Dentist Money™: How to Keep OSHA Off Your Back
Think of it as preventative care for your practice. It may not seem urgent, and it’s definitely not convenient, but staying proactive with OSHA compliance can save you time, money, and headaches in the long run. In this Yankee Dental edition of Dentist Money™, Reese Harper, CFP® welcomes Lee Slaton, Vice President of the healthcare division at Smart Training, which has helped over 14,000 dentists adhere to OSHA regulations. In this interview, Lee shares a few OSHA horror stories and covers some of the most common misconceptions dentists have about OSHA compliance. He also provides some helpful tips that could save you thousands of dollars by staying on OSHA’s good side.
Dentist Money™: The Good, the Bad and the Ugly of Finance in Dentistry
Released: 5.30.17 Should I buy an existing practice or start a new one? Should I lease or purchase my office space? What location will give me the best shot? The questions start piling up the second you decide to own a practice. And they just keep coming: When is the right time to hire an associate? Which consultant will help me the most? Am I properly insured? In this Yankee Dental edition of Dentist Money™, Reese Harper, CFP® welcomes Kathy Ells, Vice President of the Healthcare Practice Solutions Group at TD Bank. Kathy shares the good, the bad and the ugly of financial decisions she’s observed in her 25 years of working with dentists. She also explains the financial priorities dentists should be aware of at each phase of their careers.
Dentist Money™: The Key to Controlling Your #1 Expense
Released 5.9.17: Think about the cost of hiring the wrong person. You forked out time and money for the job posting, interview process, training, salary, and benefits. The person didn’t pan out and now your unemployment insurance just went up. So what can you do to improve your chances the next go around? In this Yankee Dental edition of Dentist Money™, Reese Harper, CFP® welcomes Pete Cargill, CEO of DentReps, who explains how dentists can keep staff costs to a minimum by hiring the right people from the beginning. He describes how involved practice owners should be in the process, free job board and networking tools to leverage, and the people in your existing network who can help you connect with the right candidates.
Dentist Money™: When is it Time to Hire a Collections Agency?
Released 4.18.17: A hundred years ago you might have hired Bruno & Knuckles to collect your past due receivables. But busting kneecaps is frowned upon in today’s heavily regulated collections industry. Plus, it’s not the best way to earn repeat business. So how do you get your money without burning bridges? In this Yankee Dental Congress edition of the Dentist Money™ Show, Reese Harper, CFP® welcomes Bryan Campbell of IC System — an account recovery service which has partnered with dentists for over 75 years. Topics include the most common reasons for overdue payments, how to approach the collections process in a fair and tactful way, when it’s time to hire a collections agency, and how fees are generally structured.
Dentist Money™: The Biggest Driver of New Patients
Released 3.28.17: Have you ever Googled your own name or the name of your practice? Your website isn’t the only place patients learn about you. In fact, in a lot of cases, your website won’t even show up at the top of the search results page. Like it or not, third party sites like Healthgrades.com, Vitals.com, Yelp, and Facebook have a huge influence over prospective patients. So what can you do about it? In this Yankee Dental Congress edition of the Dentist Money™ Show, Reese Harper, CFP® welcomes Jose Espinoza from Doctor.com who explains how dentists can gain control of their online reputations by creating a master profile that pushes information to all the sites that matter. He also offers solutions for boosting your online reviews and shares some of the most common mistakes dentists make when it comes to marketing.
Dentist Money™: How to Keep Overhead from Bringing You Down
Released 3.14.16: Dentistry is what you do, and money is what you make. But unless you keep an eye on overhead, just making ends meet might be hard enough. In this Yankee Dental Congress edition of the Dentist Money™ Show, Reese Harper welcomes CPA, Andrew Schwartz who works with hundreds of dentists around New England and understands the science of overhead distribution. He explains how much dentists should spend on staff, when you know your margins are too low, and common themes he’s observed among practices who experience large growth.
Dentist Money™: How to Avoid Bad Loans
You’re a dentist and you need loans. Nothing wrong with leveraging debt to accelerate your growth. But do you know all the critical questions to ask before getting locked into a bad loan? In this Yankee Dental Congress edition of Dentist Money™, Reese Harper, CFP® welcomes Bank of America’s national sales manager, Bill Murray, who highlights the biggest mistakes dentists make when choosing loan products. He talks about the factors—beyond interest rate—that should drive your decisions and shares a few stories of doctors who made bad deals with banks. He also shares thoughts on choosing the right practice to buy, and how to get the most bang for your practice space buck.
Dentist Money™: How Quickly Should You Pay Off Your Loans?
How much cash should you keep in your business? Should you invest your money or pay off your loans? When are you ready for a second location? At what point should you start saving for retirement? Which retirement plan should you select? In this Yankee Dental edition of Dentist Money™, Mark Rosen, CPA, CFP® sits down with Reese to answer some of the most common and challenging financial questions faced by dentists. His firm advises over 800 practices and his counsel for young, middle aged, and not-so-young dentists is based on nearly twenty years of experience.
Dentist Money™: 4 Common Threats to Your Patient Data
Is your patient data protected with the right technology? Are emails between you and your patients properly encrypted? In this Yankee Dental edition of Dentist Money™, Reese Harper, CFP® welcomes Jimmy Georgiou, founder of SolutionStart which helps dentists avoid data breaches (and HIPAA penalties) with the right technology. Jimmy explains common mistakes dentists make that put their data at risk, and best practices when it comes to email correspondence and data storage.
Dentist Money™: 5 Common Real Estate Mistakes Dentists Make
Real estate is a dentist’s second highest expense and easily one of the biggest danger zones for squandering a fortune. All too often, dentists walk away from lease or purchase negotiations thinking they scored a deal, when in reality they left hundreds of thousands on the table. In this Yankee Dental edition of the Dentist Money™ Show, Reese welcomes Dan Van Eps, 16-year dental industry veteran and Chief Brokerage Officer for Carr Healthcare Realty, who explains the considerations dentists often overlook when committing to a practice location. He offers advice for avoiding conflicts of interest, describes what it means to have proper representation, and lists the most important questions to ask before entering your next real estate agreement.
Dentist Money™: Escaping the Bonds of Student Debt
Have you explored all your options for student loan repayment? Are you sure you’ve found the best loan with the best terms? In this Yankee Dental edition of Dentist Money™, Reese Harper, CFP®, welcomes Dave Carter, Director of Business Development at CommonBond, which provides straightforward lending solutions for students from hundreds of graduate programs across the U.S. In this interview, Dave addresses common questions asked by new graduates and explains how private lending companies can reduce costs and speed up the process of paying off student debt.