In the third episode of Season 4, the Dental Amigos discuss common misconceptions about the negotiation process and establishing a letter of intent when buying a dental practice. Rob and Paul give a working definition of a letter of intent and emphasize the importance of buyers having strategic communications with sellers during the initial stages of negotiating the purchase of dental practices. The Amigos also explain to listeners how to navigate the non-binding nature of a letter of intent. Li...
Feb 09, 2023•41 min
In this episode of The Dental Amigos, Rob and Paul discuss the logistics of finding a dental practice to purchase. The Amigos start this episode by explaining the importance of bringing a broker onto the buyer’s team as early in the process as possible, and then they focus on how to leverage key networking strategies to help find a dental practice. They propose a realistic timeline for potential buyers to expect when buying a practice and expand on how long buyers should anticipate each step of ...
Feb 02, 2023•28 min
The Dental Amigos are back for Season 4, where they’ll dig into important aspects of buying a practice, plus they’ll be tipping off listeners to some common mistakes that they’ve seen time and time again in their many collective years of assisting buyers with dental practice acquisitions. With Rob’s experience as a dental-focused attorney and Paul’s experience as a dentist and dental broker, they’ll be providing listeners with holistic advice on how to select the best practice to purchase. In th...
Jan 26, 2023•41 min
In the eighth episode of this season of The Dental Amigos, Rob and Paul discuss how the ownership of real estate can affect the relationship between business partners. First, the Amigos discuss the importance of shared decisions in a partnership, which sometimes can go awry if partners do not have an equal share in the ownership of the real estate. Then, Rob and Paul confer about forming partnerships in start-up dentistries, and discuss why it may not be a good idea to do so due to real estate o...
Jan 10, 2023•39 min
In this episode of The Dental Amigos, Rob and Paul discuss some of the financial, clinical, and legal due diligence that buyers and sellers should conduct prior to entering into a partnership. First, Rob explains why it’s so important for the buyer to obtain a projected cash flow analysis. Then, Paul discusses some key considerations that buyers should keep in mind when conducting clinical due diligence. And finally, the Amigos summarize important issues that sellers should consider before agree...
Dec 08, 2022•29 min
In this episode of The Dental Amigos, Rob and Paul give listeners a bird's-eye view of the buy-in/partnership process from conducting due diligence to negotiating a letter of intent to closing the transaction and beyond. They also explain why it's so important to engage professional advisors such as a CPA and attorney to assist with the deal and when to get them involved. Finally, Rob summarizes the purposes of several key contracts that are generally required to consummate the buy-in/partnershi...
Dec 01, 2022•47 min
In this episode, the Amigos discuss how practice owners and/or associates can come across buy-in/partnership opportunities. Rob and Paul tackle this by focusing on three distinct types of opportunities: 1) finding a third-party individual who is not already involved in a practice; 2) taking an associate who has been at a practice for a few years and making the associate a partner; and 3) hiring an associate with the expectation that partnership will be in the near future. Don’t miss the great ti...
Oct 26, 2022•30 min
In this fourth episode of this Dental Amigo’s season, Rob and Paul answer a vital question relating to partnerships, when is the right time? The Amigos identify and discuss crucial characteristics of an employee/owner relationship that may lead to a successful partnership, or in some cases, a not so successful partnership. Whether you are just entering the world of associateship or have been a practice owner for years, this podcast is instructive for those considering partnership and focuses on ...
Oct 19, 2022•25 min
In this third episode of this Dental Amigos season, Rob and Paul discuss key considerations that associates and their employers should keep in mind before they agree to partner with each other. First and foremost, the Amigos chat about the importance of confirming that the practice can financially support two owners. Then, Rob and Paul propose several questions that associates should ask their employers before proceeding with the partnership. And finally, the Amigos explain why sometimes the bes...
Oct 05, 2022•25 min
In this second episode of The Dental Amigos’ third season on buying into a practice and bringing on a partner, Rob and Paul discuss an opportunity that many associates are presented with: DSO partnerships. Although these offers can seem enticing, DSO partnership agreements often contain provisions that chain associates to the practice by making it very difficult for them to leave from both a legal and business standpoint. The Amigos discuss these provisions as well as how it can be difficult to ...
