Shows
Art of Dental Finance and ManagementThe One Big Beautiful Bill Act: What Does This Mean for Dentists?On July 4, President Trump signed the One Big Beautiful Bill Act (OBBBA), which contained many tax changes that will affect dentists. In this episode of The Art of Dental Finance and Management, Art visits with Don Watson, Partner and Director of Dental Practices at Eide Bailly, to discuss the provisions of this new legislation.Art and Don discuss topics including the Standard Deduction, new personal exemptions for seniors, the increase in the State and Local Tax (SALT) deduction, the Section 199A and State tax workaround rules, changes to the Child Tax Credit and Estate and Gift Tax...
2025-08-141h 19Art of Dental Finance and ManagementHow to Empower Your Dental AssistantsWhenever you talk to a dentist about what they can do to improve their practice, you always hear things like drive more growth by adding new patients, improve your overall departments, etc. But you rarely ever hear a dentist talk about empowering their dental assistants. On this episode of “The Art of Dental Finance and Management with Art Wiederman, CPA” Art visits with the founder of Dental Assistant Nation, Kevin Henry. Kevin talks about why Dentists do not spend more time empowering their Dental assistants, why it is so important for them to feel important in the practice, and why...
2025-07-2547 minArt of Dental Finance and ManagementStudent Loan and Other Debt Strategies for DentistsIf you are going to school to become a dentist, or have recently started your career in dentistry, there are many important financial considerations, starting with borrowing when you’re in dental school. There are several loan options from federal to personal borrowing options, so how do you know what fits you best and what will leave you in the best financial situation when you start your career?In this episode of The Art of Dental Finance and Management. Join Art Wiederman as he sits down with Dr. Amrita Patel, a general dentist and award-winning author and na...
2025-07-1156 minArt of Dental Finance and ManagementHow Artificial Intelligence is Revolutionizing the Dental IndustryThe future of artificial intelligence (AI) in dentistry promises enhanced diagnostics, personalized treatment plans, streamlined practice management, and increased case acceptance, all while maintaining the human element of dental care. In this episode of The Art of Dental Finance and Management, Art visits with Dr. Divian Patel and Bernard Casse, co-founders of TrustAI. TrustAI’s software can have conversations with a dentist and help them make the best clinical decisions possible. The three discuss how AI integrates with dental technology and the diagnostic capabilities AI brings to the table. About the Guests Dr. Divian Patel, Tr...
2025-06-2655 minArt of Dental Finance and ManagementCreating a Safe Work Dental Work Environment, Enhancing Patient Communication and Choosing the Right Leadership StyleOne of the traits that separate great dentists from good Dentists are their abilities to communicate with patients and to lead a cohesive, happy dental team. Today, Art visits with Jonathan Bonanno who is an Industrial Organizational Psychologist and whose work involves helping dentists to communicate with their patients and also involves the importance of understanding employees needs, providing a psychologically safe and positive work environment. Art and Jonathan discuss what steps a Dentist can take to improve team cohesiveness and efficiency, why calling your team a “family” might not be the best way to refer to them, and how...
2025-06-111h 02Art of Dental Finance and ManagementHow Procurement Technology Can Reduce Your Dental Supply CostsDentists in private practice are bombarded with not only their local dental supply representative visiting on a regular basis, but dozens dental supply vendors standing in line at the practice entrance. These vendors most often want to sell the practice owner their product, but did you know there are ways to save? With Procurement Technology dentists can reduce their supply costs by as much as 30%. In this episode of the Art of Dental Finance and Management, Art it joined by Jordyn Levitas, head of Strategic Partnerships at Torch Dental. Levitas discusses how artificial intelligence is helping to...
2025-05-1557 minArt of Dental Finance and ManagementChoosing the Right Retirement Plan for Your Dental PracticeIn this episode of The Art of Dental Finance and Management, Art Wiederman and Kurt Oswell dive into the intricacies of retirement plans tailored for dental practices. They discuss the benefits of 401(k) profit-sharing plans, the flexibility of new comparability allocations, and the advantages of defined benefit and cash balance plans. Kurt explains how these plans can be customized to meet the unique needs of each practice, considering their employees’ demographics or financial goals. They also highlight the importance of working with experienced professionals to optimize retirement savings and ensure financial security for both the owners and their employees.
2024-12-181h 04Art of Dental Finance and ManagementYear-End Financial Planning for Dental ProfessionalsIn this episode of the Art of Dental Finance and Management Podcast, Art Wiederman is joined by Justin Pattelaro, Wealth Advisor at Sequioa Financial Group, for a conversation on financial planning for dental professionals. Tune in to discover strategies for meeting your personal and professional financial goals, maximizing the impact of charitable giving, and setting yourself up for financial success in the new year.
2024-12-0457 minArt of Dental Finance and ManagementPost-Election Recap: How Potential Legislation Could Impact Dental PracticesIn this episode of the Art of Dental Finance and Management Podcast, Art Wiederman is joined by Eide Bailly’s Director of Legislative Affairs Mel Schwarz for a conversation about the outcomes of the 2024 presidential election. From equipment purchases to pension plans, Art and Mel discuss potential shifts in tax legislation and how they may affect dental practices.
2024-11-131h 01Art of Dental Finance and ManagementTransform Your Dental Practice: Strategies for Growth and ProfitabilityIn this episode of the Art of Dental Finance and Management Podcast, Art Wiederman and Gene St. Louis dive deep into what it takes for dental practices to excel and achieve profitability. Their conversation covers a comprehensive range of topics, including the latest software and technology to streamline operations, essential leadership training to inspire and manage teams effectively, and strategies to create an exceptional customer experience that keeps patients coming back. Whether you’re looking to upgrade your practice’s tech stack or enhance your leadership skills, this episode is packed with actionable insights to help your dental practice thri...
2024-10-301h 03Art of Dental Finance and ManagementMaximizing Your Dental Practice Sale: Avoid Common PitfallsIn this episode of the Art of Dental Finance and Management, host Art Wiederman is joined by Brannon Moncrief of McLerran & Associates to delve into the complexities of DSO transactions. Whether you’re contemplating a practice sale or simply curious about the intricacies of these deals, this conversation covers essential topics such as the tricks DSOs might try to pull and the importance of having a sell-side advisor at the table when navigating a sale. Brannon and Art also discuss the current state of the private equity and DSO world, offering insights into what to expect when in...
2024-09-251h 02Art of Dental Finance and Management200th Episode Special: Art’s Words of Wisdom“Today is the first day of the rest of your life. There's nothing you can do about all the days before today.” In this special 200th episode of The Art of Dental Finance and Management, Art reflects on his 40-year career as a dental CPA — including how he got to where he is today and where he hopes to go next. Art encourages listeners to do the same and shares his advice for becoming not just a more successful dentist, but a happier, more fulfilled person. Thank you to our listeners, creative partners, sponsors, and everyo...
