In this episode, I sit down with Dr. Zak Allmand—dentist, entrepreneur, and former Air Force officer—to explore his unique journey from military service to successful dental practice ownership. Dr. Allmand shares how his time in the Air Force shaped his leadership style and fueled his passion for building something of his own. We dive into the challenges he faced when stepping into ownership, how he overcame them, and the mindset shifts that helped him thrive as both a clinician and a business owner.

Our conversation takes a fascinating turn as Dr. Allmand discusses the creation of Apex Payment Solutions, a company he co-founded to offer dentists a more transparent, tailored approach to payment processing. He reveals the story behind Apex’s growth, the importance of finding the right business partner, and how aligning on mission and values has been key to their success. His perspective offers valuable lessons for any dentist looking to expand beyond the operatory.

We also unpack the role of technology in modern dental practices and how innovations can drive both efficiency and profitability. Dr. Allmand shares practical strategies for managing overhead and increasing your bottom line without compromising patient care. Whether you’re a practice owner or aspiring entrepreneur, this episode delivers insight, inspiration, and real-world advice you can put to work right away. This is part one of a two-part episode, so be sure to subscribe and stay tuned for even more in the next installment!

What you'll hear in this episode:

[00:40] Meet Dr. Zak Allmand: From Dentist to Entrepreneur

[01:30] Dr. Allmand's Journey: From Air Force to Practice Ownership

[02:40] Challenges and Strategies in Practice Ownership

[04:05] The Birth of Apex Payment Solutions

[06:25] Partnership Dynamics and Business Growth

[11:25] Innovations in Dentistry: Technology and Efficiency

[15:00] Managing Overhead and Increasing Profitability

Learn more about Apex Payment Solution's Services: apexpaymentsolutions.com

Email Zak: zak@apexpaymentsolutions.com

Schedule a time with Apex: Contact Form

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

Watch full episodes on YouTube: https://www.youtube.com/@Dentistmetrics

Follow us on Instagram: https://www.instagram.com/toothandcoin/

Follow us on X: https://x.com/ToothandCoin

Follow us on Facebook: https://www.facebook.com/toothandcoin/

Follow us on LinkedIn: https://www.linkedin.com/company/toothandcoin/

Follow us on TikTok: https://www.tiktok.com/@toothandcoin

Show Notes:

In this episode, I’m diving into a real-life business fraud case that serves as a wake-up call for practice owners everywhere. I’ll walk you through the shocking details of how one business fell victim to internal fraud—and the overlooked vulnerabilities that made it all too easy. As I break down this case, we’ll take a hard look at possible business banking security shortcomings that many dental and healthcare practices unknowingly expose themselves to every day.

One of the biggest misconceptions I tackle in this episode is the belief that your CPA is responsible for catching fraud. Preventing fraud is not a responsibility designated to CPA's from the AICPA. I’ll explain why relying on your accountant or bookkeeper for fraud prevention could be a dangerous mistake—and what you should be doing instead.

With so many practices increasingly dependent on online payment portals, the convenience comes at a price. The truth is, high online portal usage combined with low security measures creates the perfect storm for fraudsters. I’ll share what to look out for, where most practices drop the ball, and how to shore up your defenses without slowing down your operations.

What you'll hear in this episode:

[0:40] Real-Life Business Fraud Case

[1:50] Business Banking Security Flaws

[3:25] Preventive Measures for Fraud

[4:05] Preventing Fraud is Not a CPA's Responsibility

[5:50] High Online Portal Use

[6:40] Low Security Measure for Online Payment Portals

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

Watch full episodes on YouTube: https://www.youtube.com/@Dentistmetrics

Follow us on Instagram: https://www.instagram.com/toothandcoin/

Follow us on X: https://x.com/ToothandCoin

Follow us on Facebook: https://www.facebook.com/toothandcoin/

Follow us on LinkedIn: https://www.linkedin.com/company/toothandcoin/

Follow us on TikTok: https://www.tiktok.com/@toothandcoin

In this episode, I dive deep into one of the most critical yet overlooked components of running a financially successful dental practice—knowing your numbers. Specifically, we’re breaking down how to understand your breakeven point, why it matters, and how it directly influences your profitability. If you've ever wondered what it truly takes for your practice to stay in the black, this episode is your blueprint.

I walk you through how to calculate your daily collections goal with clarity and purpose. It’s not just about throwing a number on the wall and hoping to hit it—this is about reverse engineering your success. From there, we take it a step further and break down those daily goals by department, giving you a clearer picture of where each segment of your practice needs to perform in order to meet and exceed your financial objectives. Whether it's hygiene, restorative, or specialty services, every department plays a crucial role in your practice’s financial ecosystem.

We also explore common challenges that may arise as you implement these strategies, from inconsistent collections and staff accountability to patient scheduling, and how to proactively address them without derailing your momentum. Running a dental practice means facing numbers head-on, and in this episode, I share practical insights and tools to help you take control of your financial future with confidence.

