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PODCAST

The Dental Boardroom

A place for dentists to find expert insight and information around everything from navigating residency and associate opportunities to being a successful dental practice owner.

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All Episodes

24:46

90: A Second Location: Should You Buy or Start Up One

The Dental Boardroom ·

2025/05/08

Welcome back to The Dental Boardroom Podcast!Wes Read CPA, CFP dives deep into a critical and often misunderstood topic among dental practice owners: Should you buy or open a second location?Wes breaks down the real economics, hidden challenges, and common myths behind scaling your dental business by adding a second office. Drawing from years of client experiences and financial data, he explains why many dentists struggle — and why some succeed — in making this leap.Whether you’re at the peak of

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58:04

89: EBITDA: Everything You Need to Know About It

The Dental Boardroom ·

2025/05/07

In this episode, Wes Read, CPA and founder of PracticeCFO dives into one of the most important financial terms in dentistry: EBITDA. Whether you're planning to sell your practice or simply want to manage it better, understanding EBITDA is essential. Wes explains what it is, how to interpret it from your P&L, and why every dental professional—owner or associate—should know the business side of dentistry.This episode is designed to help you start thinking like a CEO of your dental practice

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23:08

88: The Economics Between In-Network vs. FFS Fee Models

The Dental Boardroom ·

2025/05/01

In this insightful episode of The Dental Boardroom Podcast, Wes Reed, CPA, CFP and founder of Practice CFO, breaks down the real financial impact of staying in-network with PPOs versus transitioning to a fee-for-service (FFS) model. Using a crown-focused case study, Wes illustrates how fewer procedures can yield significantly higher profits under FFS — even with some patient attrition. If you're a dental practice owner evaluating your profitability strategy, this episode will give you a clear-eyed

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51:00

87: 10 Questions to Ask Your CPA Each Year

The Dental Boardroom ·

2025/04/29

Welcome back to The Dental Boardroom Podcast with Wes Read!In today's episode, we're pivoting from last week's discussion about reviewing your own financial statements to a powerful new focus: the 10 critical questions you should be asking your CPA every year — not just at tax time.Why is this so important? Most CPAs are historians by training — they look backward. But if you learn to engage them correctly, you can push your CPA into a more analytical, forward-thinking advisor role that will

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37:00

86: The PTE Tax Deduction: DON'T MISS OUT!

The Dental Boardroom ·

2025/04/25

The PTE Deductions: Don’t Miss Out!If you're a dental practice owner in a state with state-level income taxes—this episode is for you. Host Wes Read dives deep into the Pass-Through Entity (PTE) Tax Election, a tax-saving strategy that can turn your state tax payments into a federal tax deduction.This is especially important for dentists in high-tax states like California, New York, or any state with a 4%+ income tax. Wes breaks down what the PTE is, why it matters, and how to use it properly—so

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40:32

85: 10 Questions to Ask Yourself When Reviewing Your...

The Dental Boardroom ·

2025/04/24

Welcome back to The Dental Boardroom Podcast with Wes Read.In this follow-up to our previous episode on structuring your Profit & Loss (P&L) statement, we dive deeper into the how of using your financials strategically.This episode walks you through 10 essential questions—or rather, areas of focus—to ask each month when reviewing your financial statements. These questions will help you uncover trends, evaluate performance, and guide your practice toward long-term financial health.Wes also

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51:59

84: Your Practice in Numbers: Mastering the Profit &...

The Dental Boardroom ·

2025/04/17

In this episode with Wes Read, CPA and founder of PracticeCFO, explore a topic that is absolutely foundational to the financial success of your dental practice—your financial statements. Host [Your Name] (or "I") breaks down the importance of understanding your Profit & Loss Statement (P&L) and how it reflects the economic health of your practice.Whether you’re preparing to sell your dental practice or simply want to make smarter financial decisions, this episode will help you interpret your

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27:45

83: The ERC (Employee Retention Credit): Key Updates.

The Dental Boardroom ·

2025/04/15

In this episode of The Dental Boardroom Podcast, Wes Reid, founder of a dental CPA and financial planning firm, dives deep into the Employee Retention Credit (ERC)—what it was, how it worked, and the lingering tax implications that dentists still need to address in 2025. From qualification rules and tax amendments to why the IRS is still behind on guidance, Wes breaks it all down with clarity and real-world insight. If you're a dentist who claimed the ERC or are still navigating its aftermath, this

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29:42

82: Top 10 Mistakes When Selling Your Dental Practice

The Dental Boardroom ·

2025/04/10

Selling a dental practice is one of the biggest financial decisions in a dentist’s life—and it’s easy to make costly mistakes. In this episode, Brian Hanks sits down with Wes Read, CPA and founder of PracticeCFO, to break down the top 5 most common mistakes dentists make when selling their practice. From bad timing to poor team assembly, Wes and Brian share the insights every seller needs to avoid leaving money (and sanity) on the table.Key Points:Why selling too late can hurt your practice valueThe

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01:10:06

81: Full Arch Dentistry Case Acceptance and Industry...

