optimizing payment systems, retaining patients, and boosting your bottom line.

To find out more or connect with Mandy, visit: https://www.payproudly.com/.

Key Topics Discussed:

Mandy Madeline’s career in dental practice operations
Pay Proudly’s integration with practice management systems
Card vaulting and recurring payments
Simplified in-house membership program setup
Cost savings through surcharging and compliance considerations
Detailed and simplified end-of-day reconciliation and reporting
Transparent analysis of payment processing fees
Importance of customer support and relationship building
Migration timeline and training for switching systems

Is Buying a Dental Practice Still Worth It?

Thu, 15 May 2025 06:00:00 -0500

In this episode, Ash discusses the evolving landscape of dental practice ownership, particularly whether it’s still worth buying or starting a dental practice. Ash explains that the decision is much more nuanced than it was a decade ago. Factors such as market saturation, shrinking reimbursement rates, and increased competition from DSOs and PE-backed practices mean that buying or starting a practice requires extensive research and self-reflection. The conversation covers challenges unique to both startups and acquiring existing practices, including location selection, identifying business models, and coping with the demands of being both a clinician and a business owner.

He also addresses the realities of working with DSOs, selling a practice, and the trade-offs of joining larger organizations versus independent ownership. He also talks about why it's important to understand your career goals, personality fit, and risk tolerance amidst a shifting generational mindset and increasing concern about burnout.

Key Topics Discussed:

The current viability of buying or starting a dental practice
The impact of urban saturation and DSOs/PEs on dental ownership
Key factors and research required for successful startups
Startup vs. acquiring an existing practice: pros and cons
Business acumen and the challenge for clinicians
Effects of market demographics, location, and business models
Lender requirements for practice acquisition
The importance of team dynamics in transitions
Differences between selling to DSOs vs. individual buyers
Alternative equity opportunities for associates
Generational differences in ownership goals
Burnout and realistic career considerations
Planning for exit strategies and financial obligations

The Secret To Creating Value and Career Growth for Dental Assistants

Thu, 01 May 2025 06:00:00 -0500

In this episode, Ash welcomes Kevin Henry from Kevin Speaks Dental, a seasoned advocate for dental assistants with over twenty years of experience in the field. Kevin shares his insights about the evolving roles of dental assistants and the challenges they face, including compensation concerns, feelings of undervaluation, and workplace culture. They discuss the importance of communication, team accountability, and culture in retaining and supporting dental assistants, explaining how these factors often outweigh pay in promoting job satisfaction.

The conversation covers practical ways practice owners can support their assistants, from regular check-ins about career goals to fostering a sense of empowerment and belonging within the team. Kevin also discusses how technology and generational shifts are impacting dental practices, stressing that open dialogue and targeted training help ease the adoption of new tools and responsibilities. They also talk about why it's so important for practice owners to stay updated on state regulations and to invest in knowing their numbers, ensuring both patient care and a profitable, harmonious workplace.

Key Topics Discussed:

Common challenges for dental assistants: pay, respect, and team culture
Ways to add value for assistants beyond compensation
Importance of regular check-ins and career goal discussions
Team accountability and the role of leadership throughout the practice
Improving the hiring process and assessing team fit
The impact of technology on dental practice workflow
Managing generational differences and communication styles
Ensuring compliance with state regulations for assistant duties
Balancing business profitability with patient care and staff satisfaction

To learn more about or connect with Kevin, you can find him at: https://www.kevinspeaksdental.com/

Investing Beyond Your Practice: Building Wealth and Freedom for Dental Professionals

Thu, 17 Apr 2025 05:00:00 -0500

In this special episode of Beyond Bitewings we're sharing our favorite conversations with a few experts who discuss how dental practice owners can create generational wealth by thinking beyond their day-to-day income.

Ash is joined by former guests like Paul Montelongo, Eric Miller, and Nathan Turner as they share practice advice and non-traditional options when it comes to investing your hard-earned income.

In this episode, they unpack traditional and alternative investment strategies designed specifically for dental practice owners. From stocks and bonds to multifamily syndicates and mortgage note buying, this episode covers what you need to know to make your money work for you beyond the dental chair.

Discover how to evaluate different investment options, set up multiple revenue streams for your household, and ensure you're properly compensating yourself as a business owner. The episode also features a practical look at passive investing, how to navigate business plans for real estate syndications, and the ins and outs of buying mortgage notes.

Key Topics Discussed:

Approach to investing for dental practice owners
How multifamily syndications work for passive investors
Typical hold periods, returns, and distributions in real estate syndicates
Defining the role of limited partners (LPs) and their rights
Structuring practice owner compensation and ensuring proper payment
The importance of generating additional revenue streams beyond practice income
Overview of investment options: stocks, bonds, real estate, and insurance products
Mortgage note investing: process, returns, and investor protection
Reporting and payout timelines for investors

Marketing Mastery for Dentists: Building an Authentic Brand and Growing Your Practice

Thu, 03 Apr 2025 06:00:00 -0500

In this episode of Beyond Bitewings, we're focusing on helping dental practice owners stand out in what may feel like a very overcrowded space. Ash shares some of his favorite insights from several different interviews he has done with marketing experts Erin Gregor, Darren Tesatori, and Brandon Hubbard. The conversation starts with Erin explaining the importance of creating engaging content and effectively using social media to connect with potential patients. She suggests starting by answering common patient questions and advises against generic posts, emphasizing the value of authenticity in differentiating a dental practice in a crowded market.

Darren sheds light on the critical role that Google Business Profiles play in attracting new patients. He highlights the importance of optimizing these profiles and accumulating positive reviews to secure a spot in the coveted Google three-pack. Brandon expands on the concept of marketing investment, advising that a proper budget and consistent branding efforts can significantly impact a practice's growth. Together, they discuss the idea that marketing shouldn't be passive and should reflect the unique style and story of the dentist to build a strong connection with potential patients.

You can find the full episodes of each of these interviews here:

Darren: https://eandassociates.com/secrets-to-growing-your-dental-practice-with-google-reviews-and-local-seo/

Brandon: https://eandassociates.com/dental-marketing-demystified-how-to-drive-growth-and-stand-out-in-the-industry/

Erin: https://eandassociates.com/how-to-use-social-media-to-grow-your-dental-practice/

Key Topics Discussed:

Creating engaging content for social media
Choosing the right social media platforms
Time and resource allocation for social media efforts
Setting and managing marketing budgets
Understanding costs related to acquiring new patients
Building and maintaining trust with marketing teams
Importance of content in current marketing strategies
Transition from traditional to content-driven marketing
Optimizing Google Business Profiles
Leveraging online reviews for better visibility

Tax Season Survival Guide: Expert Tips from a Tax Manager

Thu, 20 Mar 2025 05:00:00 -0500

In this episode. Ash welcomes Lorraine Kent, the current tax manager at Edwards and Associates, to discuss essential tax strategies and tips specifically for dental practitioners. They start by discussing topics like deductible expenses, common tax mistakes, and audit red flags. Lorraine shares insights on what expenses are deductible for rental properties and the implications of depreciation recapture when selling such properties. She also provides guidance on loss harvesting strategies and the importance of tax planning while reviewing personal and business investments.

They also explore common tax mistakes that can be easily avoided, such as the importance of sharing all necessary tax documents with accountants, and they discuss key audit triggers like meals, travel, and auto expenses. They round the conversation with real-world examples of tax horror stories they've encountered due to miscommunication or oversight.

If you have specific questions about embezzlement or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Key Topics Discussed:

Deductible expenses for rental properties
Depreciation recapture and tax strategies
Harvesting tax losses effectively
Common tax mistakes to avoid
Audit red flags: meals, travel, and auto expenses
Community property state tax impacts
Business property tax explanations
Impact of volunteer services on taxes
Importance of communicating with your CPA
Real-world tax miscommunication examples

Why Every Dentist Needs to Know Their Practice's BAM

Thu, 06 Mar 2025 06:00:00 -0500

In this episode of Beyond Bitewings, hosts Robert and Ash discuss the essential financial concept of BAM, or the Basic Amount of Money needed to operate a dental practice. This isn't just another metric like production per hour; BAM is crucial for ensuring that a practice is financially healthy and meeting all its obligations. Unlike a simple break-even point, BAM includes not only overhead costs but also salaries, loan repayments, and even the financial goals of the practice owner, such as retirement contributions. The episode emphasizes how understanding and setting an accurate BAM figure can also play a role in establishing a fair bonus system for practice staff, aligning financial goals across the team.

Robert and Ash explore the components that make up the BAM, including considerations for future expenses such as new hires, potential rent increases, and loan payments. They also discuss the importance of setting realistic and achievable financial goals, which take into account both historical financial data and future projections. The conversation highlights that calculating BAM annually is a best practice to accommodate changes like market growth and inflation. Lastly, they touch on personal financial goals—like charitable contributions or income for family members—and whether they should be factored into BAM calculations.

Key Topics Discussed:

Definition and importance of BAM (Basic Amount of Money)
The difference between BAM and break-even
BAM's significance in establishing staff bonuses
Considerations for calculating BAM, including future expenses
Ensuring BAM is realistic and achievable
Impact of loan payments, rent, and retirement contributions on BAM
Personal financial goals in BAM calculations
Annual recalculation and projection adjustments for BAM

Protecting Your Dental Practice from Embezzlement

Thu, 20 Feb 2025 06:00:00 -0500

In this episode of Beyond Bitewings, the team at Edwards & Associates is joined by Allen. Schiff to discuss the prevalent issue of embezzlement in dental practices. Alan, the president of the ADCPA and a certified fraud examiner, shares his insights on the unexpected frequency of embezzlement cases, stating that one in six dental practices will experience or have already experienced embezzlement. Alan explains common signs that business owners can look out for, such as behavioral changes in trusted employees and discrepancies in financial records. The conversation emphasizes the importance of not immediately terminating suspected employees to allow for proper investigation and gathering of evidence.

They also offer practical strategies for minimizing the risk of embezzlement. This includes segregating financial duties among staff to prevent any one individual from having too much control, regularly reviewing day sheets, and ensuring robust internal controls like setting audit trails at the highest level in practice management software. Alan highlights the psychological deterrents, such as having doctors visibly review financial statements and records, and discusses the complications of background checks due to unreported offenses.

Key Topics Discussed:

Understanding dental practice embezzlement frequency
Recognizing behavioral signs of embezzlement
Importance of independent investigation
Strategies for minimizing embezzlement risk
Setting internal controls and segregation of duties
Psychological deterrents in financial monitoring
Common types of fraud in dental offices
Challenges in prosecuting embezzlement cases
Tips for effective fraud prevention and detection

Secrets to Growing Your Dental Practice with Google Reviews and Local SEO

Thu, 06 Feb 2025 06:30:00 -0500

Have you ever noticed when you search for something near you on Google, there are always 3 places that pop up on a map? That's called the Google 3-Pack, and it's the key to having Google become a lead-generating machine for your business.

In today's episode of Beyond Bitewings, Ash welcomes Darren Tessitore, CEO of Thrive Reviews, to unravel the mysteries of local SEO and how to maximize your Google Business Profile to drive traffic.

Darren sheds light on the importance of frequent updates, active social media engagement, and strategic use of customer reviews to climb up the rankings of the Google Map 3-pack and soar above your competitors without paid ads.

Darren also provides crucial tips on the importance of commenting on reviews while remaining HIPAA compliant. He also talks about how you can incentivize your staff to encourage and ask for reviews, and why it's an important factor when staying on top of Google's local search.

To get in contact with Darren, you can visit https://thrivereviews.net/ or call him at 727.300.1084

If you have specific questions about any of these topics for your practice, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team. Please also contact us to find out more about Ash's financial course.

Visit us at: https://EandAssociates.com

Episode Breakdown:

The Importance of Google Business Profiles
The science of optimizing Google Business for top-ranking
Google marketing strategy to boost local rankings
The importance of social media to your Google Profile
Automated updating, posting, and review management
The importance of understanding HIPAA to ensure compliance and avoid lawsuits.
Lowering the cost for customers

How Payment Processing Fees Are Hurting Your Profits (Replay)

Thu, 23 Jan 2025 06:00:00 -0500

Are you overpaying on your credit card processing fees?

Most dental providers have no idea how much they're overpaying on their processing fees, losing them, literally, thousands of dollars of their bottom line each year.

In this episode of Beyond Bitewings, Ash welcomes Jeremy Lessaris, founder and CEO of Payment Brokers, a fintech company specializing in AI-enabled cost reductions within the payment processing industry. With a background as a seasoned entrepreneur who has successfully built and exited eight companies across diverse sectors like tech, SaaS, payments, and healthcare, Jeremy brings a wealth of expertise to the table.

Jeremy offers some history of the payment processing industry, revealing pricing tactics that can burden small to medium-sized enterprises, including dental practices. He also shares his journey from being affected by high credit card processing fees to creating a solution that helps businesses avoid these pitfalls. Through Payment Brokers, Jeremy utilizes advanced machine learning tools to analyze merchant statements and negotiate better rates for clients, ensuring significant savings without requiring businesses to switch providers or disrupt their operations.

They also touch upon Jeremy's entrepreneurial journey, the importance of sound advisory, and how addressing small operational costs can lead to massive impacts on business valuation, especially for those planning an exit strategy.

To find out more about Jeremy, visit: paymentbrokers.com.

Key Topics Discussed:

Origin and mission of Payment Brokers
Challenges in the payment processing industry
AI and machine learning applications
Specific advice for medical and dental practices
Importance of good advisory support
Insights from Jeremy’s entrepreneurial journey
Cost-saving strategies for businesses

Creating a Strong Dental Startup Team

Thu, 09 Jan 2025 06:00:00 -0500

In this episode of Beyond Bitewings, Ash welcomes Bank of America's Adam Schenck to discuss the vital steps involved in acquiring or starting a dental practice.Ash and Adam cover a wide range of crucial topics, particularly focusing on the significance of building a knowledgeable team. This team should include industry-specific professionals like CPAs, lenders specializing in dental loans, and insurance advisors. Adam emphasizes that having this team not only makes the daunting process of starting a practice more manageable but also ensures that aspiring dental practice owners are well-prepared for their most significant investment yet.

Adam provides insight into the practicalities of obtaining a practice loan. He explains the importance of cash flow management and the role of working capital loans in covering initial operating expenses such as staff salaries and supplies. Further, the episode compares starting a new practice from scratch versus acquiring an existing one. Adam advises keeping all options open and stresses the importance of fact-checking and consulting with experts to make informed decisions.

To connect with Adam, you can email him at Adam.Schenck {at} bofa.com

If you have specific questions about embezzlement or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Key Topics:

Importance of building a knowledgeable team
Steps before applying for a practice loan
Understanding cash flow and personal finances
Role of working capital loans
Comparing starting a new practice vs. acquiring an existing one
Tips for finding the perfect practice location
Importance of fact-checking information

How to Secure Dental Practice Funding

Thu, 26 Dec 2024 06:00:00 -0500

Ash sits down with Danielle from Huntington Bank to answer pressing questions about dental practice loans. Danielle shares insights into the two main types of loans available for dentists: startup loans and acquisition loans. For dental students and new graduates, she emphasizes the importance of living within their means and maintaining a healthy financial profile to secure startup loans without needing high down payments. She also talks about the importance of producing enough to sustain overhead costs and the nuances of working capital.

Danielle also touches on practice acquisitions and how they are significantly different from startups. She explains the various factors lenders consider, such as production capacity, cash flow, and personal lifestyle, to ensure the practice can support itself. Additionally, Danielle outlines the benefits and considerations for refinancing existing loans, discussing how it can aid in practice expansion despite higher interest rates.

