Beyond Bitewings

Edwards & Associates, PC
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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. 26/12/2024

    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. 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 min

  2. 12/12/2024

    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. For listeners seeking more information, To find out more visit: https://ddsmatch.com 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 min

  3. 28/11/2024

    From Burnout to Balance: The Locum Tenens Solution for Dentists

    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

    18 min

  4. 14/11/2024

    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 min

  5. 17/10/2024

    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 min

  6. 03/10/2024

    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 min

  7. 19/09/2024

    Navigating Business Deductions: Common Tax Questions Answered

    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

    52 min

  8. 05/09/2024

    Essential Tips for Dental Practice Purchases and Sales

    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

    25 min
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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.

Información

  • Creador
    Edwards & Associates, PC
  • Años de actividad
    2020 - 2024
  • Episodios
    106
  • Clasificación
    Apto
  • Copyright
    © Copyright 2024 Edwards & Associates, PC
  • Mostrar sitio web
    Beyond Bitewings

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