Beyond Bitewings
Edwards & Associates, PC
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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.
Available episodes
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Oldest first
May 25, 2023
Financial Benchmarks for Successful Dentists
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
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May 11, 2023
Building and Optimizing Dental Practices: Current Trends in the Industry
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.
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Apr 27, 2023
How To Use Social Media to Grow Your Dental Practice
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.
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Apr 13, 2023
Effective Leadership and Communication for Dental Practice Success
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.
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Mar 30, 2023
How To Handle a Bad Review
Is getting a bad review the end of your practice?
On this episode of Beyond Bitewings, the discussion centers around how dental offices can handle reviews from their patients, both positive and negative. Ash and Robert are joined by special guest, Dr. Sharon Tiger.
They talk about the importance of great reviews, and how to ask for a review without sounding like it’s been rehearsed or read straight from a script. They also talk about what to do when you receive a bad review. (Hint: It’s not the end of the world. In fact, it can actually be a good thing.) They discuss why ignoring the review is one of the worst things you can do, but why you have to be extremely careful in what you say due to HIPAA Compliance. They offer suggested replies that will keep you compliant, but will also address the situation.
They also talk about online review software that can be used to request and populate reviews, and the most important sites to publish your reviews.
Unfortunately, bad reviews are going to happen as you can’t please everyone. However, as long as you handle the review correctly, and use it as constructive criticism, they just may end up being a positive thing for your practice.
If you have specific questions about handling reviews for your practice, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.
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Mar 16, 2023
How To Improve Patient Experience
In this episode of Beyond Bitewings, Robert and Ash discuss the changes you can make in your business to improve patient experience. Consequently creating a friendly environment where the patients look forward to coming back and actively refer others to your practice. Don’t forget it costs much less to retain an existing patient than to bring a new one in.
They also talk about training your staff to build relationships with patients. This is key because people do business with those they know, like and trust. The more they feel they know you, the more they’ll trust your recommendations, and keep those regular appointments on their schedule.
The discussion covers, ‘why you should also focus on your staff experience’, as this can help your bottom line in several ways. If your staff is happy, your patients will resonate with that energy and will also be happy. Not to mention the reduction in costs as it will help increase your attrition rate, which will cut down on hiring and training costs.
You mustn’t constantly focus on just the numbers. Although they are very important, other factors impact those numbers outside of just cost and revenue.
If you have specific questions about improving your patient experience, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.
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Mar 2, 2023
Real Estate Note Investments
In this episode of Beyond Bitewings, Ash, Robert and special guest Nathan Turner discuss investing in Real Estate Notes. Nathan has been a veteran in the industry for over fifteen years and explains that he primarily buys residential mortgages from hedge funds or banks and gets a better yield by getting them at a discounted rate.
When a non-performing mortgage note is purchased, the purchaser buys the right to continue to collect the payments by becoming the new “bank” for the borrowers. Nathan has created a fund through his company, Earnest Investing, where he buys these notes and holds them into a fund, offering a guaranteed 8% rate. (Not up to 8%, but a guaranteed 8% rate).
Nathan talks about why this can be a great investment opportunity for those looking to diversify their investments. Worried about the recession impacting your investments? Well, this investment performs even when the economy slows down.
To find out more about Earnest Investing, visit: https://earnestinvesting.com/
If you have specific questions about real estate notes investments, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.
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Feb 9, 2023
How To Mitigate the Rise of Inflation and Expenses
As inflation and interest rates have been on the rise, business owners have found themselves with rising costs. Since we may not have an ending in sight quite yet, what can you do now to mitigate these changes in your practice?
In this episode of Beyond Bitewings, the Edwards and Associates team discusses different ways you can increase revenue and decrease costs in your dental practice. Raising your rates might be the first thing you consider, but you may be stuck if insurance companies don’t increase what they’re paying you back.
They discuss why you may want to take inventory of the insurance programs you’re accepting, and why it may be in your best interest to look at renegotiating your fees or possibly even dropping some of them. It may feel scary, but when done the right way, you may actually see an increase in revenue and clients.
They also talk about marketing, and why, even though this may be an increased expense right away, the right campaign will end up paying off over time. You can also try simple things like asking for referrals or training your front staff to ask for reviews as they’re checking out from their appointment.
Although you may be feeling the squeeze, there are some changes that you can make to help offset the cost increase without having too large of an impact on your practice.
If you have specific questions about how to decrease expenses or grow your revenue, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.
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Jan 26, 2023
The SECURE Act 2.0
The SECURE Act 2.0 was signed into law in late 2022, and there are several ways it may affect you and your retirement accounts. The Edwards & Associates team covers everything you need to know for these upcoming changes.
In this episode, they discuss the new changes for age limits on the Required Minimum Distribution. Basically, this covers when the government wants you to start taking distributions from your accounts (so they can start getting their tax dollars).
They also talk about new ways the government is helping people get more relief in times of need by allowing up to $1,000 annually to be taken from a retirement fund without penalties.
Also, have you heard about the auto-enrollment in your company’s 401K program? This is something that will be rolled out where if you start with a company, and they offer a 401K, you will automatically be enrolled at 3%.
There are also new programs where if you’re making contributions towards your student loan debt, your employer can still pay into your 401K match based on the amount you’re paying on your student loans.
Plus they discuss what benefits employers who offer retirement plans to their employees may see from this new bill. This may be the perfect opportunity to start adding this program into your practice and allowing your employees to get one more perk, and you may see more tax benefits.
If you have specific questions about your retirement plan or the plans you offer your employees, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.
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Jan 12, 2023
Practice Owners Most Common Tax Questions
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 get ready for 2023 and learn how to save more money on your practice’s taxes!
If you have specific questions about your expenses on your taxes, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.
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Dec 15, 2022
The Journey From Dental School to Practice Owner
The road from dental school has many options, and knowing which direction to take can feel overwhelming.
In this episode of Beyond Bitewings, the team at Edwards and Associates talks to Dr. Trisha Patel to discuss her journey out of dental school to building her own practice.
Dr. Patel shares how her background in business and working with a DSO helped to give her a head start in running her own business. However, she also talks about how starting a business during COVID (plus while becoming a new mother) set her up for some challenges along the way.
Through all the ups and downs, though, Dr. Patel talks about why she is happy with the decision she made, and why it’s so important to have a team of great advisors on your side. She also talks about why she decided to build her own practice from the ground up instead of buying an existing one.
