The Shared Practices Podcast - Archives

Please email me at [email protected] if you're planning on acquiring a practice in the next 2 years! I want to know where you are in the process, what questions you have and what you've learned already. Lets figure this out together.

We're wrapping up Season 1 of our podcast and we've decided to make a change: I've gotten a ton of emails from people wanting to know how to buy their first dental practice. Rather than waiting for Season 4 like we had planned, we're moving acquisitions up to Season 2. Season 2 will now be: Practice Acquisitions and Systemization. Today's episode will give you a preview of the acquisition process.

In this episode Jason Wood, Esq. gives us his perspective on:

• When to hire CPAs/consultants/brokers and how you'll know if they're any good (spoiler: it's not easy)
• Personal finance for practice acquisition including when banks will be more flexible with how much cash you have saved
• Why you might not want to buy a house before a practice and Jason offers to take the fall if you need to tell your spouse that you should rent
• The dangers of group disability policies & creative uses of whole life insurance
• A step by step outline for submitting an offer on a practice.

Also, why his firm Wood & Delgado doesn't charge to review associateship contracts for new grads. Hint: You'll have such a good experience that you'll end up hiring them later when it really counts.

Jason Wood is an attorney who is not afraid to tell dentists what he thinks and when they're about to make a decision they'll regret. He is known for his willingness to help and contribute on the Dentaltown.com forums (username jasonpatrickwood) and consistently delivers hard-earned perspective on transitions, acquisitions, partnership and startups. Check out some of his rave reviews from dentaltown users who have used his services:

Jason Wood Dental Attorney Review

Don't walk, RUN to the phone to call Jason Wood!!!

Jason Wood Shout out

Shout out to Jason Wood for self brokered help! Thanks

Contact Jason to discuss a potential deal or invite him to speak at an event:

[email protected](800) 499-1474 Wood & Delgado Dental Attorneys

What's the fastest way to pay off a quarter of a million in student loans? Take out some more debt and buy a practice. That's what Dr. James Heaton of Chandler, Arizona did. In this episode he shared his journey to ownership including partnerships, practice acquisitions and mergers.

You'll also hear about some of Dr. Heaton's favorite CE courses he took to meet the requirements for his FAGD and which courses he would recommend if he could do it all again.

Check out Dr. Heaton's practice at www.SmilesofChandler.com. He can be reached via his email at [email protected]

CE courses mentioned in the show:

Progressive Orthodontic Seminars

Midwest Implant Institute

Misch Implant Institute

Spear Education

Endodontics Unsponsored

Thanks again to our Sponsor, Q-Optics. To take advantage of our exclusive offer for $100 off a pair of loupes or $300 of a pair of loupes and light, use the promo code SP16 when ordering. Email [email protected] or call 1-800-858-2121 to learn more from a rep in your area.

Reese is the founder and CEO of Dentist Advisors, a registered investment advisory firm with an exclusive focus on dentists and specialists.

Since 2003, Reese has devoted his career to helping dentists plan, invest, and retire better. He is a financial planning thought-leader in the dental industry and a popular speaker at dental conventions, continuing education events, and dental districts across the country.

Reese is also the host of the Dentist Money Show: A weekly podcast dedicated to helping dentists make smart financial decisions. Dentists all over the country are using the Dentist Money Show to plan, invest and retire better.

In today's episode we talk about paying down student loans vs saving for a practice and maintaining liquidity. Does this decision change if the student loans carry a high interest rate? Listen as Reese shares some key insights into this crucial decision.

Listen to Dr. Howard Farran share his uncensored opinions on ownership, finding good associateships and how to learn without spending an arm and leg on CE.

Howard is the owner and founder of Dentaltown.com, a forum, magazine and media network for dentists. Recently he published the bestselling book, Uncomplicate Business, where he shares his years of experience in a straightforward, honest manner. His show is the Dentistry Uncensored podcast, which features daily interviews with dentists from around the world.

This is our first "Metasode," a compilation of clips from the best dental podcasts on one topic. In today's Metasode, we cover the topic of Ownership with clips from the Dental Hacks Podcast, Dentistry Uncensored and the Start Your Dental Practice Podcast.