If you’re ready to stop guessing and start growing, hit play and join me for a focused, no-fluff conversation that will change the way you think about your practice’s daily performance. Don’t miss this chance to sharpen your strategy and take a big step toward financial clarity on The Tooth and Coin Podcast.

What you'll hear in this episode:

[0:05] Understanding Your Breakeven Point

[1:20] Calculating Your Daily Collections Goal

[3:25] Breaking Down Daily Goals by Department

[4:55] Addressing Potential Challenges

[5:35] Conclusion and Final Thoughts

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

Watch full episodes on YouTube: https://www.youtube.com/@Dentistmetrics

Follow us on Instagram: https://www.instagram.com/toothandcoin/

Follow us on X: https://x.com/ToothandCoin

Follow us on Facebook: https://www.facebook.com/toothandcoin/

Follow us on LinkedIn: https://www.linkedin.com/company/toothandcoin/

Follow us on TikTok: https://www.linkedin.com/company/toothandcoin/

Let's dive into one of the most foundational and often overlooked aspects of building a successful dental practice: setting and aligning your business and financial goals. Today, we’re getting real about what it takes to thrive not just as a clinician, but as a business owner. We’ll kick things off by defining your business goals and uncovering why having a clear vision is critical for long-term success. From there, we’ll explore how your financial targets and net worth goals should guide your decision-making from day one. Whether you’re aiming to build a multi-location DSO or a lean, high-profit solo practice, choosing the right practice model is key.

But it’s not all spreadsheets and strategy—running a practice comes with its fair share of challenges. We’ll talk through common pitfalls in practice management that can derail even the most ambitious plans, and I’ll share ways to overcome them with practical, actionable advice. Just as importantly, we’ll discuss how to regularly evaluate and adjust your goals as your practice grows and your life priorities evolve. And of course, we can’t ignore the critical role financial planning plays in tying all these elements together. Without a solid financial framework, even the best clinical skills and business ideas can fall short.

What you'll hear in this episode:

[0:40] Defining Your Business Goals

[1:25] Financial Targets and Net Worth

[2:15] Choosing Your Practice Model

[4:45] Income Expectations for Different Models

[7:50] Challenges in Practice Management

[8:55] Evaluating and Adjusting Your Goals

[13:45] The Role of Financial Planning

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

Watch full episodes on YouTube: https://www.youtube.com/@Dentistmetrics

Follow us on Instagram: https://www.instagram.com/toothandcoin/

Follow us on X: https://x.com/ToothandCoin

Follow us on Facebook: https://www.facebook.com/toothandcoin/

Follow us on LinkedIn: https://www.linkedin.com/company/toothandcoin/

Follow us on TikTok: https://www.linkedin.com/company/toothandcoin/

In today’s episode, we’re exploring the essential topic of managing dental supplies effectively. I’ll walk you through key industry standards for dental practices follow to ensure smooth operations and cost efficiency. From understanding bulk pricing and quality control to knowing when it’s time to break from the norm, I’ll help you navigate the complexities of purchasing. We’ll also discuss strategies for budgeting your supplies, making sure you’re spending wisely without sacrificing quality or patient care.

But it doesn’t stop there. Managing dental supplies also means reducing waste and improving overall efficiency. I’ll share tips for price checking, evaluating top purchases, and optimizing your supply chain to save money while reducing unnecessary waste. Whether you're a seasoned dental professional or just starting out, this episode provides actionable insights to help you streamline your practice’s operations and boost your bottom line. Tune in for expert advice on how to manage your dental supplies with confidence and make smarter financial decisions along the way!

What you'll hear in this episode:

[00:30] Understanding Dental Supply Industry Standards

[02:45] Exceptions to the Rule

[06:50] Budgeting for Dental Supplies

[10:00] Top Purchases and Price Checking

[11:55] Managing Waste and Efficiency

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

Watch full episodes on YouTube: https://www.youtube.com/@Dentistmetrics

Follow us on Instagram: https://www.instagram.com/toothandcoin/

Follow us on X: https://x.com/ToothandCoin

Follow us on Facebook: https://www.facebook.com/toothandcoin/

Follow us on LinkedIn: https://www.linkedin.com/company/toothandcoin/

Follow us on TikTok: https://www.linkedin.com/company/toothandcoin/

In this episode I explore one of the foundational tools every dental practice owner needs—a strong business plan. We’ll start with the basics: what a business plan is and why it’s essential in the dental industry. From securing financing and setting clear goals to guiding daily operations and long-term growth, a well-crafted business plan can be the difference between surviving and thriving in a competitive market.

We also dig into the pros and cons of engaging a professional to help build your business plan, and why your personal involvement in the process is still key—even if you hire an expert. I share how modern business planning software and AI tools are making it easier than ever to get started. Plus, I walk you through how to create a plan live with AI, including the kinds of questions AI asks to personalize your strategy and help you think through the critical elements of your practice’s future.

