Beyond Bitewings

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 agents
• Avoiding conflicts of interest in transactions
• Timing for lease renewals and relocations
• Common mistakes in commercial real estate
• Lease abstraction services
• Vendor partnerships and additional support
• Cost benefits of using professional real estate agents
• Support for DSOs and larger healthcare groups

Ash welcomes Jessica Jones, CEO and founder of Build Your Cash Medical Practice. to discuss various strategies for building stronger relationships with clients and optimizing business operations. Jessica shares insights from her extensive background, including her experience in marketing and managing medical practices. The conversation addresses the importance of remembering personal details about clients, understanding staff strengths, and implementing effective incentive programs to boost staff engagement and retention.

Jessica also touches on the challenges of transitioning to cash-based services and navigating the complexities of financial management. They discuss the need for clarity, simplicity, and vigilance to avoid financial malpractice. They also talk about marketing strategies and the importance of patient experience, offering practical tips on how to allocate funds for marketing and the significance of personalized care.

To learn more and connect with Jessica, visit: https://buildyourcashmedicalpractice.com/

If you have specific questions about embezzlement or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team. (https://www.EandAssociates.com)

Key Topics Discussed:

• Importance of client relationships
• Staff engagement and incentive programs
• Transitioning to cash-based services
• Financial management and risk prevention
• Marketing strategies and ROI
• Delegation and time management
• Adapting to external business factors

In this episode of Beyond Bitewings, Ash welcomes Beth Lachance, CEO of Global Medical Virtual Assistants and shares the journey of her company and how virtual assistants can become a critical component for managing administrative work in dental and medical practices. She recounts how her medical background and a chance involvement in virtual assistance for the real estate sector led her to realize the vast potential for similar services in healthcare. Beth outlines various roles that virtual assistants can occupy, from handling front desk duties to managing complex administrative tasks like insurance verifications and revenue cycles.

Ash and Beth discuss the challenges faced by dental practitioners, especially those juggling clinical and administrative responsibilities. They also discuss the cost-effectiveness and efficiency of virtual assistants, especially as practices contend with fluctuating staffing needs in the post-COVID era. Beth also breaks down the financial advantages, explaining how their services are a fraction of the cost compared to traditional staff.

To learn more, visit: https://globalmedicalva.ph/

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:

Administrative roles for virtual assistants

Challenges of managing a dental practice

HR and workforce management post-COVID

Cost-effectiveness of virtual assistance

Proven success of virtual staffing solutions

Detailed cost comparison and savings

Enhancing existing staff and practice management

In this episode of Beyond Bitewings, Ash and Lynn welcome Paul Edwards to discuss the complexities of the recent ruling concerning exempt employees. They talk about the court decision that allows for a salary raise effective July 1st. The discussion explores strategies for managing salary adjustments, particularly the implications of shifting employees from exempt to nonexempt status and the importance of transparent communication during such transitions.

The conversation also touches on broader HR advice, emphasizing the crucial role of consulting experts in navigating employee classifications accurately. They also discuss the need to manage overtime carefully and the strategic importance of proper employee classification to meet both compliance and business needs. Paul shares insights on the upcoming raise in minimum salary requirements and the varied regional impacts of these changes on businesses. Lynn highlights the need for small business owners to seek professional HR guidance while also recommending additional resources for staying informed and compliant.

To connect with Paul and listen to his podcast, visit: https://www.cedrsolutions.com/hr-podcast/

If you have specific questions about embezzlement or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team. (https://www.EandAssociates.com)

Key Topics Discussed:

• Court ruling on salary raise
• Challenges of salary adjustment retraction
• Employee status change from exempt to nonexempt
• Importance of transparent communication
• Managing overtime for nonexempt employees
• Evaluating exempt status
• Impact of minimum salary increases
• HR advice for small businesses
• Employee classification and payroll considerations
• Resources for additional HR guidance

The conversation continues as we jump into part 3 of this 3 part series discussing some of the biggest issues dentists are facing, and what you can do about them.

The conversation kicks off with a deep dive into the mental well-being of dentists and the pervasive issue of burnout. Erin shares her views on hustle culture, emphasizing the importance of intentional rest and a balanced approach to work and personal life. Both highlight the necessity of efficient time management and implementing systems for a more streamlined workflow.

The discussion also explores the transformative role of AI in dentistry, from streamlining patient relationships to aiding in diagnosis and treatment planning. Ash and Erin talk about the rapid advancements in AI technology. The episode wraps up by addressing practical business concerns such as patient no-shows, adapting to new dental technologies, and securing patient data against cyber threats. The importance of having a reliable support staff and strategic marketing efforts to retain patients is also discussed, providing listeners with actionable insights to implement in their practices.

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:

• Mental well-being and burnout in dentistry
• Hustle culture and work-life balance
• Efficient time management techniques
• AI advancements and their impact on dentistry
• Technologies like 3D printing, digital impressions, and laser dentistry
• Intraoral cameras for better diagnosis and treatment planning
• Managing last-minute patient cancellations
• Navigating insurance plans and reimbursement rates
• Importance of support staff and marketing efforts

In this episode of Beyond Bitewings Ash and Erin continue their discussion on some of the biggest challenges dentists face today. Picking up from where they left off, Ash and Erin discuss how independent dental practice owners can compete with corporate dental organizations (DSOs) and private equity firms. The conversation shifts to the importance of focusing on the qualitative aspects of business, such as relationship dentistry, job satisfaction, and patient care, which can give smaller practices an edge over DSOs that are driven by numbers.

