The Dental Wealth Nation Show with Tim McNeely

🎙️ Welcome to The Dental Wealth Nation Show with Chad Widensky! In this episode, we dive into "How to Provide Impeccable Service While Maintaining Your Bottom Line." 🦷💰

Join our host, Tim McNeely, as he sits down with Chad Widensky, a financial expert and founder of a leading dental finance company. Discover the secrets to finding great lenders and underwriters in the dental industry and how they can help you navigate the process of buying or expanding your dental practice. 💼

Chad emphasizes the importance of working with industry-focused professionals who have access to a network of contractors, attorneys, and other necessary individuals. 🤝💼

Explore a holistic approach to banking, including mortgage options and other services that can evolve with your personal needs as your net worth increases. 💼💰

🔍 Dive into the world of dental banking and learn about high-yield savings accounts, credit card processing, and the exclusive Provide Card that offers cashback rewards for your supply and lab purchases.

Discover the crucial factors to consider when applying for loans and mortgages, such as understanding the loan terms, the speed of communication with underwriters, and the importance of timing to seize financial opportunities. 💸💼

Learn from success stories of doctors who have partnered with the right lenders, allowing them to expand their practices, own multiple offices, and focus on the business side of dentistry. 🎯📈

🔎 Stay ahead of the curve in the evolving dental industry by tapping into the expertise of industry veterans, finding the best reps and consultants, and ensuring you get the right fees. 

Whether you're a dental practice owner, looking to start your own practice, or interested in the business side of dentistry, this episode provides valuable insights and resources to help you achieve your practice ownership goals. 🎧🏢

Tune in now to The Dental Wealth Nation Show and tap into the wealth of knowledge and resources to take your dental practice to new heights! 🎙️✨

Questions:

1. How important is it for dentists to work with lenders and underwriters who have experience in the dental industry?
2. What are the benefits of working with a lender who can provide access to a network of industry professionals such as dental attorneys and experienced brokers?
3. How can working with a banking partner who understands the time constraints of doctors improve the process of buying a practice or starting/expanding a dental office?
4. In what ways can a comprehensive banking package, including mortgage options and other services, benefit dentists as their net worth increases and their personal needs evolve?
5. What factors should dentists consider when choosing a lender or banking partner for their practice, beyond just the terms of the loan itself?
6. How can credit cards with specific benefits for certain professions, such as the Provide Card mentioned in the episode, help lower expenses and increase savings for dental professionals?
7. What questions should dentists ask lenders regarding the application process, required documentation, and the speed of communication with the underwriter?
8. How does the efficiency of closing loans impact the financial opportunities and income potential for dentists?
9. What role does networking and recommendations from other doctors play in the decision-making process when choosing a lender or banking partner?
10. How can working with a banking partner who offers additional services, such as assistance with insurance, finding consultants, and ensuring proper fees, contribute to the success and enjoyment of practice ownership for dentists?

Welcome to The Dental Wealth Nation Show, where we delve into the world of dental practices, referral partnerships, and effective networking strategies on LinkedIn. Join our host, Tim McNeely, as he sits down with Tracy Enos, an expert in leveraging LinkedIn profiles to attract ideal referral partners.

In this episode, Tracy Enos uncovers the secrets to creating a compelling LinkedIn profile that captivates your audience and maximizes opportunities. Discover the power of the acronym "GREAT" - Human, Volunteer work, Organizations, Honors, Licenses, Skills, and Projects - as Tracy guides you through each section to help you stand out from the crowd.

With valuable insights, Tracy dispels the myth that people overlook these additional sections of a profile, sharing that 70% of profile viewers are genuinely interested in getting to know the person behind the profile. Explore how the LinkedIn inbox and outreach mirror traditional networking, as Tracy reveals the changing landscape of LinkedIn from a formal platform to a more casual and engaging space.

Learn practical techniques for making connections feel comfortable without relentlessly self-promoting. Discover the importance of pattern interrupts and tailored questions to initiate meaningful conversations. Uncover the true desires of LinkedIn users who value authentic interactions over direct sales pitches.