If you have specific questions about embezzlement or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Key Topics Discussed:

Preparation for applying for a loan
The importance of living within one’s means
Types of dental practice loans: startups vs acquisitions
Role of student debt in loan approval
Criteria for securing a startup loan
Significance of working capital
Current lending climate and interest rates
Practice acquisitions and sustainability
Importance of lender specialization in the dental industry
Benefits and process of refinancing

Effective Strategies for Selling Your Dental Practice

Thu, 12 Dec 2024 05:00:00 -0500

In this episode of Beyond Bitewings, host Ash welcomes special guest Steve Hipson from DDSmatch.com, a professional dental practice broker with over 25 years in the dental industry. The discussion focuses on what you need to know before selling a dental practice and the steps necessary for a smooth transition. Steve explains how his company assists dental practice owners in planning their retirements and transitions by using a structured approach that starts 3 to 5 years before the intended sale. This approach ensures that practices retain or even enhance their value leading up to the sale.

Steve discusses the importance of evaluating key performance indicators like revenue trends and properly calculating EBITDA. He notes the difference in sale dynamics between private practice sales and those involving Dental Service Organizations (DSOs). Confidentiality and a meticulous planning process are essential aspects of Steve’s service, ensuring that practice owners can sell without causing unrest among staff and patients.

To find out more visit: https://ddsmatch.com

If you have specific questions about embezzlement or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Key Topics Discussed:

Role of a Dental Practice Broker
Importance of networking and experience in dentistry
Transition planning for dental practice sales
Working with DSOs versus independent buyers
Importance of EBITDA and practice valuation
Confidentiality in selling a dental practice
Contact information for Steve Hipson and ddsmatch.com

From Burnout to Balance: The Locum Tenens Solution for Dentists

Thu, 28 Nov 2024 06:00:00 -0500

Welcome to another episode of Beyond Bitewings, where Ash is joined by two special guests, Shelby and Sarah, from Barton and Associates, the 4th largest staffing agency in the United States.

They explore the often overlooked yet crucial topic of locum tenens in dentistry. Shelby and Sarah share insights on what locum tenens is, its benefits for both new grads and retired dentists and how it offers flexibility and opportunities to travel.

They also discuss the process of getting started and the unique ways their agency supports dentists, including handling licensing and credentialing and offering tax seminars. Whether you're curious about locum tenens work or just want to hear about some fascinating stories from the field, this episode is packed with valuable information.

To connect with Barton and Associates, visit: https://www.bartonassociates.com/

Key Topics Discussed:

Introduction of guests from Barton and Associates
Definition and concept of locum tenens in dentistry
Benefits for new graduates and retired providers
Support for start-up practices
Logistical support, such as credentialing and licensing
Importance of building relationships with providers
Accommodation of personal needs, including family and pets
Payment processes via Barton and Associates
Tax considerations for locum tenens dentists

Cash Flow and Equity: Investment Tips for Dental Professionals

Thu, 14 Nov 2024 06:00:00 -0500

Welcome to another episode from the Southwest Dental Conference where Ash sits down with Paul Montelongo, founder of Montelongo Capital, an investment firm based in San Antonio, Texas. They discuss Paul’s background and expertise in real estate investment, focusing on cash-flowing properties such as apartments, self-storage, and oil and gas assets. Paul talks about how Montelongo Capital partners with business owners, including dentists and physicians, to invest in these assets that offer regular cash flow, significant equity growth, and substantial tax benefits.

The conversation also covers the dynamics of multifamily syndicates—a key investment strategy for Montelongo Capital. Paul explains the role of both general and limited partners in these deals, emphasizing the benefits of passive income and tax advantages for busy professionals. He also details current investment opportunities, including a promising property in Corpus Christi, Texas, projected to offer a 20% annual return on investment.

To find out more, you can visit: montelongocapital.com

If you have specific questions about embezzlement or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team. (https://www.EandAssociates.com)

Key Topics Discussed:

Cash-flowing investments and their benefits
Tax benefits for business owners and passive investors
Differences between General Partners and Limited Partners
Transition from single-family to multifamily investments
Typical holding periods and return timelines for investments
Quarterly distributions and investor returns
Current investment opportunities in Corpus Christi, Texas
Risk management and market leverage
Treating real estate investments as businesses

The Importance of Cyber Security for Modern Dental Practices

Thu, 17 Oct 2024 06:00:00 -0500

In this episode of Beyond Bitewings, Lynn sits down with Duane Gallup from Vital Technology Group, a specialist in dental cyber security. Duane shares insights into the evolution of their company from a Managed Service Provider (MSP) to a Managed Security Service Provider (MSSP), focusing heavily on security issues within dental practices. The discussion highlights several misconceptions in the dental industry about cyber security and stresses the importance of having robust systems and professional oversight.

Lynn and Duane cover crucial elements of cyber security such as the importance of secure DNS, backup systems, phishing prevention, and compliance with HIPAA and PCI regulations. They also share anecdotes about real-world security risks and the impact of compromised systems on dental practices. Duane emphasizes the need for dental practices to use professional IT services rather than relying on DIY methods while detailing the range of products and services his company offers to help mitigate these risks.

For more information about Duane, visit: https://vtgtx.com/

Key Topics Discussed:

Introduction to Vital Technology Group
Cyber security threats in dental practices
Importance of secure DNS
User-initiated security risks
Real-life examples of phishing and cyber attacks
Ethical hacking
Evolution of ransomware
Compliance with HIPAA and PCI
Importance of professional IT services
Tools and services offered by Vital Technology Group
Cost-effectiveness of consolidating cyber security tools

From Classroom to Clinic: Navigating Life After Dental School

Thu, 03 Oct 2024 06:00:00 -0500

In this episode of Beyond Bitewings, Ash sits down with Sarina Arzani, a third-year student at A&M College of Dentistry. Sarina shares her experiences and the common concerns many dental students face as they approach graduation. They discuss navigating the less-discussed business aspects of dentistry, particularly for those looking to start their own practice. Sarina shares the importance of early preparation, building a strong support network, and consulting with experts to ensure a smooth transition from student to professional.

Ash offers insights on key steps dental students should take, such as engaging with financial advisors, insurance agents, and forming study clubs. They explore the significance of creating a reliable team and how networking and social media, as highlighted by Sarina's own experience as an influencer, play a pivotal role in today's dentistry world. The episode serves as a valuable resource for dental students to mitigate the overwhelming aspects of launching their careers by gathering practical advice and industry knowledge.

To find more info or follow, visit: https://www.instagram.com/Dentistrybysarina/

Key Topics Discussed:

Importance of business knowledge for dental students
Building a team of experts and networking
Early preparations during the D3 and D4 years
Free contract review services for dental students
Role of social media and influencer marketing in dentistry

Navigating Business Deductions: Common Tax Questions Answered

Thu, 19 Sep 2024 06:00:00 -0500

We're bringing back some of your most common questions about write-offs and tax deductions for dental practice owners. Ash is joined by Lynne and Lorainne Kent to talk about a broad array of topics, including the nuances of business expense deductions, home office claims, and considerations for travel-related deductions. They also discuss the protocols for handling cash receipts, with Lorraine stressing the importance of proper record-keeping to avoid tax evasion issues. Lynne provides insights into the complexities of vehicle write-offs and the constraints around EV tax credits, especially for high-income earners.

The episode touches on the misconceptions around adding AirBnB's to a portfolio and what you can write off, handling gifts and business etiquette, especially during festive seasons. They also talk about how important it is to not withhold income from the IRS, and why you need to be careful of red flags on your taxes.

And as always, make sure you consult with a tax professional.

Key Topics Discussed:

Vehicle Write-Offs
Business Expense Deductions
Handling Cash Receipts
Deducting Travel and Meals
Home Office Deductions
Combining Airbnb with Farming Activities
Gift Tax Rules and Business Etiquette
Documentation and IRS Audits
Importance of Consulting Tax Professionals

Essential Tips for Dental Practice Purchases and Sales

Thu, 05 Sep 2024 06:00:00 -0500

In this episode of Beyond Bitewings, Ash welcomes Jennifer Page from Carr, a commercial real estate firm specializing in healthcare transitions, including practice purchases and sales. Jennifer shares her insights on the unique aspects of representing healthcare professionals in real estate transactions.

She explains why dental practice owners must engage real estate agents who specialize in their industry and avoid conflicts of interest by not representing landlords. This episode highlights the importance of timing in lease renewals and relocations, emphasizing starting the process well in advance.

Jennifer outlines several common mistakes healthcare practitioners often make in commercial real estate, such as not giving themselves enough time to negotiate and treating commercial transactions like residential ones. She also discusses how Carr supports their clients with lease abstractions, vendor partnerships, and even connecting them with experts in lending, accounting, and contractor services.

To learn more about Carr or to connect with Jennifer, visit: Jennifer.Page{at}Carr.us.

Key Topics Discussed:

Importance of specialized healthcare real estate agents
Avoiding conflicts of interest in transactions
Timing for lease renewals and relocations
Common mistakes in commercial real estate
Lease abstraction services
Vendor partnerships and additional support
Cost benefits of using professional real estate agents
Support for DSOs and larger healthcare groups

Transitioning to Cash-Based Services and Boosting Profitability

Thu, 22 Aug 2024 06:00:00 -0500

Ash welcomes Jessica Jones, CEO and founder of Build Your Cash Medical Practice. to discuss various strategies for building stronger relationships with clients and optimizing business operations. Jessica shares insights from her extensive background, including her experience in marketing and managing medical practices. The conversation addresses the importance of remembering personal details about clients, understanding staff strengths, and implementing effective incentive programs to boost staff engagement and retention.

Jessica also touches on the challenges of transitioning to cash-based services and navigating the complexities of financial management. They discuss the need for clarity, simplicity, and vigilance to avoid financial malpractice. They also talk about marketing strategies and the importance of patient experience, offering practical tips on how to allocate funds for marketing and the significance of personalized care.

To learn more and connect with Jessica, visit: https://buildyourcashmedicalpractice.com/

Key Topics Discussed:

Importance of client relationships
Staff engagement and incentive programs
Transitioning to cash-based services
Financial management and risk prevention
Marketing strategies and ROI
Delegation and time management
Adapting to external business factors

Solving Common Dental Practice Challenges with Virtual Assistants

Thu, 08 Aug 2024 06:00:00 -0500

In this episode of Beyond Bitewings, Ash welcomes Beth Lachance, CEO of Global Medical Virtual Assistants and shares the journey of her company and how virtual assistants can become a critical component for managing administrative work in dental and medical practices. She recounts how her medical background and a chance involvement in virtual assistance for the real estate sector led her to realize the vast potential for similar services in healthcare. Beth outlines various roles that virtual assistants can occupy, from handling front desk duties to managing complex administrative tasks like insurance verifications and revenue cycles.

Ash and Beth discuss the challenges faced by dental practitioners, especially those juggling clinical and administrative responsibilities. They also discuss the cost-effectiveness and efficiency of virtual assistants, especially as practices contend with fluctuating staffing needs in the post-COVID era. Beth also breaks down the financial advantages, explaining how their services are a fraction of the cost compared to traditional staff.

To learn more, visit: https://globalmedicalva.ph/

Key Topics Discussed:

Administrative roles for virtual assistants

Challenges of managing a dental practice

HR and workforce management post-COVID

Cost-effectiveness of virtual assistance

Proven success of virtual staffing solutions

Detailed cost comparison and savings

Enhancing existing staff and practice management

Understanding the New Federal Salary Regulations for Exempt Employees

Thu, 25 Jul 2024 06:00:00 -0500

In this episode of Beyond Bitewings, Ash and Lynn welcome Paul Edwards to discuss the complexities of the recent ruling concerning exempt employees. They talk about the court decision that allows for a salary raise effective July 1st. The discussion explores strategies for managing salary adjustments, particularly the implications of shifting employees from exempt to nonexempt status and the importance of transparent communication during such transitions.

The conversation also touches on broader HR advice, emphasizing the crucial role of consulting experts in navigating employee classifications accurately. They also discuss the need to manage overtime carefully and the strategic importance of proper employee classification to meet both compliance and business needs. Paul shares insights on the upcoming raise in minimum salary requirements and the varied regional impacts of these changes on businesses. Lynn highlights the need for small business owners to seek professional HR guidance while also recommending additional resources for staying informed and compliant.

To connect with Paul and listen to his podcast, visit: https://www.cedrsolutions.com/hr-podcast/

Key Topics Discussed:

Court ruling on salary raise
Challenges of salary adjustment retraction
Employee status change from exempt to nonexempt
Importance of transparent communication
Managing overtime for nonexempt employees
Evaluating exempt status
Impact of minimum salary increases
HR advice for small businesses
Employee classification and payroll considerations
Resources for additional HR guidance

The Biggest Challenges of Dental Offices - Part 3

Thu, 11 Jul 2024 06:00:00 -0500

The conversation continues as we jump into part 3 of this 3 part series discussing some of the biggest issues dentists are facing, and what you can do about them.

The conversation kicks off with a deep dive into the mental well-being of dentists and the pervasive issue of burnout. Erin shares her views on hustle culture, emphasizing the importance of intentional rest and a balanced approach to work and personal life. Both highlight the necessity of efficient time management and implementing systems for a more streamlined workflow.

The discussion also explores the transformative role of AI in dentistry, from streamlining patient relationships to aiding in diagnosis and treatment planning. Ash and Erin talk about the rapid advancements in AI technology. The episode wraps up by addressing practical business concerns such as patient no-shows, adapting to new dental technologies, and securing patient data against cyber threats. The importance of having a reliable support staff and strategic marketing efforts to retain patients is also discussed, providing listeners with actionable insights to implement in their practices.

Key Topics Discussed:

Mental well-being and burnout in dentistry
Hustle culture and work-life balance
Efficient time management techniques
AI advancements and their impact on dentistry
Technologies like 3D printing, digital impressions, and laser dentistry
Intraoral cameras for better diagnosis and treatment planning
Managing last-minute patient cancellations
Navigating insurance plans and reimbursement rates
Importance of support staff and marketing efforts

The Biggest Challenges of Dental Offices - Part 2

Thu, 20 Jun 2024 06:00:00 -0500

In this episode of Beyond Bitewings Ash and Erin continue their discussion on some of the biggest challenges dentists face today. Picking up from where they left off, Ash and Erin discuss how independent dental practice owners can compete with corporate dental organizations (DSOs) and private equity firms. The conversation shifts to the importance of focusing on the qualitative aspects of business, such as relationship dentistry, job satisfaction, and patient care, which can give smaller practices an edge over DSOs that are driven by numbers.

The episode also discusses the growing demand for cosmetic procedures and the need for dental practices to adapt to these trends. Ash shares insights on how incorporating new technologies and equipment can not only keep practices up-to-date but also make them more cost-effective. Finally, they discuss the crucial role of patient communication and engagement, highlighting the importance of continuous staff training and maintaining a user-friendly online presence for scheduling and other services.

Key Topics Discussed:

Competing with Corporate Dental Organizations
Importance of Qualitative Aspects in Dentistry
Personal Touches in Patient Care
Incentivizing and Engaging Staff
Financial Metrics and Team Performance
Shift from Routine Care to Cosmetic Procedures
Influence of Social Media on Cosmetic Dentistry
Statistics and Market Growth in the Dental Industry
Adapting to Patient Needs and Trends
Partnering with Distribution Vendors

The Biggest Challenges of Dental Offices - Part 1

Thu, 06 Jun 2024 06:00:00 -0500

Dentistry can be rewarding, but just like with any other business, it comes with some obstacles. So how do you overcome some of the biggest challenges?