She also talks about her experience at the DSO, and why it helped her to understand the things she saw they were doing well. It also help…
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Nov 30, 2022
Failure Is Just Part of the Process
When you’re building a practice, things may not always turn out the way you want to. However, that doesn’t make you a failure, it simply makes it all part of the process.
In this episode of Beyond Bitewings, Ash and Robert are sharing some of their favorite stories of clients who hit major roadblocks while running their practice. Instead of giving up, these clients persevered and came out on top. They talk about what happened, and how they changed course to make their practices a success.
Sometimes it’s about cutting losses; sometimes it’s about making changes; sometimes bankruptcy is a consideration; and sometimes it’s about not being a business owner at all. And all of those are okay.
When it comes to failure, it’s not a matter of being able to avoid it, but changing course and continuing when something does happen.
If you have specific questions about failure or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & A…
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Nov 17, 2022
How To Prevent Embezzlement
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…
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Nov 3, 2022
Practice Management Reporting
When it comes to running your dental practice, there are many things you can do to get a pulse of how your practice is running. One of those is by looking at specific reports.
In this episode of Beyond Bitewings, the Edwards and Associates team is joined by Nancy Kagan, COO of Rosen Summit Dental Advisors to discuss the biggest mistakes she sees dental practice owners make, and what reports you should be looking at on a daily basis, no matter which software you use.
They also talk about the basic information some of these reports can tell you, for example, an adjustment report can shine a light on potentially fraudulent activity in your practice. She also talks about why sometimes things may look suspicious, but it may not be fraudulent activity. Instead, it may just be a lack of training for those who need to view the reports on a daily basis.
They also talk about why looking at your outstanding claims report on a consistent basis can be valuable. It’s important to not just l…
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Oct 20, 2022
2022 Tax Changes
There are a lot of tax changes happening in 2022 and 2023, and in today’s episode of Beyond Bitewings, the Edwards and Associates team is talking about the changes that may affect you, and what you need to know about them.
You may have heard about the $80 Billion Expansion of the IRS, and with $47 Billion of that money going towards audits, the question becomes who exactly are they going to go after. There is some back and forth on understanding how it will be applied. However, what is known is that ERC Credit recipients will be scrutinized. There are some rules and regulations that need to be followed with this credit, and they’re going to be checking to make sure those that took it, did it correctly.
They also talk about the Inflation Reduction Act, and what you need to know about the tax credits that are from this new bill.
When it comes to saving on energy, there are several different types of credits: the electric vehicle credit and the home energy credit. They disc…
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Oct 6, 2022
Patient Membership Plans
Have you thought about offering a patient membership plan but aren't sure where to start? Or are you wondering about different options that could be added to your current patient membership plan?
As more dental practices are moving to offer membership plans to their patients, how to charge for these plans can be confusing when considering what options to offer, etc. In this episode of Beyond Bitewings, Ash and Robert and are joined by Katie Franklin, Director of Illumitrac Software, to discuss why patient membership plans are becoming so popular for dental practice owners, and what you need to know about adding such a plan to your practice.
Katie discusses why it is so important to focus on the relationship between the patient and the practice first when creating your membership plan, and why some states are cracking down on how practices are charging for these plans.
They also talk about how dentists can customize their own plans and the different options typically seen. Plus they…
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Sep 22, 2022
The Most Important Calculation For Your Practice
BAM! It’s not just something the chef, Emeril Lagasse used to say, but it’s actually one of the most important numbers your dental practice should be tracking.
In today’s episode of Beyond Bitewings, Ash and Robert talk about BAM, also known as the ‘Basic Amount of Money’ needed to operate your practice on a monthly basis, and why this is such an important number in your practice. They also talk about why practice owners oftentimes overlook this number, and why focusing solely on other numbers like production and hygiene billing can be a costly mistake.
In addition, when looking at the practice as a whole, many practice owners believe that net income is the main line item they should focus on. However, when only focusing on net income, you’re potentially not considering other factors that could be affecting your bottom line. This is where BAM comes in as it’s not just about practice overhead, but it’s about looking at the doctor’s goals of take-home pay, retirement,…
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Sep 8, 2022
Improve Your Hygiene Department
Is your dental hygiene team working to their full potential?
It’s common to find that dental practice owners haven’t ever seen a dental hygiene department working in tandem and generating their full income potential so these practice owners aren't even aware of the possibilities.
Most dental practices have room for improvement in the efficiency and mindset of their staff, and that’s where Rachel Wall comes in. Rachel is the founder of Inspired Hygiene, a company committed to helping dentists tap into hygiene’s profit potential through coaching webinars, and mastermind groups.
She joins the team at Edwards & Associates in this episode to discuss where dental practice owners are missing the mark in terms of their hygiene department, and why they may be leaving massive money on the table.
She also discusses why it’s so important for teams to work together, and where you begin to get a hygiene team to work to its full potential. They also talk about why the majority of hygi…
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Aug 25, 2022
2022 Updates
It’s hard to believe we’re still talking about COVID/Pandemic programs, but the truth is that we’ll probably still be talking about them for a long time.
In today’s episode of Beyond Bitewings, Robert and Ash are covering some of these programs, and other things that might be changing based on the potential passing of new bills in 2022.
The first thing they cover is what you need to know about the Economic Injury Disaster Loan (EIDL), and when you need to start thinking about paying it back. Although the program is over, payments on it haven’t started and holding off that payback may be in your best interest.
They also talk about the Provider Relief Fund. Again, this fund is no longer taking applications, but there are requirements for reporting, and those are based on when you took out that money. They discuss what you need to know about when your reports should be submitted.
Other topics they cover are why getting an NPI number was important for some of these programs,…
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Aug 11, 2022
How To Make Your Practice Run More Smoothly
When it comes to running your practice, do you find yourself wishing things could run a bit more smoothly?
The good news is that there are several different things you can implement today to help make a much more cohesive team which will help to make the practice run much more smoothly. Ash and Robert discuss their tips and tricks to help.
They talk about policies and procedures. Often times doctors feel this is unnecessary or too much of a headache to create. However, it eliminates questions within your staff and helps everyone get on the same page with expectations and what they can expect from working at your office. The last place you want to be is where people are making assumptions or are unsure.
They also discuss bonus structures. Again, this can feel like a cumbersome task, but is actually easier than many doctors think. Plus this can be an item that really brings a team together in one common goal.