Unlock the potential of LinkedIn as we discuss building a referral network, creating engaging content, and establishing authority through your profile. Tracy emphasizes the significance of consistently posting engaging content and involving your office in sharing from the company page. Dive into strategies for showcasing your company culture, highlighting employees and customers, and ensuring your posts reflect your expertise.

Throughout the episode, Tracy Enos provides impactful insights on building trust, optimizing your LinkedIn profile, and leveraging the platform's features like LinkedIn Lives and events. Discover the benefits of connecting with referral partners, reaching out to local networking groups, and effectively utilizing LinkedIn's Advanced Strategies.

If you're a dental practice looking to attract more patients through referral partners, this episode of The Dental Wealth Nation Show is a must-listen. Tracy's expert guidance and actionable advice will help you transform your LinkedIn profile into a powerful tool for success.

Questions

1. How can filling out your personal profile on LinkedIn help maximize opportunities for your dental practice?
2. How important is it to showcase different sections of your profile, such as volunteer work, organizations supported, and licenses?
3. Do you agree with the speaker's assertion that 70% of profile viewers are interested in getting to know the person behind the profile? Why or why not?
4. How can you make connections feel comfortable on LinkedIn without forcefully promoting yourself?
5. What are some effective pattern interrupts you can use to stand out from other LinkedIn users?
6. How can researching a person's profile, website, or social media platforms help you initiate a targeted conversation on LinkedIn?
7. What are some strategies for creating engaging content on LinkedIn to attract potential referral partners?
8. How can you establish authority in your LinkedIn profile, and why is this important for attracting referral partners?
9. How can you use the interest section on LinkedIn to organically show up in search results and attract potential referral partners?
10. Why is it crucial to provide great care and results to clients, friends, or customers referred by others on LinkedIn?

🎙️ Welcome to another insightful episode of The Dental Wealth Nation Show, where we explore the intriguing realm of Dental Mergers and Acquisitions (M&A). In this episode, we're joined by Kevin Cumbus, President of Tusk Partners, a veteran dental broker with over a decade of experience navigating the dental industry.

Kevin imparts his wisdom on the progression of dental practice values, the catalysts propelling these increasing values, and the significance of discerning the optimal time to sell your dental enterprise. He also offers indispensable advice on selecting the right partner, structuring the deal for maximum gain, and how to sidestep being exploited by Dental Service Organizations (DSOs).

With the presence of over 150 PE-backed DSOs in the nation and counting, Kevin's insights are vital for anyone contemplating selling their practice or strategizing for retirement. Don't miss this chance to learn from an industry authority and potentially attain financial independence through the sale of your practice.

For further information, visit Tusk Partners at www.TUSK-partners.com or contact them at (704) 302-1043. Join us for this enlightening conversation, and stay tuned for more episodes of The Dental Wealth Nation Show! 🦷💰🎧

Welcome to Dental Wealth Nation, your trusted guide to achieving financial success and delivering exceptional patient care in the dental industry. In our latest episode, "Dental Insurance SOS," we're thrilled to feature Bri Richardson, a renowned dental insurance expert, who will help you navigate the often complex world of dental insurance.

Bri Richardson, with her wealth of experience in assisting doctors with insurance-related challenges, unravels the intricacies of dental insurance in this enlightening episode. She shares invaluable insights on accurately estimating copays, overcoming bureaucratic hurdles, and ensuring prompt payment within 30 days of treatment completion.

Many dentists find themselves grappling with outstanding insurance issues and struggle to handle these effectively. To address this, Bri introduces Dental Insurance SOS, an in-office team training and support system designed to empower your practice to tackle insurance obstacles proactively and prevent future issues.

A highlight of this episode is Bri's foolproof formula for out-of-network doctors to collect payments from insurance companies promptly. This secret could revolutionize the efficiency of your practice!

At Dental Wealth Nation, our mission is to equip you with practical strategies and hidden advice to maximize your net worth and provide the best care for your patients. Our host, Tim McNeely, and esteemed guests like Bri Richardson, offer guidance often undisclosed to most professionals. We encourage you to explore our website, dentalwealthnation.com, for more valuable resources and episodes.

