What if the biggest threat to your dental practice is the very system you’ve been told you need to survive?

In this episode, Art Wiederman sits down with longtime dental coach Gary Takacs to unpack one of the most pressing issues facing dentists today, rising overhead and the growing dependence on insurance. With costs climbing and PPO reimbursements cutting deeply into revenue, many practices are feeling squeezed with no clear way out. Gary explains why this model is becoming unsustainable and how it is quietly eroding both profitability and professional satisfaction.

The conversation goes beyond the problem and dives into what dentists can actually do about it. Gary shares practical insight from decades of experience working with hundreds of practices, including how to assess readiness to reduce insurance dependence, what separates thriving practices from struggling ones, and why relationship-driven care is more important than ever. He also outlines a clear path forward, from understanding your numbers to strengthening your marketing and building a team that supports long-term success.

This episode is a wake-up call for dentists who feel stuck, overworked, or underpaid. It also offers a hopeful perspective, showing that with the right strategy and mindset, it is possible to regain control, improve profitability, and rediscover the passion that brought you into dentistry in the first place.

Connect with Gary

Website: https://www.toptenpractice.com/

Contact Number: 602-321-1778

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Looking for financial guidance from a team that truly understands dentistry? Bank of America Practice Solutions has spent over 25 years helping dentists nationwide achieve their goals with customized financing and expert support, whether you are just getting started or growing an established practice.

Email dg.connect@bofa.com to connect with a specialist and get personalized financial solutions.

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Stop feeling overwhelmed by the numbers. ADCPA member firms specialize exclusively in serving dentists to help you achieve financial success. Gain a strategic partner who understands industry benchmarks and overhead management so you can focus on clinical excellence.

Find your expert: Visit https://adcpa.org/ to find a trusted dental CPA near you. Your numbers should work as hard as you do.

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Detect what traditional diagnostics miss. Innerview uses FDA-cleared technology to measure internal tooth mobility, helping you identify cracks and loose restorations earlier before they become emergencies. The result is better treatment planning, fewer surprises, and stronger patient trust, all without disrupting your workflow.

Book a demo at Innerview.ai and mention Art Wiederman to receive $250 off.

Disability insurance mistakes can end a dental career overnight

Many dentists assume disability insurance will automatically protect them, yet most never fully understand their policies until a crisis happens. Career ending conditions like hand injuries, back problems, or progressive pain often develop slowly, making timing and preparation critical. The difference between own occupation and any occupation coverage can determine whether benefits are approved or denied. Updating coverage as income grows, choosing individual policies over group plans, and consulting experts early can prevent devastating financial gaps. Insurance companies carefully review claims, monitor activities, and scrutinize timing, so dentists must document medical issues early, follow physician guidance, and avoid waiting until practice sale or severe decline before acting. Proper planning turns disability insurance into true income protection instead of an expensive policy that fails when it matters most.

Connect with Randy Curry

Contact number: 949-258-4381

Email: RandyDCurryLaw@gmail.com

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Looking for financial guidance from a team that truly understands dentistry? Bank of America Practice Solutions has spent over 25 years helping dentists nationwide achieve their goals with customized financing and expert support, whether you are just getting started or growing an established practice.

Email dg.connect@bofa.com to connect with a specialist and get personalized financial solutions.

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Stop feeling overwhelmed by the numbers. ADCPA member firms specialize exclusively in serving dentists to help you achieve financial success. Gain a strategic partner who understands industry benchmarks and overhead management so you can focus on clinical excellence.

Find your expert: Visit https://adcpa.org/ to find a trusted dental CPA near you. Your numbers should work as hard as you do.

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Detect what traditional diagnostics miss. Innerview uses FDA-cleared technology to measure internal tooth mobility, helping you identify cracks and loose restorations earlier before they become emergencies. The result is better treatment planning, fewer surprises, and stronger patient trust, all without disrupting your workflow.

Book a demo at https://innerview.ai/ and mention Art Wiederman to receive $250 off.

Janice Hurley has helped practices across the country increase their profit margins by decreasing their dependency on outside insurance plans. In this episode of The Art of Dental Finance and Management, Janice walks Art through the five things any dental practice must consider before dropping an insurance plan, as well as how to prevent losing patients during the transition.

