In this episode of the Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at Practice CFO, and Dr. Howard Farran, Founder of Dentaltown, delve into the evolving landscape of dental ownership from the rise of private equity in dentistry to the challenges and opportunities facing today’s practitioners.

They explore how cheap financing and investor enthusiasm fueled massive consolidation in the dental space over the past decade, and why the focus is now shifting from quantity to quality. As interest rates rise and capital tightens, DSOs and private equity groups are becoming more selective, prioritizing well-run, profitable practices over sheer scale.

The discussion also contrasts private equity-led DSOs with those founded and guided by dentists, examining how leadership, culture, and long-term vision shape patient outcomes and professional integrity.

Dr. Farran passionately defends the importance of dentist-led organizations, transparency, and long-term patient relationships, emphasizing that dentistry is a “sacred profession,” not just a business. Wes complements this view with a grounded financial perspective, offering practical advice for dentists who aspire to grow sustainably, without losing their clinical focus or personal balance.

• The PE Boom and Shift: Low interest rates and abundant capital fueled a buying frenzy in dental practices, but the landscape is changing with higher borrowing costs.
• From Volume to Value: DSOs are now focused on high-quality operations and sustainable cash flow rather than mass acquisitions.
• Dentist-Led vs. Investor-Led DSOs: Dr. Farran stresses that DSOs led by clinicians, not “suits,” create better care models and stronger trust with patients.
• Operational Mastery First: Before expanding, dentists should perfect one successful “prototype” practice much like McDonald’s perfected its first store before scaling.
• Liquidity and Transparency Matter: Private equity’s lack of transparency and illiquidity pose risks; publicly traded or dentist-owned models offer more accountability.
• AI and Dentistry: Both see promise and potential pitfalls as AI expands into diagnostics and insurance, cautioning that technology can empower or restrict clinicians depending on who controls it.

In this episode of the Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at Practice CFO, sits down with Howard Farran, founder of Dentaltown and one of the most influential thought leaders in the dental industry. Together, they explore the evolution of dentistry from emerging AI technology to the rise of DSOs, the challenges new grads face, and the skills needed to thrive in today’s rapidly shifting landscape. This episode delivers raw insights, bold perspectives, and practical lessons for dentists at every stage of their careers.

• AI is transforming dentistry at historic speed—comparable to the rise of the internet.
• Dentaltown is building AI tools to unlock insights from 10+ million dental conversations.
• AI won’t replace dentists but dentists who adopt AI will replace those who don’t.
• Example: Robotics like Yomi are enhancing implant surgery, not eliminating the surgeon.

The Real DSO Landscape

• Not all DSOs are massive corporate chains.
• The real competition for private practices? Local 4–9 location DSOs scaling smartly across small regions.
• These local groups win by leveraging:
• Shared marketing
• Centralized operations
• Better purchasing power
• Structured systems

• Student debt is real, but so are lifestyle choices that amplify it.
• Early career focus should be:
• Clinical reps and speed
• Learning practice systems
• Strong mentorship
• The best first job is one that teaches:
• Business operations
• Full-scope clinical care
• Patient flow and case acceptance

• Patients choose loyalty, trust, and relationships.
• Private practices win when they deliver:
• Consistency in care
• Stable teams
• Real human connection
• High staff and doctor turnover in corporate settings creates opportunities for private offices to stand out.

• A general accountant isn’t enough in dentistry.
• Dentists need advisors who understand:
• PPO strategy
• Overhead benchmarks
• Practice-specific financial planning
• Growth vs. profitability
• Specialized financial guidance is a competitive advantage.
• 
  

• Half of patients don’t have dental insurance.
• Present multiple treatment paths:
• Basic → Mid-tier → Ideal care
• Never assume what a patient can or can’t afford—let them choose.

Who Should Listen?

✔ New dentists navigating debt and career choices

✔ Private practice owners competing with DSOs

✔ Clinicians curious about AI adoption

✔ Anyone wanting unfiltered industry truth

In this episode of the Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at Practice CFO, kicks off a new multi-episode series focused on the most common financial mistakes dentists make in both their personal and practice finances. After returning from an October break, Wes zeroes in on cash flow discipline, spending habits, tax inefficiencies, depreciation strategy, excess distributions, and the development of automated systems for long-term wealth.

Wes explains how many dentists struggle with lifestyle inflation, unmanaged owner draws, and treating the business account like personal cash, often without understanding tax basis limitations. He highlights the “depreciation trap,” where large Section 179 write-offs paired with financed equipment purchases create short-term tax relief but long-term cash crunches. He encourages dentists to align depreciation schedules with loan terms to avoid future financial strain.