This episode is part 1 of a 3-part discussion covering some of the biggest challenges dentists face. Ash is joined by Erin Gregor, and they talk about the importance of standing out by creating meaningful experiences in the workplace. Emphasizing personalized interactions and the idea that employees should feel integral to a larger mission, extending beyond mere job duties. They also talk about impactful strategies such as the use of incentives and bonuses to encourage staff, the role of personalized client interactions, and the increasing demand for cosmetic dentistry, including potential expansions into Botox treatments.

They also discuss creative hiring practices, such as targeting flexible-working mothers, utilizing job boards like Indeed and ZipRecruiter, and leveraging non-traditional recruitment avenues, including closed Facebook groups and local study clubs. The episode unpacks the pandemic’s effects on the dental world, including the significant hygienist shortages and the rising staffing costs. Ash and Erin also stress the importance of focusing on company culture, offering competitive benefit packages, and staying current with technological advancements. By understanding the evolving landscape, dental practices can better align with customer needs and maintain a competitive edge.

If you have specific questions about embezzlement or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Key Topics Discussed:

Creating meaningful experiences at work
Importance of personalized client interactions
Incentives and bonuses for staff engagement
Growth of cosmetic dentistry and potential for Botox
Innovative hiring practices, including flexible work options
Impact of the pandemic on dental staffing and rising costs
Offering competitive benefits and compensation

Why Hidden Payment Processing Fees Could Be Hurting Your Profits

Thu, 23 May 2024 06:00:00 -0500

Are you paying more than 2.2% for your payment processing fees? If the answer is yes, you may be losing a lot of money.

In this episode of Beyond Bitewings, Ash welcomes Jeremy Lessari, founder of Payment Brokers. Jeremy shares his entrepreneurial journey and how he negotiated his payment processing fees down after discovering companies kept raising rates.

After selling his last company, he decided to utilize AI technology and created Payment Brokers, a service that monitors payment processors' fees for small businesses. The company will notify businesses of increases, and also help to negotiate the lowest rates.

Jeremy and Ash also talk about why he became an entrepreneur and how so much changed once he found ways to make a difference vs. making money.

To connect with Jeremy, visit: PaymentBrokers.com

If you have specific questions about embezzlement or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Navigating the Hidden Signs of Embezzlement in Your Business

Fri, 10 May 2024 06:00:00 -0500

Do you believe embezzlement would never happen within your business?

Well, unfortunately, the chances of it happening to you are actually a lot greater than you think. In fact, 75% of dental practice owners will experience embezzlement in their office before their career is over.

So what can you do to prevent embezzlement, and what are the signs that you should look for to see if this might be happening to you? The team at Edwards and Associates is joined by David Harris. David is a Certified Fraud Examiner and a Licensed Private Investigator, certified in Financial Forensics. He’s also the author of Dental Embezzlement: The Art of Theft and Science of Control.

David discusses what every dental practice owner should understand about embezzlement and the two types of people who decide to take money from their employer.

He also discusses the signs you can look for, including behaviors, or things going on in someone’s life that may make them a prime candidate to embezzle. Plus he talks about what you should be looking at in your practice on a frequent basis to make it harder for someone to take money from you.

This is definitely something you shouldn’t be sitting on, thinking it’s not going to happen to you, and as your practice starts to grow, the greater chance you have of becoming a statistic.

If you’re interested in learning more about David, visit: www.prosperiden.com or call: (888) 398-2327.

If you have specific questions about embezzlement or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Financial Benchmarks for Successful Dentists

Thu, 25 Apr 2024 06:00:00 -0500

*In this episode of Beyond Bitewings, Robert and Ash talk numbers, but it’s the good numbers that are crucial to know in order to determine the health of your practice. They talk about the importance of basic financial knowledge and how it can help clients make better decisions.

They touch on the differences in collection percentages based on location, and where you should fall with collections versus take home pay. They also cover marketing budgeting and how it should be based on target collections rather than current collections.

Ash and Robert also discuss why consultants can offer a big return on your investment by helping you see the blindspots in your practice. Plus they discuss rent percentages, and why you may not be able to stay within the national average based on where you live. Additionally, they discuss continuing education expenses, and what you can write off when it comes to travel. Finally, they explore the financial differences between pediatric practices, orthodontists, and general one-dentist practices.

*Replay from 2023

Topics Discussed:

* Impact of consultants on dental practice efficiency

* Real-world example of improved collections

* Financial benchmarks for dentists

* Importance of managing team member expenses

* Marketing strategies for specific dentistry fields

* Educational resources for understanding the business side of dentistry

The Risks and Updates of Claiming the Employee Retention Credit (ERC)

Thu, 11 Apr 2024 06:00:00 -0500

The pandemic was four years ago, so why are we still talking about the ERC (Employee Retention Credit)?

It's a topic that doesn't seem to go away, and so Lynne is joining Ash for another episode to jump into the complexities of this ever-evolving topic. Many are still unclear about the intricacies of ERC eligibility and the recent legal developments affecting those who have claimed it. Lynne breaks down the essential criteria for eligibility, updates on IRS actions, and necessary precautions and responsibilities for dental practice owners.

In other episodes, they have warned of the potential pitfalls of engaging with ERC mills—companies promising easy money through the ERC without proper adherence to the rules. Now, as the situation unfolds, Lynne updates us on the IRS crackdown on invalid claims, criminal prosecutions, and what this might mean for dental practices caught in the middle. She also sheds light on the IRS's recent offer allowing practices to return erroneous claim amounts for a limited-time reduced penalty.

If you're unsure on what steps you should take with your ERC claim or if you have specific questions about any of these topics for your practice, please feel free to reach out to the Edwards & Associates team. Please also contact us to find out more about Ash's financial course. Visit us at: https://EandAssociates.com

Episode Breakdown:

The Employee Retention Credit (ERC) Discussion
Misinterpretation and Abuse of ERC Claims
Criminal Prosecutions
Validity of ERC Claims
Red Flags Identified by the IRS
Voluntary Correction Program Offered by the IRS

What You Need To Know About BOI Reporting Requirements

Thu, 28 Mar 2024 06:00:00 -0500

There's been a lot of buzz about the new Beneficial Ownership Information reporting requirement, but have you filed yours yet? Are you still trying to figure out what it even is?

In this episode, Ash and Lynne discuss a crucial topic that has been making waves in the business world throughout the United States. They discuss FinCEN's new reporting requirement and shed light on who needs to comply, the potential penalties for noncompliance, and the complexities of reporting for different entities.

They also talk about the risks associated with entrusting sensitive information to third-party companies and provide insights for business owners and professionals handling multiple entities. This is definitely something that, as a business owner, you don't want to sleep on, and make sure you take care of as soon as possible.

Visit us at: https://EandAssociates.com

Key Topics:

Introduction to BOI
Categories of Entities Subject to BOI
Penalties and Filing Deadlines
Responsibility for Compliance and Potential Risks
Additional Considerations for Complex Business Structures
Forms and Filing Process

The Secrets to Generating a Stream of Clients From the Google 3-Pack

Thu, 14 Mar 2024 06:00:00 -0500

In today's episode of Beyond Bitewings, Ash welcomes Darren Tessitore, CEO of Thrive Reviews, to unravel the mysteries of local SEO and how to maximize your Google Business Profile to drive traffic.

To get in contact with Darren, you can visit https://thrivereviews.net/ or call him at 727.300.1084

Visit us at: https://EandAssociates.com

Episode Breakdown:

The Importance of Google Business Profiles
The science of optimizing Google Business for top-ranking
Google marketing strategy to boost local rankings
The importance of social media to your Google Profile
Automated updating, posting, and review management
The importance of understanding HIPAA to ensure compliance and avoid lawsuits.
Lowering the cost for customers

Dentist’s Financial Roadmap: Building Wealth Beyond the Practice

Thu, 29 Feb 2024 06:00:00 -0500

Have you considered what you'll really need to create true financial freedom?

In this episode of Beyond Bitewings, Lynne and Ash welcome Eric Miller, co-owner of a national financial planning company dedicated to serving the needs of healthcare owners. They discuss why it's so important for dental practice owners to think beyond just the month-to-month expenses and plan for their future.

Eric shares insights on managing finances for medical professionals and the importance of integrating the cash flow of a dental practice with personal finances. Plus, they talk about the roles dental practice owners should play as practitioners and investors. He emphasizes the need for owners to receive fair compensation from their practices and how they can use their business as a vehicle to create multiple income streams and build the life they desire. He also discusses the various investment opportunities, such as stocks, real estate, and insurance-based products, to help dental professionals secure their financial future.

To find out more and connect with Eric, you can find him at: www.econologicsfinancialadvisors.com

Visit us at: https://EandAssociates.com

Episode Breakdown:

Why it's important to understand your practice to improve personal finances
How to find investments that benefit your household's finance
How owner compensation should be linked to practice income but also more
Getting out of the race of the practices needs to make more money to survive.
Why moving money is the key to retiring wisely
Diverse investments create multiple income sources for retirement
Financial advisors help people plan for retirement

Improving Leadership and Organizational Effectiveness in Dentistry

Thu, 08 Feb 2024 06:00:00 -0500

Imagine having a process in place where you set up your team to handle conflict resolution and address issues more easily? Or what if you could easily be able to identify the right team members to hire?

It may feel too good to be true, but it's a system that many businesses throughout the world use to clarify, simplify, and achieve their vision. In today's episode of Beyond Bitewings, Ash welcomes EOS implementor Jeff Schafer to discuss how dental practices could use this system to grow a better and stronger practice.

They talk about the role of the Entrepreneurial Operating System (EOS) in enhancing leadership, management, and overall organizational effectiveness and give examples he's seen in different companies, but especially dental practices. They also talk about why company values are crucial to creating the right culture and fostering team cohesion, building organizational health, and ultimately driving business success within the dental industry.

To find out more and look up Jeff, visit: https://www.eosworldwide.com/implementer

If you have specific questions about any of these topics for your practice, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Visit us at: https://EandAssociates.com

Episode Breakdown:

After selling a business, why Jeff was rehired and grew the business, and became a successful coach
Emphasizing core values for building dream teams
Why core values are crucial for employee alignment
The book "Good to Great" by Jim Collins emphasizes core values and right people in the right seat
Simplify systems and focus on key functions
Creating discipline and accountability to solve issues
The People Analyzer tool validates core values, facilitates conversations
Teach and execute efficient business strategies

Implementing EOS tools can help achieve business objectives.

Choosing the Right Dental Distribution Partner: 5 Essential Tips for Your Practice Success

Thu, 25 Jan 2024 06:00:00 -0500

Do you feel confident that you have the best dental distribution partner for your dental practice?

In today's episode, Ash is joined by Jeff Van Hess, a sales rep for Patterson Dental, who talks about five tips for choosing a reliable dental distribution partner.

Jeff discusses crucial factors to consider, such as the significance of tenure, building relationships, distribution center proximity, financing capabilities, loyalty programs, and the importance of trust in the relationship. Additionally, Jeff provides an exclusive preview of the latest advancements in dental equipment and the changing dynamics of the market.

To learn more or to connect with Jeff, visit: www.pattersondental.com

Visit us at: https://EandAssociates.com

How To Create Competitive Benefits Packages For Your Employees

Thu, 11 Jan 2024 06:00:00 -0500

Have you lost employees because another practice offered better benefits packages?

If you wonder how you can create a more competitive package for your employees but feel it's too expensive or your office isn't large enough, we may have a solution.

Today, Ash is joined by Michael Battaglia. Michael is the owner of Insure You Too, a company that helps small businesses create benefits packages for their employees, and he works with companies as small as four employees.

Michael and Ash discuss why a one-size-fits-all package is not what you want to create for your employees and why it's essential to understand what they need before offering anything. They also talk about the options you should consider before putting together options.

Michael offers valuable insights into the strategic aspects of benefits administration and emphasizes the significance of understanding the human impact behind the numbers.

If you're interested in potentially offering benefits, you can connect with Michael at https://insureyoutoo.com/

Visit us at: https://EandAssociates.com

Year-End Financial Planning: Tax Tips and Milestones for Dental Practice Owners

Thu, 21 Dec 2023 06:00:00 -0500

As we get ready for another year to close, have you taken full advantage of tax-saving opportunities?

In this episode, Ash breaks down everything you need to know before the year ends to ensure you’re setting yourself up for success when tax season comes.

Ash covers topics ranging from retirement accounts, proper tax deductions, and ensuring you’re taking full advantage of tax savings but still not doing anything that would worry the IRS. Ash also discusses COVID-related financial assistance and why you need to make sure you’re reporting any help you may have received. Plus, he talks about something you may not have considered regarding the long-term planning of your business and some of the money you may have received from the PPP loan.

Be sure you listen before you jump into the new year (or this is an excellent review as you start the following year). Saving money is always a good thing!

Visit us at: https://EandAssociates.com

The Secret to Streamlining Dental Practices

Wed, 06 Dec 2023 09:00:00 -0500

Does technology sometimes feel like it's causing more confusion and work in your practice?

In this episode of Beyond Bitewings, host Ash welcomes a special guest, Megan Sak, a former hygienist who has transitioned into the sales world of dentistry. Megan discusses the world of practice management software, with a specific focus on Archy, a cloud-based platform. She talks about the benefits of Archy over traditional software, the complexities of data migration, and the importance of efficient and user-friendly support systems. Megan also sheds light on the unique feature of Archy integrating with a well-known payroll service to streamline practice operations.

If you feel like you're spending more time on all of the technology in your practice, then make sure you're using the right software for you.

You can find out more about Archy by visiting: https://www.archy.com/

Visit us at: https://EandAssociates.com

Finding Opportunities to Bridge the Gap in Dental Staffing

Thu, 16 Nov 2023 06:00:00 -0500

What lengths would you go to to fix a problem that’s affecting quite a few others within your industry?

In this episode of Beyond Bitewings, Ash welcomes Dr. Joseph Hull of Hull Dental Health. Dr. Hull is a dental practice owner in a more rural area of South Dakota, and discusses the problems with finding qualified staff, especially after the pandemic.

Instead of accepting things as is, Dr. Hull decided to find ways to improve the situation by finding new solutions and seeing what he would do to make his own state change laws and offer further training. This law would teach dental assistants to provide coronal scaling or scaling of the teeth above the gum.

This would help alleviate some of the problems with staffing he’s been experiencing in his practice. After seeing other states have been allowing this for quite some time and other states are just passing their law allowing it, Dr. Hull is trying to push for more states to do the same. He has now talked to his association for the state of South Dakota and is working on other ways to help figure out how they can implement this.

This is an excellent example of leading and trying to have an impact on something bigger than just what’s happening in your office. It’s also about helping others in an impactful way.

Visit us at: https://EandAssociates.com

Dental Marketing Demystified: How to Drive Growth and Stand Out in the Industry

Thu, 02 Nov 2023 06:00:00 -0500

How soon should you start seeing results from your marketing company?

In this episode of Beyond Bitewings, Ash welcomes Brandon Hubbard, Founder of Pain-Free Dental Marketing to talk about what every dental practice should know about marketing.

They discuss the ins and outs of marketing expenses in dental practices, and they shed light on the essential aspects that play a role in successful marketing, such as building trust, effective communication with marketing firms, and the emotional connections that patients make when choosing a dentist. From appointment reminders to content generation, they discuss the various elements that contribute to exceptional patient experiences and the overall success of a dental practice.

Plus, they discuss the marketing budget, address misconceptions about SEO, and offer valuable insights into measuring the effectiveness of marketing efforts.