2024-07-101h 05Art of Dental Finance and ManagementA Must-Have for Dental PracticesSocial media is no longer a nice-to-have for dental practices; it’s a must-have. In this episode of The Art of Dental Finance and Management, Art Wiederman is joined by author and social media marketing specialist Rita Zamora for a conversation about leveraging social media to attract patients, recruit employees, and build trust. Rita shares best practices for what, when, and how to post for the maximum impact. Listeners of the podcast are encouraged to email Rita at rita@ritazamora.com for a special offer.
2024-06-2653 minArt of Dental Finance and ManagementHR Advice to Protect Your Dental PracticeIn this episode of The Art of Dental Finance and Management, host Art Wiederman is joined by acclaimed dental attorney Ali Oromchian for a conversation about human resources in dentistry. Ali shares the most common HR mistakes he sees in dental practices, as well as advice for avoiding legal challenges, maintaining compliance, and fostering a positive work environment. Art and Ali also discuss some of the most pressing issues in dentistry today: artificial intelligence, hybrid work, and an aging workforce.
2024-06-1255 minArt of Dental Finance and ManagementLegal Considerations for Dealing with DSOsIn this episode of The Art of Dental Finance and Management, host Art Wiederman welcomes dental attorney Jason Wood to discuss crucial legal considerations for practices thinking about selling to a Dental Service Organization (DSO). They cover who should (and shouldn’t) consider selling, common mistakes and how to avoid them, and essential pre-sale factors to ensure a smooth and profitable transition. Tune in for helpful advice on navigating the DSO partnership process and making informed decisions for your practice.
2024-05-221h 02Art of Dental Finance and ManagementHow to Run a Fee-for-Service Dental PracticeIn your dental practice, it’s important to build patient relationships and work diligently to meet your patients’ needs. When you are feeling burdened or forced to work in a fast-paced environment, it can take away the personalized care you are hoping to provide. In today’s episode of “The Art of Dental Finance and Management,” Art Wiederman talks with Dr. Natasha Lee, former president of the California Dental Association. Dr. lee talks about how to refocus, review your benefits plan and ensure your reimbursement plan is good enough for you to slow down.
2023-10-251h 01Art of Dental Finance and ManagementTools for Successful Dental Practice ManagementThere are many things you need to consider when running a dental practice, including effective scheduling and how to keep your team working together smoothly. In this episode of The Art of Dental Finance and Management podcast, Art meets with Lois Banta, CEO of LJB Seminars, to talk about relevant topics from her books “Minimizing Open Time” and “Secrets to Practice Success – Top 10 Management Tools.” Art and Lois discuss management tools you can use to successfully run your dental office, including how to reduce appointment cancelations as well as how you can encourage team bonding through team retreats outside the office...
2023-08-231h 00Art of Dental Finance and ManagementWhat Dentists Should Consider before Partnering with a DSOSelling part of your dental practice to a Dental Support Organization (DSO) is a big decision and it’s important to know all the details. In this episode of The Art of Dental Finance and Management podcast, Art meets with Chip Fichtner, co-founder of Large Practice Sales, to discuss what dentists should consider before making the decision to contract with a DSO. Art and Chip also discuss how dentists should navigate the process of selling to a DSO, the difference between invisible DSOs and traditional DSOs, and which dental practices might be eligible. Reach out to Art if...
2023-06-281h 05Art of Dental Finance and ManagementCurrent Dental Industry TrendsThe COVID-19 pandemic had a major impact on the dental industry and many dental offices are still feeling the effects. In this episode of The Art of Dental Finance and Management podcast, Art meets with Anders Bjork, Vice President of Strategic Intelligence and Analytics for the California Dental Association (CDA). Art and Anders discuss different trends that have been occurring in the dental industry from the time of the COVID-19 pandemic, including staffing issues, declining dental school application numbers, and generational trends. Reach out to Art if you have any questions regarding dental finance and management for...
2023-06-141h 11Art of Dental Finance and ManagementInsurance Considerations for DentistsHaving the right life insurance policy is essential because you want to ensure your family is protected if something were to happen. In this episode of The Art of Dental Finance and Management podcast, Art meets with Zachary Schnitzler, Insurance Specialist at Eide Bailly, to discuss the different types of insurance dentists may need including life insurance, disability insurance, and long-term care insurance. Art and Zach also discuss how to ensure you’re making the right decisions when it comes to choosing your insurance policy. Reach out to Art if you have any questions regarding dental finance an...
2023-05-241h 05Art of Dental Finance and ManagementWhat Dentists Might Consider When it Comes to Insurance Company RelationshipsThe decision to change your practice’s relationship with an insurance company can be challenging, and the fear of losing patients may be holding you back. In this episode of The Art of Dental Finance and Management podcast, Art meets with John Riley, executive vice president of Amplify 360, to discuss how dental offices can evaluate their relationship with insurance companies to potentially become more profitable. Art and John also touch on the importance of marketing, including examples of marketing tactics you can use to attract patients. Reach out to Art if you have any questions re...
2023-04-261h 10Art of Dental Finance and ManagementHow Dentists Can Navigate the Current State of the EconomyIn this episode of The Art of Dental Finance and Management podcast, Art discusses the current state of the economy, where he thinks the economy is headed, and how it might affect your dental practice in the long term. Art also speaks on the importance of owning real estate and how to best navigate this tax season. Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist. [CALL OUT BOX – We Ca...
2023-03-221h 08Art of Dental Finance and ManagementTop Tips to Attract and Keep the Best Staff on Your Dental TeamIn this episode of The Art of Dental Finance and Management podcast, Art speaks with Eric Vickery, dental coach at All-Star Dental Academy. Art and Eric discuss how important it is for dentists to strengthen their leadership and team-building skills to positively motivate their dental team, resulting in increased retention.Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist.Being more strategic in all aspects of your dental practice will...
2023-03-081h 00Art of Dental Finance and ManagementWhat Dentists Should Consider Before Starting Their Own PracticeIn this episode of The Art of Dental Finance and Management podcast, Art speaks with Dr. Christopher Green, cofounder of The Practice Launchpad. Art and Dr. Green discuss what dentists should consider before starting their own practice, whether opening their first practice, or expanding an existing practice to multiple locations. It’s important for dentists to carefully analyze the opportunities, challenges and potential pitfalls before endeavoring on practice ownership. Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be fo...
2023-02-221h 07Art of Dental Finance and ManagementDentists: Top 10 Tips for a Successful 2023In this episode of The Art of Dental Finance and Management podcast, Art speaks on the importance of starting the new year strong with his top 10 tips for success. Art discusses how dentists may be impacted by the current economic landscape and what they should be focused on in their personal lives, dental practice and financial planning for a successful 2023 and beyond.Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist.