If you're a driven dentist aspiring to build a life of significance while maximizing your net worth, this episode is a must-listen! Get ready to demystify dental insurance and elevate your practice to new heights.

Tune into "Dental Insurance SOS with Bri Richardson" on Dental Wealth Nation to gain access to Bri's proven formula and master insurance-related challenges. Don't forget to subscribe to our podcast for future episodes packed with hidden advice and strategies.

Join us on this journey to a more profitable and fulfilling dental career!

About Bri

Bri Richardson is an expert in the field of healthcare billing and insurance. With her extensive knowledge and experience, she has mastered the art of getting paid within 30 days of completing a treatment. One of her key strategies is accurately estimating co-pays, ensuring that patients and insurance providers are on the same page when it comes to payment expectations. Bri is also well-versed in navigating the complex world of insurance red tape. She guides her team in identifying potential restrictions and denials, such as frequency limitations or missing tooth clauses, to address them proactively during the initial stages of treatment. By doing so, Bri ensures a smoother and more efficient billing process, avoiding delays or issues that may arise later on. With her expertise, Bri helps healthcare professionals and patients alike streamline their payment processes and receive timely and accurate reimbursements.

Discussion Questions:

1. What are some common challenges dental offices face when it comes to insurance and collecting co-pays?
2. How can following a three-step process for collecting co-pays help dental offices avoid red tape?
3. What are some practical steps that dental offices can take to improve their insurance verification process?
4. How can proper preparation of claims positively impact a dental practice's bottom line?
5. What are some potential consequences of not getting a claim right the first time?
6. Why is it important to estimate co-pays accurately and how can this be achieved?
7. How can dental offices effectively deal with outstanding accounts receivable?
8. What are some key lessons learned from working remotely in the insurance industry?
9. Why is it crucial for dental offices to maintain strong IT support and security when working remotely?
10. How can dental practices address the issue of money remaining on the AR report instead of being received?
    

🎙️🦷 Welcome to The Dental Wealth Nation Show with Wesley Sierk! 🎉💼

In this episode, titled "You Can Make It, But Can You Keep It?", we dive deep into the world of dental insurance and wealth management for dental professionals. Join our knowledgeable host, Tim McNeely, and our esteemed guest, Wesley Sierk, as they share their insights and strategies to help you safeguard your hard-earned wealth 🏦✨💰

🔍 Discover how to navigate the complexities of insurance policies, including professional liability, business interruption, cyber liability, and more. Uncover the key factors that determine whether a company can be considered an insurance entity for tax purposes, and learn how to maximize your insurance coverage while minimizing gaps and exclusions. 💡✅📚

Explore innovative concepts like captive insurance and difference in conditions policies, and understand how they can transform your expenses into profit centers. Find out how to protect yourself from potential lawsuits, audits, and fines, and gain valuable insights on tax-saving strategies for dental practices in community property states. 🏥⚖️💼

Get inspired by success stories of dental professionals who have utilized captive insurance companies to fight legal battles, recover withheld payments, and protect their assets. 🏆🛡️

Whether you're a dental entrepreneur, a practice owner, or simply someone interested in the dental industry, this episode is packed with knowledge, tips, and actionable steps to help you secure your financial future. 📚💪💡

Tune in now to The Dental Wealth Nation Show and join the conversation that's reshaping dental insurance and wealth management! 🎧🌟💼🦷

🎧 Welcome to The Dental Wealth Nation Show with Tim McNeely! 🦷💰 In this episode, we dive into the age-old question: "Buy or Build, which is right for you?" with our guest, Michael Dinsio, a dental expert with a wealth of experience in the industry. 🏢🔍

👥 Are you a dentist considering practice ownership? 🤔💼 Then this episode is a must-listen! Michael discusses the pros and cons of starting a new business (startup) or acquiring an existing practice, providing valuable insights to help you make an informed decision. 💡💼

💵💪 Whether you're an aspiring entrepreneur or looking for a safer option with an established foundation, Michael shares his expertise on the financial aspects, the importance of leadership skills, and the key factors to consider before making your move. 📈💼