Listen to the full episodes: Dental Hacks Podcast 44 Ready, Fire, Aim with Dr. Chris Salierno http://dentalhacks.com/ready-fire-aim-with-dr-chris-salierno-dhp44/

Start Your Dental Practice Ep. 25 Lessons from the The Dental Attorney That Tells You What You Need to Hear (Even if it`s not what you want to hear) with Jason Patrick Wood http://dentistmetrics.com/ep-25-lessons-from-the-the-dental-attorney-that-tells-you-what-you-need-to-hear-even-if-its-not-what-you-want-to-hear-with-jason-patrick-wood/

Dentistry Uncensored 247 Private Practice For New Dentists with J. Elliott and Jonny Brennan http://www.dentaltown.com/Dentaltown/Blogs.aspx?action=VIEWPOST&b=54&bp=3543

Dr. Tarun Agarwal tells new grads exactly where to practice, how to think like a business owner and lays out his personal plan for financial freedom.

Sign up for Dr. Tarun Agarwal's courses: http://3d-dentists.com

Hear both Dr. Agarwal and Dr. Low at the upcoming Voices of Dentistry summit Jan 27-28 in Nashville, TN https://voicesofdentistry.com

Dr. Tarun Agarwal represents the next generation of leadership for the dental profession. As a respected speaker, author and opinion leader, he is changing the way general dentists practice. His common sense approach to business, dedication to clinical excellence, integration of technology and down to earth demeanor has made him a recognized educator.

In this episode Dr. Tarun Agarwal (aka T-Bone) shares why he believes that his most important piece of digital equipment is a camera and calls out Dr. Low for not taking more pictures. T-Bone shares his favorite CE courses and advice for how to get the most out of associateships.

Paul Homoly's book: Isn't It Wonderful When Patients Say "Yes"

http://amzn.to/2cQXyZ8

Sign up for Dr. Tarun Agarwal's courses: http://3d-dentists.com

Hear both Dr. Agarwal and Dr. Low at the upcoming Voices of Dentistry summit Jan 27-28 in Nashville, TN https://voicesofdentistry.com

Dr. Tarun Agarwal represents the next generation of leadership for the dental profession. As a respected speaker, author and opinion leader, he is changing the way general dentists practice. His common sense approach to business, dedication to clinical excellence, integration of technology and down to earth demeanor has made him a recognized educator.

Dr. Russell Kirk shares his journey to ownership as an oral surgeon. He shares the questions he would ask as a potential associate and the lessons he's learned as a business owner.

Listen to Dr. Kirk's podcast, the Business of Dentistry Podcast and hear him live at the Voices of Dentistry Summit in Nashville, TN, January 27-28.

Go to voicesofdentistry.com and use the promo code "shared" for $200 off your ticket.

Full show notes at Sharedpractices.com/podcast/1-7

Dr. Van de Vyver graduated from the University of Michigan School, of Dentistry in 2006. After 5 less than desirable positions as an associate, he decided to pursue dentistry from a different direction and purchased his first practice. In this episode we learn from Dr. Van de Vyver what he would look for in an associateship and how he is now in the process of moving towards owning 8 dental practices. Resources mentioned in the show:

Practice in a Pod http://practiceinapod.com/

So Good They Can't Ignore You http://amzn.to/2c0uL58 Comprehensive Orthodontic CE RIchard Litt - F.O.R.C.E. https://www.forceint.com

Dr Chris Salierno shares his simple checklist for deciding if an associateship is worth it, his opinions on AEGDs and GPRs and how to structure your associateship relationship.

Download the bonus for this episode: Dr. Salierno's Advice to New Grads

Dr. Salierno writes both for his personal blog, The Curious Dentist and as the editor of Dental Economics magazine.

Chris Salierno, DDS, is an internationally-recognized author and lecturer. His audiences include dentists, dental students, office managers, and hygienists. His areas of expertise include practice management, leadership development, implant prostheses, occlusion, and cosmetic dentistry.