2023-02-081h 11Art of Dental Finance and ManagementHow Dentists Can Build Wealth Despite Economic UncertaintyIn this episode of The Art of Dental Finance and Management podcast, Art meets with Daren Pladson, Principal and Senior Wealth Advisor at Eide Bailly. Art and Daren discuss how dentists can continue to build wealth by investing in the financial market, despite economic uncertainty. The key to good, healthy confidence in your financial future is to develop a plan and work with your financial advisor in order to withstand the volatility. Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental...
2023-01-251h 00Art of Dental Finance and ManagementDentists: What You Need to Consider Before Selling Your Practice to a DSOIn this episode of The Art of Dental Finance and Management podcast, Art meets with Brannon Moncrief, Principal and CEO of McLerran & Associates, a dental transitions advisory firm. Art and Brannon discuss how dentists should evaluate the various aspects of transitioning to a DSO or taking on a private equity partner. Some key areas for dentists to consider include: • Calculating EBITDA and practice value• Comparing DSO options and various deal structures• Reviewing different types of buyers available in the marketplace• Determining if and when it makes sense to pursue a DSO affiliat...
2023-01-111h 13Art of Dental Finance and ManagementStrategies for Obtaining Financing for Your Dental PracticeIn this episode of The Art of Dental Finance and Management podcast, Art meets with Justin Klingshirn, Vice President of Dental Sales for Bank of America Practice Solutions. Art and Justin discuss the current economic conditions affecting interest rates and strategies for obtaining financing for dental practice startups, remodels or acquisitions. Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist.Being more strategic in all aspects of your dental practice...
2022-12-281h 05Art of Dental Finance and ManagementYear-End Tax Planning Considerations for DentistsIn this episode of The Art of Dental Finance and Management podcast, Art meets with Mel Schwarz, JD, CPA, Director of Legislative Affairs in Eide Bailly’s National Tax Office. Art and Mel discuss the various tax legislation influencing dentists’ year-end tax planning and how to best minimize tax liabilities. Some tax considerations include:• Employee Retention Credit (ERC) • Inflation Reduction Act (IRA)• Energy efficiency incentives• Electric vehicles• Tax-exempt organizations • Recognizing capital gain • Retirement plans• Tax rate increase• Depreciation of equipment and vehicles...
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Dental Acquisition UnscriptedDue Diligence CPA Evaluation for a Dental Practice For Sale w/ Art Wiederman & Eide BaillyArt Wiederman, Director of Dental Practices, CPA He specializes in serving dental practices. He oversees a variety of services including accounting, tax compliance and planning, financial planning, retirement planning and financial practice management consulting. Art’s expertise is not only in taxation issues for dentists, but also in his knowledge of dental practice metrics and benchmarks. Art has the ability to look at a dentist’s statements and identify profit holes in their practice. Contact Art Weiderman☎ 657.279.3243 📧 awiederman@eidebailly.com Subscribe to Art's podcast for more great content from him:🎙 https://www.eidebailly...
2022-10-2450 minArt of Dental Finance and ManagementDental Industry Trends, Updates and Financial TipsIn this episode of The Art of Dental Finance and Management podcast, Art provides general dental industry updates and trends, as well as tips to help dentists operate their practice more profitably. Art covers timely topics affecting dentists including: • HHS Provider Relief Funds• Employee Retention Credit• DSOs• PPOsReach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist.Being more strategic in all aspects...
2022-07-131h 07Art of Dental Finance and ManagementBuild Wealth with a Financial Plan Despite a Volatile MarketNo matter what’s going on with the stock market or economy, it’s important for people to follow an established financial plan. When investing long term, markets will always fluctuate, so when you set goals, develop a plan and follow it through. It will help you grow your wealth despite volatility in the market. In this episode of The Art of Dental Finance and Management podcast, Art meets with Daren Pladson, Principal and Senior Wealth Advisor at Eide Bailly. Daren and Art discuss how global issues are affecting the financial markets, including:· Inflation·...
2022-06-081h 01Art of Dental Finance and ManagementLessons in Developing Boldness from the Founder of 1-800-DENTISTIn this episode of The Art of Dental Finance and Management podcast, Art meets with Fred Joyal, founder of dentist referral business 1-800-DENTIST. Fred recently published the book “Superbold — From Under-Confident to Charismatic in 90 Days” and shares nuggets from what he’s learned throughout his dental marketing career, as well as how anyone can develop boldness in business and life. Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist.Being mo...
2022-05-111h 02Art of Dental Finance and ManagementInnerView Allows Dentists to Reliably Detect and Diagnose Tooth DamageIn this episode of The Art of Dental Finance and Management podcast, Art meets with Dr. Cherilyn Sheets and Robert Hayman to discuss InnerView, a tool currently in the approval phase that helps dentists detect and diagnose structural damage in teeth and implants that can’t be seen in an x-ray or visual exam.InnerView uses quantitative percussion diagnostics to measure how structurally sound and strong a tooth or implant is. Certain fractures can be almost impossible to detect until they are severe, and patients don’t know something is wrong until they are experiencing pain. It’s impo...
2022-04-2758 minArt of Dental Finance and ManagementAvoid Healthcare Fraud with Accurate Record KeepingIn this episode of The Art of Dental Finance and Management podcast, Art meets with Dr. Roy Shelburne, a medical records keeping and business systems consultant who helps protect dentists from committing healthcare fraud. Dr. Shelburne has developed a compliance program for dentists to help them keep accurate records in their practice.In March 2008, Dr. Shelburne was found guilty of healthcare fraud, racketeering and money laundering and spent 19 months in a Federal Prison Camp. He illustrates how important it is for dentists to keep good records with accurate coding and submitting claims properly. If your records, billing...
2022-04-131h 14Art of Dental Finance and ManagementAccurately Document Procedure Codes for Proper ReimbursementAccurate medical billing can be a lot for healthcare professionals and dentists to track. After all, there were over 400 CPT code changes in January 2022, including 249 new codes, 63 deletions and 93 revisions.. In this episode of The Art of Dental Finance and Management podcast, Art speaks with Susan Rohde, Senior Manager in Eide Bailly’s healthcare division, on the latest in medical and dental coding. In this episode, Susan and Art discuss: • The importance of using the correct procedure codes — medical (CPT) and dental (CDT) — to submit for proper reimbursement• How dentists can accurately...
2022-03-2354 minArt of Dental Finance and ManagementOptimize and Strengthen the Culture of Your Dental PracticeIt’s been said, “Success without fulfillment is the ultimate failure.” In your dental practice, growth doesn’t always equate to happiness. In this episode of The Art of Dental Finance and Management podcast, Art speaks with Kiera Dent from the consulting company, The Dental A Team. Kiera and Art discuss ways to take care of your team and build a good culture in your practice. They also discuss optimizing everything from system processes to handling patient cancellations, scheduling, billing and more. This ultimately leads to greater overall fulfillment and profitability. Reach out to Art if you h...