The episode also discusses the growing demand for cosmetic procedures and the need for dental practices to adapt to these trends. Ash shares insights on how incorporating new technologies and equipment can not only keep practices up-to-date but also make them more cost-effective. Finally, they discuss the crucial role of patient communication and engagement, highlighting the importance of continuous staff training and maintaining a user-friendly online presence for scheduling and other services.

If you have specific questions about embezzlement or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team. (https://www.EandAssociates.com)

Key Topics Discussed:

• Competing with Corporate Dental Organizations
• Importance of Qualitative Aspects in Dentistry
• Personal Touches in Patient Care
• Incentivizing and Engaging Staff
• Financial Metrics and Team Performance
• Shift from Routine Care to Cosmetic Procedures
• Influence of Social Media on Cosmetic Dentistry
• Statistics and Market Growth in the Dental Industry
• Adapting to Patient Needs and Trends
• Partnering with Distribution Vendors

Dentistry can be rewarding, but just like with any other business, it comes with some obstacles. So how do you overcome some of the biggest challenges?

This episode is part 1 of a 3-part discussion covering some of the biggest challenges dentists face. Ash is joined by Erin Gregor, and they talk about the importance of standing out by creating meaningful experiences in the workplace. Emphasizing personalized interactions and the idea that employees should feel integral to a larger mission, extending beyond mere job duties. They also talk about impactful strategies such as the use of incentives and bonuses to encourage staff, the role of personalized client interactions, and the increasing demand for cosmetic dentistry, including potential expansions into Botox treatments.

They also discuss creative hiring practices, such as targeting flexible-working mothers, utilizing job boards like Indeed and ZipRecruiter, and leveraging non-traditional recruitment avenues, including closed Facebook groups and local study clubs. The episode unpacks the pandemic’s effects on the dental world, including the significant hygienist shortages and the rising staffing costs. Ash and Erin also stress the importance of focusing on company culture, offering competitive benefit packages, and staying current with technological advancements. By understanding the evolving landscape, dental practices can better align with customer needs and maintain a competitive edge.

If you have specific questions about embezzlement or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Key Topics Discussed:

• Creating meaningful experiences at work
• Importance of personalized client interactions
• Incentives and bonuses for staff engagement
• Growth of cosmetic dentistry and potential for Botox
• Innovative hiring practices, including flexible work options
• Impact of the pandemic on dental staffing and rising costs
• Offering competitive benefits and compensation

Are you paying more than 2.2% for your payment processing fees? If the answer is yes, you may be losing a lot of money.

In this episode of Beyond Bitewings, Ash welcomes Jeremy Lessari, founder of Payment Brokers. Jeremy shares his entrepreneurial journey and how he negotiated his payment processing fees down after discovering companies kept raising rates.

After selling his last company, he decided to utilize AI technology and created Payment Brokers, a service that monitors payment processors' fees for small businesses. The company will notify businesses of increases, and also help to negotiate the lowest rates.

Jeremy and Ash also talk about why he became an entrepreneur and how so much changed once he found ways to make a difference vs. making money.

To connect with Jeremy, visit: PaymentBrokers.com

If you have specific questions about embezzlement or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

Do you believe embezzlement would never happen within your business? 

Well, unfortunately, the chances of it happening to you are actually a lot greater than you think. In fact, 75% of dental practice owners will experience embezzlement in their office before their career is over.

So what can you do to prevent embezzlement, and what are the signs that you should look for to see if this might be happening to you? The team at Edwards and Associates is joined by David Harris. David is a Certified Fraud Examiner and a Licensed Private Investigator, certified in Financial Forensics. He’s also the author of Dental Embezzlement: The Art of Theft and Science of Control. 

David discusses what every dental practice owner should understand about embezzlement and the two types of people who decide to take money from their employer.

He also discusses the signs you can look for, including behaviors, or things going on in someone’s life that may make them a prime candidate to embezzle. Plus he talks about what you should be looking at in your practice on a frequent basis to make it harder for someone to take money from you.

This is definitely something you shouldn’t be sitting on, thinking it’s not going to happen to you, and as your practice starts to grow, the greater chance you have of becoming a statistic. 

If you’re interested in learning more about David, visit: www.prosperiden.com or call: (888) 398-2327.

If you have specific questions about embezzlement or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

*In this episode of Beyond Bitewings, Robert and Ash talk numbers, but it’s the good numbers that are crucial to know in order to determine the health of your practice. They talk about the importance of basic financial knowledge and how it can help clients make better decisions. 

They touch on the differences in collection percentages based on location, and where you should fall with collections versus take home pay. They also cover marketing budgeting and how it should be based on target collections rather than current collections. 

Ash and Robert also discuss why consultants can offer a big return on  your investment by helping you see the blindspots in your practice. Plus they discuss rent percentages, and why you may not be able to stay within the national average based on where you live. Additionally, they discuss continuing education expenses, and what you can write off when it comes to travel. Finally, they explore the financial differences between pediatric practices, orthodontists, and general one-dentist practices.

If you have specific questions about any of these topics for your practice, or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team. Please also contact us to find out more about Ash’s financial course.

*Replay from 2023

Topics Discussed:

* Impact of consultants on dental practice efficiency

* Real-world example of improved collections

* Financial benchmarks for dentists

* Importance of managing team member expenses

* Marketing strategies for specific dentistry fields

* Educational resources for understanding the business side of dentistry