📆🔍 Plus, we dive into the impact of the challenging year 2020 and how it shouldn't be factored into practice valuations. 📉💰 Michael also shares lessons from his own journey, including a memorable encounter with basketball superstar LeBron James in high school! 🏀😮

👂 Tune in to gain insights, tips, and inspiration to take your dental practice journey to the next level! 💪🎙️ Don't miss this exciting episode of The Dental Wealth Nation Show! 🔥🦷

You can connect with Michale at www.nxlevelconsultants.com or check out their podcast at www.dentaluncensored.com

🎙️ The Dental Wealth Nation Show: 🦷💰 Improve Your Practice's Financial Health with Membership Plans & Eli Salls! 💪

Looking to take your dental practice to the next level and boost your revenue? Join us on The Dental Wealth Nation Show as we dive into the missing piece of the puzzle for improving your practice's financial health – membership plans! 🏥💸

In this episode, we have the pleasure of hosting Eli Salls from Clear, who will guide us through the ins and outs of implementing successful membership plans. 💡✨ Eli shares valuable tips and strategies to revitalize your patient market, increase hygiene appointments, and enhance your practice's collection percentage. With the right membership plan and patient financing tools, you can significantly improve production and ROI. 💼💯

Discover how Kleer Intelligence, a cutting-edge software integration tool, simplifies payment posting, tracks growth metrics, and helps you reengage dormant patients. 🚀📈 Plus, learn the secret behind creating tailored plans that strengthen patient relationships and generate more revenue. With Eli's expertise, you'll gain the knowledge and support needed to navigate the world of membership plans with ease. 🤝🔍

Tune in to The Dental Wealth Nation Show and transform your practice's financial health today! 💪🎉💼 Don't miss this episode packed with insights, encouragement, and hope for a prosperous future in dentistry. 🌟

Click the link below to schedule a consultation with an account manager and start maximizing the potential of membership plans for your practice. 📅💡💰

https://go.lifestoneco.com/kleer

#DentalWealthNationShow #MembershipPlans #FinancialHealth #EliSalls #ClearIntelligence #DentalPodcast #PracticeManagement #RevenueBoost #DentistrySuccess #PatientCare #ROI

Description

🎙️ Looking to build a successful dental practice? Welcome to The Dental Wealth Nation Show! 🦷💼 

In this episode, join us as we discuss the simplified process to realize your vision with dental architecture expert, Mohsen Ghoreishi. 💡✨

Covering topics like budgeting, vision alignment, and the importance of a well-designed physical environment, this episode is packed with valuable insights for dental professionals. 🏢💸

Discover how to determine a realistic budget, differentiate between must-haves and nice-to-haves, and ensure your office reflects your unique identity and the patient experience you want to provide. 🎯👥

We also delve into the challenges faced by doctors in the dental industry, from building intimate client relationships to attracting top talent. 🤝🌟

Whether you're just starting out or looking to revamp your practice, join us on The Dental Wealth Nation Show as we explore the journey from dental dreams to lasting success. 🎉💼🦷

Key topics: dental practice, budgeting, vision alignment, dental architecture, physical environment, patient experience, dental industry challenges, building client relationships, attracting top talent, dental dreams, lasting success.

💡 Speaker bio

Mohsen Ghoreishi, a man deeply connected to his Persian heritage, is the embodiment of integrity and reliability. Inspired by the deep-rooted meaning of the word "Cohen" in Farsi, he chose this name for his firm as it represents his vision for the present and future. With a rich understanding of the ancient culture and traditions, Mohsen aims to create a lasting impact by providing meaningful and valuable services to his clients. He believes in the importance of upholding timeless values and ensuring that his work remains valid and impactful throughout the ages. Mohsen Ghoreishi is committed to making a lasting difference in his field, guided by his unwavering belief in the power of integrity and everlastingness.