Sep 30, 2022•23 min
The Dental Amigos are back once again for a third season in their new format. In this season, Rob and Paul cover some of the business, legal, and financial considerations that buyers should keep in mind when buying into a practice, as well as those that practice owners should think about when bringing on a partner. The topics they’ll discuss in the upcoming episodes will include DSO partnerships, due diligence concerns, partnering in the practice where you associate, and much, much more. In this...
Sep 22, 2022•47 min
Tune in as Rob and Paul finish up their latest season of Dental Associate Agreements from an Employer’s Perspective where they answer important questions many practice owners ask as they enter the world of associateship. What makes this episode special? Rob and Paul focus their discussion on topics that are relevant to everyday practice ownership and these topics have been provided by our own listeners. You won’t want to miss the Amigos’ thoughts on key issues for practice owners, including: Whe...
Aug 10, 2022•32 min
In this second-to-last episode of the Dental Associate Agreements from an Employer’s Perspective season, the Amigos discuss what practice owners need to know about restrictive covenants. Rob and Paul discuss why a robust restrictive covenant is critically important to protect the value of the goodwill of the practice. Then they explain what it means for a restrictive covenant to be “reasonable” and why that matters. Finally, Rob elaborates on what he means when he says that “bigger isn’t necessa...
Jul 21, 2022•23 min
In this eighth installment of the Dental Associate Agreements from an Employer’s Perspective season, the Amigos discuss something that many practice owners often wonder– what should they do when their associate decides to leave the practice? Rob and Paul explain how planning proactively to efficiently find a replacement associate can make for a smooth transition. They recommend that practice owners create concrete onboarding procedures to quickly train the new associate. And finally, the Amigos ...
Jul 14, 2022•20 min
In this 100th episode of The Dental Amigos podcast, Rob and Paul discuss how practice owners can cultivate their associates’ skills in order to grow the practice and improve patient care. They talk about the fundamental clinical procedures that every associate should be able to do unsupervised, how practice owners can teach their associates these procedures through active mentorship, and which continuing education (CE) courses practice owners should encourage their associates to take to expand t...
Jul 07, 2022•24 min
Looking to hire an associate? Check out the Dental Amigos latest episode where they discuss how practice owners can find the best associate to fit the needs of their practice. Paul has been a dental practice owner for many years, so you won’t want to miss the great strategies he shares, including the importance of spending money to make money, as well as a few additional ‘free’ ideas. The Amigos also emphasize the importance of being creative, being authentic and searching for quality candidates...
Jun 23, 2022•23 min
The Dental Amigos are back with a fifth episode of their Dental Associate Agreements from an Employer’s Perspective season, where they discuss the all-important topic in any employment relationship- compensation. Rob and Paul focus on helping practice owners realize that they should create an agreement that is clear and understood by both the employer and their new associate so that everyone is “on the same page”. The Amigos emphasize that practice owners were once young associates too and altho...
Jun 16, 2022•29 min
In this fourth episode of The Dental Amigos, Rob and Paul discuss the importance of classifying an associate correctly, whether as an independent contractor (“1099”) or an employee (“W-2”). Rob explains it is not up to a practice owner to simply decide whether an associate will be considered an independent contractor or not. Instead, there are state and federals laws and regulations, that determine such classification. As a practice owner, it can be easy to get wrapped up in the day to day of pr...
Jun 10, 2022•29 min
In this third episode of the Dental Associate Agreements from an Employer’s Perspective season, Rob and Paul discuss the skills and experience that practice owners should look for when hiring an associate. Paul, who has hired ten associates since he became a practice owner, leads the discussion on how an employer will know if an associate is a good fit. Finally, the Amigos chat about the importance of making sure that the practice owner’s goals and expectations align with those of the associate....
Jun 02, 2022•26 min
In this second episode of the Dental Associate Agreements from an employer’s perspective season, the Amigos dive into one of the most controversial topics in associate agreements as of late- term and termination. In the recent years, the playing field has changed dramatically, and the Amigos talk about the impact these changes have had on practice owners. Rob and Paul explain the fine line between protecting yourself as an employer and “winning” when it comes to contract negotiation. The Amigos ...