2022-03-091h 03Art of Dental Finance and ManagementHow to Attract and Retain High-Caliber Staff for Your Dental PracticeIn this episode of The Art of Dental Finance and Management podcast, Art meets with Dr. Summer Kassmel, dental practice owner and business coach for dentists. Art and Dr. Kassmel discuss important HR topics affecting dentists including how to:• Navigate the “Great Resignation” trend • Communicate with staff• Attract and hire high-caliber employees• Create a dynamic workplace culture Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist...
2022-02-2359 minArt of Dental Finance and ManagementTips to Prep for a Less Taxing Tax FilingIn this episode of The Art of Dental Finance and Management podcast, Art meets with fellow Eide Bailly dental CPAs Scott Haberman and Don Watson to discuss how dentists can best prepare for the coming tax filing season. They cover some key tax prep considerations to ensure a less taxing experience:o Gather all tax informationo Report all incomeo Identify all legal deductionso Calculate salary for S Corporation shareholders o Decide whether to file on time versus extending Reach out to Art if you...
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Art of Dental Finance and ManagementTips to Prep for a Less Taxing Tax FilingIn this episode of The Art of Dental Finance and Management podcast, Art meets with fellow Eide Bailly dental CPAs Scott Haberman and Don Watson to discuss how dentists can best prepare for the coming tax filing season. They cover some key tax prep considerations to ensure a less taxing experience: o Gather all tax information o Report all income o Identify all legal deductions o Calculate salary for S Corporation shareholders o Decide whether to file on time versus extending Reach out to Art if you have any questions regarding de...
2022-02-091h 05Art of Dental Finance and ManagementHow Dentists Can Reduce Overhead and Increase ProfitabilityIn this episode of The Art of Dental Finance and Management podcast, Art meets with Dr. Mark Costes of Dental Success Network to discuss how dentists can reduce overhead and increase profitability in their dental practice. Five key areas dentists can focus on to help increase their practice profitability include:o Foundational core valueso Operational manual o Patient experienceo Cash flow controlo New patient acquisitionReach out to Art if you have any questions regarding dental finance and management for your dental practice. More...
2022-01-261h 07Art of Dental Finance and ManagementHow Dentists Can Reduce Overhead and Increase ProfitabilityIn this episode of The Art of Dental Finance and Management podcast, Art meets with Dr. Mark Costes of Dental Success Network to discuss how dentists can reduce overhead and increase profitability in their dental practice. Five key areas dentists can focus on to help increase their practice profitability include: o Foundational core values o Operational manual o Patient experience o Cash flow control o New patient acquisition Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist.
2022-01-261h 07Art of Dental Finance and ManagementDentists: With the New Year, it’s Time to Assess Your Financial PlanWith the start of each new year, dentists should assess their financial plan to help reach their goals and build wealth. Planning for financial independence while building a dental practice, along with saving for retirement should remain top priority. In this episode of The Art of Dental Finance and Management podcast, Art discusses the importance of assessing your financial plan yearly. As a fundamental part of the financial planning process, ideally with the guidance of your financial planner, you should review all aspects of your finances to gauge if you’re on the right track, and where you...
2022-01-121h 10Art of Dental Finance and ManagementHow Dentists Can Do Strategic Marketing to Increase ProfitabilityStrategic and compelling marketing can help dentists increase their production and closing percentages, and ultimately, their profitability. In this episode of The Art of Dental Finance and Management podcast, Art meets with the Founder and CEO of Progressive Dental Marketing, Bart Knellinger to discuss how dentists can make sure their dental practice marketing is impactful. Strategies include: · Utilize custom, compelling imagery · Build a website focused on emotion and quality of life · Establish and follow a reasonable marketing budget · Develop an effective sales process · Train staff on communication skills to increase scheduling and case acceptance Reach out to Art if you have any questions regarding dental finance a...
2021-12-221h 05Art of Dental Finance and ManagementHR Laws Dentists Should be Knowledgeable AboutLike other industries, dentists also struggle with fundamental human resources issues. Attracting, training and retaining quality employees are some of the key issues that can make or break a business. In this episode of The Art of Dental Finance and Management podcast, Art meets with labor law attorney, Ali Oromchian to discuss how to hire, fire and retain people, as well as new labor laws for 2022 that dentists should know about. Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eide...
2021-12-0855 minArt of Dental Finance and ManagementManage Your Dental Practice Using Solid Business FundamentalsDentists go to school to learn how to diagnose and treat patients. They often miss the important components needed, yet need to learn how to run a business, especially when it comes time to manage their own practice. It’s important to understand the fundamentals of operating a business, managing people and leading strategically to be successful. In this episode of The Art of Dental Finance and Management podcast, Art discusses his philosophy and methodology of managing a dental practice. A well-run practice will lead to dentists being able to serve more patients and ultimately, greater financial free...
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Art of Dental Finance and ManagementIncrease Profitability with Improved Dental Practice ManagementDentists can increase the profitability of their dental practice by understanding important financial principles, implementing solid planning strategies and by having the right people, processes and tools in place. In this episode of The Art of Dental Finance and Management podcast, Art meets with Dr. Anissa Holmes of Dental Boss Academy to discuss how dentists can improve their dental practice management. A better run practice will lead to being able to serve more patients and ultimately, greater financial freedom. Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide B...
2021-11-101h 07Art of Dental Finance and ManagementBuilding a Dental Website for Your Practice: Key Elements to ConsiderIt’s important for all businesses and organizations, including dentists to have good online presence. This helps attract new patients and stay competitive with other practices. One sure way to accomplish this is by ranking on the first page of Google searches, meaning your practice shows up toward the top in the list of search results. In this episode of The Art of Dental Finance and Management podcast, Art meets with Jeff Gladnick, CEO of Great Dental Websites, to discuss how to build a dental website for your practice. Jeff outlines the key elements to consider for your dental website including...
2021-10-271h 05Art of Dental Finance and ManagementAttracting, Compensating and Retaining Quality Dental Team MembersThe number one challenge dental practices have had for years has been to find and retain good team members, and that is even more important given the COVID-19 pandemic. In today’s episode of The Art of Dental Finance and Management podcast, Art speaks with dental consultant Sharyn Weiss about issues in hiring and compensating of dental team members. Art and Sharyn discuss why “competitive” compensation really does not mean anything, why Sharyn thinks bonus plans could be a disincentive to productivity, how to determine salary ranges in your area and myths about money and motivation. Art and Sharyn also sp...