Another idea they have is goal setting with the office team, daily hudd…
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Jul 28, 2022
What To Consider Before Selling to a DSO
When it comes to selling a practice, many dentists find themselves contemplating the decision between selling to a DSO, going down a traditional path, or even to selling at all. Although selling to a DSO may seem enticing, it's important to understand the full picture before making this important decision.
In this episode of Beyond Bitewings, Ash and Robert discuss what DSO’s are, how they work, and what they are usually looking for when it comes to acquiring your practice. Plus they talk about what is important for you to know before you sign any dotted line.
They also discuss how DSO’s typically determine a sales price, and how they make it much more straightforward than traditional buyers. Plus they discuss, on average, what a DSO expects from the owners when purchasing, and why an owner could end up losing a lot of money by selling too early.
They also talk about that although it may feel like it’s an urgent decision, why it’s important not to rush into anything, in ad…
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Jul 14, 2022
Running Your Dental Business
When it comes to running your dental business, you may often feel like you’re in constant defensive mode vs. getting ahead of potential issues. In this episode of Beyond Bitewings, Ash and Robert are giving some of their best tips and tricks for making running a business more smooth, and how to become more proactive on common issues.
The first thing they talk about is being able to provide tax and business data on time, and the best way to do this is to keep better records. They recommend collecting the data as you go versus waiting until the end of the year and even using apps like MileIQ to track information like mileage while you’re driving.
The IRS is receiving more funding this year, which means for the first time in several years, we will see an increase in audits. So having more accurate and trackable data is going to be important in case you ever do get audited.
They also discuss secret shopper calls and exit interviews, and why both of these are so important for the s…
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Jun 30, 2022
Preventing Cyber Security Attacks
What do you know about preventing cyber security attacks in your practice? Maybe you feel your practice is too small to be a target, unfortunately, you’re very wrong.
No matter the size, your business could be vulnerable to cyber-attacks, which means your patient’s data could easily get in the wrong hands. You could also be in a situation where they hold your data ransom, and you need to pay a price for them to release it.
So how do you make sure your business isn’t defenseless against potential attacks? Well, that’s where Ieshea Hollins comes in. Ieshea is the founder of the Direnzic Technology Consulting Group. She joins Robert and Ash on this episode of Beyond Bitewings to discuss why small businesses, like dental practices, are the most susceptible to cyber-attacks, and what they can do to prevent them.
She also talks about why it's so common for business owners to avoid talking about cyber security because they just don’t understand what they really need to do, and wh…
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Jun 24, 2022
How To Use Personality Assessments When Hiring
Do you know how to use personality assessments when hiring? Most dental practices are experiencing hiring to be very difficult. It can be even more frustrating if you finally think you’ve found that right hire, only to discover they’re a horrible fit in your practice.
As bad as this sounds, it's an unfortunate reality for more and more practice owners. In these times of finding great help to be more difficult, practice owners find themselves more desperate and they’re making offers solely on how they feel the candidate can perform the job. However, they’re forgetting to make sure the person will also be the perfect fit for their team.
So how do you make sure you have not only a great person for the job but one that will also mesh well with all of your other employees? Conducting an assessment like DiSC can help determine what type of personality you need within the role, and what type of person your prospect is.
DiSC is a personal assessment tool, and Tamra Whitley joins the…
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Jun 16, 2022
Dental Team Conflict Resolution
Do you find yourself dealing with dental team conflict resolution and team drama in your dental practice way more than you would like?
Unfortunately, this is a very common theme among dental practices. All too often, owners find themselves spending just as much time, if not more, unwinding the issues of the staff than they do practicing dentistry.
So if you can’t avoid conflicts, what’s the best way to approach conflict resolution? Dr. Sharon Tiger joins Robert and Ash in this episode of Beyond Bitewings to discuss some of the best practices when it comes to helping doctors understand how to approach conflicts before they become a bigger problem. Plus, she talks about ways to help diffuse a situation if it has gotten to the point where it is causing a lot of issues in the office.
They also discuss the best approach to letting someone go, and why it’s important to not give them specific reasons why it’s not working, in addition, they talk about who you should contact before m…
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Jun 2, 2022
Should I Consider Hiring an Associate Dentist?
Have you considered hiring an associate dentist for your practice?
When it comes to growing your practice there are various ways you can expand, and many times dentists find themselves needing to bring on a dental associate to help with the patients. Although this is a great way to expand, it’s a step that needs to be done with extreme caution. You want to make sure that the person you bring in is the right fit for you and your practice.
So how exactly do you do that? The team at Edwards & Associates welcomes Dr. Sharon Tiger back in this episode of Beyond Bitewings and they discuss the things you need to consider before signing a contract with a new associate.
They discuss, first, how you can analyze what’s happening in your practice to determine if this is the right next step for you or not. Once you’ve determined that adding an associate is the best move, they discuss how personality assessments like the Culture Index are your best next step. This isn’t just for the ass…
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May 5, 2022
Impact Your Practice with AADOM
No matter what industry you’re in, learning to build and run a business can be a very lonely road, and learning from others in your field, can be a huge blessing.
In today’s episode of Beyond Bitewings, the team at Edwards & Associates is joined again by Tamra Whitley who discusses her membership in the American Association of Dental Office Management and how you can impact your practice with AADOM. Tamra is the owner spouse and Practice Administrator of Whitley Family Dental, and she shares her story of how she ended up helping to run the practice with her husband.
Tamra shares how she started in the front office, not having any idea what she was about to get into, and how becoming a member of the American Association of Dental Office Management (AADOM) was a complete game-changer for her.
She discusses what an association can help with in terms of understanding potential blind spots, and how you can run your practice more efficiently. She also discusses why it isn’t just a…
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Apr 21, 2022
Your Most Frequently Asked Questions of 2022
Although it feels like we are moving on from the pandemic, there are still a lot of questions about the government programs that were offered to business owners.
The team at Edwards & Associates is covering some of your most pressing questions abound things like ERC Credits and Refunds, the HHS Stimulus, PPP forgiveness, and when to pay back your EIDL Loans.
They’re also covering more questions like should you lease or purchase your car, and how can you qualify for using your car for a business. Plus, what does the credit look like for using electric cars?
Before you end up having to pay back money you really don’t need to or miss out on qualifying for a credit, make sure you listen to this podcast to get some of those questions answered. And of course please always consult with your CPA or reach out to the team at Edwards & Associates if you have any more questions.
If you do have specific questions about some of these government programs, or taking advantage of tax credit…
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Apr 7, 2022
Employer Tips
Running your own practice may feel glamorous, and many start their own or purchase one thinking it’s going to be easy. However, although there are many ups, there are times when you may find yourself in many downs.