• Automate savings and retirement contributions
• Match depreciation timelines with equipment loan terms
• Avoid treating the practice account as personal spending
• Monitor tax basis before taking distributions
• Maintain disciplined budgeting and lifestyle control
• Reinvest profits to strengthen practice efficiency and growth

In this episode of the Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at Practice CFO, and an AI co-host unpack the ADA Health Policy Institute’s Q3 2025 “State of the Dental Economy” report. The data paints a complex picture of a dental sector stuck in an uneasy holding pattern where rising costs, flat reimbursements, and persistent staffing shortages are squeezing practices nationwide.

Despite modest growth in consumer dental spending, many practices report being less busy than before, caught between financial pressure and patient affordability challenges. The discussion dives deep into the fiscal squeeze, workforce struggles (especially hygienists), and the strategic choices dental practices are making to adapt.

• Dentists’ confidence in their own practices (67.5%) remains higher than confidence in the U.S. economy (33.4%).
• Optimism has eroded throughout 2025 despite a slight Q3 bounce.
• Top concerns: tariffs, political unrest, and global uncertainty.

• Core problem: costs (supplies, labor, operations) are rising much faster than insurance reimbursements.
• Two-thirds (65.8%) of dentists raised fees in 2025 by an average of 6.7% just to maintain margins.
• This has worsened patient affordability and fueled a perception of dentistry as “discretionary,” reducing patient visits.

• Consumer dental spending is up 10% (inflation-adjusted) since pre-pandemic levels.
• Yet, the number of dentists reporting they’re “not busy enough” jumped from 25% to 35% in Q3 2025.
• Average patient wait times hit a three-year low (12 days), showing ample capacity and lower demand intensity.

• Hiring in dental practices remains flat, but recruitment demand is high.
• Hygienists are the most difficult position to fill; 90% of dentists report it’s very hard.
• Only 43% of those recruiting for hygienists successfully filled the role.
• One-fifth of hygienist positions remained open 6+ months, hurting production and patient flow.

• Many dentists are investing in software (41%) to improve efficiency and adding staff (47%) where possible.
• Some are dropping low-paying PPO plans to regain control over pricing and profitability.
• Practices are focusing on what they can control: internal efficiency, cost management, and workforce adaptation.

• The dental economy isn’t collapsing, but it’s not growing fast either.
• The balance between rising costs, stagnant reimbursement, and patient affordability remains fragile.
• The future may depend on technology adoption, workforce development, and new care delivery models to break the stagnation.

#DentalEconomy #DentalIndustryTrends #FiscalSqueeze #Dentistry2025 #DentalPracticeManagement #HygienistShortage #DentalCareCosts #ADAReport #WesRead #DentalBoardroomPodcast #DentalBusiness #DentistryInsights

In this episode of The Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at PracticeCFO, talks with Brandon Hobson (Chief Investment Officer) and Paul Lipcius (investment committee member) about what’s happening in the markets and why it matters for dentists.

They break down the recent Federal Reserve rate cut, explain how bond yields signal what might happen next in the economy, and discuss what the steepening yield curve could mean for growth and inflation. The team also looks at today’s stock market, where high valuations and a heavy focus on just a few big tech companies may bring new risks.

Plus, they explore why international stocks are starting to outperform and how adding global exposure could strengthen your portfolio.

Whether you’re saving for retirement or planning your practice’s financial future, this episode gives you practical insights to help guide smart, long-term investment decisions.

Key topics include:

• What the Fed’s latest rate cut means for bond yields and future inflation
• Why the yield curve’s steepening could signal improving economic conditions
• The risks of sky-high U.S. stock valuations and concentrated index exposure
• How international and emerging markets are reshaping the global investment landscape
• Long-term investing principles every dentist should follow

In this episode of the Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at Practice CFO, continues the discussion on putting your kids on payroll as a smart tax and wealth-building strategy. This time, he dives deeper into how to maximize the benefits by pairing payroll with 529 education savings accounts and Roth IRAs.

Shifting income for tax savings:

• Move income from a higher parent tax bracket to your child’s 0% bracket (standard deduction in 2025 is $15,750).
• Saves roughly $3,000–$4,000 per child per year. Over many years, that adds up significantly.

Practical execution:

• Children can start as early as age 6–7 and continue through college years.
• Create job descriptions and light documentation (e.g., photos, office work, modeling fees) to substantiate employment.
• Use a modern payroll service (Wes recommends Rippling) to simplify compliance.

How to use the payroll funds:

• Deposit paychecks into the parent’s checking account (simpler than setting up child accounts).

Direct those funds toward:

• A custodial Roth IRA (tax-free growth).
• A 529 education savings account (tax-free growth + tax-free qualified withdrawals).

529 Education Plans explained:

• State-administered plans with varying benefits Utah’s “My529” (Vanguard, low-cost index funds) is Wes’ favorite.

