The Dear Doc Podcast™

Dr. Vega talks about the following in this interview.

The most important thing to know about associates, moving forward, is that their needs are secondary to the needs of the business.

Associates have to understand how the owner sees them and what their role is within the business.

Associates face massive levels of risk, even though it’s seldom acknowledged when compared to an owner’s risk, and they must learn how to reduce their exposure to that risk moving forward.

All associate-ships are great… until they aren’t. Be prepared.

Dr. Arun K Garg is a nationally recognized dental educator and surgeon who for over 20 years, served as a full-time professor of surgery in the division of oral and maxillofacial surgery and as director of residency training at the University of Miami Leonard M. Miller school of medicine.

Dr Matthew B Roberts currently serves as the Chair of the Council on legislative and regulatory affairs for the Texas Dental Association. In this Episode, Doc interviews Dr. Matt Roberts, Long time TDA member and Advocate for Texas Dentists. They cover a variety of topics including current responses to the Covid 19 Crisis by the Texas Dental Board and TDA. They also get into details about the working relationship and duties of the TDA, TSBDE and the State Government.

How to conserve cash and protect practice profitability during the downturn

• Landlords

• Lenders

• Personnel

• Negotiating contracts

• Righting the wrongs in the practice

• Planning for the recovery

• Strategic thinking, being opportunistic, and executing a plan

Topics Covered Today: Historical context of this issue The Cares Act in total The PPP program How to use it How to apply How does it work with other programs The EIDL program (same categories as above) Strategic options during this time What are banks doingWhat are PE groups doingWhat can be done during this timeWhat is EBITDA really and how will my practices value be affected by the current economy.

BioAfter receiving his bachelor’s degree in Entrepreneurship and Professional Sales from Baylor University, Kyle completed the MBA program at the University of Colorado with specialties in Finance and Strategy. Kyle has worked in the dental and medical field since 2005 consulting for practices, medical device companies, and groups of practitioners. He has used this knowledge to consult over 50 start-up companies and dental practices, as well as help build well over 100 dental and medical practices across the country. He has owned all or part of 24 practices and has been an investor in multiple DSO concepts. Kyle created Professional Transition Strategies (formerly Headwaters Practice Consultants) to facilitate the sale of over 350 dental practices as a buyer’s representative, seller’s representative, or as a transaction broker. His M&A work has resulted in over $200M in total deal flow. His specialty is offering unique options to sellers allowing them to explore individual, group, and private equity investments to achieve the transition goals of his clients. Many times this results in much larger gains for the sellers he works with by putting the buyers in competitive situations. He and his family live in Colorado Springs where he enjoys golfing, skiing, and hunting as often as he can.

Dr. Ryan Dunlop on The Comprehensive Surgical Center Business Model. Doc interviews Dr. Dunlop about his journey in dentistry, The trials of practice ownership and the unique aspects of running a comprehensive surgical and teaching center with in house lab.

Episode 23 William Blatchford discusses Traits that Dental Offices Must Possess to Weather this Economic Crisis.

https://blatchford.com/

Dr. Hoffpauir talks to Bruce Baird about growing a practice during difficult financial times.

Forms Needed to File for EIDL. Form 5, 4506, 2202, 413D. All must be filled out and uploaded. Download All Here: https://www.sba.gov/disaster/apply-for-disaster-loan/index.html

Eric Miller has been in the financial planning industry for over 20 years.

He is Co-Owner of Econologics Financial Advisors and Chief Financial Advisor.

He has a degree from Capital University and is an Registered Financial Consultant® (RFC) and Licensed Insurance Agent

He has managed over 480 Practice Owner Clients in various fields of healthcare

As the Chief Financial Advisor for the firm, Eric has had the good fortune to have had over 10,000 financial conversations with private practice owners and helped guide them into a more optimum financial condition using our proven system.

Econologics Financial Advisors is an Inc. 5000 honoree for 2019 as one of the fastest growing companies in the US.