2021-10-131h 06Art of Dental Finance and ManagementUnderstanding Current Market Trends For Peace of Mind and Financial SecurityUnderstanding the various influences affecting the markets will help dentists navigate any financial uncertainty. For peace of mind and financial security, it’s important to obtain guidance from experienced financial advisors who understand the complexities of market trends and economic indicators. Your advisory team will help you build wealth in the long-term, despite fluctuation. In this episode of The Art of Dental Finance and Management podcast, Art meets with Jim Davenport, Managing Partner of Beacon Pointe Advisors to discuss current market trends, including inflation, market performance and the impact of taxes, so you can better anticipate downturns and make more informed fi...
2021-09-301h 01Art of Dental Finance and ManagementThe Importance of Financial ConversationsIn this episode of The Art of Dental Finance and Management podcast, Art speaks about the importance of having good communication about your finances. This includes open conversations regarding your philosophies about money, priorities, lifestyle, goals and living within your means to prevent debt. Talking points should include: · Earnings · Assets · Debt · Budget · Philosophies about money · Priorities · Retirement plans · Handling possible different life scenarios · Sharing expenses if finances are kept separate It’s important to work with a financial planner you both trust that will help you meet your goals and strengthen your financial future. Be sure you both attend the planning meetings and are involved in the discussions. ...
2021-09-151h 11Art of Dental Finance and ManagementIndustry Updates and Career Guidance for DentistsIn this episode of The Art of Dental Finance and Management podcast, Art reviews industry updates, career guidance and life tips to help dentists be set for success. He also dives into some relevant topics including PPP loan forgiveness, Employee Retention Tax Credits (ERTC) and the HHS Provider Relief Fund. Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist. Reach out to Art if you have any questions regarding dental finance and management for your dental practi...
2021-09-011h 07Art of Dental Finance and ManagementConsiderations When Selling Your Dental Practice to a Group PracticeDentists often contemplate partnering with large group practices or Dental Support Organizations (DSOs) to maximize resources and grow. In this episode of The Art of Dental Finance and Management podcast, Art meets with David Lohmann, CEO of Apex Dental Partners, which owns 27 dental practices throughout Colorado, Oklahoma and Texas. Art and David discuss the advantages and disadvantages of selling a dental practice to a group practice, as well as what dentists should consider when negotiating a transition. Here’s what you’ll learn more about: · How much you’ll be required to work · How much control you’ll need to relinquish · Valuati...
2021-08-181h 10Art of Dental Finance and ManagementHow Dentists Can Grow their Practice with an Invisible DSOThe dental industry continues to consolidate rapidly, providing opportunities for dentists to partner with Dental Support Organizations (DSOs). In this episode of The Art of Dental Finance and Management podcast, Art meets with Chip Fichtner, Principal of Large Practice Sales, to discuss how dentists can accelerate practice growth with an Invisible DSO. Chip explains how larger practice owners can monetize part of their practice without selling all of it. He also explains how it can be done at any phase of a dentist’s career since it’s unrelated to transition planning or retirement strategy. Essentially, dentists retain an owne...
2021-07-2159 minArt of Dental Finance and ManagementBenefits of Implementing Invisalign in Your Dental PracticeDentists can become certified providers of Invisalign treatment. Invisalign is used as an alternative to braces for orthodontic treatments and is growing in popularity. The Invisalign trays are clear, removable aligners that gradually straighten teeth. They’re known for their convenience. Patients can easily remove them for eating, dental hygiene, or special occasions. For dentists, getting on board with offering Invisalign can open their practice to more patients and increased revenue. In this episode of The Art of Dental Finance and Management podcast, Art meets with Dr. Hardik Chodavadia of Enamel Dentistry to discuss offering Invisalign in your dental practice. Dr. Ch...
2021-07-071h 00Art of Dental Finance and ManagementImplement Sleep Apnea Solutions in Your Dental Practice to Benefit Your Patients and Bottom-LineSleep apnea affects an estimated 10% of the adult population and as much as 50% of those with existing cardiovascular conditions (NIH.gov). In the short term, sleep apnea can affect daytime alertness, energy, focus, performance, as well as overall sense of wellbeing. In the long term, it can lead to chronic diseases and premature death. In this episode of The Art of Dental Finance and Management podcast, Art meets with Dr. Emily Stopper, aka "The Happy Dentist", to discuss how dentists can add sleep apnea solutions to their dental practice. Aside from helping patients with their sleep quality to improve their healt...
2021-06-231h 05Art of Dental Finance and ManagementMaximizing ERC Funds for Dentists: Lessons LearnedOn today's episode of The Art of Dental Finance and Management podcast, Art meets with Jim Donovan, Partner-in-Charge of the Employee Retention Credit (ERC) program at Eide Bailly. Art and Jim discuss the lessons they’ve learned throughout the process of helping clients maximize funding, as well as how dentists can still take advantage of the opportunity. Some key points covered in this episode include: • History of the ERC provision • How to qualify • Timing to receive • How to calculate and maximize funding • 2021 rules Reach out to Art if you have any questions regarding dental finance and management for your dental practice...
2021-06-091h 04Art of Dental Finance and ManagementKey Performance Indicators to Help Dentists Grow Their PracticeOn today's episode of The Art of Dental Finance and Management podcast, Art meets with Eric Vickery, dental coach at All-Star Dental Academy, to discuss the Key Performance Indicators (KPIs) for dentists to grow their practice. Art and Eric review tips on how to best manage their practice and track measurable stats including: • New patients • Comprehensive exams • Write-off rate • Hygiene appointments • Lost time in the schedule • Collection rate vs. production Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebail...
2021-05-261h 02Art of Dental Finance and ManagementIncreased Profits and Overall Efficiency for Dentists: How Cloud-Based Software Can HelpDentists who digitally transform their dental practice with cloud-based software can operate more efficiently and profitably. What does this mean? It’s a system of resources without direct active management by the user, which means more time to focus on your practice. On today's episode of The Art of Dental Finance and Management podcast, Art meets with Dr. Bob Dokhanchi from Fox Valley Dental Care in Aurora, Illinois. Dr. Dokhanchi and his team made the switch from server-based to cloud-based software five years ago. In this episode, they discuss advantages of the transition, including: · Data security · Cost savings · Staff adoption/training · Software s...
2021-05-121h 00
All-Star Dental AcademyPPP 2.0 and Employee Tax Credit with Art Wiederman CPA | All-Star Dental AcademyEric and Art discuss the Payroll Protection Program (PPP) and the Employee Retention Tax Credit (ERTC). Basically, before December 27 dentists who took the PPP loan (which was a much better deal) could not apply for the ERTC. When former President Trump signed the Stimulus bill in late December, it allowed business owners to file to claim the ERTC if they qualified, even if they took out a PPP loan. This now allows us to bifurcate wages paid in 2020 so that potentially a dentist can get full forgiveness of their PPP loans as well as claim a tax credit...