What are some things you can do to really embrace the role of an employer and build your practice the right away? The team at Edwards & Associates is discussing some tips for employers in this week’s episode.
Robert Edwards shares his experience running his own company in addition to the things he didn’t anticipate being potential issues. For example, finding clients wasn’t hard for him, the difficult part was building the right team. Plus one of the biggest challenges employers face is once you find the right team, letting go of control to let them thrive.
They also talk about the importance of learning to be flexible in all aspects of your business and continuing to have the right mindset even when things aren’t going your way.
If you have specific questions…
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Mar 24, 2022
How To Successfully Transition From Employee to Employer
Owning a business isn’t for the faint of heart, and this is especially true for dental practice owners. The transition from becoming an employee to an employer can be difficult if not done correctly, and in this episode of Beyond Bitewings, the team at Edwards & Associates is covering some of the things that you should consider before making the switch.
One of the most important factors to understand is that being an employer isn’t for everyone, and there’s nothing wrong with staying on the employee route. Plus it’s a good idea to wait a few years after getting out of dental school before venturing out on your own. The sweet spot is right around three to five years before moving into your own practice.
They also talk about what’s important to do when you’re thinking about moving from employee to employer and how you should best utilize your time and education as an employee to get ready for that move. In addition, they talk about why a dental study club could be one of th…
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Mar 10, 2022
How To Hire Specialists In Your Practice
Bringing in specialists can be a great addition to your practice, but the process can be overwhelming. How do you know what specialties to bring in? And more importantly, where do you begin finding the right people to fill these roles?
Santosh Patel, Co-Founder, and President of Complete Specialty Solutions joins the team at Edwards and Associates on this episode of Beyond Bitewings to discuss why this could be a game-changer for your practice, and how his company can help take the headache out of this process.
The good news is that you don’t need to bring in someone full-time for your practice. They can come in as little as a few days a month and can offer these additional services to your clients.
Santosh discusses some of the biggest issues dental practice owners have when trying to hire a specialist, what you need to consider when bringing in a new service and specialist, and how you can avoid some common mistakes.
He also discusses why this can really help your practice grow…
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Feb 24, 2022
Understanding DSOs
We’ve all heard of DSO’s (Dental Support Organizations) in the world of dentistry. However, even though it’s common, there are still a lot of questions dental practice owners have when it comes to DSOs, and the team at Edwards and Associates are answering those in this episode of Beyond Bitewings.
Robert and Ash are talking about why DSOs can offer so much more money in offers to purchase dental practices, and what they consider in their calculations that allow them to offer so much.. Plus they discuss why selling your practice to a DSO buyer may be more beneficial than just more money.
They also talk about the two types of DSOs, which are private equity-owned, and doctor-owned, and the pros and cons of each of those, plus so much more!
If you’re considering selling anytime in the near future, or just want to better understand your options as your practice grows, don’t miss this episode.
If you have specific questions about DSOs or if you'd like to have another question a…
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Feb 10, 2022
2022 Tax Planning
As we enter a new year, there are a lot of questions about tax rates, and what’s going to happen to them in 2022. Should you plan on your tax rate going up? It’s one of the most common questions asked, and although it’s not possible to say for sure that rates will rise, it’s almost certain that they’re not going to go down in 2022.
So even though we’re just at the start of 2022, you should start thinking about ways to mitigate any changes to tax rates. The team at Edwards & Associates are covering all of the common questions regarding 2022 taxes in today’s episode of Beyond Bitewings.
As we wait for Congress to pass important legislation, and watch as the IRS starts to track Cryptocurrency more aggressively, it’s important to know how you should be tracking the purchase and sale of your assets. You’ll also need to make sure you hang on to any letters you receive from the IRS regarding the Child Tax Credit, and what to consider regarding any PPP loans that were tak…
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Jan 27, 2022
Lending Options in 2022
With interest rates still at an all-time low, it’s a great time to think about either refinancing a current loan or taking out a loan that you’ve been considering for a while, maybe it’s time to look into your lending options in 2022.
Although no one knows for sure when rates will rise, and how much they will rise, what is known is that there’s a very good chance that they will rise in 2022.
In this episode of Beyond Bitewings, the team at Edwards & Associates answer some of your most pressing questions when it comes to taking out loans, whether it’s for a new practice, an existing practice, or refinancing a current loan.
They talk about what you need to know about rate lock-ins and why you may have more time than you realize to get your loan ready. They also discuss what you should know if you would like to get a start-up loan, why demographics are so important, and things to know about setting your loan term length to get the most out of your cash flow.
If you have spec…
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Jan 13, 2022
Exit Your PPOs WITHOUT Losing Clients
Would your practice survive if you stopped taking insurance?
It’s a question many dental offices are asking, but are too worried to truly explore. However, the answer may surprise you.
Tamara Whitley joins the Edwards and Associate’s team during this episode of Beyond Bitewings, to talk about her journey of removing insurance from her husband’s dental practice.
After seeing her husband’s office make less money than he was making working as an employee for another office, they started to dig a bit deeper to how they could see where profits might be falling short. What Tamra uncovered was more than disconcerting, and they saw how taking insurance was actually losing them money vs. making it.
With the help of Craig at Solutions 101 (https://www.s101medical.com/), Tamara was able to see how insurance was affecting their practice, how much they had in outstanding claims, and how to create a roadmap that got them on the path to more profitability.
Tamara talks about how she ch…
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Dec 30, 2021
Billing Medical Insurance for Dental Procedures
Have you tried to bill medical insurance for a dental procedure, but the claim was denied or something else went wrong? Are you thinking about doing more medical billing for dental procedures but aren’t sure what your options are?
As more and more insurance companies recognize the importance of dental procedures to the overall health of patients, billing medical insurance for dental procedures is becoming more common. However, many dental practices attempt to do their own medical billing, but fall short due to incorrect diagnosis coding or because they’re not aware of the vast difference between dental billing and medical billing.
This is why Surety Dental Services started their business because they saw so many dental offices getting medical claims denied and missing out on payouts.
Medical billing is an entirely different skill set. So instead of hiring more staff you can bring in Surety to help you get your claims paid and have your staff focus on what matters most, your pati…
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Dec 16, 2021
How To Retain Valuable Employees
How do you find the right people to work for your practice, and most importantly, what can you do to make them stay?
It’s two of the most important questions employers are asking themselves in today’s climate, and one that the team at Edwards and Associates is discussing in this episode.
