Beyond Bitewings

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 cultureWays to add value for assistants beyond compensationImportance of regular check-ins and career goal discussionsTeam accountability and the role of leadership throughout the practiceImproving the hiring process and assessing team fitThe impact of technology on dental practice workflowManaging generational differences and communication stylesEnsuring compliance with state regulations for assistant dutiesBalancing business profitability with patient care and staff satisfactionTo learn more about or connect with Kevin, you can find him at: https://www.kevinspeaksdental.com/

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 ownersHow multifamily syndications work for passive investorsTypical hold periods, returns, and distributions in real estate syndicatesDefining the role of limited partners (LPs) and their rightsStructuring practice owner compensation and ensuring proper paymentThe importance of generating additional revenue streams beyond practice incomeOverview of investment options: stocks, bonds, real estate, and insurance productsMortgage note investing: process, returns, and investor protectionReporting and payout timelines for investors

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 mediaChoosing the right social media platformsTime and resource allocation for social media effortsSetting and managing marketing budgetsUnderstanding costs related to acquiring new patientsBuilding and maintaining trust with marketing teamsImportance of content in current marketing strategiesTransition from traditional to content-driven marketingOptimizing Google Business ProfilesLeveraging online reviews for better visibility

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 propertiesDepreciation recapture and tax strategiesHarvesting tax losses effectivelyCommon tax mistakes to avoidAudit red flags: meals, travel, and auto expensesCommunity property state tax impactsBusiness property tax explanationsImpact of volunteer services on taxesImportance of communicating with your CPAReal-world tax miscommunication examples

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-evenBAM's significance in establishing staff bonusesConsiderations for calculating BAM, including future expensesEnsuring BAM is realistic and achievableImpact of loan payments, rent, and retirement contributions on BAMPersonal financial goals in BAM calculationsAnnual recalculation and projection adjustments for BAM

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 frequencyRecognizing behavioral signs of embezzlementImportance of independent investigationStrategies for minimizing embezzlement riskSetting internal controls and segregation of dutiesPsychological deterrents in financial monitoringCommon types of fraud in dental officesChallenges in prosecuting embezzlement casesTips for effective fraud prevention and detection

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 727.300.1084If 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.comEpisode Breakdown:The Importance of Google Business Profiles The science of optimizing Google Business for top-rankingGoogle marketing strategy to boost local rankingsThe importance of social media to your Google ProfileAutomated updating, posting, and review managementThe importance of understanding HIPAA to ensure compliance and avoid lawsuits.Lowering the cost for customers

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 BrokersChallenges in the payment processing industryAI and machine learning applicationsSpecific advice for medical and dental practicesImportance of good advisory supportInsights from Jeremy's entrepreneurial journeyCost-saving strategies for businesses

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.comIf 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 teamSteps before applying for a practice loanUnderstanding cash flow and personal financesRole of working capital loansComparing starting a new practice vs. acquiring an existing oneTips for finding the perfect practice locationImportance of fact-checking information

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.Key Topics Discussed:Preparation for applying for a loanThe importance of living within one's meansTypes of dental practice loans: startups vs acquisitionsRole of student debt in loan approvalCriteria for securing a startup loanSignificance of working capitalCurrent lending climate and interest ratesPractice acquisitions and sustainabilityImportance of lender specialization in the dental industryBenefits and process of refinancing

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. For listeners seeking more information, To find out more visit: https://ddsmatch.comKey Topics Discussed:Introduction and guest welcomeRole of a Dental Practice BrokerImportance of networking and experience in dentistryTransition planning for dental practice salesWorking with DSOs versus independent buyersImportance of EBITDA and practice valuationConfidentiality in selling a dental practiceContact information for Steve Hipson and ddsmatch.com

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 AssociatesDefinition and concept of locum tenens in dentistryBenefits for new graduates and retired providersSupport for start-up practicesLogistical support, such as credentialing and licensingImportance of building relationships with providersAccommodation of personal needs, including family and petsPayment processes via Barton and AssociatesTax considerations for locum tenens dentists

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.comIf 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 benefitsTax benefits for business owners and passive investorsDifferences between General Partners and Limited PartnersTransition from single-family to multifamily investmentsTypical holding periods and return timelines for investmentsQuarterly distributions and investor returnsCurrent investment opportunities in Corpus Christi, TexasRisk management and market leverageTreating real estate investments as businesses

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 GroupCyber security threats in dental practicesImportance of secure DNSUser-initiated security risksReal-life examples of phishing and cyber attacksEthical hackingEvolution of ransomwareCompliance with HIPAA and PCIImportance of professional IT servicesTools and services offered by Vital Technology GroupCost-effectiveness of consolidating cyber security tools

