Beyond Bitewings Edwards & Associates, PC

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 compensation

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.

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 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 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) DiscussionMisinterpretation and Abuse of ERC ClaimsCriminal ProsecutionsValidity of ERC ClaimsRed Flags Identified by the IRSVoluntary Correction Program Offered by the IRS