To connect with Brandon and Pain-Free Dental Marketing, visit: https://www.painfreedentalmarketing.com/.

Visit us at: https://EandAssociates.com

The KPIs Every Dental Practice Owner Should Measure Part 2

Wed, 18 Oct 2023 09:00:00 -0500

Is every patient a good patient?

Welcome to another episode of Beyond Bitewings, where we welcome Rick Willeford, a dental CPA with 40 years of experience and the founding president of ADCPA, for a second part of our conversation. In this episode, Rick continues his conversation about KPIs for practice owners and gets more in-depth about what metrics you should look at and why only some patients are great.

Rick also talks about the desire to stop working with PPOs and the fear and belief that it's impossible. He also discusses the importance of accurate statistical calculations, the benefits of leaving dental plans, and the potential impact on patient retention. Plus, he and Ash talk about the human factor of your numbers and why personality and interpersonal skills are crucial even in a business like dentistry.

This is part 2 of our 2-part conversation with Rick, as he gave so much fantastic information in this interview.

Visit us at: https://EandAssociates.com

The KPIs Every Dental Practice Owner Should Measure

Thu, 05 Oct 2023 06:00:00 -0500

Are you running a practice that you love, or does it feel like your practice is running you?

Welcome to another episode of Beyond Bitewings, where we welcome Rick Willeford, a dental CPA with 40 years of experience and the founding president of ADCPA. Rick discusses his background in electrical engineering and how it eventually led him to become a leader in the world of Dental CPAs.

Rick and Ash discuss key performance indicators (KPIs) and analytics in the dental industry. Rick talks about why being busy isn't always good, and dentists often need to take a deep look into what they really want from their business. He also discusses key metrics that show the proper health of your business, not just how much money you're making. If you're making millions, it doesn't matter if your costs are also millions or if you're running yourself ragged to make any money.

This is part 1 of our 2-part conversation with Rick, as he gave so much fantastic information in this interview.

Visit us at: https://EandAssociates.com

Creating Maximum Efficiency and Success in Your Practice

Thu, 21 Sep 2023 06:00:00 -0500

On this episode of Beyond Bitewings, we are joined by Kiera Dent, a dental practice consultant and host of The Dental A Team podcast. Kiera consults in over 100 dental offices nationwide, and tackles in-person dental office coaching. Her goal is to help clients achieve maximum success and efficiency.

Kiera and Ash talk about why it’s so important to create systems from processes, and why you should find one or two systems that will make the biggest impact on your practice. Plus, they discuss the best way to seek out experts in the industry. Kiera also offers advice about setting a clear vision for your team, and how to set up automation around tasks so the team can work more efficiently.

Keira also talks about why it’s so crucial that dental practice owners know how to manage the business side of their practice by dedicating time to focusing on the business and checking KPIs. She also recommends finding successful people to emulate and filtering through the noise to focus on one or two resources at a time.

Connect with Kiera here: https://www.thedentalateam.com/

Listen to the podcast here: https://www.thedentalateam.com/blog

Visit us at: https://EandAssociates.com

Practice Owners Most Common Tax Questions (Replay)

Thu, 07 Sep 2023 06:00:00 -0500

The tables are turning in this episode of Beyond Bitewings, and the Edwards and Associates team is being asked the questions that so many practice owners want to know. They’re welcoming Prosthodontist Dr. Giancarlo Aymerich to this episode so he can ask all the questions about how he can save more money on taxes for his practice.

They cover common questions about deducting equipment, including when you can deduct equipment, how you can use it as a tax saving, and various cost thresholds. They also cover the common questions about cars including how you can deduct your car as a business expense, and what you need to report to the IRS when it comes to a car’s expenses. Plus, they talk about leasing vs. purchasing and which one is best if you’re using your car as a business expense.

They also talk about when the right time is to switch your company to an S-Corp, and the income thresholds when you typically see the most tax savings. Plus, they cover other strategies to save on your taxes when it comes to retirement accounts for yourself and your employees.

This is the perfect episode to listen to as we enter the last quarter of 2023. Make sure you don't miss out on potential write-offs before the year ends!

If you have specific questions about your expenses on your taxes, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

How Chat GPT Can Help Your Dental Practice

Thu, 24 Aug 2023 06:00:00 -0500

It's hard to go anywhere without hearing about Chat GPT and AI, as everyone is talking about how they're using it in their businesses, from minimal tasks to complex solutions.

However, the question becomes how can you use it to benefit your practice. In this episode, Lynn joins Robert and Ash to discuss the opportunities she has found where dental practices can benefit from Chat GPT.

They also discuss why you need to be careful as this may not be an easy, no-brainer solution since the data it provides is only as good as the data it holds.

There are still great uses for it, including marketing messages, client emails, and job description creation, where Chat GPT will save precious time for you and your staff. It may put something together better than you could have done by yourself.

If you have specific questions about mindfulness, or if you would like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Visit us at: https://EandAssociates.com

What You Should Ask Before Selling to a DSO

Thu, 10 Aug 2023 06:00:00 -0500

Many dentists feel burnout when running their practices and think the answer might be selling to a DSO. After all, they take on the parts of running the business, which leaves being able to do what you enjoy, practicing dentistry.

However, before you decide to make this huge decision, there are quite a few questions you should ask to ensure you’re making the deal that’s best for you.

On this episode of Beyond Bitewings, Ash and Robert are joined by Todd Wilson of Star Dental Partners. Todd discusses how different DSO agreements work in addition to some of the most important questions you should ask before selling.

They also discuss what you can expect to change when selling to a DSO and some key things you should have set up before you’ll be considered.

To learn more and connect with Tim visit: https://stardentalpartners.com/

If you have specific questions about mindfulness, or if you would like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Visit us at: https://EandAssociates.com

Mindfulness 101: Techniques and Practices for a Healthier Mindset in Your Practice

Thu, 27 Jul 2023 06:00:00 -0500

In a world that feels full of chaos, a simple moment of returning to your breath and re-centering yourself can make a world of difference.

In this episode of Beyond Bitewings, Ash is joined by Priyanka, a graduate student at Northwestern University and a counselor in training under supervision at Meltzer Counseling. Priyanka talks about

the importance of intentionality and deliberate practice in our daily lives. When we feel doing our jobs or running our practices can become overwhelming, it’s essential to train our minds to take that moment to better understand ourselves and the world around us.

Throughout the episode, Priyanka and Ash explore various techniques and exercises that can help cultivate mindfulness. They also discuss the significance of having a routine and structure in our lives that allows us to achieve success. They discuss how practicing intentional breathing can help us to create a better environment by creating more intention with our staff and patients.

Priyanka offers practical exercises that can be easily incorporated into our daily routines. From catching ourselves distracted or slumping to taking a deep breath and refocusing, these techniques help us regain our center and stay present. They also suggest starting the day by feeling the ground beneath our feet when getting out of bed, grounding ourselves in the present moment before diving into the day's chaos. Priyanka also offers an exercise that focuses on engaging our five senses.

If you have specific questions about mindfulness, or if you would like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Visit us at: https://EandAssociates.com

Navigating the DSO Landscape: What Dentists Should Know About Selling Their Practices

Thu, 13 Jul 2023 06:00:00 -0500

Are you thinking about selling your practice? Before you sign any agreements or decide to sell to a DSO, you definitely want to have a conversation with Brannon Moncrief.

On this episode of Beyond Bitewings, Brannon joins Robert and Ash to discuss everything dental practice owners need to know before selling their practice and what they need to know before signing any agreements with a DSO.

They discuss the common mistakes dentists make when considering offers from DSOs without exploring other options and the importance of proper representation and shopping the practice to multiple DSOs. They explore the reasons why dentists may consider a DSO affiliation, such as economic reasons, administrative support, or additional capital. However, they also highlight the importance of evaluating the practice's value through EBITDA analysis, as DSOs often manipulate the numbers to their advantage.

Breenon talks about how important it is to not sign any offer or NDA with exclusivity provisions without seeking professional guidance. They talk about how these contracts can hurt a seller but benefits the buyer.

To connect with Brannon, visit: Are you thinking about selling your practice? Before you sign any agreements or decide to sell to a DSO, you definitely want to have a conversation with Brannon Moncrief.

To learn more about Brannon, visit: https://dentaltransitions.com/

If you have specific questions about any of these topics for your practice, or if you would like to have another question answered on a future podcast, please reach out to the Edwards & Associates team. Please also contact us to find out more about Ash’s financial course.

Visit us at: https://EandAssociates.com

A Dentist’s Pursuit of Happiness

Thu, 29 Jun 2023 06:00:00 -0500

When building a practice and a life, it may often feel like times you are alone and the only one going through the issues that arise. However, most of the time you're going through the exact same things others are going through.

In this episode of Beyond Bitewings, Ash welcomes Dr. An White. Dr. White is a dentist serving the Houston community through her practice, Dental Domain. She graduated dental school approximately three years ago and joins us for a candid conversation about what it's been like so far building her own practice, in addition to some of the hard times she has faced in building a practice of her own.

She also talks about how having immigrant parents taught her to not only work hard, but to find joy in the little things. That joy is what has helped her to understand that you have to learn to love the journey and not just be happy when you reach the destination.

Visit us at: https://EandAssociates.com

Knowledge is Power (When Running Your Dental Practice)

Thu, 08 Jun 2023 06:00:00 -0500

Connect with Kiera here: https://www.thedentalateam.com/

Listen to the podcast here: https://www.thedentalateam.com/blog

Visit us at: https://EandAssociates.com

Financial Benchmarks for Successful Dentists

Thu, 25 May 2023 06:00:00 -0500

Do you know how your dental practice is performing compared to the national average?

In this episode of Beyond Bitewings, Robert and Ash talk numbers, but it’s the good numbers that are crucial to know in order to determine the health of your practice. They talk about the importance of basic financial knowledge and how it can help clients make better decisions.

They touch on the differences in collection percentages based on location, and where you should fall with collections versus take-home pay. They also cover marketing budgeting and how it should be based on target collections rather than current collections.

Ash and Robert also discuss why consultants can offer a big return on your investment by helping you see the blindspots in your practice. Plus, they discuss rent percentages and why you may not be able to stay within the national average based on where you live. Additionally, they discuss continuing education expenses and what you can write off when it comes to travel. Finally, they explore the financial differences between pediatric practices, orthodontists, and general one-dentist practices.

Visit us at: https://EandAssociates.com

Building and Optimizing Dental Practices: Current Trends in the Industry

Thu, 11 May 2023 06:00:00 -0500

On this episode of Beyond Bitewings, Robert and Ash discuss current trends in the dental industry. They discuss topics like knowing the benefits of really utilizing the technology you may already own in order to help customers during more convenient times, like after hours. They also talk about why they’re seeing a trend in more dentists shying away from wanting to own their own practice. Plus, they discuss some factors that they’ve seen their clients consider when trying to determine whether or not they should sell their current practice to a DSO. Additionally, they talk about the increase in corporate dentistry and the impact of student loan debt on ownership.

They talk about current issues that they’re seeing their current clients have to overcome, especially around hiring staff, and how you can find the right help for your office. They also discuss whether or not you should consider adding new services to your practice, like BOTOX injections and fillers.

They also discuss the question that seems to be on the mind of every dentist, should they drop insurance. Plus, what is the best way to accomplish this for your practice. Often practice owners are scared because they’re worried they’ll lose patients, but you may not be getting as many patients from it as you think.

If you have specific questions about any of these topics for your practice, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

How To Use Social Media to Grow Your Dental Practice

Thu, 27 Apr 2023 06:00:00 -0500

Do you feel overwhelmed with all that you should be doing for your practice, especially consistently showing up on social media?

On this episode of Beyond Bitewings Robert and Ash welcome guest Erin Gregor, a content and social media marketing strategist, to talk about the risks and rewards of businesses being active on social media. They discuss why you should avoid discussing controversial topics during sensitive times and how to keep social media posts professional and focused on attracting clients.

They also dive into the impact of utilizing current trends to create educational content in the dental industry and how to engage with your audience for increased algorithm ratings. They also cover the importance of authenticity, inclusivity, and standing out in a commodity business. Erin shares tips and tricks for developing a social media strategy, including cost considerations, the value of having a website, and the benefits of paid media.

Join us as we explore the complex world of social media management and how to make it work for your business.

If you have specific questions about how to utilize social media for your practice, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Effective Leadership and Communication for Dental Practice Success

Thu, 13 Apr 2023 06:00:00 -0500

In this episode of Beyond Bitewings, Lynne Leggett, founder of Victory Dental Management, joins the team at Edwards and Associates. Lynne is a Dental Consultant who has a diverse experience with dentistry. She has over 26 years of business experience in several industries including: dentistry, medical, pharmacy, sales, transportation, logistics, and project management.

Lynne talks about the significance of leadership, culture, and communication to achieving success within your dental practice and shares her experience of creating programs for teams. From defining roles and responsibilities to avoiding high turnover rates, Lynne offers actionable steps for dentists to view themselves as coaches, clarify expectations, and engage in effective teamwork.

They also discuss the impact of COVID-19 on dental practices, and she discusses strategies for maintaining transparency, and promoting a work-life balance within your practice. She also talks about how to create a thriving dental practice with a strong team foundation.

To connect with Lynne, visit: https://victorydentalmanagement.com/

If you have specific questions about building a team for your practice, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

How To Handle a Bad Review

Thu, 30 Mar 2023 06:00:00 -0500

Is getting a bad review the end of your practice?

On this episode of Beyond Bitewings, the discussion centers around how dental offices can handle reviews from their patients, both positive and negative. Ash and Robert are joined by special guest, Dr. Sharon Tiger.

They talk about the importance of great reviews, and how to ask for a review without sounding like it’s been rehearsed or read straight from a script. They also talk about what to do when you receive a bad review. (Hint: It’s not the end of the world. In fact, it can actually be a good thing.) They discuss why ignoring the review is one of the worst things you can do, but why you have to be extremely careful in what you say due to HIPAA Compliance. They offer suggested replies that will keep you compliant, but will also address the situation.

They also talk about online review software that can be used to request and populate reviews, and the most important sites to publish your reviews.

Unfortunately, bad reviews are going to happen as you can’t please everyone. However, as long as you handle the review correctly, and use it as constructive criticism, they just may end up being a positive thing for your practice.

If you have specific questions about handling reviews for your practice, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

How To Improve Patient Experience

Thu, 16 Mar 2023 06:00:00 -0500

In this episode of Beyond Bitewings, Robert and Ash discuss the changes you can make in your business to improve patient experience. Consequently creating a friendly environment where the patients look forward to coming back and actively refer others to your practice. Don’t forget it costs much less to retain an existing patient than to bring a new one in.

They also talk about training your staff to build relationships with patients. This is key because people do business with those they know, like and trust. The more they feel they know you, the more they’ll trust your recommendations, and keep those regular appointments on their schedule.

The discussion covers, ‘why you should also focus on your staff experience’, as this can help your bottom line in several ways. If your staff is happy, your patients will resonate with that energy and will also be happy. Not to mention the reduction in costs as it will help increase your attrition rate, which will cut down on hiring and training costs.

You mustn’t constantly focus on just the numbers. Although they are very important, other factors impact those numbers outside of just cost and revenue.

If you have specific questions about improving your patient experience, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Real Estate Note Investments

Thu, 02 Mar 2023 06:00:00 -0500

In this episode of Beyond Bitewings, Ash, Robert and special guest Nathan Turner discuss investing in Real Estate Notes. Nathan has been a veteran in the industry for over fifteen years and explains that he primarily buys residential mortgages from hedge funds or banks and gets a better yield by getting them at a discounted rate.