Listeners of the podcast are encouraged to email Janice at jhurley@janicehurley.com for a chance to win a free copy of her book, Dental Image Branding: How to Create Optimal Patient Impact.

What actually separates dentists who struggle from those who consistently win with patients, cases, and long-term success? This episode goes beyond techniques and tools to reveal the real differences that matter.

In this podcast, Dr. David Hornbrook shares decades of insight on how top-performing dentists think, communicate, and design their careers. The discussion covers why clinical skill alone isn’t enough, how patient trust drives case acceptance, the role of mentorship and intentional learning, and how technology like AI is reshaping dentistry. It’s a practical look at how high-level dentists create value, avoid low-impact work, and position themselves to stay relevant and profitable as the profession continues to change.

Connect with David

Website: https://uvdl.com/

Email: Natalie@uvdl.com

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Stop feeling overwhelmed by the numbers. ADCPA member firms specialize exclusively in serving dentists to help you achieve financial success. Gain a strategic partner who understands industry benchmarks and overhead management so you can focus on clinical excellence.

Find your expert: Visit https://adcpaa.org/ to find a trusted dental CPA near you. Your numbers should work as hard as you do.

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Looking for financial guidance from a team that truly understands dentistry? Bank of America Practice Solutions has spent over 25 years helping dentists nationwide achieve their goals with customized financing and expert support, whether you are just getting started or growing an established practice.

Email dg.connect@bofa.com to connect with a specialist and get personalized financial solutions.

--------------

Detect what traditional diagnostics miss. Innerview uses FDA-cleared technology to measure internal tooth mobility, helping you identify cracks and loose restorations earlier before they become emergencies. The result is better treatment planning, fewer surprises, and stronger patient trust, all without disrupting your workflow.

Book a demo at Innerview.ai and mention Art Wiederman to receive $250 off.

In this episode of The Art of Dental Finance and Management, Art Wiederman, CPA, shares key findings from a recent national survey of over 3,500 dentists, highlighting compensation trends for associate dentists, hygienists, dental assistants, and office managers. The data reveals a growing shift in workforce sentiment — with many dental professionals planning to seek new opportunities in 2025 and 2026.

Art analyzes the reasons behind this trend, including employee dissatisfaction with work schedules and office culture. He highlights the importance of fostering a positive, team-oriented environment where employees feel supported and encouraged to grow professionally.

Listeners will walk away with actionable strategies to strengthen team engagement — starting with how practice leaders can create a culture of collaboration, encourage continuous learning, and build trust across their teams.

This episode offers valuable insights and practical takeaways to help dental practice owners make informed decisions about team management and long-term business success.

In this episode of The Art of Dental Finance and Management podcast, Art meets with fellow Eide Bailly dental CPAs Scott Haberman and Don Watson to discuss how dentists can best prepare for the coming tax filing season. They cover some key tax prep considerations to ensure a less taxing experience:

o Gather all tax information

o Report all income

o Identify all legal deductions

o Calculate salary for S Corporation shareholders

o Decide whether to file on time versus extending

Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist.

Being more strategic in all aspects of your dental practice will lead to increased profitability. https://www.eidebailly.com/industries/health-care/dentists#chatForm

The number one challenge dental practices have had for years has been to find and retain good team members, and that is even more important given the COVID-19 pandemic.  In today’s episode of The Art of Dental Finance and Management podcast, Art speaks with dental consultant Sharyn Weiss about issues in hiring and compensating of dental team members. Art and Sharyn discuss why “competitive” compensation really does not mean anything, why Sharyn thinks bonus plans could be a disincentive to productivity, how to determine salary ranges in your area and myths about money and motivation. Art and Sharyn also speak about how important it is for an employer to be respectful and supportive of his or her team and what can happen if they are not. Lots of great tidbits about a challenging area in the dental practice.

Social media is no longer a nice-to-have for dental practices; it’s a must-have. In this episode of The Art of Dental Finance and Management, Art Wiederman is joined by author and social media marketing specialist Rita Zamora for a conversation about leveraging social media to attract patients, recruit employees, and build trust. Rita shares best practices for what, when, and how to post for the maximum impact.

Listeners of the podcast are encouraged to email Rita at rita@ritazamora.com for a special offer.

