Art of Dental Finance and Management

For many sports enthusiasts, being able to work for a major NBA, NFL or NHL team would be an absolute dream. Our guest on this week’s podcast, Dr. Jeffrey Hoy, served as the team dentist for the Lakers and Kings, as well as other large Los Angeles sports teams for 30 years. In addition to his collection of championship rings, he has countless memories to commemorate this epic time in his dentistry...

With all the changing legislation and updates to the various relief programs, it’s important for  dentists  to stay informed. Although it may seem complex, Art helps make sense of it to help you with strategic  tax planning  and maximize profitability in your practice.    In this episode of  The Art of Dental Finance and Management podcast ,  Art  updat...

Dentists can benefit greatly by utilizing technology tools to automate practice functions. Use of technology and automation allows dental practices to operate efficiently and can lead to increased profitability. In this episode of The Art of Dental Finance and Management podcast, Art visits with Daniel Larsen, principal product manager from Henry Schein One. Art and Daniel discuss the five things...

As a dentist, operating your dental practice involves so much more than just clinical care. There are many aspects to managing the business that you likely never learned while in school. Utilizing dental practice consultants can help lessen the learning curve for dentists in their business operations. They can also coach you in best practices for a well-run business and maximize profitability. &nb...

As year-end approaches, tax planning preparation becomes increasingly important. Dentists who’ve received  HHS Provider Relief Funds , or  the SBA’s PPP  or EIDL loans certainly need to keep good accounting of any funds received to help them financially through the  COVID-19  shutdowns. To maximize tax savings, dentists need to be proactive and keep tax planning and prepar...

It’s increasingly important for dental practices to operate digitally, especially during this COVID-19 pandemic. Managing your practice from the cloud allows your entire team access to patient information in real time and gives your patients the ability to complete and submit patient forms online. This makes for an efficient and streamlined process, especially when you have multiple dental office...

When people are searching for a new dentist, they typically conduct their search online. With that search, they also analyze the online reviews of your practice, along with the reviews of other dentists in the area that they’re considering. Showing up in search is just the first step. Positive online reviews are key to helping you build trust with patients and drive practice growth.    I...

As dentists continue to recover from the challenges of COVID-19 practice closures, hear how one dentist achieved profitability following reopening. In this episode of The Art of Dental Finance and Management podcast, Art visits with Dr. Sam Ahani who runs a very successful general dental practice in Northern California. Dr. Ahani shares how he chose to navigate his practice closure during the COVI...

In this episode of The  Art of Dental Finance and Management podcast , Art speaks to one of the top dental management consultants in the country,  JoAnne Tanner of Tanner Management .  Joanne and Art discuss how hygiene schedules in the first month or  two after the reopening of dental offices  have been strong. However, there are many offices that will experience a signif...

During a time of immense change, dental practices are beginning to look toward the future and how will they survive the COVID-19 pandemic. One consideration is transitioning your practice through either buying a new practice or selling your dental practice.    The guest for this week’s episode of The Art of Dental Finance and Management podcast is Art’s long-time friend and dental attorn...

In today’s episode of The Art of Dental Finance and Management podcast, Art Wiederman, CPA covers a variety of important topics to help dentists navigate this critical time. This is the first episode of the podcast since HMWC’s merger  with Eide Bailly  and more detailed information, tools and resources are provided about this exciting development. For more information on what Art and th...

On Friday, July 10, the Department of Health and Human Services (HHS) opened the CARES Act Provider Relief Fund to all dentists who meet certain requirements. In this episode, Art reviews the rules as to who is eligible and discusses the Terms and Conditions that dentists need to comply with if they accept this aid (generally 2% of their gross receipts). It is important for dentists to review the...

In this episode, Art meets with dental CPA, Robert Edwards and his wife, dental management consultant, Dr. Sharon Tiger. They are two of the top dental professionals in the country and they provide tips for reopening your dental practice.    Art, Robert and Sharon discuss what financial moves dentists should be making during the reopening of their offices, including:    • How t...

As dentists start reopening their practices, it becomes increasingly important for them to develop a solid plan for the coming months. In addition to providing updates on insurance reimbursements, PPP and a potentially helpful new tax credit, Art outlines the five most important things to focus on when reopening your dental practice: 1.    Developing a financial plan 2.    Lead...

In today’s episode of The Art of Dental Finance and Management podcast, Art meets with Kristie Boltz, owner of MyDentalCMO, to discuss marketing your dental practice through COVID-19. Through her company, Kristie operates as the Chief Marketing Officer for multiple dental practices. Kristie and Art discuss: • What a Chief Marketing Officer's job for a dental practice entails • The best type of mar...

Now that we have a lull in reporting on SBA loan programs, the focus should shift to bringing dental practices back strong. This week’s episode features Dr. Paul Homoly of Homoly Communications. For decades, Dr. Homoly has been on the cutting edge of helping doctors improve their case presentation to persuade patients to say "Yes" to treatment. He is a master at dialoguing with patients, and share...

On Friday, June 5, President Trump signed the Paycheck Protection Flexibility Act into law. This new legislation changes many of the rules that allow Paycheck Protection Program loan recipients to obtain forgiveness from the government.  Art discusses in detail: • Provisions of the new law • How it makes forgiveness easier  • How dentists should proceed with the use of their loan money&n...

As dentists across the country begin to reopen their practices, there is additional guidance to review. In this episode, Art provides insight into the latest updates on PPP rules and the congressional law changes that are in process.   Art shares promising statistics on reopening from an ADA survey, as well as from dental coaches on what they’re seeing with their clients.  Art discusses:...

Art meets with one of the nation’s leading dental coaches and a Phoenix, Arizona practice co-owner, Gary Takacs, in today’s episode of The Art of Dental Finance and Management podcast. Gary is a master at coaching teams and growing practices.  Gary shares what he has been advising his clients regarding reopening their practices and outlines the various steps and procedures dentists should tak...

In this episode of the Art of Dental Finance and Management podcast, Art covers how to obtain maximum forgiveness for a PPP loan. On Friday, May 15, the SBA issued an eleven-page Paycheck Protection Program Forgiveness Application that business owners must submit to apply for loan forgiveness.  In addition to reviewing the main points of the application, Art provides dentists with guidance on...

Art visits with labor law attorney Ali Oromchian of Dental & Medical Counsel, PC on today’s episode of The Art of Dental Finance and Management podcast.  Art and Ali discuss the legal aspects of reopening your dental practice. They answer many of the legal questions dentists have regarding employee issues during the COVID-19 pandemic, including: • Tips on reopening your dental office  •...

Art meets with three members of the Academy of Dental CPAs: Mark Rosen, BJ Kaucher and Bob Gray in today’s episode of The Art of Dental Finance and Management podcast. The panel discusses strategies for dentists to use SBA loan funds acquired from the EIDL and PPP loan programs and how to obtain maximum forgiveness.  As of May 3, the SBA still has not provided critically-needed guidance to an...

Attorney Randy Curry and Art discuss issues facing dentists during the COVID-19 pandemic in this episode of The Art of Dental Finance and Management podcast:  • Whether a dentist's business interruption policy can cover losses  • Policy provisions in these types of policies  • Ongoing litigation  • Potential state and Federal legislation coming which could require insurance com...