When a non-performing mortgage note is purchased, the purchaser buys the right to continue to collect the payments by becoming the new “bank” for the borrowers. Nathan has created a fund through his company, Earnest Investing, where he buys these notes and holds them into a fund, offering a guaranteed 8% rate. (Not up to 8%, but a guaranteed 8% rate).

Nathan talks about why this can be a great investment opportunity for those looking to diversify their investments. Worried about the recession impacting your investments? Well, this investment performs even when the economy slows down.

To find out more about Earnest Investing, visit: https://earnestinvesting.com/

If you have specific questions about real estate notes investments, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

How To Mitigate the Rise of Inflation and Expenses

Thu, 09 Feb 2023 09:00:00 -0500

As inflation and interest rates have been on the rise, business owners have found themselves with rising costs. Since we may not have an ending in sight quite yet, what can you do now to mitigate these changes in your practice?

In this episode of Beyond Bitewings, the Edwards and Associates team discusses different ways you can increase revenue and decrease costs in your dental practice. Raising your rates might be the first thing you consider, but you may be stuck if insurance companies don’t increase what they’re paying you back.

They discuss why you may want to take inventory of the insurance programs you’re accepting, and why it may be in your best interest to look at renegotiating your fees or possibly even dropping some of them. It may feel scary, but when done the right way, you may actually see an increase in revenue and clients.

They also talk about marketing, and why, even though this may be an increased expense right away, the right campaign will end up paying off over time. You can also try simple things like asking for referrals or training your front staff to ask for reviews as they’re checking out from their appointment.

Although you may be feeling the squeeze, there are some changes that you can make to help offset the cost increase without having too large of an impact on your practice.

If you have specific questions about how to decrease expenses or grow your revenue, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

The SECURE Act 2.0

Thu, 26 Jan 2023 06:00:00 -0500

The SECURE Act 2.0 was signed into law in late 2022, and there are several ways it may affect you and your retirement accounts. The Edwards & Associates team covers everything you need to know for these upcoming changes.

In this episode, they discuss the new changes for age limits on the Required Minimum Distribution. Basically, this covers when the government wants you to start taking distributions from your accounts (so they can start getting their tax dollars).

They also talk about new ways the government is helping people get more relief in times of need by allowing up to $1,000 annually to be taken from a retirement fund without penalties.

Also, have you heard about the auto-enrollment in your company’s 401K program? This is something that will be rolled out where if you start with a company, and they offer a 401K, you will automatically be enrolled at 3%.

There are also new programs where if you’re making contributions towards your student loan debt, your employer can still pay into your 401K match based on the amount you’re paying on your student loans.

Plus they discuss what benefits employers who offer retirement plans to their employees may see from this new bill. This may be the perfect opportunity to start adding this program into your practice and allowing your employees to get one more perk, and you may see more tax benefits.

If you have specific questions about your retirement plan or the plans you offer your employees, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Practice Owners Most Common Tax Questions

Thu, 12 Jan 2023 06:00:00 -0500

This is the perfect episode to get ready for 2023 and learn how to save more money on your practice’s taxes!

If you have specific questions about your expenses on your taxes, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

The Journey From Dental School to Practice Owner

Thu, 15 Dec 2022 06:00:00 -0500

The road from dental school has many options, and knowing which direction to take can feel overwhelming.

In this episode of Beyond Bitewings, the team at Edwards and Associates talks to Dr. Trisha Patel to discuss her journey out of dental school to building her own practice.

Dr. Patel shares how her background in business and working with a DSO helped to give her a head start in running her own business. However, she also talks about how starting a business during COVID (plus while becoming a new mother) set her up for some challenges along the way.

Through all the ups and downs, though, Dr. Patel talks about why she is happy with the decision she made, and why it’s so important to have a team of great advisors on your side. She also talks about why she decided to build her own practice from the ground up instead of buying an existing one.

She also talks about her experience at the DSO, and why it helped her to understand the things she saw they were doing well. It also helped her see the processes she wanted to improve for her own business and staff. She also gives advice about just jumping in. As much as we want to make sure we understand all that we can before starting our own business, the truth is, we will never know it all. There will always be a lot to learn and new challenges along the way, and she talks about why she has no regrets about jumping in.

If you have specific questions about your options after dental school, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Failure Is Just Part of the Process

Wed, 30 Nov 2022 09:00:00 -0500

When you’re building a practice, things may not always turn out the way you want to. However, that doesn’t make you a failure, it simply makes it all part of the process.

In this episode of Beyond Bitewings, Ash and Robert are sharing some of their favorite stories of clients who hit major roadblocks while running their practice. Instead of giving up, these clients persevered and came out on top. They talk about what happened, and how they changed course to make their practices a success.

Sometimes it’s about cutting losses; sometimes it’s about making changes; sometimes bankruptcy is a consideration; and sometimes it’s about not being a business owner at all. And all of those are okay.

When it comes to failure, it’s not a matter of being able to avoid it, but changing course and continuing when something does happen.

If you have specific questions about failure or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

How To Prevent Embezzlement

Thu, 17 Nov 2022 06:00:00 -0500

Do you believe embezzlement would never happen within your business?

David discusses what every dental practice owner should understand about embezzlement and the two types of people who decide to take money from their employer.

This is definitely something you shouldn’t be sitting on, thinking it’s not going to happen to you, and as your practice starts to grow, the greater chance you have of becoming a statistic.

If you’re interested in learning more about David, visit: www.prosperiden.com or call: (888) 398-2327.

If you have specific questions about embezzlement or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Practice Management Reporting

Thu, 03 Nov 2022 06:00:00 -0500

When it comes to running your dental practice, there are many things you can do to get a pulse of how your practice is running. One of those is by looking at specific reports.

In this episode of Beyond Bitewings, the Edwards and Associates team is joined by Nancy Kagan, COO of Rosen Summit Dental Advisors to discuss the biggest mistakes she sees dental practice owners make, and what reports you should be looking at on a daily basis, no matter which software you use.

They also talk about the basic information some of these reports can tell you, for example, an adjustment report can shine a light on potentially fraudulent activity in your practice. She also talks about why sometimes things may look suspicious, but it may not be fraudulent activity. Instead, it may just be a lack of training for those who need to view the reports on a daily basis.

They also talk about why looking at your outstanding claims report on a consistent basis can be valuable. It’s important to not just look at what claims are being submitted, but specifically, which ones are being resubmitted, and why you need to be careful about this.

The other major report they talk about is the patient retention report. If new patients are coming in, that’s great. However, are you looking at how many of them cancel their first appointment and never come back, or those that don’t come in after one appointment.

Nancy also discusses some red flags that you should look for in your practice. Reports should never be a secret, and if anyone is having an issue with you pulling reports on a consistent basis, that may be a sign they’re trying to hide something.

If you have specific questions about this or would you like to reach Nancy, you can find out more at: https://rsdentaladvisors.com, or contact her directly by email: nkagan@rsadvisors.com or phone: 781.724.7975.

If you have specific questions about your reporting or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

2022 Tax Changes

Thu, 20 Oct 2022 06:00:00 -0500

There are a lot of tax changes happening in 2022 and 2023, and in today’s episode of Beyond Bitewings, the Edwards and Associates team is talking about the changes that may affect you, and what you need to know about them.

You may have heard about the $80 Billion Expansion of the IRS, and with $47 Billion of that money going towards audits, the question becomes who exactly are they going to go after. There is some back and forth on understanding how it will be applied. However, what is known is that ERC Credit recipients will be scrutinized. There are some rules and regulations that need to be followed with this credit, and they’re going to be checking to make sure those that took it, did it correctly.

They also talk about the Inflation Reduction Act, and what you need to know about the tax credits that are from this new bill.

When it comes to saving on energy, there are several different types of credits: the electric vehicle credit and the home energy credit. They discuss what has changed, and why you may want to look at the electric vehicle credit again in 2023, as some cars have been added back to the list. They also cover what, if anything, has changed on the home energy credit side.

And last, but not least, they cover the student loan forgiveness program. They’re answering some of your biggest questions about the program, including how much you can expect to get back, who qualifies, and how you can apply for it.

If you have specific questions about changes to 2022 and 2023 taxes or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Patient Membership Plans

Thu, 06 Oct 2022 06:00:00 -0500

Have you thought about offering a patient membership plan but aren't sure where to start? Or are you wondering about different options that could be added to your current patient membership plan?

As more dental practices are moving to offer membership plans to their patients, how to charge for these plans can be confusing when considering what options to offer, etc. In this episode of Beyond Bitewings, Ash and Robert and are joined by Katie Franklin, Director of Illumitrac Software, to discuss why patient membership plans are becoming so popular for dental practice owners, and what you need to know about adding such a plan to your practice.

Katie discusses why it is so important to focus on the relationship between the patient and the practice first when creating your membership plan, and why some states are cracking down on how practices are charging for these plans.

They also talk about how dentists can customize their own plans and the different options typically seen. Plus they talk about the benefits of having a patient membership plan and why it goes far beyond just offering an option for those who don’t have insurance. A patient membership plan can also be an option for your insured patients because most dental insurance plans only offer limited reimbursement. And with the cost of dental services going up, this can help patients.

Katie discusses what types of practices are ideal candidates for patient membership programs and why this strategy can benefit so many. She also talks about why, if you’re thinking of selling your practice in the near future, adding a patient membership plan can potentially increase your sales price.

Katie also announces a generous offer for all Edwards & Associates listeners, a reduced rate of $149 for Illumitrac's initial fee. If you’d like to learn more and take advantage of this offer, visit: https://www.illumitrac.com/ and schedule a demo.

If you have specific questions about membership plans or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

The Most Important Calculation For Your Practice

Thu, 22 Sep 2022 06:00:00 -0500

BAM! It’s not just something the chef, Emeril Lagasse used to say, but it’s actually one of the most important numbers your dental practice should be tracking.

In today’s episode of Beyond Bitewings, Ash and Robert talk about BAM, also known as the ‘Basic Amount of Money’ needed to operate your practice on a monthly basis, and why this is such an important number in your practice. They also talk about why practice owners oftentimes overlook this number, and why focusing solely on other numbers like production and hygiene billing can be a costly mistake.

In addition, when looking at the practice as a whole, many practice owners believe that net income is the main line item they should focus on. However, when only focusing on net income, you’re potentially not considering other factors that could be affecting your bottom line. This is where BAM comes in as it’s not just about practice overhead, but it’s about looking at the doctor’s goals of take-home pay, retirement, a road map to implementing a bonus system, and other factors.

They also get into how this can be calculated when there are big changes to the practice, like lease changes, or an increase in revenue. Plus they discuss why your staff will make this one of the top priorities in the numbers they’re watching and striving to hit.

If you have specific questions about BAM or other questions about your practice’s numbers. Or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Improve Your Hygiene Department

Thu, 08 Sep 2022 06:00:00 -0500

Is your dental hygiene team working to their full potential?

It’s common to find that dental practice owners haven’t ever seen a dental hygiene department working in tandem and generating their full income potential so these practice owners aren't even aware of the possibilities.

Most dental practices have room for improvement in the efficiency and mindset of their staff, and that’s where Rachel Wall comes in. Rachel is the founder of Inspired Hygiene, a company committed to helping dentists tap into hygiene’s profit potential through coaching webinars, and mastermind groups.

She joins the team at Edwards & Associates in this episode to discuss where dental practice owners are missing the mark in terms of their hygiene department, and why they may be leaving massive money on the table.

She also discusses why it’s so important for teams to work together, and where you begin to get a hygiene team to work to its full potential. They also talk about why the majority of hygiene teams are underperforming, and if the 3:1 production standard is still realistic to expect with pay rates increasing.

So if you’re looking to boost your patient care and profits with your current hygiene team, then make sure you listen.

If you’re interested in connecting with Rachel, you can sign up for a consult by visiting: https://www.inspiredhygiene.com/talk/ or emailing clients@inspiredhygiene.com

Use code Edwards300 for a $300 discount.

If you have specific questions about these updates or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

2022 Updates

Thu, 25 Aug 2022 06:00:00 -0500

It’s hard to believe we’re still talking about COVID/Pandemic programs, but the truth is that we’ll probably still be talking about them for a long time.

In today’s episode of Beyond Bitewings, Robert and Ash are covering some of these programs, and other things that might be changing based on the potential passing of new bills in 2022.

The first thing they cover is what you need to know about the Economic Injury Disaster Loan (EIDL), and when you need to start thinking about paying it back. Although the program is over, payments on it haven’t started and holding off that payback may be in your best interest.

They also talk about the Provider Relief Fund. Again, this fund is no longer taking applications, but there are requirements for reporting, and those are based on when you took out that money. They discuss what you need to know about when your reports should be submitted.

Other topics they cover are why getting an NPI number was important for some of these programs, and why if you don’t have one, you should consider getting one sooner rather than later.

They also discuss retirement funding, and why the government is trying to pass a bill that delays when you will be forced to start taking your distributions. This may not seem like a big deal, but Robert talks about why this could mean more money in your retirement years.

And the team at Edwards and Associates is seeing a huge uptick in their clients receiving spam about applying for the ERC Credit. Robert and Ash talk about why you need to be very careful about these emails, and what you need to know before sending these companies any of your data or allowing them to submit the ERC Credit request for you.

If you have specific questions about these updates, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

How To Make Your Practice Run More Smoothly

Thu, 11 Aug 2022 06:00:00 -0500

When it comes to running your practice, do you find yourself wishing things could run a bit more smoothly?

The good news is that there are several different things you can implement today to help make a much more cohesive team which will help to make the practice run much more smoothly. Ash and Robert discuss their tips and tricks to help.

They talk about policies and procedures. Often times doctors feel this is unnecessary or too much of a headache to create. However, it eliminates questions within your staff and helps everyone get on the same page with expectations and what they can expect from working at your office. The last place you want to be is where people are making assumptions or are unsure.

They also discuss bonus structures. Again, this can feel like a cumbersome task, but is actually easier than many doctors think. Plus this can be an item that really brings a team together in one common goal.

Another idea they have is goal setting with the office team, daily huddles to understand how those goals are being met, and how to create ways to help measure and track those goals.

It can take a few extra steps to create all of these, but when you have a group of people understanding what they’re supposed to do, how they’re supposed to do it, and how they’re going to accomplish these things, it can create an extraordinary working environment.

If you have specific questions about running your practice, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

What To Consider Before Selling to a DSO

Thu, 28 Jul 2022 06:00:00 -0500

When it comes to selling a practice, many dentists find themselves contemplating the decision between selling to a DSO, going down a traditional path, or even to selling at all. Although selling to a DSO may seem enticing, it's important to understand the full picture before making this important decision.

In this episode of Beyond Bitewings, Ash and Robert discuss what DSO’s are, how they work, and what they are usually looking for when it comes to acquiring your practice. Plus they talk about what is important for you to know before you sign any dotted line.

They also discuss how DSO’s typically determine a sales price, and how they make it much more straightforward than traditional buyers. Plus they discuss, on average, what a DSO expects from the owners when purchasing, and why an owner could end up losing a lot of money by selling too early.

They also talk about that although it may feel like it’s an urgent decision, why it’s important not to rush into anything, in addition to other questions that their customers typically ask when they’re trying to decide to move down the DSO route.

So before you make any changes to your business or decide to sell to a DSO, make sure you listen.

If you have specific questions about selling your practice, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Running Your Dental Business

Thu, 14 Jul 2022 06:00:00 -0500

When it comes to running your dental business, you may often feel like you’re in constant defensive mode vs. getting ahead of potential issues. In this episode of Beyond Bitewings, Ash and Robert are giving some of their best tips and tricks for making running a business more smooth, and how to become more proactive on common issues.