May 26, 2022•33 min
The Dental Amigos are back for a second season in their new format and are flipping the script by exploring Dental Associate Agreements from an employer’s perspective. In this first episode of the new season, the Amigos discuss when an employer should hire an associate and, more importantly, why they should hire an associate. Rob and Paul chat about how employers can either hire proactively or reactively and what to be aware of in each instance. The Amigos raise a variety of questions to think a...
May 19, 2022•24 min
In this tenth episode of the Dental Associate Agreements from an Associate’s Perspective Season, the Dental Amigos polled new and seasoned dentists to identify (and then answer) important “new dentist questions” to help prepare recent grads who are interviewing or starting their first jobs. Tune in and find out what questions new dentists have about being an associate in the “real world” of dentistry. Don’t miss the opportunity to hear experienced dentists share what they wish they knew prior to...
Apr 27, 2022•55 min
In this ninth episode of the Dental Associate Agreements from an Associate’s Perspective season, Rob and Paul discuss the best ways for associates to track their compensation to make sure they are being paid what they are due. The Dental Amigos begin by explaining how guarantees and draws factor into an associate’s compensation. Then, they discuss the importance of reviewing and keeping records of day sheets. Finally, the Amigos discuss how best to navigate tricky dental management software to e...
Apr 20, 2022•29 min
In this eighth episode of Dental Associate Agreements from an Associate’s Perspective Season, the Dental Amigos examine the idea of “clinician awareness” to help prepare new practitioners for their professional journey. The Amigos share their thoughts and experiences on how to approach and move through the interview process, as well as alternatives of the dreaded “clinical working interview” and other tips to help make an informed decision about whether a job opportunity is suitable both persona...
Apr 15, 2022•29 min
In the seventh episode of the Dental Associate Agreements from an Associate’s Perspective Season, the Dental Amigos discuss differences between working for DSOs and owner operators, especially when it comes to the actual associate contract. The Amigos chat about restrictive covenants, liquidated damages, notice provisions, termination clauses, and fringe benefits and some common differences between associate contracts with a DSO and with an owner operator that they’ve observed . Learn how purpos...
Apr 07, 2022•39 min
In this sixth episode of the Dental Associate Agreements from an Associate’s Perspective season, the Dental Amigos tackle one of the most hotly contested topics in associate contracts: restrictive covenants. Rob and Paul explain the different types of non-competition and non-solicitation covenants and how they affect an associate’s ability to practice dentistry. They discuss why it is vitally important for these covenants to be precise and well-defined in associate agreements to prevent conflict...
Mar 30, 2022•34 min
Join the Dental Amigos in their fifth episode of season 1, Dental Agreements from an Associate’s Perspective Season, as they explore different ways to avoid the traps associated with Term and Termination clauses in your Employment Agreement. Rob and Paul discuss how there is much more to terminating a contract than telling your employer you want to leave. The Amigos discuss the differences between terminating “for cause” and “without cause” and how better to be prepared for what’s to follow. In ...
Mar 23, 2022•24 min
In this fourth episode of Dental Associate Agreements from an Associate’s Perspective Season, the Dental Amigos discuss the difference between being an employee and an independent contractor, as well as the risks and benefits of both. Rob and Paul start off by touching on what it means to be treated as an employee, or in other words, a “W-2” and what it means to be treated as an independent contractor, which is often referred to as a “1099.” They also discuss what an associate should look for an...
Mar 16, 2022•23 min
In this third episode of Dental Associate Agreements from an Associate’s Perspective Season, the Dental Amigos discuss “compensation” and everything to be aware of as it relates to an associate’s first employment agreement. The Amigos discuss 3 typical compensation methods, percentage of collections, percentage of production and a fixed salary. Rob and Paul explain the pros and cons of each method, how better to protect yourself through an agreement with each, as well as how one option may be a ...
Mar 11, 2022•33 min
In this second episode of Dental Associate Agreements from an Associate’s Perspective Season, the Dental Amigos discuss “contractual awareness,” especially as it relates to an associate’s first employment agreement. The Amigos discuss how most contractual problems are preventable if the associate knows what a contract says, understands the context and ramifications of the language, clarifies any ambiguities, and is made aware of and understands the ongoing obligations that it imposes. Listeners ...
Mar 02, 2022•33 min