The dental industry continues to consolidate rapidly, providing opportunities for dentists to partner with Dental Support Organizations (DSOs). In this episode of The Art of Dental Finance and Management podcast, Art meets with Chip Fichtner, Principal of Large Practice Sales, to discuss how dentists can accelerate practice growth with an Invisible DSO. Chip explains how larger practice owners can monetize part of their practice without selling all of it. He also explains how it can be done at any phase of a dentist’s career since it’s unrelated to transition planning or retirement strategy. Essentially, dentists retain an ownership interest to benefit from investor resources, which helps retain the value of their practice and allow it to continue to grow.  Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist. Being more strategic in all aspects of your dental practice will lead to increased profitability. https://www.eidebailly.com/industries/health-care/dentists#chatForm

On today's episode of The Art of Dental Finance and Management podcast,  Art meets with Jim Donovan, Partner-in-Charge of the Employee Retention Credit (ERC) program at Eide Bailly. Art and Jim discuss the lessons they’ve learned throughout the process of helping clients maximize funding, as well as how dentists can still take advantage of the opportunity.  Some key points covered in this episode include: • History of the ERC provision • How to qualify  • Timing to receive  • How to calculate and maximize funding • 2021 rules Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist. Request help to see if you qualify and to maximize funding.   https://www.eidebailly.com/erc 

On today's episode of The Art of Dental Finance and Management podcast, Art meets with Eric Vickery, dental coach at All-Star Dental Academy, to discuss the Key Performance Indicators (KPIs) for dentists to grow their practice. Art and Eric review tips on how to best manage their practice and track measurable stats including:  • New patients  • Comprehensive exams  • Write-off rate • Hygiene appointments • Lost time in the schedule • Collection rate vs. production Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist.

On today's episode of The Art of Dental Finance and Management podcast, Art meets with Dennis Kushner, principal of Fordham Road Collaborative Group. Art and Dennis discuss national and global economic issues affecting dentists including: • Inflation • Interest rates • Pandemic challenges • Global influences • Potential tax legislation • National debt • Economic indicators and trends Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist. Being more strategic in all aspects of your dental practice will lead to increased profitability.  http://www.eidebailly.com/dentists    

In this episode of The Art of Dental Finance and Management, host Art Wiederman is joined by acclaimed dental attorney Ali Oromchian for a conversation about human resources in dentistry. Ali shares the most common HR mistakes he sees in dental practices, as well as advice for avoiding legal challenges, maintaining compliance, and fostering a positive work environment. Art and Ali also discuss some of the most pressing issues in dentistry today: artificial intelligence, hybrid work, and an aging workforce.

In this episode of The Art of Dental Finance and Management podcast, Art meets with Mel Schwarz, Director of Legislative Affairs in Eide Bailly’s National Tax Office. Art and Mel discuss the new tax law changes related to the enactment of the American Rescue Plan Act (ARPA) signed into law in mid-March. Mel’s reviews components of the new plan that will help dentists minimize their tax liabilities, as well as provisions that may affect 2020 tax returns. ARPA includes: •        Expanded child tax credits •        Stimulus payments of $1,400 per person  •        Student loan debt forgiveness relief  •        New rules on taxation of unemployment benefits •        Potential new tax laws coming Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist. Tax planning for 2020 may be challenging with the new tax law changes. Our advisors are here to help simplify the process. https://www.eidebailly.com/insights/articles/2021/3/congress-approves-1-9-trillion-covid-19-rescue-bill  

Dentists were hit hard in 2020 by the COVID-19 pandemic. The American Dental Association (ADA) set out to ensure the dental profession was supported and heard during this challenging time. In this episode of The Art of Dental Finance and Management podcast, Art meets with the president of the ADA, Dr. Daniel J. Klemmedson, to discuss the ADA and its goal to help dentists thrive and recover.   Advocacy is a large part of the efforts of the ADA on behalf of dentists. Here are a few of the goals and initiatives the organization has undertaken:  • Developing online tools and resources  • Information dissemination to members  • Advocating for dentists in legislature  • Making sense of all the complicated funding mechanisms • Safe dental practice reopening • Delivering dental care to underserved communities – promoting overall health through good oral health • Pushing back against third party payer issues  • Encouraging young dentists to get involved in organized dentistry to advance the profession • Providing webinars and resources to help dentists cope with stress Priorities for 2021 include: creating a necessary balance between insurance reimbursements, increased costs for supplies, maintaining patient volume and a workforce as well as managing resources. Art and Dr. Klemmedson discuss these and other opportunities with the ADA in today’s episode.   Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist. Dentists face a number of issues as they recover from the COVID-19 pandemic and move forward. From economic stimulus options to financial strategy, we can help.  www.eidebailly.com/dentist 