The first thing they talk about is being able to provide tax and business data on time, and the best way to do this is to keep better records. They recommend collecting the data as you go versus waiting until the end of the year and even using apps like MileIQ to track information like mileage while you’re driving.

The IRS is receiving more funding this year, which means for the first time in several years, we will see an increase in audits. So having more accurate and trackable data is going to be important in case you ever do get audited.

They also discuss secret shopper calls and exit interviews, and why both of these are so important for the success of your business. It’s always better as a business owner to stay on top of things and change as necessary versus waiting until something major happens, i.e. a majority of your staff leaving or a low rate of new patients. Both of these don’t take a lot of time but are important to do frequently.

Also, don’t forget we’re offering free reviews of your associate’s contract. If you would ever like for us to take a look, please email us at info@eandassociates.com

Resources:

https://mileiq.com/

Southwest Dental Conference - https://swdentalconf.org/

If you have specific questions about running your dental business, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Preventing Cyber Security Attacks

Thu, 30 Jun 2022 06:00:00 -0500

What do you know about preventing cyber security attacks in your practice? Maybe you feel your practice is too small to be a target, unfortunately, you’re very wrong.

No matter the size, your business could be vulnerable to cyber-attacks, which means your patient’s data could easily get in the wrong hands. You could also be in a situation where they hold your data ransom, and you need to pay a price for them to release it.

So how do you make sure your business isn’t defenseless against potential attacks? Well, that’s where Ieshea Hollins comes in. Ieshea is the founder of the Direnzic Technology Consulting Group. She joins Robert and Ash on this episode of Beyond Bitewings to discuss why small businesses, like dental practices, are the most susceptible to cyber-attacks, and what they can do to prevent them.

She also talks about why it's so common for business owners to avoid talking about cyber security because they just don’t understand what they really need to do, and why this is the absolute worst thing you can do.

To find out more about Direnzi Technology and how you can start getting your business protected, visit: https://direnzic.tech/.

If you have specific questions about preventing cyber security attacks or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team. Or contact any one of the excellent ADCPA affiliates across the nation.

How To Use Personality Assessments When Hiring

Fri, 24 Jun 2022 08:00:00 -0500

Do you know how to use personality assessments when hiring? Most dental practices are experiencing hiring to be very difficult. It can be even more frustrating if you finally think you’ve found that right hire, only to discover they’re a horrible fit in your practice.

As bad as this sounds, it's an unfortunate reality for more and more practice owners. In these times of finding great help to be more difficult, practice owners find themselves more desperate and they’re making offers solely on how they feel the candidate can perform the job. However, they’re forgetting to make sure the person will also be the perfect fit for their team.

So how do you make sure you have not only a great person for the job but one that will also mesh well with all of your other employees? Conducting an assessment like DiSC can help determine what type of personality you need within the role, and what type of person your prospect is.

DiSC is a personal assessment tool, and Tamra Whitley joins the team at Edwards & Associates again to discuss how she uses the assessment in her practice. She shares her own description of the personality types as lions, otters, golden retrievers, and beavers and what roles she typically sees that they fit. Plus she talks about how implementing the assessment has made a huge difference in her practice.

Also, while many dental practice owners are hiring on the spot, after only one interview, Tamra details her eight-step process before ever bringing anyone on board.

If you have specific questions about how to use personality assessments when hiring, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team. Or contact any one of the excellent ADCPA affiliates across the nation.

Dental Team Conflict Resolution

Thu, 16 Jun 2022 06:00:00 -0500

Do you find yourself dealing with dental team conflict resolution and team drama in your dental practice way more than you would like?

Unfortunately, this is a very common theme among dental practices. All too often, owners find themselves spending just as much time, if not more, unwinding the issues of the staff than they do practicing dentistry.

So if you can’t avoid conflicts, what’s the best way to approach conflict resolution? Dr. Sharon Tiger joins Robert and Ash in this episode of Beyond Bitewings to discuss some of the best practices when it comes to helping doctors understand how to approach conflicts before they become a bigger problem. Plus, she talks about ways to help diffuse a situation if it has gotten to the point where it is causing a lot of issues in the office.

They also discuss the best approach to letting someone go, and why it’s important to not give them specific reasons why it’s not working, in addition, they talk about who you should contact before making any moves.

Even though it’s going to be extremely difficult for you to avoid any conflict issues, it’s best to understand what you can do to keep your dental practice running as smoothly as possible. Plus we all know that you should be spending the majority of time doing what you love, practicing dentistry.

If you would like to connect with Dr. Tiger, you can email her at: txtiger2@gmail.com.

If you have specific questions about dental team conflict resolution for your practice or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team. Or contact any one of the excellent ADCPA affiliates across the nation.

Should I Consider Hiring an Associate Dentist?

Thu, 02 Jun 2022 06:00:00 -0500

Have you considered hiring an associate dentist for your practice?

When it comes to growing your practice there are various ways you can expand, and many times dentists find themselves needing to bring on a dental associate to help with the patients. Although this is a great way to expand, it’s a step that needs to be done with extreme caution. You want to make sure that the person you bring in is the right fit for you and your practice.

So how exactly do you do that? The team at Edwards & Associates welcomes Dr. Sharon Tiger back in this episode of Beyond Bitewings and they discuss the things you need to consider before signing a contract with a new associate.

They discuss, first, how you can analyze what’s happening in your practice to determine if this is the right next step for you or not. Once you’ve determined that adding an associate is the best move, they discuss how personality assessments like the Culture Index are your best next step. This isn’t just for the associate but the doctor too to determine how their personalities can best fit.

They also discuss what needs to be done before any contract is signed. Just like any partnership, it’s important to have uncomfortable conversations and to get all of the expectations out on the table. You can do this on your own, or you can bring in a facilitator to help with the conversation.

Before you make this extremely important decision in your practice, make sure you listen to know what you need to consider, what questions to ask, and who you should connect with before signing anything!f

If you have specific questions about hiring an associate dentist for your practice or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team. Or contact any one of the excellent ADCPA affiliates across the nation.

Impact Your Practice with AADOM

Thu, 05 May 2022 06:00:00 -0500

No matter what industry you’re in, learning to build and run a business can be a very lonely road, and learning from others in your field, can be a huge blessing.

In today’s episode of Beyond Bitewings, the team at Edwards & Associates is joined again by Tamra Whitley who discusses her membership in the American Association of Dental Office Management and how you can impact your practice with AADOM. Tamra is the owner spouse and Practice Administrator of Whitley Family Dental, and she shares her story of how she ended up helping to run the practice with her husband.

Tamra shares how she started in the front office, not having any idea what she was about to get into, and how becoming a member of the American Association of Dental Office Management (AADOM) was a complete game-changer for her.

She discusses what an association can help with in terms of understanding potential blind spots, and how you can run your practice more efficiently. She also discusses why it isn’t just about her becoming a member, but also training her entire staff to adhere to what AADOM teaches.

If you do have specific questions about how you can impact your practice with AADOM, or if you'd like to have another question answered on a future podcast, please make sure to reach out to the Edwards & Associates team. Or contact any one of the excellent ADCPA affiliates across the nation.

Your Most Frequently Asked Questions of 2022

Thu, 21 Apr 2022 06:00:00 -0500

Although it feels like we are moving on from the pandemic, there are still a lot of questions about the government programs that were offered to business owners.

The team at Edwards & Associates is covering some of your most pressing questions abound things like ERC Credits and Refunds, the HHS Stimulus, PPP forgiveness, and when to pay back your EIDL Loans.

They’re also covering more questions like should you lease or purchase your car, and how can you qualify for using your car for a business. Plus, what does the credit look like for using electric cars?

Before you end up having to pay back money you really don’t need to or miss out on qualifying for a credit, make sure you listen to this podcast to get some of those questions answered. And of course please always consult with your CPA or reach out to the team at Edwards & Associates if you have any more questions.

If you do have specific questions about some of these government programs, or taking advantage of tax credits, or if you'd like to have another question answered on a future podcast, please make sure to reach out to the Edwards & Associates team. Or contact any one of the excellent ADCPA affiliates across the nation.

Employer Tips

Thu, 07 Apr 2022 06:00:00 -0500

Running your own practice may feel glamorous, and many start their own or purchase one thinking it’s going to be easy. However, although there are many ups, there are times when you may find yourself in many downs.

What are some things you can do to really embrace the role of an employer and build your practice the right away? The team at Edwards & Associates is discussing some tips for employers in this week’s episode.

Robert Edwards shares his experience running his own company in addition to the things he didn’t anticipate being potential issues. For example, finding clients wasn’t hard for him, the difficult part was building the right team. Plus one of the biggest challenges employers face is once you find the right team, letting go of control to let them thrive.

They also talk about the importance of learning to be flexible in all aspects of your business and continuing to have the right mindset even when things aren’t going your way.

If you have specific questions about help in running your practice or questions about being an employer in general, or if you'd like to have another question answered on a future podcast, please make sure to reach out to the Edwards & Associates team. Or contact any one of the excellent ADCPA affiliates across the nation.

How To Successfully Transition From Employee to Employer

Thu, 24 Mar 2022 06:00:00 -0500

Owning a business isn’t for the faint of heart, and this is especially true for dental practice owners. The transition from becoming an employee to an employer can be difficult if not done correctly, and in this episode of Beyond Bitewings, the team at Edwards & Associates is covering some of the things that you should consider before making the switch.

One of the most important factors to understand is that being an employer isn’t for everyone, and there’s nothing wrong with staying on the employee route. Plus it’s a good idea to wait a few years after getting out of dental school before venturing out on your own. The sweet spot is right around three to five years before moving into your own practice.

They also talk about what’s important to do when you’re thinking about moving from employee to employer and how you should best utilize your time and education as an employee to get ready for that move. In addition, they talk about why a dental study club could be one of the best things you join, even as an employee.

When it comes to getting ready to move out on your own, you should line up your team and resources before you even begin looking to start your own practice. This isn’t something you should do all on your own, or at the last minute when it could be too late.

If you have specific questions about moving from an employee to an employer or if you'd like to have another question answered on a future podcast, please make sure to reach out to the Edwards & Associates team. Or contact any one of the excellent ADCPA affiliates across the nation.

How To Hire Specialists In Your Practice

Thu, 10 Mar 2022 06:00:00 -0500

Bringing in specialists can be a great addition to your practice, but the process can be overwhelming. How do you know what specialties to bring in? And more importantly, where do you begin finding the right people to fill these roles?

Santosh Patel, Co-Founder, and President of Complete Specialty Solutions joins the team at Edwards and Associates on this episode of Beyond Bitewings to discuss why this could be a game-changer for your practice, and how his company can help take the headache out of this process.

The good news is that you don’t need to bring in someone full-time for your practice. They can come in as little as a few days a month and can offer these additional services to your clients.

Santosh discusses some of the biggest issues dental practice owners have when trying to hire a specialist, what you need to consider when bringing in a new service and specialist, and how you can avoid some common mistakes.

He also discusses why this can really help your practice grow new revenue streams.

If you’re ready to connect with Santosh, his contact information is:

Gp {at} completespecialty.com

Phone: 214-435-7263

If you have specific questions about hiring specialists or if you'd like to have another question answered on a future podcast, please make sure to reach out to the Edwards & Associates team. Or contact any one of the excellent ADCPA affiliates across the nation.

Understanding DSOs

Thu, 24 Feb 2022 06:00:00 -0500

We’ve all heard of DSO’s (Dental Support Organizations) in the world of dentistry. However, even though it’s common, there are still a lot of questions dental practice owners have when it comes to DSOs, and the team at Edwards and Associates are answering those in this episode of Beyond Bitewings.

Robert and Ash are talking about why DSOs can offer so much more money in offers to purchase dental practices, and what they consider in their calculations that allow them to offer so much.. Plus they discuss why selling your practice to a DSO buyer may be more beneficial than just more money.

They also talk about the two types of DSOs, which are private equity-owned, and doctor-owned, and the pros and cons of each of those, plus so much more!

If you’re considering selling anytime in the near future, or just want to better understand your options as your practice grows, don’t miss this episode.

If you have specific questions about DSOs or if you'd like to have another question answered on a future podcast, please make sure to reach out to the Edwards & Associates team. Or contact any one of the excellent ADCPA affiliates across the nation at https://adcpa.org/.

2022 Tax Planning

Thu, 10 Feb 2022 06:00:00 -0500

As we enter a new year, there are a lot of questions about tax rates, and what’s going to happen to them in 2022. Should you plan on your tax rate going up? It’s one of the most common questions asked, and although it’s not possible to say for sure that rates will rise, it’s almost certain that they’re not going to go down in 2022.

So even though we’re just at the start of 2022, you should start thinking about ways to mitigate any changes to tax rates. The team at Edwards & Associates are covering all of the common questions regarding 2022 taxes in today’s episode of Beyond Bitewings.

As we wait for Congress to pass important legislation, and watch as the IRS starts to track Cryptocurrency more aggressively, it’s important to know how you should be tracking the purchase and sale of your assets. You’ll also need to make sure you hang on to any letters you receive from the IRS regarding the Child Tax Credit, and what to consider regarding any PPP loans that were taken out in addition to forgiveness of those loans.

If you have specific questions about 2022 tax planning or if you'd like to have another question answered on a future podcast, please make sure to reach out to the Edwards & Associates team. Or contact any one of the excellent ADCPA affiliates across the nation at https://adcpa.org/.

Lending Options in 2022

Thu, 27 Jan 2022 06:00:00 -0500

With interest rates still at an all-time low, it’s a great time to think about either refinancing a current loan or taking out a loan that you’ve been considering for a while, maybe it’s time to look into your lending options in 2022.

Although no one knows for sure when rates will rise, and how much they will rise, what is known is that there’s a very good chance that they will rise in 2022.

In this episode of Beyond Bitewings, the team at Edwards & Associates answer some of your most pressing questions when it comes to taking out loans, whether it’s for a new practice, an existing practice, or refinancing a current loan.

They talk about what you need to know about rate lock-ins and why you may have more time than you realize to get your loan ready. They also discuss what you should know if you would like to get a start-up loan, why demographics are so important, and things to know about setting your loan term length to get the most out of your cash flow.

If you have specific questions about lending options in 2022 or if you'd like to have your question answered on a future podcast, please make sure to reach out to the Edwards & Associates team. Or contact any one of the excellent ADCPA affiliates across the nation at https://adcpa.org/.

Exit Your PPOs WITHOUT Losing Clients

Thu, 13 Jan 2022 06:00:00 -0500

Would your practice survive if you stopped taking insurance?

It’s a question many dental offices are asking, but are too worried to truly explore. However, the answer may surprise you.

Tamara Whitley joins the Edwards and Associate’s team during this episode of Beyond Bitewings, to talk about her journey of removing insurance from her husband’s dental practice.

After seeing her husband’s office make less money than he was making working as an employee for another office, they started to dig a bit deeper to how they could see where profits might be falling short. What Tamra uncovered was more than disconcerting, and they saw how taking insurance was actually losing them money vs. making it.

With the help of Craig at Solutions 101 (https://www.s101medical.com/), Tamara was able to see how insurance was affecting their practice, how much they had in outstanding claims, and how to create a roadmap that got them on the path to more profitability.

Tamara talks about how she changed their practice’s insurance policies, how they’ve been able to retain clients, and why this has been the best thing they could have done.

If you’re wondering how you can make the jump to stopping the PPO Whack-A-Mole, then make sure you listen because they may just be the push you need.

