In this episode, Ash discusses the evolving landscape of dental practice ownership, particularly whether it’s still worth buying or starting a dental practice. Ash explains that the decision is much more nuanced than it was a decade ago. Factors such as market saturation, shrinking reimbursement rates, and increased competition from DSOs and PE-backed practices mean that buying or starting a practice requires extensive research and self-reflection. The conversation covers challenges unique to both startups and acquiring existing practices, including location selection, identifying business models, and coping with the demands of being both a clinician and a business owner.

He also addresses the realities of working with DSOs, selling a practice, and the trade-offs of joining larger organizations versus independent ownership. He also talks about why it's important to understand your career goals, personality fit, and risk tolerance amidst a shifting generational mindset and increasing concern about burnout.

Key Topics Discussed:

• The current viability of buying or starting a dental practice
• The impact of urban saturation and DSOs/PEs on dental ownership
• Key factors and research required for successful startups
• Startup vs. acquiring an existing practice: pros and cons
• Business acumen and the challenge for clinicians
• Effects of market demographics, location, and business models
• Lender requirements for practice acquisition
• The importance of team dynamics in transitions
• Differences between selling to DSOs vs. individual buyers
• Alternative equity opportunities for associates
• Generational differences in ownership goals
• Burnout and realistic career considerations
• Planning for exit strategies and financial obligations

In this episode, Ash welcomes Kevin Henry from Kevin Speaks Dental, a seasoned advocate for dental assistants with over twenty years of experience in the field. Kevin shares his insights about the evolving roles of dental assistants and the challenges they face, including compensation concerns, feelings of undervaluation, and workplace culture. They discuss the importance of communication, team accountability, and culture in retaining and supporting dental assistants, explaining how these factors often outweigh pay in promoting job satisfaction.

The conversation covers practical ways practice owners can support their assistants, from regular check-ins about career goals to fostering a sense of empowerment and belonging within the team. Kevin also discusses how technology and generational shifts are impacting dental practices, stressing that open dialogue and targeted training help ease the adoption of new tools and responsibilities. They also talk about why it's so important for practice owners to stay updated on state regulations and to invest in knowing their numbers, ensuring both patient care and a profitable, harmonious workplace.

Key Topics Discussed:

• Common challenges for dental assistants: pay, respect, and team culture
• Ways to add value for assistants beyond compensation
• Importance of regular check-ins and career goal discussions
• Team accountability and the role of leadership throughout the practice
• Improving the hiring process and assessing team fit
• The impact of technology on dental practice workflow
• Managing generational differences and communication styles
• Ensuring compliance with state regulations for assistant duties
• Balancing business profitability with patient care and staff satisfaction

To learn more about or connect with Kevin, you can find him at: https://www.kevinspeaksdental.com/

In this special episode of Beyond Bitewings we're sharing our favorite conversations with a few experts who discuss how dental practice owners can create generational wealth by thinking beyond their day-to-day income.

Ash is joined by former guests like Paul Montelongo, Eric Miller, and Nathan Turner as they share practice advice and non-traditional options when it comes to investing your hard-earned income.

In this episode, they unpack traditional and alternative investment strategies designed specifically for dental practice owners. From stocks and bonds to multifamily syndicates and mortgage note buying, this episode covers what you need to know to make your money work for you beyond the dental chair.

Discover how to evaluate different investment options, set up multiple revenue streams for your household, and ensure you're properly compensating yourself as a business owner. The episode also features a practical look at passive investing, how to navigate business plans for real estate syndications, and the ins and outs of buying mortgage notes.

Key Topics Discussed:

• Approach to investing for dental practice owners
• How multifamily syndications work for passive investors
• Typical hold periods, returns, and distributions in real estate syndicates
• Defining the role of limited partners (LPs) and their rights
• Structuring practice owner compensation and ensuring proper payment
• The importance of generating additional revenue streams beyond practice income
• Overview of investment options: stocks, bonds, real estate, and insurance products
• Mortgage note investing: process, returns, and investor protection
• Reporting and payout timelines for investors