🧞‍♂️ Discussion questions

1. What are some factors to consider when determining a realistic budget for a dental practice?
2. How can an architect help in creating a vision for the patient experience in a dental office?
3. Why is it important for a dentist to have a clear vision for their business?
4. Can you share an example of a client who didn't consider long-term implications when it came to their office size? What were the consequences?
5. What are the necessary professionals and advisors that a dentist should work with when starting a practice?
6. How can renovating a dental practice space, even without major changes, improve the overall environment?
7. What are the key issues to consider when buying an existing dental practice?
8. What factors should be taken into account when selecting an architect for a dental project?
9. How does having an attractive physical environment impact a dental practice in terms of attracting new patients and professionals?
10. How does a dentist's vision impact other aspects of their practice, such as cost and time?

🎞️ Clip finder: Quotes, hooks, and timestamps

The Joy of Dental Design: "Because it is new every time, it is joyful. And, the amount of care the doctors have on patient experience is amazing."
— Mohsen Ghoreishi [00:06:26 → 00:06:31]
The Importance of Architects in Dental Practice Design: "what an architect does, the architect, takes this suite, takes the shell, the space, or built the environment, and it's really vision where when you walk in, you can capture the patient experience without, without an architect, you can't do then everything becomes quite a bit of cookie cutter because everything is designed on a flat plane. You have to think be able to think three dimensionally. and of course, be if you're a talented architect, then you can put parts and pieces together where the look looks good, and it is the vision of the dentist or the provider. the vision is a big deal that the architect can bring to life."
— Mohsen Ghoreishi [00:09:17 → 00:10:00]
The Importance of Vision: "Vision is a big deal and it's important because it impacts other things. it impacts dollars. It impacts time. that's that's why vision is very important."
— Mohsen Ghoreishi [00:12:33 → 00:12:47]
The Importance of Having a Clear Vision: "vision has 2 parts. So one is you're starting to practice and what is it? How do you see yourself in 5, 10, 15 years from today?"
— Mohsen Ghoreishi [00:13:44 → 00:13:53]
Budgeting for a Dental Practice: "You don't have to build a Taj Mahal to have a beautiful office. You could really have a simple, beautiful building with a low budget, but you have to know what it takes to have that."
— Mohsen Ghoreishi [00:19:05 → 00:19:13]
Building Your Dental Practice: "Your dental architect becomes one of the most important people that you can talk to and to basically help you bring the team together."
— Mohsen Ghoreishi [00:27:19 → 00:27:28]
The Importance of a Unique Office: "Well, it only matters if the doctor is really it's important for doctor to have a office which portrays himself and talks about who the doctor is, what kind of services he what kind of patient experience he or she wants to give to their patients. If that is important to them, if they are, they want to be unique, then that should matter, and they need to look for that."
— Mohsen Ghoreishi [00:32:00 → 00:32:28]
Renovating Your Practice: "You could simply refresh, like you said, change the carpet, put a new coat of paint, maybe change couple of, you know, various different decorative lights, and bring a whole new life to the space."
— Mohsen Ghoreishi [00:42:54 → 00:43:06]
Choosing an Architect: "You may wanna talk to some of the clients they've had to see the process, to see if how was the process from the beginning to end and how the architect or an institution treated you and worked with you from the 0 to occupancy."
— Mohsen Ghoreishi [00:46:05 → 00:46:22]
The Importance of a Welcoming Physical Environment in Dental Practices: "If you have a state of the art technology, if you have a beautiful environment, you will attract some of the best dentists to come over and become your associates. Those are the ones that actually can eventually take over the practice."
— Mohsen Ghoreishi [00:51:12 → 00:51:23]

Welcome to The Dental Wealth Nation Show with Tim McNeely! In this episode, Tim is joined by Jason Schneller, the regional director of project loans at Provide, to unpack the intricacies of dental practice startup lending. 

This insightful discussion delves into the essential steps and resources required for dentists looking to acquire a practice. Jason emphasizes the need for meticulous research, understanding the available options, and the importance of seeking guidance from mentors and professionals, such as lenders, realtors, and consultants. 

Delving into the lending process, Jason elucidates how Provide uses a prequalification process involving soft credit inquiries and essential questions to gather information about a doctor's credit score, personal debts, liquidity, licensing, and production.