Benefits:

• Tax-free growth and withdrawals for education.
• Potential state tax deductions in some states.
• High contribution limits.
• Parent-owned accounts are more favorable for financial aid and offer flexibility to transfer funds among siblings.
• Can cover not just college, but also K–12, trade schools, apprenticeships, and up to $10K in student loan repayment.

Suggested split strategy:

• After payroll and FICA taxes, about $14K remains per child.
• Example: Fund $7K to a Roth IRA + $7K to a 529 plan, balancing retirement savings with education funding.

Risk & compliance notes:

• Wes has never seen an IRS audit on this strategy in 17+ years, but stresses proper documentation.
• Pay a fair wage aligned with actual work performed.
• Always consult your CPA if unsure.

Big picture:

• This is more than just tax savings it’s wealth building.
• Combining small strategies like payroll, home office, auto deductions, and retirement plans can collectively cut taxes by 30–60% (or more) and accelerate financial independence.

By intentionally leveraging tax rules, you can redirect money that would have gone to the IRS into your kids’ education, retirement, or family wealth. Over time, these small wins compound into major financial independence.

In this episode of the Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at Practice CFO, dives into one of the most powerful  yet often overlooked  tax and wealth-building strategies for dentists: putting your kids on payroll and using that earned income to fund retirement and education accounts.

Wes explains how hiring your children in your dental practice (for real, legitimate work) creates not only a tax deduction for the practice but also a springboard for long-term wealth accumulation in the child’s name. He emphasizes the Roth IRA as a uniquely flexible and tax-free account, often a better choice than a 529 education account, since the funds can be used for retirement, education, or other qualified purposes.

He walks through how to handle payroll logistics, funding contributions annually to simplify administration, and how compounding growth turns even modest contributions into hundreds of thousands  or even millions  over a lifetime. Along the way, Wes shares investment allocation strategies, including why volatile, high-growth assets fit well in Roth IRAs and how “tax location” across different account types can meaningfully boost after-tax returns.

The episode also compares Roth IRAs with 529 plans, outlining when each makes sense, and highlights the importance of aligning education funding with family philosophy  whether parents fully cover tuition, split costs, or expect children to pay their own way.

This is part one of a two-part series on the Kids on Payroll strategy, with part two focusing more deeply on 529 plans.

Key Points

• Paying your kids from the practice creates a deductible expense and earned income for them.
• A Roth IRA for children offers unmatched tax-free growth and flexibility versus 529 accounts.
• Funding once a year avoids payroll admin headaches while still capturing the benefit.
• Compounding can turn $7,000 annual contributions into millions over decades.
• High-growth, volatile assets fit best in Roth accounts due to their tax-free nature.
• Tax location (placing the right investments in the right accounts) is a major driver of long-term wealth.
• Family philosophy matters  whether parents fully fund education or expect kids to share the cost.

Hashtags

#DentalBoardroomPodcast #DentalFinance #KidsOnPayroll #RothIRAForKids #DentalPracticeOwners #TaxStrategy #FinancialPlanning #PracticeCFO #WesReadCPA #WealthBuilding

In this episode of the Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at Practice CFO, welcomes attorney Justin Morgan, JD, MBA, founder of Morgan Advisory Group, to share real-life “war stories” from dental practice transitions. Together, they unpack legal and financial pitfalls dentists should avoid—and opportunities that can change the trajectory of a career.

From hidden Botox expenses in med spas to phantom patient credits wiped off the books, and even a “Bitcoin blowout” practice fire sale, Wes and Justin reveal how careful due diligence, smart deal structures, and the right advisory team can protect buyers while uncovering hidden value.

Key discussions include:

• Why every practice transition carries risk—and how buyers should assess it.
• How undisclosed irregularities in expenses can lead to litigation.
• The importance of understanding accounts receivable (AR) vs. patient credits, and how mismanagement can derail a deal.
• The critical role of financial reports like aging AR in evaluating practice health.
• A shocking story of a dentist who used EIDL COVID relief loans for Bitcoin investments, lost it all, and was forced to sell at a massive discount.
• Why partnering with skilled advisors—legal, financial, and operational—is the best way to safeguard your investment.

Justin also explains the legal frameworks behind dental transitions, including asset sales, goodwill valuation, and common structures for financing deals. Wes brings a financial lens, connecting these stories to practical lessons every dentist-owner should apply before buying, selling, or expanding a practice.

This episode is packed with cautionary tales, legal insights, and practical takeaways to help dentists think like business owners and avoid costly mistakes.

