Beyond Bitewings

Edwards & Associates, PC
Beyond Bitewings

Beyond Bitewings focuses on helping dentists with the business side of dentistry. Our podcast episodes are a mix of outside experts, and discussions within our own team of CPA's, financial planning, and business experts. This is the podcast for those looking to strengthen your dental practice, run a practice more smoothly, and increase your take-home pay.

  1. 6 天前

    How Payment Processing Fees Are Hurting Your Profits (Replay)

    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

    39 分鐘
  2. 1月9日

    Creating a Strong Dental Startup Team

    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 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

    12 分鐘
  3. 2024/12/26

    How to Secure Dental Practice Funding

    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 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

    23 分鐘
  4. 2024/12/12

    Effective Strategies for Selling Your Dental Practice

    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: 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

    12 分鐘
  5. 2024/11/14

    Cash Flow and Equity: Investment Tips for Dental Professionals

    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 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

    23 分鐘
  6. 2024/10/17

    The Importance of Cyber Security for Modern Dental Practices

    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/ 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: 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

    21 分鐘
  7. 2024/10/03

    From Classroom to Clinic: Navigating Life After Dental School

    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/ 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 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

    16 分鐘

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簡介

Beyond Bitewings focuses on helping dentists with the business side of dentistry. Our podcast episodes are a mix of outside experts, and discussions within our own team of CPA's, financial planning, and business experts. This is the podcast for those looking to strengthen your dental practice, run a practice more smoothly, and increase your take-home pay.

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