The episode spotlights the efficiency of Provide's streamlined online lending process, which delivers a loan approval typically within 7 business days for a startup. Jason further discusses how the lender collaborates closely with realtors to define a budget and find an appropriate space for the dental office, emphasizing the significance of speed in securing loan approvals to enable the timely commencement of practice operations.

Throughout the conversation, Jason addresses common roadblocks faced by dentists seeking ownership, dispelling misconceptions regarding loan requirements and collateral. He highlights the specialized lending options available in the dental industry, underscoring how specialized lenders cater specifically to healthcare professionals and can lend 100% of the construction and equipment costs without requiring personal collateral beyond the practice itself.

The episode also explores the changing landscape of starting a dental practice over the years and the importance of building a knowledgeable team to guide dentists in realizing their practice vision and brand, even before they have a space.
Listeners are encouraged to consider the statistical success of dental practices and the benefits of ownership, along with the importance of seeking specialized advice to maximize net worth and make a meaningful impact.

Join Tim McNeely and Jason Schneller in this engaging episode as they provide valuable insights into the dental practice startup lending process, ownership benefits, and the significance of teamwork within the dental industry.

Would you like to understand what coaching is and how it can be used effectively to unlock potential and maximize performance? Are you ready to learn how Mudasser Hussain was able to transition to being a part-time dentist and provide business exec coaching? Or even how to increase revenue, productivity, well-being, and your mental health? If so you won't want to miss "Coaching your way to Success with Mudasser Hussain"

Are you interested in building a complete marketing plan for your dental organization? Are you curious about avoiding failures in advertising, reducing risk, and wasting time while growing your practice?

If so, you won't want to miss this episode with Patrick Chavoustie of Omnipremier. Tune and you will learn how to lower your overall marketing costs without sacrificing new patient growth, how to get more referrals for your practice, and a one-page marketing plan along with a free one on one strategy session.

Would you like to know how to work more efficiently and productively? If so then tune in and learn from Gene St. Louis how you can Capture the Best of 2022!

🎙️ Welcome to The Dental Wealth Nation Show! In episode 0074, we have the amazing Curtis Marshall joining you host, Tim McNeely, to share insights on how to analyze everything, automate your day, find hidden revenue, and fill your schedule without losing your mind. 🦷💰💡

In this episode, Curtis Marshall dives into the challenges faced by dental professionals when it comes to obtaining patient information from practice management software. 📊 He also reveals a clever strategy, involving baking cookies and eliminating dental smells, that seemingly increased patient satisfaction for a month. 🍪👃

Curtis focuses on the power of data and benchmarks. While he offers to provide valuable benchmarks for free, he cautions against the pitfalls of comparing oneself to others. Instead, he encourages self-improvement and better patient care as powerful indicators of success. 💪💼
T
he episode delves into the evolving landscape of communication, from landlines to cell phones to texting, and explores the preferences of younger patients who value making their own decisions and scheduling appointments at their convenience. ⏰💬

Curtis emphasizes the importance of giving patients choices and options for their dental appointments, even discussing a software that provides second opinions based on patient images and previous cases. 📸💻

Patient care is a key theme, with Curtis believing that it can be increased by a staggering 100%. He shares personal experiences, stressing the significance of fully understanding dental treatments and highlighting the correlation between accepting treatments and better outcomes. 🤝💉

Moreover, Curtis challenges the limitations of current dental office software, advocating for real-time data collection, automated scheduling, and improved patient information accessibility. He reveals his own software that aims to address these challenges and enhance patient care. 🖥️✨

Tune in as Curtis Marshalls explores the power of data, the importance of patient retention, and the transformative possibilities of streamlining dental office operations. 🎧💡

Savvy Dentist was born out of a need identified by dentist and founder, Dr. Jesse Green. Recognizing the operating environment for dentists changed dramatically and left many without a busy compass, over several years, Jesse devised the tools, systems, and integrated dental business coaching program that is now Savvy Dentist.

Tune in today and learn how you can move from stress out to savvy with Dr. Jesse Green.