2021-05-0301 minArt of Dental Finance and ManagementEconomic Update: National and Global Issues Affecting DentistsOn today's episode of The Art of Dental Finance and Management podcast, Art meets with Dennis Kushner, principal of Fordham Road Collaborative Group. Art and Dennis discuss national and global economic issues affecting dentists including: • Inflation • Interest rates • Pandemic challenges • Global influences • Potential tax legislation • National debt • Economic indicators and trends Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist. Being more strategic in all aspects of your dental practice will lead to increased profitability...
2021-04-281h 02Art of Dental Finance and ManagementIncrease Revenue in Your Dental Office Starting at the Front DeskOn today's episode of The Art of Dental Finance and Management podcast, Art meets with Alex and Heather Nottingham, founders of All-Star Dental Academy. Alex and Heather discuss strategic ways dentists can increase case acceptance in their practice by training the front office staff on verbal skills when answering phones and scheduling. Front office tactics they discuss include: · Taking a relationship approach versus a sales approach in initial conversations · Importance of the initial conversation with a potential new patient · Training staff how to relate and respond to different types of patients · How to overcome objections · How to build the relationship · When to ask for the appointment Reach out to...
2021-04-141h 09Art of Dental Finance and ManagementTax Law Changes for 2021: What Dentists Need to KnowIn this episode of The Art of Dental Finance and Management podcast, Art meets with Mel Schwarz, Director of Legislative Affairs in Eide Bailly’s National Tax Office. Art and Mel discuss the new tax law changes related to the enactment of the American Rescue Plan Act (ARPA) signed into law in mid-March. Mel’s reviews components of the new plan that will help dentists minimize their tax liabilities, as well as provisions that may affect 2020 tax returns. ARPA includes: • Expanded child tax credits • Stimulus payments of $1,400 per person • Student loan debt forgiveness relief • New rules on taxation of unemployment benefits • ...
2021-03-311h 08Art of Dental Finance and ManagementDental School Debt: How to Manage and Pay it OffFor dentists who have student loan debt, learning how to best manage and ultimately pay off that debt, is one of the keys to being more profitable in your dental practice. According to the American Dental Association, the average debt per dental school graduate is now nearing $300,000. In this episode of The Art of Dental Finance and Management podcast, Art meets with Mark Johnson, founder of Student Loans RX. Mark discusses ways to help dentists adopt the best strategy to pay off their student loans and make long-term financial plans. In the episode, Art and Mark also discuss: · New rules passed by Congr...
2021-03-241h 06Art of Dental Finance and ManagementNew Rules Published By the IRS Can Help Dentists Receive More Economic ReliefDentists can receive relief from the Employee Retention Tax Credit (ERTC) and potential full forgiveness of their Paycheck Protection Program (PPP) loans based on new rules published by the IRS. On today’s episode of The Art of Dental Finance and Management podcast, Art discusses the ways that dentists can not only receive potential full forgiveness of their round one PPP loans, but also receive up to a $5,000 per employee with the ERTC. New Treasury guidance was recently published (Notice 2021-20) which explains in greater detail to help dentists and other small business owners best utilize the available funding. In the episode, Art...
2021-03-171h 20Art of Dental Finance and ManagementHow Dentists Can Use LinkedIn to Increase ProfitabilityAccording to experts, dentists can benefit from being active on LinkedIn to expand their social network and increase profitability. LinkedIn is a social network that dentists can use to connect, network and engage with others to attract new patients, increase referrals and grow their dental practice. In this episode of The Art of Dental Finance and Management podcast, Art Wiederman meets with Rhonda Sher, a LinkedIn strategist who coaches professionals in utilizing the platform to its full capacity. Rhonda gives a variety of tips and tricks dentists can use to start being more credible, visible and profitable, including: • Maintain a com...
2021-03-101h 07Art of Dental Finance and ManagementArt’s Golden Rules of Financial Planning During a PandemicDuring the COVID-19 pandemic, dentists may have put their personal financial planning efforts on hold in order to keep their dental practices operating profitably. However, it’s important to reassess your financial plan and goals, as well as take action where it’s needed. Taking the right steps early, revisiting your plan regularly and adjusting as needed can help you achieve your goals and pave the way to a secure retirement. In this episode of The Art of Dental Finance and Management podcast, Art reviews his “golden rules” of financial planning during a pandemic. Art’s Golden Rules is a popular topic he fr...
2021-03-031h 17Art of Dental Finance and ManagementHow Dentists Can Save Money on a New Office with a Cost Segregation StudyDentists who have previously built, or would like to build out a new office, could benefit from a cost segregation study to maximize any available tax deductions. A cost segregation study can be done on any property that is producing income and can accelerate your depreciation deductions, allowing you to get more money in your pocket right away. This way, you’ll pay less in taxes and improve your cash flow. In this episode of The Art of Dental Finance and Management podcast, Art meets with Mark Rogers, Eide Bailly’s Principal-in-Charge of Fixed Asset Services to discuss how cost segregation...
2021-02-241h 05Art of Dental Finance and ManagementHow the ADA's Response to the COVID-19 Pandemic Helped DentistsDentists were hit hard in 2020 by the COVID-19 pandemic. The American Dental Association (ADA) set out to ensure the dental profession was supported and heard during this challenging time. In this episode of The Art of Dental Finance and Management podcast, Art meets with the president of the ADA, Dr. Daniel J. Klemmedson, to discuss the ADA and its goal to help dentists thrive and recover. Advocacy is a large part of the efforts of the ADA on behalf of dentists. Here are a few of the goals and initiatives the organization has undertaken: • Developing online tools and resources • Informa...
2021-02-1754 minArt of Dental Finance and ManagementStart the New Year Strong by Assessing Your Financial Planning StrategiesIt’s a new year, and with it comes the need for dentiststo review their financial planning goals and benchmarks. In order to build wealth and have the lifestyle you desire now—as well as long into retirement—it’s best to start planning and investing early, be consistent in saving throughout your career and maintain focus on your long-term goals. It’s important that dentists build the right financial team full of people they can trust and depend on to help reach goals and build lasting wealth. In this episode of The Art of Dental Finance and Management podcast, Art meets with St...
2021-01-201h 00Art of Dental Finance and ManagementHow Dentists Can Apply for a Second Forgivable PPP LoanSince Congress finalized its new $900 billion economic stimulus package, which includes $284.5 billion to fund a second round of the Paycheck Protection Program (PPP), dentists can now apply for a new PPP loan. The Small Business Administration (SBA) recently released new guidelines with many details about the deductibility of PPP expenses and loan forgiveness. In this episode of The Art of Dental Finance and Management podcast, Artdiscusses everything that dentists should know about the new stimulus package and how it may affect their bottom-line. Art gives step-by-step instructions on securing a second PPP loan and plan for forgiveness: · New application form · New rules about who...