Key Points

• Every practice transition carries risk—smart buyers weigh risks against upside potential.
• Hidden expenses, irregularities, or non-disclosures can result in litigation.
• Accounts receivable (AR) and patient credits must be carefully reviewed before closing a deal.
• Proper due diligence includes analyzing aging AR reports and patient credit balances.
• Practices sold below market value may offer high upside but come with added risk.
• Misuse of EIDL loans highlights how financial mismanagement can create rare buying opportunities.
• Buyers need a strong team: legal, financial, and operational advisors.
• Asset sales focus on goodwill, not stock or tax IDs—key for understanding practice valuation.

In this episode of the Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at Practice CFO, continues the miniseries on the relationship between money and happiness and what it really means for dental practice owners.

Wes begins by revisiting key lessons from earlier episodes: money can reduce stress up to a point, but beyond a certain level of income, happiness plateaus. True financial peace of mind comes from building reserves, delegating financial complexity, and resisting lifestyle inflation. He also reflects on insights from The Millionaire Next Door, where frugality, discipline, independence, and intentional spending separate wealthy professionals from those who simply earn more but save less.

The focus of this episode is on Happy Money: The Science of Happier Spending by Elizabeth Dunn and Michael Norton, a landmark study that shows happiness is not about how much you earn, but how you spend. Wes outlines five core principles:

• Buy experiences, not things. Lasting joy comes from memories, not possessions.
• Make it a treat. Scarcity increases appreciation.
• Buy time. Use money to outsource tasks and free yourself for what matters most.
• Pay now, consume later. Avoid the stress of debt-fueled purchases.
• Invest in others. Generosity directly boosts well-being.

Wes then applies these lessons directly to dentists. He encourages owners to use money to create margin, not busyness, and to invest in their teams even if it means paying above market for A-players who transform culture and patient experience. He shares personal reflections on choosing experiences over possessions, from family vacations in Europe to carefully planning how his time is spent.

Quoting John Bogle’s Enough, Wes emphasizes the importance of defining what is truly enough” and aligning spending with values. Budgeting, he explains, isn’t about restriction, it's about directing resources toward what genuinely creates fulfillment.

He closes with an equation: Real goal = Freedom of choice + Peace of mind. By avoiding marginal thinking, making intentional financial decisions, and nurturing relationships above all, practice owners can use money not just to build wealth, but to create a more fulfilling and happier life.

Key Points

• Happiness from money comes from how you spend, not just how much you make.
• Buy experiences, not things; scarcity makes luxuries more meaningful.
• Use money to buy time and reduce stress.
• Pay now, consume later to avoid financial anxiety.
• Invest in others generosity builds well-being.
• Align spending with your values to define “enough.”
• Budgeting is about purpose, not restriction.
• True wealth equals freedom of choice plus peace of mind.
• Strong relationships remain the #1 driver of lasting happiness.

Hashtags

#DentalBoardroomPodcast #DentalFinance #HappyMoney #DentistLife #FinancialFreedom #WealthMindset #PracticeCFO #WesReadCPA #MoneyAndHappiness #DentalPracticeOwners

In this episode of the Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at Practice CFO, explores the mindset shifts and habits that separate high-income dentists who struggle financially from those who build lasting wealth and freedom.

Wes begins by revisiting the connection between money and happiness. He explains that while money can reduce stress, it does not automatically create fulfillment. How you use your money matters more than how much you earn. Many dentists experience stress from debt, high overhead, and lifestyle creep, which erodes both financial stability and mental wellbeing.

He encourages building strong financial hygiene early: creating personal and business cash reserves, delegating financial complexity to trusted professionals, and resisting the urge to overspend. True wealth, he explains, is measured not by income but by freedom of time and choice, the ability to live without needing to work.

Drawing from the book The Millionaire Next Door by Thomas J. Stanley and William D. Danko, Wes outlines four defining traits of mass affluent millionaires:

• Frugality — live below their means, avoid lifestyle inflation
• Discipline — save and invest consistently, use debt strategically
• Independence — value time freedom over showing status
• Stealth wealth — quietly build net worth without outward display

He warns that many dentists earn high incomes but remain asset-poor because they focus on appearances rather than net worth. Instead, he urges owners to maintain a personal balance sheet, grow appreciating assets, minimize liabilities, and track progress toward financial freedom.

This episode reframes wealth not as a number, but as a mindset and discipline choosing simplicity, consistency, and intentional spending so that money supports your life rather than controls it.

• Money reduces stress only when used intentionally, not emotionally.
• Build reserves, delegate complexity, and live simply to lower financial anxiety.
• True wealth is time and choice freedom, not just high income.
• Millionaires tend to be frugal, disciplined, independent, and understated.
• Track net worth, not income, to measure real progress.
• Avoid lifestyle creep; prioritize saving, investing, and debt discipline.
• Focus on long-term security instead of short-term appearances.