The Dental Boardroom ·

2025/04/08

In this powerful episode of The Dental Boardroom Podcast, host Wes Reed, CPA and CFP of Practice CFO, sits down with the dynamic Stacy Farley—former corporate sales leader turned dental practice powerhouse. Stacy shares her remarkable journey from business and sales into the world of dentistry, specifically her transformational work in her father’s full arch dental practice.Together, they explore what it really means to “sell” in dentistry, how to guide patients toward life-changing decisions, and

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53:04

80: Credit Score What Dentists Need to Know

The Dental Boardroom ·

2025/04/03

Your credit score may not seem like a daily concern, but as a dentist, managing debt is an unavoidable reality. Whether it's student loans, a practice acquisition, or buying a home, your credit score can be the deciding factor in securing favorable loan terms. In this episode, we break down the essentials of credit scores, how they impact your financial future, and key strategies to improve and maintain a strong score. Learn why debt, when used correctly, can be a powerful tool for financial growth

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51:29

79: Emergency Reserves: Why, How Much, and How to Invest

The Dental Boardroom ·

2025/03/31

Summary:In this episode of The Dental Boardroom Podcast, Wes Reed, CPA and Certified Financial Planner, dives into the critical importance of having an emergency reserve fund both personally and for your dental practice. Wes breaks down why cash reserves act as "sleep insurance," offering peace of mind during financial fluctuations. He shares insights on how much money to set aside, how to manage it wisely, and how to generate returns without risking your financial stability. Whether you're dealing

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01:07:29

78: Personal Spending habits: Why Dentists Struggle...

The Dental Boardroom ·

2025/03/25

Episode Summary:In this episode of The Dental Boardroom Podcast, Wes Read, CPA and Certified Financial Planner, dives into the importance of establishing a spending plan to achieve long-term financial freedom. Wes discusses common financial pitfalls dentists face, the psychological challenges around budgeting, and actionable strategies for taking control of your money. Learn how effective spending and disciplined saving can set you on the path to a secure retirement and a fulfilling life.Key

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18:58

77: The State of Dentistry in 2025: Trends,...

The Dental Boardroom ·

2025/02/24

Summary:Join us for an insightful discussion on the current state of dentistry in 2025. In this episode, we explore the latest financial trends, the best locations for dentists, and the biggest challenges facing the industry today. From compensation disparities between practice owners and associates to the growing influence of AI and teledentistry, we break down what every dental professional needs to know. Plus, we dive into how staffing shortages, insurance complexities, and rising operational

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01:00:37

76: Why Dentists Should Exercise

The Dental Boardroom ·

2025/01/28

Episode Summary:In this episode of The Dental Boardroom, host Wes dives into a vital yet often overlooked topic: the intersection of health, wellness, and dentistry. Joined by dental coach Steve Sperry and senior CFO advisor Andrew, the discussion highlights how dentists can integrate exercise, stretching, and stress management into their demanding schedules. From personal stories about back pain and family health to innovative wellness practices like stretching routines, yoga, and cold plunges,

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53:06

75: Profit Allocation Models for Dental Partnership

The Dental Boardroom ·

2025/01/21

Podcast Summary:In this episode, we delve into one of the most critical aspects of running a successful dental partnership: profit allocation. Drawing parallels between marriage dynamics and business partnerships, we explore three core models for distributing profits among dental practice owners. These models — the 50/50 Model, Associate-Owner Model, and Full Allocation Model — are unpacked to help you determine the best approach for your practice. Whether you're a seasoned dentist or exploring

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36:08

Dental Partnership Legal Structure

The Dental Boardroom ·

2025/01/07

Summary:In this episode, we explore the financial and legal intricacies of dental partnerships. Learn about the pros and cons of various legal structures, including S corporations and partnerships, and why selecting the right setup is crucial for tax efficiency and liability protection. Our host also shares tips on payroll, 401(k) planning, and navigating IRS requirements. Plus, discover how PracticeOrbit.com simplifies dental practice sales and connects you with expert advisors.Key

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21:02

Partnership Valuations

The Dental Boardroom ·

2024/11/07

Episode Summary:In this episode, we dive deep into the intricacies of valuing dental practices, particularly in the context of partnerships. We break down key valuation concepts for general practitioners (GPs) and how factors like cash flow, overhead, and goodwill contribute to a practice’s overall worth. We also explore different partnership models, including associate buy-ins and common pitfalls when transitioning from associate to partner. Gain insight into how practice owners and associates can

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31:52

Three Elements to a Successful Dental Partnership

The Dental Boardroom ·

2024/10/31

Episode Summary:In this episode. we dive into the essentials of forming a successful dental partnership—a vital strategy in today's challenging economic landscape for dental practices. Our host draws on over 15 years of experience to highlight the financial and personal benefits of partnerships, explaining how joining forces can alleviate cost pressure, increase profitability, and create a supportive work environment. Key discussion points include the importance of chemistry, shared clinical

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25:43

The Cons of Dental Partnerships

The Dental Boardroom ·

2024/10/03

In this episode of The Dental Boardroom Podcast, host Wes continues his deep dive into dental partnerships, focusing on the potential downsides. Following the previous discussion on the advantages of partnerships, Wes now addresses key challenges such as decision-making conflicts, differing mission statements, profit allocation issues, and the complexities of new patient distribution. Whether you're currently in or considering a dental partnership, this episode equips you with the knowledge to

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