2021-01-131h 12Art of Dental Finance and ManagementHow Dentists Can Utilize Teledentistry in their Practice for Increased Efficiency and ProfitabilityTeledentistry can help dentists ‘add polish to their practice’ by offering additional consultation options to their patients. In addition to being able to provide continuity of care when patients are more hesitant to make office visits, dentists are also able to maximize their practice’s chair time for their clinical appointments. Teledentistry adds to the uniqueness of a practice, as well as enhances the customer's overall dental experience. In this episode of The Art of Dental Finance and Management podcast, Art meets with Cindy Koelbl, Chief Operating Officer of Integrated Telehealth Solutions (ITS) to talk about telehealth and teledentistry. As a subset of tel...
2021-01-061h 01Art of Dental Finance and ManagementHow to Navigate Your Dental Office Lease Negotiations and Save Thousands of DollarsOne impactful way dentists can leverage their cash flow is by negotiating their office lease. Utilizing an expert in this area can help you understand the intricacies and not miss opportunities by doing it yourself. Having a commercial real estate broker negotiating on your behalf will give you an advantage in any deal, whether you’re looking for a new lease, renegotiating an existing lease, expanding your dental practice space or buying an entire building. In this episode of The Art of Dental Finance and Management, Art visits with experienced commercial real estate agent Brian Mills of ROAM Commercial Realty. Brian and...
2020-12-091h 05Art of Dental Finance and ManagementHow to Invest During a Pandemic and Post-Election ClimateDespite the tumultuous economy and market fluctuation throughout the COVID-19 pandemic, dentists should continue to strategically save money and diversify their investment options. This is especially true for those dentists in their prime earning years where they can withstand more risk, outpace inflation and experience long-term investment growth. In this episode of The Art of Dental Finance and Management podcast, Artspeaks with James Davenport, MBA, Managing Director of Beacon Pointe Wealth Advisors. Art and James discuss what we’ve been seeing in the markets, how the pandemic and change in administration will likely affect them and predictions on possible sectors that may pe...
2020-12-021h 08Art of Dental Finance and ManagementEverything Dentists Need to Know About Financial PlanningDentists, like other professionals, should develop a solid financial plan to build wealth and prepare for retirement. Planning for financial independence while building their dental practice is an issue that concerns dentists at all stages of their career, whether they’re just starting out, growing to multiple locations, or preparing to sell their practice in preparation for retirement. Developing a financial plan with the guidance of a team of professional advisors helps them meet their unique current and future goals and will continue to evolve throughout the various life stages. In this episode of The Art of Den...
2020-11-251h 07Art of Dental Finance and ManagementPost-Election: What New Potential Legislation Could Mean for DentistsTaxation is one of the most complex issues businesses face, including dentists. This is especially true for mid-sized business owners who are not always well-represented before Congress. Art speaks with Eide Bailly Director of Legislative Affairs Mel Schwarz, JD, CPA, in this episode of The Art of Dental Finance and Management podcast. In his unique role based in Washington, D.C., Mel spends his time working with members of Congress, as well as influential individuals at the Treasury and IRS regarding new and pending tax legislation. He is dedicated to keeping business owners informed on legislation updates that could affect owners...
2020-11-181h 02Art of Dental Finance and ManagementHow the American Dental Association Advocates for Dentists Through the Pandemic and BeyondAs we celebrate our 100th episode of The Art of Dental Finance and Management podcast, Art welcomes Dr. Kathleen O’Loughlin, Executive Director of the American Dental Association (ADA). For 160 years, the ADA has been focused on empowering dentists in their practice, advancing the oral health of their patients, as well as supporting overall public health. Throughout the COVID-19 pandemic, Dr. O’Loughlin and her team advocated on behalf of dentists across the nation who fought to receive PPE, and to be deemed essential. They also looked to the ADA to make sense of and apply for the various relief funding, as...
2020-11-111h 01Art of Dental Finance and ManagementHow Dentists Can Remain Compliant with Relief Funding and Increase Dental Practice ProfitabilityThis week’s episode of The Art of Dental Finance and Management podcast focuses on COVID-19 related relief programs dentists can take advantage of, as well as tips and key business metrics to operate a more profitable practice. On October 28, the U.S. Department of Health & Human Services (HHS) released new updates to the HHS Provider Relief Fund FAQs that added removed and modified guidance. Art reviews these updates as well as provides additional helpful dental practice finance and management guidance, including: • Updates on filing for Paycheck Protection Program (PPP) loan forgiveness • Phase 3 funding for the HHS Provider Relief Fund • Ho...
2020-11-041h 12Art of Dental Finance and ManagementGrowing Your Dental Practice to Multiple Locations: Tips for SuccessMany entrepreneurial dentists aspire to expand to multiple locations to continue growing their practice. However, for dentists to own multiple group dental practices, it’s crucial to understand how to build the infrastructure to make it successful. In this episode of The Art of Dental Finance and Management podcast, Art speaks with Diwakar Sinha, Chief Development Officer at Tusk Partners, a leading dental M&A advisory firm, that helps dentists accomplish practice growth through group dental practices and dental service organizations (DSOs). Whether you’re just starting out, continuing to grow, or looking to sell, there are key areas to focus on: ...
2020-10-2857 minArt of Dental Finance and ManagementTop Dental Metrics to Maximize Practice ProfitabilityDentists may have hidden profits in their practice that they’re not earning due to lack of information. There are many dental metrics software tools that allow dental teams to collect key information. However, the trick comes in how it’s captured and reviewed, and how to take actionable steps. In this episode of The Art of Dental Finance and Management podcast, Art outlines some of the top dental metrics to focus on including: · Re-appointment percentage · Pre-appointment percentage · Attrition rate As a member of Eide Bailly’s Dental Segment, Art is an experienced dental-specific CPA and practice consultant with over 36 years in the profession. Art h...
2020-10-211h 08Art of Dental Finance and ManagementHow to Develop an Exit and Transition Plan for Your Dental PracticeDentists, like any other business owner, should strategically plan for exit well in advance of their anticipated practice sale date. Following the steps outlined by our podcast guest and business transition coach, Larry O’Toole, will help accomplish an optimal outcome when you’re ready to sell your dental practice. Preparing your practice exit and transition plan now will assure that you provide tremendous value for the buyer, command greater profit for yourself, as well as ensuring a ‘euphoric’ experience throughout the transition process. In this episode of The Art of Dental Finance and Management podcast, Art and Larry discuss how dentists...
2020-10-141h 01Art of Dental Finance and ManagementWhat Dentists Need to Know About the Updates to the HHS Provider Relief Reporting RequirementsWith 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 updates dentists about the new HHS Provider Relief Fund reporting requirements. In addition, there may be other potential changes coming in the PPP program, as well as a proposal for a second round of PPP loans. Eide Bailly will continue to monitor changes in government prog...