Gone are the days when paying more was the solution to keeping employees. We are experiencing the time of the great resignation, and companies are scrambling trying to find ways to attract talent in addition to keeping their employees happy. Plus as we see a workforce move more to remote work, dental offices must come up with more creative ways to keep staff motivated to come into the office
What do employees really value, and what have other companies found that have worked? After hearing from some of Edwards and Associates’ clients, we’re getting an inside look into what companies have implemented. Some of the ideas that are discussed are things like offering different incentives like chil…
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Dec 2, 2021
Cryptocurrency: An Introduction
It’s hard to go anywhere these days without hearing someone talk about cryptocurrency. As it becomes more mainstream, more people are wanting in but they’re not exactly sure how to start.
In this episode the team from Edwards & Associates is visited by ‘Will’, an investor who has been investing in the cryptocurrency field for quite some time. The team is getting asked a lot of questions about cryptocurrency and Will is here to answer them.
Will and the team discuss the safety of this investment, how you should store your cryptocurrency, are there regulations for it, and if not, are they coming. Plus they talk about how you should report your trading, how cryptocurrency is taxed, and understanding the basic terms like what’s a cryptocurrency, vs. a token, vs. a blockchain.
Will also mentions a few websites to help with your investing, which include Gemini.com and Coinbase.com.
If you have specific questions about this episode or if you'd like to have your question an…
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Nov 18, 2021
2021 Yearend Tax Planning
It’s that time of year! As 2021 comes to a close, it’s time to start making sure you have all of your loose ends tied up when it comes to 2021 yearend tax planning. There’s a lot to think about as we get ready for 2022, and unfortunately, there’s a lot of uncertainty about what’s going to happen with tax laws, and there are a lot of items that aren’t 100% clear yet as potential new tax laws sit in front of the legislature.
The team at Edwards & Associates is giving you the low down on everything they want you to know and consider as the year comes to an end. They’re discussing what will change in the upcoming year, in addition to what could change and why 2021 yearend tax planning is so important.
In this episode, they’re talking about potential changes in the tax rates, including capital gains tax. You’ll also learn what you need to know about retirement plans, including both Roth and Traditional IRAs. Plus they’re talking about what you should consider for equip…
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Nov 4, 2021
Secret Shopper Calls
When a new patient calls, are you confident your front desk is handling everything correctly?
In today's Beyond Bitewings episode, the team at Edwards & Associates is finding out how well your front desk team is handling new patient calls, and the results may surprise you.
Are they collecting information to reach back out to people who don't schedule an appointment? Are they simply answering questions or going above and beyond? Are they leaving potential patients on hold for long periods of time? Are they even answering the phone?
In this episode, you'll get a behind-the-scenes look at a few actual calls and hear first-hand how to improve your process and how little things can make a big difference in getting new patients and growing your practice. Curious how your team measures up in comparison? Make sure you listen!
If you have specific questions about this episode or if you'd like to have your question answered on a future podcast, please make sure to reach out to the Edwards &…
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Oct 21, 2021
How To Avoid PCI Compliance Mistakes
PCI Compliance, as a Dental Practice owner, do you have it? Do you even know why it’s important?
PCI Compliance is one of those areas that many practice owners know about, and know that they have to consider it. However, actually making sure their practice is compliant can be a whole different thing.
On today’s episode of Beyond Bitewings, the Edwards and Associates team welcome
Danielle McKinley, a Certified HIPAA Advisor with 10+ years of experience in risk management, and Director of Partnerships at PCIHIPAA.
Danielle brings her wealth of knowledge to discuss PCI Compliance and why one of the biggest mistakes practice owners make is pushing it off to the side.
She discusses why having someone come in to help with a risk assessment is so important in addition to common myths about PCI Compliance, and why having an association agreement is so important, plus so much more!
If you have specific questions about this, please make sure to reach out to the team. Or if you'd…
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Oct 7, 2021
Understanding Provider Relief Fund Reporting
In today’s episode of Beyond Bitewings, the team at Edwards & Associates is discussing the Provider Relief Fund (formerly HHS). As we enter the fourth quarter of 2021, there are many questions about this relief and the team is here to answer them.
Just like many of the other programs that were developed due to the pandemic, the Provider Relief Fund also has constant changes in the rules and regulations on when it should be reported and if it should be paid back.
The team discusses what this program is, what it was initially designed for and why that’s important to understand when you’re reporting it. They also talk about how you should be reporting it, and most importantly, if you should hire a professional or not to do this for you (the answer may surprise you.) Plus they discuss when you need to be ready for each phase.
If you have specific questions about this, please make sure to reach out to the team. Or if you'd like to have your question answered on a future podcast, co…
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Sep 21, 2021
Preventing Embezzlement 101
You may not believe embezzlement can happen in your practice, but it’s something one in every six dental offices in the United States experience. So although you may not think it is happening in your practice, it could very easily happen to you.
Allen Schiff, Certified Fraud Examiner, joins the team at Edwards & Associates to discuss embezzlement and what dental offices need to know about preventing and handling it.
Allen discusses the different ways embezzlement can show up, from staff cashing checks made out of the office and writing out checks to fake companies for services never rendered to selling supplies that never made it to the supply shelf through sites like eBay.
Unfortunately, there are many different ways employees can take advantage of a practice. However, the good news is that you can put some pretty simple practices in place to help prevent it and find ways to check and balance to make sure you don't fall victim to embezzlement.
If you want to connect with All…
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Sep 9, 2021
Streamline Your Front Office
When running a dental practice your front desk must be running as efficiently as possible, and one of the biggest wastes of time can be finding out the details of a patient’s dental plan.
Figuring out what is covered, how much etc., based on every single employer’s plan can take hours for your staff.
Luckily, there’s a great solution, and Karen Newton of Dental Systems, Inc. is joining the Edwards and Associates team to talk about their product IAPlus.
IAPlus helps dental offices save time by having all of the details of each employers’ plans right at their fingertips. This allows the office to find out what the patients’ responsibilities will be, in addition to all of the nitty-gritty processing guidelines that can sometimes take hours to find.
What’s also great, is they also offer a guarantee on the information they provide, so offices can be sure about what they’re charging and presenting to their patients. And although IAPlus has competitors, Karen explains why…
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Aug 26, 2021
What’s the ERC? Where Are My Taxes? And Other Pressing Questions
What is happening with your 2020 tax returns?