To wrap it all up, I break down three flexible methods for creating your plan: doing it yourself, hiring a pro, or using AI-powered solutions. No matter your experience level or where you’re at in your practice journey, this episode will give you the tools and insights to take control of your business direction. Tune in to learn how to turn your vision into a real, results-driven strategy.

What you'll hear in this episode:

[01:10] Purposes for a Business Plan in the Dental Industry

[02:55] Engaging a Professional for Your Business Plan

[04:15] The Value of Being Involved in Crafting a Business Plan

[08:25] Using Software Tools for Business Planning

[11:20] Creating a Business Plan with AI Live

[13:55] Questions AI Asks to Assist in Business Planning Process

[18:05] Recap of Three Optional Methods to Craft a Business Plan

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

Watch full episodes on YouTube: https://www.youtube.com/@Dentistmetrics

Follow us on Instagram: https://www.instagram.com/toothandcoin/

Follow us on X: https://x.com/ToothandCoin

Follow us on Facebook: https://www.facebook.com/toothandcoin/

Follow us on LinkedIn: https://www.linkedin.com/company/toothandcoin/

Follow us on TikTok: https://www.linkedin.com/company/toothandcoin/

This high-stakes tax evasion case has been making waves across financial and dental circles alike. We kick things off with a behind-the-scenes look at how the case first unfolded—tracing the breadcrumbs that led investigators to uncover a complex web of deception. I walk you through newly released court documents and the official indictment details, breaking down the legal jargon so you can understand exactly what went wrong—and why it matters.

Next, we dive into the mechanics of the tax scheme itself. You’ll learn how the individuals involved used a series of trusts and business entities to move money, obscure income, and ultimately avoid paying their fair share of taxes. I’ll highlight how these tools, when misused, can cross ethical and legal boundaries, even though they’re perfectly legitimate when used correctly.

One of the most shocking elements of the case was the role of the CPA, who raised red flags early on—only to be ignored. I share insights into the warnings issued, the consequences faced by everyone involved, and what this means for professionals who find themselves in similar positions.

As we wrap up the episode, I offer some key takeaways and actionable lessons to help you, whether you're a dentist, business owner, or financial professional, stay on the right side of compliance. This case isn’t just about fraud—it’s a cautionary tale that underscores the importance of transparency, trusted advisors, and understanding the structures you put in place for your business. Tune in to learn, reflect, and protect your practice.

What you'll hear in this episode:

[0:03] The Tax Evasion Case Unfolds

[2:08] Court Documents and Indictment Details

[4:32] The Role of Trusts and Entities

[8:45] The CPA's Warning and Consequences

[16:40] Lessons Learned and Final Thoughts

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

Watch full episodes on YouTube: https://www.youtube.com/@Dentistmetrics

Follow us on Instagram: https://www.instagram.com/toothandcoin/

Follow us on X: https://x.com/ToothandCoin

Follow us on Facebook: https://www.facebook.com/toothandcoin/

Follow us on LinkedIn: https://www.linkedin.com/company/toothandcoin/

Follow us on TikTok: https://www.linkedin.com/company/toothandcoin/

These key financial concepts are essential for understanding and improving the financial health of your practice. We start by exploring discretionary expenses—those costs that are optional but can add up quickly. We also dive into the all-important profit and loss statement, breaking down how to interpret this report and how understanding it can empower you to make informed decisions that drive profitability.

Next, we turn to custom management reports, which offer a more tailored, in-depth view of your practice’s performance. These reports allow you to track and analyze financial data specific to your needs, ensuring you’re making the most of every dollar. We’ll also discuss the concept of the break-even point—a crucial metric for understanding when your practice is fully covering its costs and starting to turn a profit. Along with this, we’ll touch on the importance of cash flow analysis, which is essential for managing the inflow and outflow of funds, ensuring your practice stays financially stable even during unpredictable times.

To wrap things up, we’ll cover benchmarking and how comparing your practice’s financial performance to industry standards can provide valuable insights to help you stay competitive. If you're ready to gain deeper control of your financials and position your practice for long-term success, this episode is packed with insights you won’t want to miss! Tune in now for expert tips and strategies you can implement today.

What you'll hear in this episode:

[1:20] Discretionary Expenses and Normalizing Financials

[2:30] Understanding Profit and Loss

[6:25] Custom Management Reports

[7:25] Break-Even Point and Cash Flow Analysis

[10:00] Benchmarking and Financial Performance

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

Watch full episodes on YouTube: https://www.youtube.com/@Dentistmetrics

Follow us on Instagram: https://www.instagram.com/toothandcoin/

Follow us on X: https://x.com/ToothandCoin

Follow us on Facebook: https://www.facebook.com/toothandcoin/

Follow us on LinkedIn: https://www.linkedin.com/company/toothandcoin/

Follow us on TikTok: https://www.linkedin.com/company/toothandcoin/