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 studentsBuilding a team of experts and networkingEarly preparations during the D3 and D4 yearsFree contract review services for dental studentsRole of social media and influencer marketing in dentistry

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-OffsBusiness Expense DeductionsHandling Cash ReceiptsDeducting Travel and MealsHome Office DeductionsCombining Airbnb with Farming ActivitiesGift Tax Rules and Business EtiquetteDocumentation and IRS AuditsImportance of Consulting Tax Professionals

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 agentsAvoiding conflicts of interest in transactionsTiming for lease renewals and relocationsCommon mistakes in commercial real estateLease abstraction servicesVendor partnerships and additional supportCost benefits of using professional real estate agentsSupport for DSOs and larger healthcare groups

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/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:Importance of client relationshipsStaff engagement and incentive programsTransitioning to cash-based servicesFinancial management and risk preventionMarketing strategies and ROIDelegation and time managementAdapting to external business factors

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 assistantsChallenges of managing a dental practiceHR and workforce management post-COVIDCost-effectiveness of virtual assistanceProven success of virtual staffing solutionsDetailed cost comparison and savingsEnhancing existing staff and practice management

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/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: Court ruling on salary raiseChallenges of salary adjustment retractionEmployee status change from exempt to nonexemptImportance of transparent communicationManaging overtime for nonexempt employeesEvaluating exempt statusImpact of minimum salary increasesHR advice for small businessesEmployee classification and payroll considerationsResources for additional HR guidance

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 dentistryHustle culture and work-life balanceEfficient time management techniquesAI advancements and their impact on dentistryTechnologies like 3D printing, digital impressions, and laser dentistryIntraoral cameras for better diagnosis and treatment planningManaging last-minute patient cancellationsNavigating insurance plans and reimbursement ratesImportance of support staff and marketing efforts

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. 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:Competing with Corporate Dental OrganizationsImportance of Qualitative Aspects in DentistryPersonal Touches in Patient CareIncentivizing and Engaging StaffFinancial Metrics and Team PerformanceShift from Routine Care to Cosmetic ProceduresInfluence of Social Media on Cosmetic DentistryStatistics and Market Growth in the Dental IndustryAdapting to Patient Needs and TrendsPartnering with Distribution Vendors

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 workImportance of personalized client interactionsIncentives and bonuses for staff engagementGrowth of cosmetic dentistry and potential for BotoxInnovative hiring practices, including flexible work optionsImpact of the pandemic on dental staffing and rising costsOffering competitive benefits and compensationFocusing on company culture to reduce turnoverEmphasizing continuous technology upgrades and staff trainingEffective customer interaction and retention strategiesThe necessity of team alignment with business values

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.comIf 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.

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.

*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.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.*Replay from 2023Topics 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 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.comEpisode Breakdown:The Employee Retention Credit (ERC) DiscussionMisinterpretation and Abuse of ERC ClaimsCriminal ProsecutionsValidity of ERC ClaimsRed Flags Identified by the IRSVoluntary Correction Program Offered by the IRS

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.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.comKey Topics:Introduction to BOICategories of Entities Subject to BOIPenalties and Filing DeadlinesResponsibility for Compliance and Potential RisksAdditional Considerations for Complex Business StructuresForms and Filing Process

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 727.300.1084If 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.comEpisode Breakdown:The Importance of Google Business Profiles The science of optimizing Google Business for top-rankingGoogle marketing strategy to boost local rankingsThe importance of social media to your Google ProfileAutomated updating, posting, and review managementThe importance of understanding HIPAA to ensure compliance and avoid lawsuits.Lowering the cost for customers

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.comIf 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.comEpisode Breakdown:Why it's important to understand your practice to improve personal financesHow to find investments that benefit your household's financeHow owner compensation should be linked to practice income but also moreGetting out of the race of the practices needs to make more money to survive.Why moving money is the key to retiring wiselyDiverse investments create multiple income sources for retirementFinancial advisors help people plan for retirement

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 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/implementerEpisode Breakdown:Rehired, grew business, became successful coach. Emphasizing core values for building dream teams.Why core values are crucial for employee alignmentThe book "Good to Great" by Jim Collins emphasizes core values and right people in the right seatSimplify systems and focus on key functionsCreating discipline and accountability to solve issues.The people Analyzer tool validates core values, facilitates conversationsTeach and execute efficient business strategiesImplementing EOS tools can help achieve business objectives.

Do you feel confident that you have the best dental sales representative for your dental practice?In today's episode, Ash is joined by Jeff Vanhess, 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.comIf 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

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/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

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!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

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/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

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. 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

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/.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

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.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

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 Vilford, 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.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

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/blogIf 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

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.

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

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

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

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.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 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

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.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

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. Plus Kiera 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/blogIf 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

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.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

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.

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.

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.