In part 2 of our private equity discussion, Wes and Mario explore the complex relationship between private equity and dentistry, highlighting its implications for dental practices. They address concerning trends such as overtreatment driven by management pressure. They then discuss the ethical challenges of prioritizing profit over patient care. Through personal anecdotes, they emphasize the importance of seeking second opinions and informed decision-making. They also examine the structure of corporate dental practices and provide guidance for dentists considering working for dental service organizations (DSOs).

Want to submit a question that will be answered on the next episode? Submit it here or email us at newsletter@mcgillhillgroup.com.

If you're not already, subscribe to The McGill & Lyon Dental Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off!

Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

On this episode of Drilling It Down, Wes and Mario dissect the intricate world of private equity, particularly its repercussions for the dental sector. The discussion is initiated by the thought-provoking article "Slash and Burn: Is Private Equity Out of Control?" which serves as a catalyst for examining the dual nature of private equity investments. Mario reveals that these investments may not yield superior returns compared to traditional options such as low-cost index funds, challenging the narrative of private equity as a surefire wealth generator. The hosts further clarify how private equity firms typically utilize considerable debt to acquire businesses, often placing financial strain on the companies involved. They cite examples of major brands like Toys R Us and Sears, which collapsed under the weight of leveraged buyouts. Emphasizing transparency, Wes highlights the often concealed fees that diminish true investor returns, raising questions about the overall benefit of private equity in various industries. Wes and Mario address the controversial carried interest loophole that allows private equity insiders to pay lower taxes than ordinary earners, contributing to economic disparity.

Want to submit a question that will be answered on the next episode? Submit it here or email us at newsletter@mcgillhillgroup.com.

If you're not already, subscribe to The McGill & Lyon Dental Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off!

Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

On this special episode of Drilling It Down, hosts Wes Lyon and Tyler Ott tackle a critical issue for business owners concerning a substantial $5.54 billion credit card settlement resulting from class action lawsuits against Visa, MasterCard, and several banks for price-fixing from 2004 to 2019. With a deadline of February 4, 2025, they urge listeners to take immediate action to claim their share of the settlement. Wes and Tyler outline the origin of these lawsuits, highlighting the significance of the settlement for businesses that processed payments via the mentioned credit cards. They assure listeners that this is a legitimate opportunity to recover losses from inflated fees and direct them to paymentcardsettlement.com to file a claim. The hosts also discuss potential challenges in the claims process, emphasizing the importance of meticulous financial records and providing strategies for retrieving necessary transaction data if initially unavailable. As they emphasize the urgency of acting quickly, listeners are encouraged to sign up for the McGill & Lyon Dental Advisory newsletter for ongoing updates and insights into the settlement process. This episode is an invaluable resource for business owners, packed with vital information about accessing untapped revenue from a significant class action settlement.

Want to submit a question that will be answered on the next episode? Submit it here or email us at newsletter@mcgillhillgroup.com.

If you're not already, subscribe to The McGill & Lyon Dental Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off!

Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

In this special episode of Drilling It Down, Wes and Tyler delve into the intricate world of taxation in the wake of recent election outcomes. Initially set to deliver a detailed analysis dubbed "The Great Tax War," the hosts pivot to discuss the repercussions of a potentially unified Republican government on future tax policies. They unpack the ramifications of the continuation of tax reforms initiated during the Trump administration, particularly concerning individual tax provisions set to expire in 2025. Lyon and Ott explore the significance of the Tax Cuts and Jobs Act, highlighting the urgent need for small business owners and professionals to comprehend tax strategies that minimize liabilities. They emphasize the importance of the Qualified Business Income Deduction (QBI) and its nuanced impact on profitability within dental practices and small businesses. With an eye on proactive tax planning, the duo encourages listeners to develop a written tax plan and seek expert guidance. As they wrap up with levity surrounding the post-election climate, Lyon and Ott inspire optimism for potential tax reductions while reminding their audience of the importance of preparation amidst economic uncertainties.

Want to submit a question that will be answered on the next episode? Submit it here or email us at newsletter@mcgillhillgroup.com.

If you're not already, subscribe to The McGill & Lyon Dental Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off!

Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

On this episode of Drilling It Down, Liam and Wes tackle the crucial topic of business owner policies in light of recent hurricanes, emphasizing preparedness for natural disasters. Wes shares personal experiences to highlight the disruption hurricanes can cause to everyday business operations. The hosts delve into aspects of insurance coverage, stressing the importance of comprehensive policies that cover physical damage and business interruption. They discuss the significance of documenting incidents to support claims and clarify the distinctions between replacement cost and actual cash value. The conversation extends to contingent business interruption insurance, addressing potential supply chain losses and service interruptions due to utility failures. They also outline civil authority coverage and the challenges posed by recent pandemic experiences on claims processes. Throughout the episode, Liam and Wes advocate for prompt claims filing, diligent documentation of recovery efforts, and the necessity of persistence if claims are denied. They encourage business owners to periodically review their insurance needs to adapt to changing conditions. This episode serves as an essential guide for business owners, particularly in hurricane-prone regions, underscoring the importance of being proactive in their insurance strategies.

Want to submit a question that will be answered on the next episode? Submit it here or email us at newsletter@mcgillhillgroup.com.

If you're not already, subscribe to The McGill & Lyon Dental Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off!

Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

On this episode of Drilling It Down, Liam and Wes explore Indexed Universal Life (IUL) insurance, dissecting its complexities and common misconceptions. They clarify how IULs differ from term life insurance and critique the misleading marketing that positions them as safe investment vehicles. They examine eight key issues associated with IULs, highlighting the risks of embellished growth illustrations and the reality of loan implications against cash values. Emphasizing the need for thorough scrutiny, they advocate for conventional investment options that typically yield better returns. Join us for insights that equip you to make informed financial decisions regarding IULs.

Want to submit a question that will be answered on the next episode? Submit it here or email us at newsletter@mcgillhillgroup.com.

If you're not already, subscribe to The McGill Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off!

Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

In this episode of Drilling It Down, Jonathan and Wes speak about the importance of preparing for catastrophic events, including death and disability. They discuss life insurance—how to determine necessary coverage and the benefits of term policies over permanent ones. Wes emphasizes the need for disability insurance, particularly for dentists, and outlines options for obtaining it. They also highlight the importance of structured plans for practice transitions, ensuring a reliable contact for unforeseen circumstances. Lastly, they address the emotional impact of sudden loss and the necessity of proactive planning to ease burdens on loved ones.

Want to submit a question that will be answered on the next episode? Submit it here or email us at newsletter@mcgillhillgroup.com.

If you're not already, subscribe to The McGill Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off!

Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.

In this episode of "Drilling It Down," Wes and Jonathan discuss the decline in dental practice ownership among younger doctors, dropping from 33% in 2020 to about 20% now, largely due to the appeal of Dental Service Organizations (DSOs). They explore the recent 30% increase in in-house inquiries for practice acquisitions, signaling a renewed interest in ownership. The conversation dives into the financial fears tied to student debt, the drawbacks of the “delayed sale” approach, and the continued viability of selling a practice. They encourage listeners to consider their options in the evolving dental marketplace.

Want to submit a question that will be answered on the next episode? Submit it here or email us at newsletter@mcgillhillgroup.com.

If you're not already, subscribe to The McGill Advisory newsletter to keep up with all the articles mentioned in our episodes, as well as a plethora of other content. Use code Podcast20 for 20% off!

Listen to our sister show, Next Gen DDS! An all-in-one resource for dental students, residents, and early career doctors, discussing both clinical and business aspects of dentistry, hosted by Wes Lyon and Dr. Scott Menaker.