It’s a question asked of the Edwards and Associates Team on a frequent basis, and one that unfortunately doesn’t have an easy answer.
We can all agree the pandemic has thrown a few curve balls when it comes to running your practice, and unfortunately the 2020 tax returns are just one more area that’s being affected.
In today’s episode the team talks about why all of the changes and confusions in the rules are holding up tax returns, a breakdown of the latest updates in ERC (Employee Retention Credit), and why dental office owners need to be careful about the advice they’re getting when it comes to ERC and the payback and forgiveness of PPP loans.
This is definitely a can’t miss episode as it’s crucial to stay up to date on these frequently changing products and rules.
If you'd like to have your question answered on a future podcast, contact Edwards & Associates at info@eandassociates.com or 972-267-9191. Or contact any…
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Aug 12, 2021
How A CEREC Can Boost Your Practice
Is buying a CEREC worth the investment?
It’s a question many dental practice owners are asking.
In this episode of Beyond Bitewings, Dr. Peter Hazim joins the team at Edwards & Associates to share his experience with implementing a CEREC machine into his practice.
Dr. Hazim shares how he bought his CEREC system right before the pandemic and how he has still seen a large return on his investment despite making this large investment during that difficult time.
In this episode, you’ll learn how you can write off a large portion of this expensive technology, why it may be a better investment than you think, and how Dr. Hazim has been seeing big returns not just for his practice but by improving his patients’ experience.
If you'd like to have your question answered on a future podcast, contact Edwards & Associates at info@eandassociates.com or 972-267-9191. Or contact any one of the excellent ADCPA affiliates across the nation at www.ADCPA.org
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Jul 29, 2021
Relationship Dentistry
Are your patients excited about visiting your practice?
Many dentists have believed the answer to this question will never be ‘yes’ and that people just hate visiting the dentist. However, when Dr. Robin Bethel was building his first practice he was determined to build a practice where he would get an answer of ‘yes’ consistently from this question.
In this episode of Beyond Bitewings, Dr. Bethel joins the Edwards and Associates team to talk about how he focused on relationship building with his patients and how it has paid off dividends for his practice. Plus he discusses why this focus has helped him build three more successful practices in the Austin area.
Dr. Bethel’s practice has hundreds of Google Reviews with a 5-star average, which is almost unheard of in the dental industry.
He discusses how his goal for his practices isn’t about getting the most number of patients in and out, but it’s about creating the best experience for each patient that walks through his…
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Jul 15, 2021
Employees and the COVID Vaccine
Can you require your employees to take a COVID shot? This is one of the most frequently asked questions of any business right now, and a very important topic within the dental community.
In this episode of Beyond Bitewings, the team at Edwards & Associates welcome back Joe MacGregor, attorney at MacGregor & Oblad.
They discuss why although there’s a pretty clear answer to this question now, this is an ever-evolving topic. They also talk about what happens if an employee is fired for refusing the vaccine and whether or not the laws change in their favor. Will the employer still be held liable? Plus so much more.
If you’re an employer trying to figure out how to best navigate this extremely delicate topic, then this is a can’t miss episode.
If you'd like to have your question answered on a future podcast, contact Edwards & Associates at info@eandassociates.com or 972-267-9191. Or contact any one of the excellent ADCPA affiliates across the nation at www.ADCPA.org
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Jul 1, 2021
Dental Study Clubs
One of the hardest parts about running a dental practice can be feeling like you’re doing it all alone. Once you graduate from dental school, you’re no longer surrounded by peers. Yes, you hire staff, but leaning on them to help you overcome some of the struggles of running your business isn’t a possibility.
The good news is that there’s an answer to this problem, and that answer is Dental Study Clubs.
Dental Clubs consist of groups of dentists where they meet on a frequent basis to discuss best business practices, issues they may be having, plus many other topics that can help them build and grow their practice.
In this episode of Beyond Bitewings the Edwards and Associates Team discuss the different types of dental clubs, the pros and cons of being a part of one, and what you can expect when trying to find the right club that’s for you.
If you'd like to have your question answered on a future podcast, contact Edwards & Associates at info@eandassociates.com or 972-267-91…
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Jun 17, 2021
5 Things All Dental Entrepreneurs Should Know
Finishing Dental School is only the beginning of a dentist’s journey. Not only do they need to understand their trade, but it’s equally as important to understand how to navigate their way through the world of business once they’re ready to start putting all that they’ve learned to work.
In this episode of Beyond Bitewings, the Edwards & Associates team is joined by Joe McGregor, Attorney and host of the Jaw Law Podcast. Joe's focus is to help dentists become more aware of potential business issues and to help them understand how others have been able to deal with them.
Today, Joe discusses five things that every dental entrepreneur should know, and why these five things are so important to the success of your practice. You’ll learn about the questions you should be asking, when to ask them, and why it’s crucial to put the right advisors in place for your practice.
If you’d like to learn more about Joe and his Firm, visit http://www.mcgregorfirm.com/ or email him dir…
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Jun 3, 2021
In-House Patient Plans
Many dental practices look at credentialing with insurance companies as a way to attract patients, but there are other ways that dental practices can attract and keep their patients. One of those is through membership programs. On today’s episode of Beyond Bitewings, the team welcomes Katie Franklin, Program Director for Smile Advantage.
Smile Advantage helps dental practices implement and run membership programs, and Katie is discussing why every dental practice should consider adding one as a resource for their patients. Not only are membership programs attractive to those who may not have insurance, but Katie has also found that even those with insurance many times take advantage of the program.
Katie and the Edwards & Associates team also discuss what type of typical benefits are offered with a membership program, what goes into implementing a membership program and the costs involved, how to get the whole team on board, and why membership programs don’t make sense in some ca…
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May 20, 2021
Fresh Out of Dental School
You’ve finally accomplished your goal of graduating from dental school. However, just when you thought you'd reached the end, you find yourself at the beginning and there are a lot of different options ahead of you in terms of starting your career.
Should you jump in and start your own practice? Should you work as an employee for one company for a while and learn the ropes? Or should you work as a contractor for several different companies to learn the techniques from several different dentists?
These are questions going through so many graduates’ minds, and ones the team at Edwards and Associates gets asked frequently.
In this episode, they’re covering the different options that new dental school graduates have, and what is important to understand before striking out on your own or being an associate.
Questions answered in this episode:
* What kind of agreement should you have in place if you’re going to work for another dentist?
* What outlets are available to find o…
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May 6, 2021
Managing Your Hygiene Department
In a dental practice, the hygiene department is one of the most important teams in your practice, and dentists must understand how to utilize this team in the best way possible.