If you have specific questions about this episode or if you'd like to have your question answered on a future podcast, please make sure to reach out to the Edwards & Associates team. Or contact any one of the excellent ADCPA affiliates across the nation at https://adcpa.org/.

Billing Medical Insurance for Dental Procedures

Thu, 30 Dec 2021 06:00:00 -0500

Have you tried to bill medical insurance for a dental procedure, but the claim was denied or something else went wrong? Are you thinking about doing more medical billing for dental procedures but aren’t sure what your options are?

As more and more insurance companies recognize the importance of dental procedures to the overall health of patients, billing medical insurance for dental procedures is becoming more common. However, many dental practices attempt to do their own medical billing, but fall short due to incorrect diagnosis coding or because they’re not aware of the vast difference between dental billing and medical billing.

This is why Surety Dental Services started their business because they saw so many dental offices getting medical claims denied and missing out on payouts.

Medical billing is an entirely different skill set. So instead of hiring more staff you can bring in Surety to help you get your claims paid and have your staff focus on what matters most, your patients.

Monica Holder joins the team at Edwards and Associates today to talk more about medical billing, what dentist offices need to know about it, why it shouldn’t be ignored, and why hiring an outside firm to help handle it may be your best option.

If you’re interested in getting in contact with Surety Dental, you can call them at: 662-402-4021.

You can also visit: https://www.suretydentalsolutions.net/

How To Retain Valuable Employees

Thu, 16 Dec 2021 06:00:00 -0500

How do you find the right people to work for your practice, and most importantly, what can you do to make them stay?

It’s two of the most important questions employers are asking themselves in today’s climate, and one that the team at Edwards and Associates is discussing in this episode.

Gone are the days when paying more was the solution to keeping employees. We are experiencing the time of the great resignation, and companies are scrambling trying to find ways to attract talent in addition to keeping their employees happy. Plus as we see a workforce move more to remote work, dental offices must come up with more creative ways to keep staff motivated to come into the office

What do employees really value, and what have other companies found that have worked? After hearing from some of Edwards and Associates’ clients, we’re getting an inside look into what companies have implemented. Some of the ideas that are discussed are things like offering different incentives like child care credits, surveying your employees to get ideas, initiating ways to foster creativity, plus much more.

Cryptocurrency: An Introduction

Thu, 02 Dec 2021 06:00:00 -0500

It’s hard to go anywhere these days without hearing someone talk about cryptocurrency. As it becomes more mainstream, more people are wanting in but they’re not exactly sure how to start.

In this episode the team from Edwards & Associates is visited by ‘Will’, an investor who has been investing in the cryptocurrency field for quite some time. The team is getting asked a lot of questions about cryptocurrency and Will is here to answer them.

Will and the team discuss the safety of this investment, how you should store your cryptocurrency, are there regulations for it, and if not, are they coming. Plus they talk about how you should report your trading, how cryptocurrency is taxed, and understanding the basic terms like what’s a cryptocurrency, vs. a token, vs. a blockchain.

Will also mentions a few websites to help with your investing, which include Gemini.com and Coinbase.com.

2021 Yearend Tax Planning

Thu, 18 Nov 2021 06:00:00 -0500

It’s that time of year! As 2021 comes to a close, it’s time to start making sure you have all of your loose ends tied up when it comes to 2021 yearend tax planning. There’s a lot to think about as we get ready for 2022, and unfortunately, there’s a lot of uncertainty about what’s going to happen with tax laws, and there are a lot of items that aren’t 100% clear yet as potential new tax laws sit in front of the legislature.

The team at Edwards & Associates is giving you the low down on everything they want you to know and consider as the year comes to an end. They’re discussing what will change in the upcoming year, in addition to what could change and why 2021 yearend tax planning is so important.

In this episode, they’re talking about potential changes in the tax rates, including capital gains tax. You’ll also learn what you need to know about retirement plans, including both Roth and Traditional IRAs. Plus they’re talking about what you should consider for equipment purchases and other business expenses being on your books in 2021 vs. 2022.

Secret Shopper Calls

Thu, 04 Nov 2021 06:00:00 -0500

When a new patient calls, are you confident your front desk is handling everything correctly?

In today's Beyond Bitewings episode, the team at Edwards & Associates is finding out how well your front desk team is handling new patient calls, and the results may surprise you.

Are they collecting information to reach back out to people who don't schedule an appointment? Are they simply answering questions or going above and beyond? Are they leaving potential patients on hold for long periods of time? Are they even answering the phone?

In this episode, you'll get a behind-the-scenes look at a few actual calls and hear first-hand how to improve your process and how little things can make a big difference in getting new patients and growing your practice. Curious how your team measures up in comparison? Make sure you listen!

How To Avoid PCI Compliance Mistakes

Thu, 21 Oct 2021 06:00:00 -0500

PCI Compliance, as a Dental Practice owner, do you have it? Do you even know why it’s important?

PCI Compliance is one of those areas that many practice owners know about, and know that they have to consider it. However, actually making sure their practice is compliant can be a whole different thing.

On today’s episode of Beyond Bitewings, the Edwards and Associates team welcome

Danielle McKinley, a Certified HIPAA Advisor with 10+ years of experience in risk management, and Director of Partnerships at PCIHIPAA.

Danielle brings her wealth of knowledge to discuss PCI Compliance and why one of the biggest mistakes practice owners make is pushing it off to the side.

She discusses why having someone come in to help with a risk assessment is so important in addition to common myths about PCI Compliance, and why having an association agreement is so important, plus so much more!

If you have specific questions about this, please make sure to reach out to the team. Or if you'd like to have your question answered on a future podcast, contact Edwards & Associates. Or contact any one of the excellent ADCPA affiliates across the nation at www.ADCPA.org.

Understanding Provider Relief Fund Reporting

Thu, 07 Oct 2021 06:00:00 -0500

In today’s episode of Beyond Bitewings, the team at Edwards & Associates is discussing the Provider Relief Fund (formerly HHS). As we enter the fourth quarter of 2021, there are many questions about this relief and the team is here to answer them.

Just like many of the other programs that were developed due to the pandemic, the Provider Relief Fund also has constant changes in the rules and regulations on when it should be reported and if it should be paid back.

The team discusses what this program is, what it was initially designed for and why that’s important to understand when you’re reporting it. They also talk about how you should be reporting it, and most importantly, if you should hire a professional or not to do this for you (the answer may surprise you.) Plus they discuss when you need to be ready for each phase.

Preventing Embezzlement 101

Tue, 21 Sep 2021 09:00:00 -0500

You may not believe embezzlement can happen in your practice, but it’s something one in every six dental offices in the United States experience. So although you may not think it is happening in your practice, it could very easily happen to you.

Allen Schiff, Certified Fraud Examiner, joins the team at Edwards & Associates to discuss embezzlement and what dental offices need to know about preventing and handling it.

Allen discusses the different ways embezzlement can show up, from staff cashing checks made out of the office and writing out checks to fake companies for services never rendered to selling supplies that never made it to the supply shelf through sites like eBay.

Unfortunately, there are many different ways employees can take advantage of a practice. However, the good news is that you can put some pretty simple practices in place to help prevent it and find ways to check and balance to make sure you don't fall victim to embezzlement.

If you want to connect with Allen, visit Schiffcpa.com. And you can email him at aschiff@schiffcpa.com.

If you'd like to have your question answered on a future podcast, contact Edwards & Associates. Or contact any one of the excellent ADCPA affiliates across the nation at www.ADCPA.org

Streamline Your Front Office

Thu, 09 Sep 2021 06:00:00 -0500

When running a dental practice your front desk must be running as efficiently as possible, and one of the biggest wastes of time can be finding out the details of a patient’s dental plan.

Figuring out what is covered, how much etc., based on every single employer’s plan can take hours for your staff.

Luckily, there’s a great solution, and Karen Newton of Dental Systems, Inc. is joining the Edwards and Associates team to talk about their product IAPlus.

IAPlus helps dental offices save time by having all of the details of each employers’ plans right at their fingertips. This allows the office to find out what the patients’ responsibilities will be, in addition to all of the nitty-gritty processing guidelines that can sometimes take hours to find.

What’s also great, is they also offer a guarantee on the information they provide, so offices can be sure about what they’re charging and presenting to their patients. And although IAPlus has competitors, Karen explains why cheaper isn’t always better.

To find out more about Dental Systems and IAPlus, visit IAPlus.com

If you'd like to have your question answered on a future podcast, contact Edwards & Associates. Or contact any one of the excellent ADCPA affiliates across the nation at www.ADCPA.org

What’s the ERC? Where Are My Taxes? And Other Pressing Questions

Thu, 26 Aug 2021 06:00:00 -0500

What is happening with your 2020 tax returns?

It’s a question asked of the Edwards and Associates Team on a frequent basis, and one that unfortunately doesn’t have an easy answer.

We can all agree the pandemic has thrown a few curve balls when it comes to running your practice, and unfortunately the 2020 tax returns are just one more area that’s being affected.

In today’s episode the team talks about why all of the changes and confusions in the rules are holding up tax returns, a breakdown of the latest updates in ERC (Employee Retention Credit), and why dental office owners need to be careful about the advice they’re getting when it comes to ERC and the payback and forgiveness of PPP loans.

This is definitely a can’t miss episode as it’s crucial to stay up to date on these frequently changing products and rules.

If you'd like to have your question answered on a future podcast, contact Edwards & Associates at info@eandassociates.com or 972-267-9191. Or contact any one of the excellent ADCPA affiliates across the nation at www.ADCPA.org

How A CEREC Can Boost Your Practice

Thu, 12 Aug 2021 05:00:00 -0500

Is buying a CEREC worth the investment?

It’s a question many dental practice owners are asking.

In this episode of Beyond Bitewings, Dr. Peter Hazim joins the team at Edwards & Associates to share his experience with implementing a CEREC machine into his practice.

Dr. Hazim shares how he bought his CEREC system right before the pandemic and how he has still seen a large return on his investment despite making this large investment during that difficult time.

In this episode, you’ll learn how you can write off a large portion of this expensive technology, why it may be a better investment than you think, and how Dr. Hazim has been seeing big returns not just for his practice but by improving his patients’ experience.

Relationship Dentistry

Thu, 29 Jul 2021 05:00:00 -0500

Are your patients excited about visiting your practice?

Many dentists have believed the answer to this question will never be ‘yes’ and that people just hate visiting the dentist. However, when Dr. Robin Bethel was building his first practice he was determined to build a practice where he would get an answer of ‘yes’ consistently from this question.

In this episode of Beyond Bitewings, Dr. Bethel joins the Edwards and Associates team to talk about how he focused on relationship building with his patients and how it has paid off dividends for his practice. Plus he discusses why this focus has helped him build three more successful practices in the Austin area.

Dr. Bethel’s practice has hundreds of Google Reviews with a 5-star average, which is almost unheard of in the dental industry.

He discusses how his goal for his practices isn’t about getting the most number of patients in and out, but it’s about creating the best experience for each patient that walks through his door. He also talks about why focusing on the culture of his practice helped him to expand to 4 practices and over 100 employees.

Employees and the COVID Vaccine

Thu, 15 Jul 2021 06:00:00 -0500

Can you require your employees to take a COVID shot? This is one of the most frequently asked questions of any business right now, and a very important topic within the dental community.

In this episode of Beyond Bitewings, the team at Edwards & Associates welcome back Joe MacGregor, attorney at MacGregor & Oblad.

They discuss why although there’s a pretty clear answer to this question now, this is an ever-evolving topic. They also talk about what happens if an employee is fired for refusing the vaccine and whether or not the laws change in their favor. Will the employer still be held liable? Plus so much more.

If you’re an employer trying to figure out how to best navigate this extremely delicate topic, then this is a can’t miss episode.

Dental Study Clubs

Thu, 01 Jul 2021 06:00:00 -0500

One of the hardest parts about running a dental practice can be feeling like you’re doing it all alone. Once you graduate from dental school, you’re no longer surrounded by peers. Yes, you hire staff, but leaning on them to help you overcome some of the struggles of running your business isn’t a possibility.

The good news is that there’s an answer to this problem, and that answer is Dental Study Clubs.

Dental Clubs consist of groups of dentists where they meet on a frequent basis to discuss best business practices, issues they may be having, plus many other topics that can help them build and grow their practice.

In this episode of Beyond Bitewings the Edwards and Associates Team discuss the different types of dental clubs, the pros and cons of being a part of one, and what you can expect when trying to find the right club that’s for you.

5 Things All Dental Entrepreneurs Should Know

Thu, 17 Jun 2021 05:00:00 -0500

Finishing Dental School is only the beginning of a dentist’s journey. Not only do they need to understand their trade, but it’s equally as important to understand how to navigate their way through the world of business once they’re ready to start putting all that they’ve learned to work.

In this episode of Beyond Bitewings, the Edwards & Associates team is joined by Joe McGregor, Attorney and host of the Jaw Law Podcast. Joe's focus is to help dentists become more aware of potential business issues and to help them understand how others have been able to deal with them.

Today, Joe discusses five things that every dental entrepreneur should know, and why these five things are so important to the success of your practice. You’ll learn about the questions you should be asking, when to ask them, and why it’s crucial to put the right advisors in place for your practice.

If you’d like to learn more about Joe and his Firm, visit http://www.mcgregorfirm.com/ or email him directly at jmcgregor@mcgregorfirm.com And don't forget to catch his podcast Jaw Law http://jawlawpodcast.com/

If you'd like to have your question answered on a future Beyond Bitewings podcast, contact Edwards & Associates at info@eandassociates.com or 972-267-9191. Or contact any one of the excellent ADCPA affiliates across the nation at www.ADCPA.org

In-House Patient Plans

Thu, 03 Jun 2021 06:00:00 -0500

Many dental practices look at credentialing with insurance companies as a way to attract patients, but there are other ways that dental practices can attract and keep their patients. One of those is through membership programs. On today’s episode of Beyond Bitewings, the team welcomes Katie Franklin, Program Director for Smile Advantage.

Smile Advantage helps dental practices implement and run membership programs, and Katie is discussing why every dental practice should consider adding one as a resource for their patients. Not only are membership programs attractive to those who may not have insurance, but Katie has also found that even those with insurance many times take advantage of the program.

Katie and the Edwards & Associates team also discuss what type of typical benefits are offered with a membership program, what goes into implementing a membership program and the costs involved, how to get the whole team on board, and why membership programs don’t make sense in some cases.

If you’ve been considering implementing a membership program for your office and would like to talk to Katie, reach out to her at (314) 885-4640, or email her at katie@smileadvantage.com Or learn more by visiting: mysmileadvantage.com

Fresh Out of Dental School

Thu, 20 May 2021 05:00:00 -0500

You’ve finally accomplished your goal of graduating from dental school. However, just when you thought you'd reached the end, you find yourself at the beginning and there are a lot of different options ahead of you in terms of starting your career.

Should you jump in and start your own practice? Should you work as an employee for one company for a while and learn the ropes? Or should you work as a contractor for several different companies to learn the techniques from several different dentists?

These are questions going through so many graduates’ minds, and ones the team at Edwards and Associates gets asked frequently.

In this episode, they’re covering the different options that new dental school graduates have, and what is important to understand before striking out on your own or being an associate.

Questions answered in this episode:

What kind of agreement should you have in place if you’re going to work for another dentist?
What outlets are available to find opportunities?
If you’re starting out on your own is a business plan the first thing you’ll need to put together?
What skills should you focus on building and learning while you’re working for another dentist?
Is buying into a practice a viable option?
How can you line up financing if you’re just getting started?
Plus so much more

If you'd like to have your question answered on a future podcast, contact Edwards & Associates at info@eandassociates.com or 972-267-9191. Or contact any excellent ADCPA affiliate across the nation at www.ADCPA.org

Managing Your Hygiene Department

Thu, 06 May 2021 05:00:00 -0500

In a dental practice, the hygiene department is one of the most important teams in your practice, and dentists must understand how to utilize this team in the best way possible.

