Practice Management | Industry Trends

Member Survey Reveals Practice Profits Rising

Our member survey revealed that practices across the country reported higher profitability in nearly every segment of dentistry for 2021 compared to 2019 (pre-pandemic). How does your practice stack up?

Practice Management | Building/Facility

Act Now For Office Lease Savings

High vacancy rates, lower rents, and increasing pressure from lenders are creating a tremendous opportunity to realize substantial savings with your office lease, but this perfect storm won’t last forever! Here’s how you can take advantage.

Tax | Individual

Two Strategies To Make The Most From The Proposed Retirement Savings Rules

The #1 goal of retirement planning is to ensure that your money lasts longer than you do, but what’s the optimal strategy to tap your assets while reducing your tax burden?

Transitions | Buying/Selling and Mergers

What’s Your Equity In A DSO Really Worth?

DSOs often tout the value of equity in their stock as part of their offer, often misrepresenting the actual “bottom line” of the deal. How do you decipher a DSO’s offer? Our experts explain.

Investments | Stocks, Bonds, Mutual Funds

Consider I-Bonds For Inflation Protection

With inflation escalating to a 40-year high, doctors are looking for investments to keep pace. Little-known inflation-adjusted U.S. Savings Bonds are now offering enticingly high rates, due to the recent surge in prices. Don’t miss out on this investment “no-brainer”!

Transitions | Partnerships

Make Sure Your Associate Passes These Tests Before Offering Partnership

Hiring a young associate shouldn’t commit you to making him or her your future partner. Since selecting the wrong partner can make your life significantly worse, you should be extremely careful when making this significant decision. Use these 3 three criteria to determine if an associate will be a “good partner” before offering them shareholder status.

Practice Management | General/Other

How To Create An Effective Disaster Survival Plan For Your Practice

What would happen to your practice in the event of a natural disaster? A lack of preparedness could have catastrophic consequences. Follow these 10 steps to make certain your practice can make a hasty recovery and minimize potential losses.

Practice Management | General/Other

How To Protect Your Practice From Payment Fraud (Online-Only)

Payment fraud continues to rise, and the costs keep escalating. Due to advances in hacking technology, it’s easier than ever for fraudsters to remove money from your practice’s bank accounts. Here are 4 ways to protect your practice.

Marketing | New Patients/Treatment Acceptance

How To Increase Treatment Acceptance As Spending Slows

Surging inflation and the recent stock market decline have made patients more cautious with their spending. Use these 4 tips to communicate their treatment needs and prove your competitive advantage.

Tax | Individual

Maximize Tax-Free HSA Reimbursements Using These Creative Medical Expenses

Are you missing out on these 10 creative medical deductions that can produce tax-free cash?

Practice Management | Personnel

The Benefits Of Caring About Your Employees’ Well-Being

Recruiting and retaining highly qualified employees is likely your top priority. But did you know making sure your employees feel your care and concern for their personal well-being often matters as much to them as increased pay and benefits? Here are 7 ways you can show you care, helping your practice retain star performers and boost your profitability.

Tax | Practice/Corporation

Don’t Overlook The Employee Retention Credit For 2021

Do you qualify for the Employee Retention Credit for 2021? If so, find out how you can claim this credit before it disappears!

Insurance | Long Term Care

Should You Buy Long-Term Care Insurance?

With life expectancy increasing and health care costs rapidly rising, long-term care insurance certainly has an emotional appeal. However, these policies have some serious drawbacks that outweigh their benefits. Read on to find out why should you avoid these policies and self-insure instead.

Personal Finances | Estate Planning

What To Do If You’re Named Executor Of An Estate

If you agree to take on the formidable responsibility of being the executor of an estate, follow these 6 strategies to reduce your risk of legal liability.

Personal Finances | Debt Management

Biden Mulls Further Student Loan Relief

Could further student loan forgiveness be in sight? Signs indicate that may be the case.

Marketing | New Patients/Treatment Acceptance

Build Your Practice By Educating Your Patients On How You Can Improve Their Heart Health (Online-Only Article)

Most of your patients probably don’t realize their dental health is directly related to their overall health, which can hurt them and result in lower treatment acceptance rates. But properly educating them can boost your practice profitability and, more importantly, your patients’ health.

Practice Management | Personnel

Top Strategies To Deal With The Staffing Crisis

The biggest challenge facing most dental practices is attracting and retaining employees. Unfortunately, current statistics and demographic factors indicate this problem isn’t going away anytime soon.

Practice Management | Personnel

How Improved Training Can Reduce Turnover And Increase Your Bottom Line

COVID-19 has brought about a massive increase in team turnover, and most resignations are from women, 30-45-year-olds, and those in healthcare, all of which directly impact the dental profession. Use these 3 strategies to increase your employee engagement and reduce employee churn.

Insurance | Life, Disability, Business Overhead

After COVID-19: 10 Strategies To Get The Life, Disability, And Business Overhead Insurance Coverages You Need For Less

Record-high payouts from COVID-19 have sparked double digit increases in life, disability, and business overhead premiums. Here’s how you can obtain the coverages you need to protect your family, while saving thousands of dollars in unnecessary premium costs.