2020-09-301h 06Art of Dental Finance and ManagementThe 5 Functions in Your Dental Practice That Should Be Automated (But Probably Aren’t)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 in your practice that should be automated, but likely are not: 1. Appointment scheduling 2. Routing slips 3. Payment processing 4. Patient forms 5. Imaging Have a question about your dental practice? Reach out to Art awiederman@eidebailly.com or 657.279.3243. More information about the Ei...
2020-09-2352 minArt of Dental Finance and ManagementLearn How Dentists Can Save Thousands of Dollars with Research and Development Tax CreditsDentists can take advantage of the research and development tax credit (R&D) that other industries have benefitted from for years. These R&D tax credits can amount to dollar-for-dollar savings on federal (and possibly state) income tax, in addition to the deduction of your research and development costs. The R&D tax credit has the potential to give dentists substantial tax-savings and strengthen their financial health, in addition to developing innovative new ways to practice dentistry. Art speaks in depth about the research and development tax credit for dentists with Joe Stoddard, CPA and Heidi Lanin, JD from th...
2020-09-1658 minArt of Dental Finance and ManagementFire Up Your Dental Practice and Increase ProfitabilityAs 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. In this episode of The Art of Dental Finance and Management podcast, Art speaks with Kiera Dent from the dental consulting company, The Dental A Team. Their team helps dentists across the country practice dentistry implementing their s...
2020-09-091h 06Art of Dental Finance and ManagementIncome Tax Planning Guidance for Dentists in a Pandemic YearAs 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 preparation top-of-mind, especially this year. Properly tracking and documenting expenditures is paramount. In this episode of The Art of Dental Finance and Management podcast, Artmeets with colleague, Scott Haberman, CPA. Scott is a Partner on the Eide Bailly Dental Services team, helping dentists navigate the o...
2020-09-021h 06Art of Dental Finance and ManagementFind Profit Holes in your Dental Practice Using Dentrix Ascend Practice Management SoftwareIt’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 locations. This is also extremely valuable for patients as they spend less time in the office waiting in the reception area as well as handling clipboards, paper and pens. In this episode of The Art of Dental Finance and Ma...
2020-08-2655 minArt of Dental Finance and ManagementAttract New Patients to Your Dental Practice with Online ReviewsWhen 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. In today's episode of The Art of Dental Finance and Management, Art visits with Dr. Len Tau, a practicing dentist in Philadelphia, and an expert in online reviews. Dr. Tau helps dentists build their practices by sec...
2020-08-191h 03Art of Dental Finance and ManagementTales from The Industry - How This Dentist Maintained Profitability After ReopeningAs 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 COVID-19 pandemic and how he led his team through it, as well as the steps he took for reopening safely. He also covers how he strategically spent additional dollars to invest in extra equipment, safety measures and...
2020-08-121h 06Art of Dental Finance and ManagementHow Reopening Can Affect Your Dental Hygiene ScheduleIn 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 significant drop in their hygiene schedules in the last quarter of 2020. This fallout could cause more problems for office profitability and JoAnne shares tips on how to rectify this by taking decisive action for your dental office now. JoAnne and Ar...
2020-08-0554 minArt of Dental Finance and ManagementHow to Transition Your Dental Practice During COVID-19During 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 attorney, Dr. Lee Maddox of Maddox Healthcare Law. Dr. Maddox has over 30 years of experience as both a dental attorney and a dental broker and he ran Henry Schein's brokerage operation for over five years. In this episode...
2020-07-291h 06Art of Dental Finance and ManagementHow Dentists Can Benefit From Government Stimulus and Additional ConsiderationsIn 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 the dental team can provide as part of this merger, visit www.eidebailly.com/dentist. Topics covered in this episode include: • As we get close to a second stimulus package, which has potentially several income tax friend...
2020-07-221h 04Art of Dental Finance and ManagementHHS Provider Relief Fund Now Open to DentistsOn 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 information as soon as possible, as applications must be made on or before July 24. In the latter part of the episode, Art reviews: • PPP updates • Tax planning opportunities for 2020 • His outlook on a possible...
2020-07-151h 04Art of Dental Finance and ManagementMarketing Your Dental Practice During COVID-19 with Dental CMO Kristie BoltzIn 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 marketing to do now as dental offices open again • How much time and money a dentist should spend on marketing • Appropriate ROI on a dentist's marketing dollar • Why, now more than ever, it is important to assess what you are...
2020-06-241h 04Art of Dental Finance and ManagementWhy the Paycheck Protection Flexibility Act Makes PPP Loan Forgiveness Much EasierOn 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 • EIDL loan provisions and why you should be cautious While the laws have been relaxed significantly and forgiveness is easier, there is still work to be done. Art outlines steps dentists should take to obtain maximum forgiveness and gives tips on how they...
2020-06-101h 09Art of Dental Finance and ManagementUpdate on PPP Rules and Congressional Law Changes in ProcessAs 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: • New guidance from the SBA on loan forgiveness for PPP loans • House bill that passed in late May • Pending Senate legislation • Cash flow planning for the next six months This is an invaluable episode for dentists as th...
2020-06-031h 09Art of Dental Finance and ManagementHow to Obtain Maximum PPP Loan ForgivenessIn 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: • Economic Injury Disaster Loans (EIDL) • Whether small business owners who have liquidity, or access to capital, can accept PPP loans • The three calculations that can potentially reduce forgiveness of the loan There is a lot for dentists to consi...
2020-05-201h 08Art of Dental Finance and ManagementLegal Issues in Re-Opening Your Dental Office with Attorney Ali Oromchian Ali Oromchian, Attorney-at-LawArt 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 • Employee concerns about coming back onto payroll while out on unemployment • Changing employee hours when reopening the office • Legal documents you must be prepared to have in these situations • Legal issues to consider This episode includes important topics during this ch...
2020-05-131h 09Art of Dental Finance and ManagementAre Your Losses from COVID-19 Covered Under Your Business Interruption Insurance Policy? with Attorney Randy CurryAttorney 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 companies to cover situations such as COVID-19 • What actions dentists should take to potentially receive financial benefit from these policies Art also provides updates on: • Recent SBA Interim Guidance on calculating the PPP loan • Insight regarding bringing the dental team back early • New grant program from Facebook • New CDT code...
2020-04-291h 15
The Thriving Dentist ShowKeys to Financial Independence with Art Wiederman CPAIn this week's Thriving Dentist Show, Gary interviews his friend Art Wiederman on how to achieve financial success. They discuss in detail the best debt retirement strategies, the benefits of working with an Academy of Dental CPA Firm (ADCPA). Tune in to this insightful episode to learn about the most common financial mistakes that Dentists make and how to avoid them. You deserve to be able to go to work because you want to, not because you have to. The wisdom and experience shared in this podcast episode will help you get there!
2019-03-271h 05