Karen Davis, Owner of Cutting Edge Concepts, joins the Edwards and Associations team in this episode of Beyond Bitewings to discuss what dentists should know about hiring, managing, leading, and utilizing their dental hygienists.
In this episode, they discuss why the dental hygienist team is often underutilized, and why dental practices are often missing the mark on one of the largest problems regarding our health, periodontal disease. Teams must understand the dental practice’s approach to the diagnosis of periodontal disease treatment. Plus they all need to be on the same page when working with patients.
Other topics that are discussed are when to know the right time to bring in a hygienist and a hygiene coordinator, and where are some of the best places to find the right talent. They also discuss why le…
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Apr 22, 2021
Frequently Asked Questions
The Edwards and Associates team is back answering some of your most pressing questions. They’re kicking this episode off with one of the biggest questions they get about car buying and some of the biggest misconceptions when using your car as a tax deduction.
Also discussed in this episode is why putting your kids on your payroll could be beneficial and what you need to do to avoid raising any red flags.
Plus they cover what dentists should understand about buying multiple practices, like what you should know when proceeding with starting the second practice, why utilizing the same bank for all of your locations could be a very wise move, and why dreaming of someday owning 10 practices might not be what you really want (even though you think it is). They offer some great advice based on what they’ve seen their clients struggle with when taking on this pretty difficult goal.
Another topic covered is business personal property tax, these aren't just random letters that come in…
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Apr 8, 2021
Dental Practice Transitions
Should you start a dental practice from scratch or buy one with existing patients, and more importantly, existing cash flow? It’s the main question that new dentists ask, and one that should be considered heavily before jumping in.
There are many things to consider when it comes to dental practice transitions, and the team from Edwards & Associates is discussing some of the important things you need to look for when considering either buying a dental practice or starting a dental practice from scratch.
The good news is that the failure rate for dental offices is very low, so either decision can be a good one, and lenders usually look favorably upon someone needing money for a dental practice.
In this podcast, the team weighs the pros and cons of each, and what the important factors are when deciding to purchase vs. startup. They discuss what you should consider when building a practice from scratch. Plus they talk about what you should be considering when purchasing a practice…
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Mar 25, 2021
When to Hire Additional Providers
When is a good time to start adding providers to your dental practice? Trying to time when to add a hygienist or an associate doctor can be overwhelming--hoping you have enough patients but not waiting until it’s too late.
This is one of the biggest questions the team at Edwards & Associates are asked by their clients, and one they’re answering in today’s podcast.
As companies are looking ahead to a post-pandemic world, they’re trying to figure out the best time to bring new providers on board. But there are many questions to answer when hiring a hygienist, an associate doctor, or any other staff.
In this episode, Edwards & Associates discusses: How to know when it’s time to bring in an associate or hygienist. With hygienists in short supply, is there a day of the week that’s better if you can only hire one part-time? How much can you expect a hygienist to help you produce? Should you hire your new team member as an employee or contractor? And, what happens if yo…
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Mar 11, 2021
Employee Retention Credit
CARES Act, PPP Loans, Employee Retention Credit, understanding the rules between these relief programs and offerings can be an overwhelming task. Making things more difficult are the constantly changing rules.
In this episode of Beyond Bitewings, the Edwards & Associates team brings some clarity to the Employee Retention Credit changes. They discuss what the changes mean for those who may have missed out on the original application and what you may be able to qualify for because of the new updates.
They dive deep into understanding what type of companies may want to re-visit applying for the Employee Retention Credit and also break down some of the specific qualifications.
Most business owners will find analyzing their situation and applying too overwhelming to do on their own, so make sure you consult with your CPA to help navigate these changes and determine what’s best for your situation.
Have a question? Contact Edwards & Associates to get your question answered and possibly…
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Feb 25, 2021
How To Lead A Team
Buying a dental practice does not automatically make you a great leader. Many dental practice owners find themselves in a predicament where not only do they need to learn how to build a practice, but more importantly, they need to learn how to lead their team to see that practice thrive.
In this episode of Beyond Bitewings, the Edwards & Associates team welcomes Dr. Sharon Tiger, a nationally known practice management consultant and business coach to dentists.
Dr. Tiger discusses what dentists need to learn to become great leaders, important factors to understanding leadership in dentistry, and why you shouldn’t be worried if you’re not a natural-born leader.
She also discusses why creating great job descriptions can help you build a more effective team, how you can create a culture within your dental team, why setting goals is so important to any practice, plus how you can learn to communicate better with your team, simply by practicing and making it a habit.
If you would…
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Feb 11, 2021
Preparing For The Next Pandemic
We would probably all prefer to forget about 2020! But as hard as it was, it taught us that you can never be too prepared for the unexpected.
In this episode of Beyond Bitewings, the Edwards & Associates team discusses what dental practice owners can do to prepare themselves for the next catastrophe. The next significant event may not be a pandemic. It could be something much more local, like a flood. No matter how large or small, it’s important that you have the resources and capabilities to handle it.
How much cash should you have on hand? Are there opportunities to cut costs, and how aggressive should you be with those cuts? What are other areas you should analyze when trying to plan for a significant event? These are just some of the questions answered in this podcast.
Have a question? Contact Edwards & Associates to get your question answered and possibly featured in a future podcast, info@eandassociates.com or 972-267-9191. Or contact any excellent ADCPA affiliate across…
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Jan 28, 2021
How To Hire the Right Dental Staff
Hiring can be a challenging event for any dental office, and it may sometimes feel like a hit or a miss when it comes to finding the right staff. However, it doesn’t have to be such a burden or a guessing game.
In this episode of Beyond Bitewings, the Edwards & Associates team welcomes Linda Allen, a Management Consultant for dental practices across the nation. Linda focuses on helping dental offices hire the right dental staff and guides them in creating atmospheres and opportunities to help keep those valuable team members onboard.
Linda discusses the current challenges with staffing for dental offices in addition to specific issues that have arisen because of COVID. She also talks about what to look for in potential staff members to make the absolute best hire.
This episode features discussion on topics like developing great interview questions, the importance of a working interview, understanding how to lead a team, plus so much more. If you’re looking for ways to hire s…
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Jan 18, 2021
Understanding the New PPP Rules
Almost one year ago PPP was an acronym no one knew, and now it’s a source of everyday conversation. As 2021 offers hope for a new year, it also offers some new PPP rules for PPP loan forgiveness, payback, and a new opportunity to receive more help for businesses that suffered from losses in 2020.