Practice Management | Personnel

Are You Ready For Increased Employment Audits?

Dramatic changes are in flux regarding employment laws and related enforcement, including the adoption of stricter rules for workers classified as independent contractors. Here’s how to prepare for tougher new rules and increased audits ahead.

Practice Management | General/Other

Protecting Your Data From Cyber Criminals

Cybersecurity threats are at an all-time high, and your dental practice falls into two groups especially vulnerable to cybercrime: healthcare and small businesses. What can you do to reduce the risk for your practice?

Practice Management | Building/Facility

Need A New Office? Consider Vacant Retail Space

The pandemic and the dramatic increase in e-commerce has damaged sales at brick-and-mortar stores, creating tremendous vacancies in the retail space sector. As a result, aggressive landlords are offering steep rent discounts and generous concessions to attract new tenants, so consider these high-traffic, convenient retail spaces for your next office or satellite location.

Investments | General/Other

How To Protect Your Family’s Wealth When You Can’t (Online-Only Article)

While you may do a good job managing your investments now, what happens if you die, become disabled, or your skills erode with age? This can leave your family vulnerable to potential losses that could be substantial. As you approach retirement, you need a plan for "Who will handle your family’s investments when you can’t?"

Practice Management | Industry Trends

Consumerism: A Practice Trend That’s Here To Stay

Consumerism is defined as meeting your patients at their point of need or desire. In today’s economy, it’s characterized by companies that offer convenience, access, and decentralization by providing customers with what they want, when they want it. Here’s how your practice can compete.

Personal Finances | Budgeting, Spending, Saving

Six Habits Of Millionaire Doctors

What characteristics separate the most financially successful doctors from all others? Did they inherit great wealth, or is their success based on their specialty, location, or just blind luck? Based on our 40 years of experience, we’ve narrowed down the top 6 habits that make millionaire doctors elite.

Personal Finances | General/Other

Overcoming Money Mistakes That Can Wreck Your Marriage

Money is the top issue couples fight about, and financial problems are the second leading cause of divorce. Here’s how you can avoid the 6 most common financial mistakes couples make so you can continue to enjoy a happy and financially successful marriage.

Tax | Audits

How To Audit-Proof Your Charitable Contribution Tax Deductions

If you believe that a cancelled check, credit card receipt, or other proof of payment is all you need to qualify for a charitable contribution income tax deduction, you’d be wrong! Find out how you can protect your charitable contribution from the IRS.

Practice Management | General/Other

How To Properly Compensate Partners For Management Duties

Many business and economic factors are pushing more doctors out of solo practice and into groups, but this creates more practice management complexity for the doctors involved. Here are our tips for compensating partners for their management duties, especially when they’re unequally distributed.

Investments | Real Estate

The Top Six Tax Benefits Of Real Estate Investing

Many doctors understand the significant practice and economic benefits of owning their office building and other types of real estate. Yet, most doctors don’t fully understand the significant tax benefits available.

Practice Management | Financing

Provider Relief Fund Reporting Now Due (Online-Only Article)

If you received Provider Relief Fund (PRF) payments, you must spend them to cover approved expenses or lost revenue and properly report them. Otherwise, you may have to return part, or all, of the funds received back to the government.

Practice Management | Industry Trends

How Will Future Dental Consolidation Affect Your Practice?

How has consolidation changed dentistry and what does it mean for your practice’s future success?

Investments | Investment Outlook

Investment Outlook For 2022: Stocks Can Seemingly Do No Wrong

As stocks close out another strong year, what should investors be focused on as 2022 begins?

Tax | Individual

6 Steps To Jumpstart Your 2022 Financial Success

Start your new year off right by making smart financial moves now. Here are six steps to take immediately that will add hundreds of thousands of dollars to your retirement savings.

Transitions | Buying/Selling and Mergers

Negotiating With DSOs: Why Their First Offer Is Never Their Best Offer

Many doctors contacted by DSOs don't understand their practice’s true earning capacity and related enterprise value. As a result, they routinely leave millions of dollars on the table by selling too low. Avoid accepting a lowball offer and look out for these critical details when selling your practice.

Personal Finances | Debt Management

Student Loan Repayment Holiday Extended

President Biden has extended the pause on student loan payments for another 90 days.

Personal Finances | Estate Planning

Key Strategies To Protect Your Assets

You’ve spent your entire career building your family’s wealth, but unless you’ve implemented these 10 strategies, you’re vulnerable to the claims of potential creditors.

Practice Management | Personnel - Compensation

Change Your Employee Pay Strategy For 2022 (Online-Only Article)

Attracting and retaining quality team members is the top concern for most practices these days. With inflation rising, and job resignations at an all-time high, you’ll need to change your compensation strategy for 2022.

Investments | Tax Strategies

Use Tax-Loss Harvesting To Cut Your Taxes And Improve Returns

Doctors looking to cut their taxes and offset capital gains can utilize tax-loss harvesting before year-end by selling stocks and other assets that have declined in value. But how does this strategy also boost your investment returns?