Karen Davis, Owner of Cutting Edge Concepts, joins the Edwards and Associations team in this episode of Beyond Bitewings to discuss what dentists should know about hiring, managing, leading, and utilizing their dental hygienists.

In this episode, they discuss why the dental hygienist team is often underutilized, and why dental practices are often missing the mark on one of the largest problems regarding our health, periodontal disease. Teams must understand the dental practice’s approach to the diagnosis of periodontal disease treatment. Plus they all need to be on the same page when working with patients.

Other topics that are discussed are when to know the right time to bring in a hygienist and a hygiene coordinator, and where are some of the best places to find the right talent. They also discuss why leadership is one of the most important skills for the dentist in a dental practice, yet it’s something many aren’t working hard to build.

For more information on Karen’s company, you can visit: https://karendavis.net/

If you would love to see your question answered on a future podcast, contact Edwards & Associates at info@eandassociates.com or 972-267-9191. Or contact any excellent ADCPA affiliate across the nation at www.ADCPA.org

Frequently Asked Questions

Thu, 22 Apr 2021 05:00:00 -0500

The Edwards and Associates team is back answering some of your most pressing questions. They’re kicking this episode off with one of the biggest questions they get about car buying and some of the biggest misconceptions when using your car as a tax deduction.

Also discussed in this episode is why putting your kids on your payroll could be beneficial and what you need to do to avoid raising any red flags.

Plus they cover what dentists should understand about buying multiple practices, like what you should know when proceeding with starting the second practice, why utilizing the same bank for all of your locations could be a very wise move, and why dreaming of someday owning 10 practices might not be what you really want (even though you think it is). They offer some great advice based on what they’ve seen their clients struggle with when taking on this pretty difficult goal.

Another topic covered is business personal property tax, these aren't just random letters that come in the mail, they're for real! The team breaks down what this tax is all about and what you need to know.

And of course, last but not least, they talk about implementing a 401k in your practice.

If you would love to see your question answered on our next FAQ podcast, contact Edwards & Associates at info@eandassociates.com or 972-267-9191. Or contact any excellent ADCPA affiliate across the nation at ADCPA.org.

Dental Practice Transitions

Thu, 08 Apr 2021 05:00:00 -0500

Should you start a dental practice from scratch or buy one with existing patients, and more importantly, existing cash flow? It’s the main question that new dentists ask, and one that should be considered heavily before jumping in.

There are many things to consider when it comes to dental practice transitions, and the team from Edwards & Associates is discussing some of the important things you need to look for when considering either buying a dental practice or starting a dental practice from scratch.

The good news is that the failure rate for dental offices is very low, so either decision can be a good one, and lenders usually look favorably upon someone needing money for a dental practice.

In this podcast, the team weighs the pros and cons of each, and what the important factors are when deciding to purchase vs. startup. They discuss what you should consider when building a practice from scratch. Plus they talk about what you should be considering when purchasing a practice, and why patient count isn’t the most important number.

Before you start down the road of purchasing or buying, this is a must-listen!

Blog Mentioned In This Podcast - What Went Wrong Wednesdays: https://www.adapracticetransitions.com/blog/what-went-wrong-wednesdays-3-contract-issues-that-got-expensive

Have a question? Contact Edwards & Associates to get your question answered and possibly featured in a future podcast, info@eandassociates.com or 972-267-9191. Or contact any excellent ADCPA affiliate across the nation at ADCPA.org.

When to Hire Additional Providers

Thu, 25 Mar 2021 05:00:00 -0500

When is a good time to start adding providers to your dental practice? Trying to time when to add a hygienist or an associate doctor can be overwhelming--hoping you have enough patients but not waiting until it’s too late.

This is one of the biggest questions the team at Edwards & Associates are asked by their clients, and one they’re answering in today’s podcast.

As companies are looking ahead to a post-pandemic world, they’re trying to figure out the best time to bring new providers on board. But there are many questions to answer when hiring a hygienist, an associate doctor, or any other staff.

In this episode, Edwards & Associates discusses: How to know when it’s time to bring in an associate or hygienist. With hygienists in short supply, is there a day of the week that’s better if you can only hire one part-time? How much can you expect a hygienist to help you produce? Should you hire your new team member as an employee or contractor? And, what happens if your staff requires a Visa?

Employee Retention Credit

Thu, 11 Mar 2021 06:00:00 -0500

CARES Act, PPP Loans, Employee Retention Credit, understanding the rules between these relief programs and offerings can be an overwhelming task. Making things more difficult are the constantly changing rules.

In this episode of Beyond Bitewings, the Edwards & Associates team brings some clarity to the Employee Retention Credit changes. They discuss what the changes mean for those who may have missed out on the original application and what you may be able to qualify for because of the new updates.

They dive deep into understanding what type of companies may want to re-visit applying for the Employee Retention Credit and also break down some of the specific qualifications.

Most business owners will find analyzing their situation and applying too overwhelming to do on their own, so make sure you consult with your CPA to help navigate these changes and determine what’s best for your situation.

How To Lead A Team

Thu, 25 Feb 2021 05:00:00 -0500

Buying a dental practice does not automatically make you a great leader. Many dental practice owners find themselves in a predicament where not only do they need to learn how to build a practice, but more importantly, they need to learn how to lead their team to see that practice thrive.

In this episode of Beyond Bitewings, the Edwards & Associates team welcomes Dr. Sharon Tiger, a nationally known practice management consultant and business coach to dentists.

Dr. Tiger discusses what dentists need to learn to become great leaders, important factors to understanding leadership in dentistry, and why you shouldn’t be worried if you’re not a natural-born leader.

She also discusses why creating great job descriptions can help you build a more effective team, how you can create a culture within your dental team, why setting goals is so important to any practice, plus how you can learn to communicate better with your team, simply by practicing and making it a habit.

If you would like to get in contact with Dr. Tiger, please email her at TXTiger2@gmail.com

Preparing For The Next Pandemic

Thu, 11 Feb 2021 05:00:00 -0500

We would probably all prefer to forget about 2020! But as hard as it was, it taught us that you can never be too prepared for the unexpected.

In this episode of Beyond Bitewings, the Edwards & Associates team discusses what dental practice owners can do to prepare themselves for the next catastrophe. The next significant event may not be a pandemic. It could be something much more local, like a flood. No matter how large or small, it’s important that you have the resources and capabilities to handle it.

How much cash should you have on hand? Are there opportunities to cut costs, and how aggressive should you be with those cuts? What are other areas you should analyze when trying to plan for a significant event? These are just some of the questions answered in this podcast.

How To Hire the Right Dental Staff

Thu, 28 Jan 2021 05:00:00 -0500

Hiring can be a challenging event for any dental office, and it may sometimes feel like a hit or a miss when it comes to finding the right staff. However, it doesn’t have to be such a burden or a guessing game.

In this episode of Beyond Bitewings, the Edwards & Associates team welcomes Linda Allen, a Management Consultant for dental practices across the nation. Linda focuses on helping dental offices hire the right dental staff and guides them in creating atmospheres and opportunities to help keep those valuable team members onboard.

Linda discusses the current challenges with staffing for dental offices in addition to specific issues that have arisen because of COVID. She also talks about what to look for in potential staff members to make the absolute best hire.

This episode features discussion on topics like developing great interview questions, the importance of a working interview, understanding how to lead a team, plus so much more. If you’re looking for ways to hire smarter and build a better team, this is the episode for you.

Have a question? Contact Edwards & Associates to get your question answered and possibly featured in a future podcast, info@eandassociates.com or 972-267-9191. Or contact an ADCPA affiliate at ADCPA.org.

Understanding the New PPP Rules

Mon, 18 Jan 2021 05:00:00 -0500

Almost one year ago PPP was an acronym no one knew, and now it’s a source of everyday conversation. As 2021 offers hope for a new year, it also offers some new PPP rules for PPP loan forgiveness, payback, and a new opportunity to receive more help for businesses that suffered from losses in 2020.

In this episode of Beyond Bitewings the Edward & Associates Team breaks down what dental business owners need to understand about the new rules, the new programs, how to know what’s available for them, and how to move forward with the new applications in addition to the PPP Loan Forgiveness Applications.

Before you try to get forgiveness from last year’s PPP loan or attempt to apply for new money in 2021, make sure you listen to this episode.

Have a question for Edwards & Associates? E-mail or call them to get your question answered and possibly featured in a future podcast, info@eandassociates.com or 972-267-9191, or contact any of our affiliates from the ADCPA at ADCPA.org.

Current Lending Environment

Thu, 14 Jan 2021 05:40:00 -0500

The thought of loans can cause a lot of stress, especially when building and growing your dental practice. What’s the best loan? Has the lending process changed considering the pandemic? And are banks making it harder to obtain dental practice loans?

These are just some of the questions the team at Edwards & Associates answer in this episode of Beyond Bitewings.

They discuss the questions lenders ask when trying to obtain dental loans in a world after the shutdown.

Plus they cover basic questions like should you get a home loan first or a business loan first and other topics that could save you thousands on your taxes like simply knowing who to list as the borrower on the business loan.

Before you take out a new loan or pay off any existing loans, be sure to listen to this podcast.

Want to talk to someone at Edwards & Associates? Just email us at info@eandassociates.com. We would love to hear from you!

PPO Reimbursement Rates

Thu, 31 Dec 2020 07:00:00 -0500

Insurance can be a necessary evil in the world of dentistry, and if dentists are doing their own negotiating of reimbursement rates, they could end up overpaying as much as 20 - 25 % for PPO programs.

In this episode of Beyond Bite Wings, the Edwards & Associates team welcomes Shelley DeGroff of PPO Advisors. Shelley, having over a decade of experience in the dental industry, knows the ins and outs of working with insurance companies to get the best rates for dental offices.

They discuss many frequently asked questions such as when is the right time to bring in someone like Shelley to look at PPO contracts. How does a specialist like Shelley help with PPO negotiations? And what kind of savings can they expect? Plus, how has COVID changed the way dentists are looking at both taking on and dropping insurance?

To get in touch with Shelley, you can visit the PPO Advisors Facebook Page https://www.facebook.com/PPOAdvisorsLLC

Their website

https://ppoadvisors.com/

Or you can email Shelley directly

shelley@ppoadvisors.com

If at any time you would like to talk to someone at Edwards & Associates, please feel free to email us at info@eandassociates.com, we’d love to hear from you!

Lease Negotiations

Thu, 17 Dec 2020 05:00:00 -0500

When it comes to leasing dental offices, many dental office owners will seek help when negotiating their initial lease but fail to put in the same amount of effort when it comes to renegotiating their lease renewal. This can be a big mistake.

In this episode of Beyond Bitewings, the team at Edwards & Associates talks to Evan Reynolds of Dental Space Advisors who helps answer some of the biggest questions dental business owners have.

They discuss how to negotiate a lease renewal for a business, and the important factors that need to be considered when you’re working with your landlord. Plus they talk about why bringing in someone like Evan can be so crucial in helping you work out the right terms.

They also talk about the pandemic, and what it means for negotiating a dental office lease, whether it’s new or renewing. Can free rent be considered? You’ll need to listen to find out!

Would you like to connect with Evan and his team? Visit: DentalSpaceAdvisors.com Or MedicalSpaceAdvisors.com

Or you can email Evan at: Ereynolds@dentalspaceadvisors.com

If at any time you would like to talk to someone at Edwards & Associates, please feel free to email us at info@eandassociates.com, we would be happy to help!

Marketing Your Dental Practice

Thu, 03 Dec 2020 05:00:00 -0500

Marketing can be an overwhelming task within a dental practice. Understanding where to best spend your marketing dollars and how to measure results is crucial for the success of your practice.

Eric Hubbard and Andre Santos of Pain Free Dental Marketing join the Edwards & Associates team to talk about some of the biggest marketing questions and struggles dental practice owners have.

In this episode you’ll hear why content is king, why you should treat your practice’s social media different from your personal accounts, and why understanding your demographic is crucial to attracting new patients to your dental office.

You’ll also hear the answer to the two biggest questions. How much should spend on a marketing plan, and what kind of timeline can you expect to see results?

If you’re looking to get the most out of marketing your dental practice, then this is a can’t miss episode.

We are happy to help answer any specific questions you may have. Please feel free to email us at info@eandassociates.com any time or give us a call at 972.267.9191.

2020 Tax Planning

Thu, 19 Nov 2020 05:30:00 -0500

It’s hard to imagine, but 2020 is already almost over, which means it’s time to start making sure your dental practice tax planning is tied up for 2020.

Many dental offices are finding themselves with more cash in the books, and they’re wondering

what they should do with it. Plus, everyone is trying to understand the guidelines for the loans, grants, and unemployment paid during the shutdown. Some of rules around these will not change (i.e. unemployment), and some of the policies are evolving and changing daily.

In this episode, the team from Edwards & Associates discuss where the current guidelines stand when it comes to tax planning and what you need to know as you figure out how to best spend and save your money for 2021.

The team discusses the tax implications from PPP loans and what will be forgiven, other loans, HHS grants, unemployment, and loan distributions from retirement accounts.

They also discuss a few things that you can do right now to get yourself set up for the end of the year and maximum dental tax deductions, including purchasing equipment, potentially adding children to the payroll, and getting your retirement accounts set-up and contributions added.

We understand that tax planning, especially for this year, can all be very confusing and are happy to help answer any specific questions you may have. Please feel free to email us at info {at} eandassociates.com any time or give us a call, and we are happy to help you navigate through your next steps.

COVID Update

Thu, 19 Nov 2020 04:00:00 -0500

As we wrap up 2020, many dentists are wondering how they can optimize the money they received through various grants and loans because of COVID. In this episode of Beyond Bitewings, the Edwards & Associates team discusses the loan forgiveness status and strategies for making sure you’re best prepared for whatever may come in 2021.

There are a lot of questions about PPP loan forgiveness, and the team covers everything you need to know about the timelines for rules for applying for forgiveness of the loan, how and when you needed to spend the money you received, and why the rules of forgiveness aren’t quite yet 100% clear.

The team also discusses the EIDL payment payback. EIDL stands for the Economic Injury Disaster Loan, and why paying back this loan right away might not be the best decision as we enter 2021.

The third thing they discuss is the HHS stimulus payment and what you need to know when it comes to paying this back in addition to preparing your taxes for 2020.

We understand that these can all be very confusing and are happy to help answer any specific questions you may have. Please feel free to email us at info {at} eandassociates.com any time or give us a call, and we are happy to help you navigate your next steps.

Introduction to Beyond Bitewings

Fri, 13 Nov 2020 09:00:00 -0500

In this episode, the team at Edwards and Associates discusses why Beyond Bitewings was created and what you can expect in upcoming episodes.

We know running a dental office isn’t easy. In fact, dentists are taught to be great at their craft, but they’re not taught about the business of dentistry. This podcast aims to help educate dentists on business matters, ideas on how they can run their business more efficiently, and to inform about general issues and current events.

Plus, you’ll be on the inside track of how the firm works together to discuss and brainstorm common scenarios brought up by clients and the best way to tackle those and create dental business solutions.

We hope you’ll join us every other week for a new episode, as we’ll have a combination of guest episodes and episodes with our team.

We would also love to hear from you and answer any specific questions you may have. Please feel free to email us at info {at} eandassociates.com any time, and we may even have your question on the show!