In this episode of Beyond Bitewings the Edward & Associates Team breaks down what dental business owners need to understand about the new rules, the new programs, how to know what’s available for them, and how to move forward with the new applications in addition to the PPP Loan Forgiveness Applications.
Before you try to get forgiveness from last year’s PPP loan or attempt to apply for new money in 2021, make sure you listen to this episode.
Have a question for Edwards & Associates? E-mail or call them to get your question answered and possibly featured in a future podcast, info@eandassociates.com or 972-267-9191, or contact any of our affiliates from the ADCPA at ADCPA.org.
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Jan 14, 2021
Current Lending Environment
The thought of loans can cause a lot of stress, especially when building and growing your dental practice. What’s the best loan? Has the lending process changed considering the pandemic? And are banks making it harder to obtain dental practice loans?
These are just some of the questions the team at Edwards & Associates answer in this episode of Beyond Bitewings.
They discuss the questions lenders ask when trying to obtain dental loans in a world after the shutdown.
Plus they cover basic questions like should you get a home loan first or a business loan first and other topics that could save you thousands on your taxes like simply knowing who to list as the borrower on the business loan.
Before you take out a new loan or pay off any existing loans, be sure to listen to this podcast.
Want to talk to someone at Edwards & Associates? Just email us at info@eandassociates.com. We would love to hear from you!
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Dec 31, 2020
PPO Reimbursement Rates
Insurance can be a necessary evil in the world of dentistry, and if dentists are doing their own negotiating of reimbursement rates, they could end up overpaying as much as 20 - 25 % for PPO programs.
In this episode of Beyond Bite Wings, the Edwards & Associates team welcomes Shelley DeGroff of PPO Advisors. Shelley, having over a decade of experience in the dental industry, knows the ins and outs of working with insurance companies to get the best rates for dental offices.
They discuss many frequently asked questions such as when is the right time to bring in someone like Shelley to look at PPO contracts. How does a specialist like Shelley help with PPO negotiations? And what kind of savings can they expect? Plus, how has COVID changed the way dentists are looking at both taking on and dropping insurance?
To get in touch with Shelley, you can visit the PPO Advisors Facebook Page https://www.facebook.com/PPOAdvisorsLLC
Their website
https://ppoadvisors.com/
Or you can email Sh…
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Dec 17, 2020
Lease Negotiations
When it comes to leasing dental offices, many dental office owners will seek help when negotiating their initial lease but fail to put in the same amount of effort when it comes to renegotiating their lease renewal. This can be a big mistake.
In this episode of Beyond Bitewings, the team at Edwards & Associates talks to Evan Reynolds of Dental Space Advisors who helps answer some of the biggest questions dental business owners have.
They discuss how to negotiate a lease renewal for a business, and the important factors that need to be considered when you’re working with your landlord. Plus they talk about why bringing in someone like Evan can be so crucial in helping you work out the right terms.
They also talk about the pandemic, and what it means for negotiating a dental office lease, whether it’s new or renewing. Can free rent be considered? You’ll need to listen to find out!
Would you like to connect with Evan and his team? Visit: DentalSpaceAdvisors.com Or MedicalSpace…
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Dec 3, 2020
Marketing Your Dental Practice
Marketing can be an overwhelming task within a dental practice. Understanding where to best spend your marketing dollars and how to measure results is crucial for the success of your practice.
Eric Hubbard and Andre Santos of Pain Free Dental Marketing join the Edwards & Associates team to talk about some of the biggest marketing questions and struggles dental practice owners have.
In this episode you’ll hear why content is king, why you should treat your practice’s social media different from your personal accounts, and why understanding your demographic is crucial to attracting new patients to your dental office.
You’ll also hear the answer to the two biggest questions. How much should spend on a marketing plan, and what kind of timeline can you expect to see results?
If you’re looking to get the most out of marketing your dental practice, then this is a can’t miss episode.
We are happy to help answer any specific questions you may have. Please feel free to email us…
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Nov 19, 2020
2020 Tax Planning
It’s hard to imagine, but 2020 is already almost over, which means it’s time to start making sure your dental practice tax planning is tied up for 2020.
Many dental offices are finding themselves with more cash in the books, and they’re wondering
what they should do with it. Plus, everyone is trying to understand the guidelines for the loans, grants, and unemployment paid during the shutdown. Some of rules around these will not change (i.e. unemployment), and some of the policies are evolving and changing daily.
In this episode, the team from Edwards & Associates discuss where the current guidelines stand when it comes to tax planning and what you need to know as you figure out how to best spend and save your money for 2021.
The team discusses the tax implications from PPP loans and what will be forgiven, other loans, HHS grants, unemployment, and loan distributions from retirement accounts.
They also discuss a few things that you can do right now to get yourself set up for…
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Nov 19, 2020
COVID Update
As we wrap up 2020, many dentists are wondering how they can optimize the money they received through various grants and loans because of COVID. In this episode of Beyond Bitewings, the Edwards & Associates team discusses the loan forgiveness status and strategies for making sure you’re best prepared for whatever may come in 2021.
There are a lot of questions about PPP loan forgiveness, and the team covers everything you need to know about the timelines for rules for applying for forgiveness of the loan, how and when you needed to spend the money you received, and why the rules of forgiveness aren’t quite yet 100% clear.
The team also discusses the EIDL payment payback. EIDL stands for the Economic Injury Disaster Loan, and why paying back this loan right away might not be the best decision as we enter 2021.
The third thing they discuss is the HHS stimulus payment and what you need to know when it comes to paying this back in addition to preparing your taxes for 2020.
We under…
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Nov 13, 2020
Introduction to Beyond Bitewings
In this episode, the team at Edwards and Associates discusses why Beyond Bitewings was created and what you can expect in upcoming episodes.
We know running a dental office isn’t easy. In fact, dentists are taught to be great at their craft, but they’re not taught about the business of dentistry. This podcast aims to help educate dentists on business matters, ideas on how they can run their business more efficiently, and to inform about general issues and current events.
Plus, you’ll be on the inside track of how the firm works together to discuss and brainstorm common scenarios brought up by clients and the best way to tackle those and create dental business solutions.
We hope you’ll join us every other week for a new episode, as we’ll have a combination of guest episodes and episodes with our team.
We would also love to hear from you and answer any specific questions you may have. Please feel free to email us at info {at} eandassociates.com any time, and we may ev…
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