In this episode of The Art of Dental Finance and Management, host Art Wiederman welcomes dental attorney Jason Wood to discuss crucial legal considerations for practices thinking about selling to a Dental Service Organization (DSO). They cover who should (and shouldn’t) consider selling, common mistakes and how to avoid them, and essential pre-sale factors to ensure a smooth and profitable transition. Tune in for helpful advice on navigating the DSO partnership process and making informed decisions for your practice.

Dentists, like other professionals, should develop a solid financial plan to build wealth and prepare for retirement. Planning for financial independence while building their dental practice is an issue that concerns dentists at all stages of their career, whether they’re just starting out, growing to multiple locations, or preparing to sell their practice in preparation for retirement. Developing a financial plan with the guidance of a team of professional advisors helps them meet their unique current and future goals and will continue to evolve throughout the various life stages. 

In this episode of The Art of Dental Finance and Management podcast, Art meets with Ryan Weigel, CPA, CFP and Zachary Schnitzler, CEPA, CLCS of Eide Bailly Financial Services about the financial planning process for dentists. Ryan and Zachary emphasize why financial plans are so important, major pitfalls to avoid (typically not having any financial plan), as well as what steps dentists can take to ensure success. They also discuss some of the essential elements of a solid financial plan:

• Budgeting
• Debt reduction
• Student loans
• Retirement savings
• Insurance coverage
• Children’s education
• Estate planning

Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist.

[CALL OUT BOX – We Can Help Button] Let us help you build a solid financial.   [cta: www.eidebailly.com/financialfuture]

The Transcript

Art Wiederman, CPA And hello everyone, and welcome to another episode of The Art of Dental Finance and Management with Art Wiederman, CPA. I am your host, Art Wiederman. It's a pleasure for me to be joining you today and sharing some information. I am a dental division director at the CPA firm of Eide Bailly. Our CPA firm represents about 800 dentists and today's topic is, goes to the core of what this podcast series is about. It's called The Art of Dental Finance and Management.

And today we're going to be talking about a financial plan. I've done podcasts on the 10 Biggest Financial Mistakes Dentists Make, and I've talked about retirement planning. But today I have two really great experts from our firm, Ryan Weigel and Zach Schnitzler. And Zach and Ryan are going to go ahead and talk about financial planning. They're part of our financial planning group.

We're going to talk about why do you need a financial plan? What is a financial plan and what are the biggest mistakes we see dentists making. B

More than two thirds of Americans do not have a proper estate plan in place. In this episode of the Art of Dental Finance and Management, Art is joined by attorney Joshua Meier for a conversation about the importance of estate planning — particularly in the dental profession — and the key individuals and documents involved in developing an estate plan. Art and Joshua also discuss common challenges and misconceptions in estate planning and how to address them.

This week’s episode of The Art of Dental Finance and Management podcast focuses on COVID-19 related relief programs dentists can take advantage of, as well as tips and key business metrics to operate a more profitable practice.  On October 28, the U.S. Department of Health & Human Services (HHS) released new updates to the HHS Provider Relief Fund FAQs that added removed and modified guidance.  Art reviews these updates as well as provides additional helpful dental practice finance and management guidance, including: •        Updates on filing for Paycheck Protection Program (PPP) loan forgiveness •        Phase 3 funding for the HHS Provider Relief Fund •        How dentists should document relief fund expenses  •        Preview of Democratic Presidential candidate Joe Biden’s income tax plan •        Financial tips and tax savings dependent upon who wins the presidential election Art also discusses key business metrics related to helping dentists run a more efficient and profitable practice, including:  •        A formula for calculating total production in a dental practice •        The importance of minimizing cancellations and no-shows  •        Increasing production and meeting practice goals with your morning huddle Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist. Maximize your practice profitability with the support of our team of dental industry professionals.  https://www.eidebailly.com/industries/health-care/dentists. Be sure to like and share our 100th episode podcast post on our social media channels to be entered to win a $100 Visa gift card. You can also subscribe on our website to receive information on future podcasts to be entered for a chance to win!