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On this episode, Scott and Wes tackle the essential yet challenging topic of goal setting in the dental profession. They discuss the significance of establishing realistic and motivating goals for professional growth. Dr. Menaker shares his transformative journey from skepticism to advocacy for effective goal setting, highlighting the important belief of accountability within teams. They offer practical strategies, such as using visual reminders, and stress the need for regular goal discussions to boost morale and ensure progress. The conversation emphasizes the value of writing down goals to foster commitment, encapsulated in the mantra “what gets written gets worked on.”
Want to submit a question that Wes and Scott will answer on the next episode? Submit them here or email us at [email protected].
If you're not already, subscribe to The McGill and Lyon Dental Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.
Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.
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On this episode, Dr. Scott Menaker and Wes Lyon explore the complex role of dentists as both practitioners and CEOs. They discuss the unique challenges dental practice owners face in balancing clinical duties and leadership responsibilities. Dr. Menaker reflects on the necessity of effective time management, delegation, and the importance of making difficult staffing decisions for team harmony and business efficiency. The conversation emphasizes the need for clear communication, fostering trust, and creating an environment conducive to feedback. Wes and Scott share strategies for strategic thinking and encourage a growth mindset within dental practices. Ultimately, they advocate for practice ownership as a path to personal and financial fulfillment, providing valuable insights for those navigating the intricacies of being a dentist and a business leader.
Want to submit a question that Wes and Scott will answer on the next episode? Submit them here or email us at [email protected].
If you're not already, subscribe to The McGill and Lyon Dental Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.
Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.
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On this episode of NextGenDDS, Wes and Scott explore the complex landscape of dental insurance and its historical evolution since the mid-1980s. They discuss how the initial perception of dental insurance as a patient benefit has transformed into a reimbursement-focused model that imposes significant restrictions on fees, impacting both earnings and patient care. The conversation highlights the challenges practices face with reduced maximum payouts and the implications of being in-network vs. out-of-network providers. Wes and Scott share insights on practice management strategies that can enhance profitability while prioritizing patient experience. They emphasize the importance of transparency in communicating the value of dental services and preparing young dentists to navigate these complexities effectively.
Want to submit a question that Wes and Scott will answer on the next episode? Submit them here or email us at [email protected].
If you're not already, subscribe to The McGill and Lyon Dental Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.
Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.
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In this episode, Wes and Scott discuss the importance of caution when considering enticing investment opportunities. They cover the hidden risks in high-return propositions, such as whole life insurance, annuities and DSO partnerships, emphasizing the need for thorough research and expert advice. By advocating for due diligence and prudent decision-making, Wes and Scott aim to steer listeners away from unrealistic promises and towards long-term financial security.
Want to submit a question that Wes and Scott will answer on the next episode? Submit them here or email us at [email protected].
If you're not already, subscribe to The McGill Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.
Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.
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Today, Scott and Wes explore the lesson of avoiding snap judgments and embracing empathy through a touching patient story. Stressing the importance of listening, providing options, and showing respect to all, they highlight the lasting impact of our interactions with others. They urge a mindful, graceful approach in all encounters, emphasizing understanding and refraining from quick assessments.
Want to submit a question that Wes and Scott will answer on the next episode? Submit them here or email us at [email protected].
If you're not already, subscribe to The McGill Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.
Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.
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Wes and Scott explore digital dentistry in this episode, focusing on CEREC machines and the shift to digital workflows. Discover the financial benefits, the significance of training staff, and the importance of embracing digital technologies for enhanced patient experiences and long-term success in dental practices.
Want to submit a question that Wes and Scott will answer on the next episode? Submit them here or email us at [email protected].
If you're not already, subscribe to The McGill Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.
Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.
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In this discussion, Wes and Dr. Menaker explore key strategies for dentists to elevate their procedures and enhance the patient experience. They cover topics like efficient anesthetic techniques, innovative tools such as the intraligamental syringe, and the importance of proper crown preparation.
Want to submit a question that Wes and Scott will answer on the next episode? Submit them here or email us at [email protected].
If you're not already, subscribe to The McGill Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.
Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.
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In this episode, Wes and Scott discuss the importance of following rules in a dental practice to maintain efficiency and quality. The speakers emphasized understanding the reasons behind protocols, both clinical and administrative, and the repercussions of not adhering to them.
Want to submit a question that Wes and Scott will answer on the next episode? Submit them here or give us a call at 704.424.9780.
If you're not already, subscribe to The McGill Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.
Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.
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In this episode of Next Gen DDS, we discuss interview preparation for dental students seeking jobs. We highlight the importance of being well-prepared, dressing appropriately, conducting oneself professionally, and researching the potential employer. Asking thoughtful questions and showing genuine interest in the practice can set you apart.
Wes and Scott emphasize the need to cover various topics during the interview, including patient flow and growth opportunities. If you'd like to learn more, you can set up a free 30-minute call with us for further questions! We want to help you land the most desirable job possible.
Want to submit a question that Wes and Scott will answer on the next episode? Submit them here or give us a call at 704.424.9780.
If you're not already, subscribe to The McGill Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.
Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.
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In this episode of Next Gen DDS, we discuss the importance of dressing appropriately for a job interview. We emphasize the significance of making a good first impression and recommend
overdressing, even wearing a suit if possible.
Punctuality is also crucial, as being late can result in immediate disqualification. We also highlight the importance of treating all employees with respect and suggest writing a handwritten thank you card after the interview to stand out from other candidates. Tune in to our next episode as we dive into interview questions and conduct.
Want to submit a question that Wes and Scott will answer on the next episode? Submit them here or give us a call at 704.424.9780.
If you're not already, subscribe to The McGill Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.
Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.
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On this episode of Next Gen DDS, we explore the impact of AI on the financial industry. We discuss the benefits and limitations of AI in investments and emphasize the importance of knowledgeable advisors in complex financial planning. We highlight the need for dentists to find a financial advisor who understands their specific needs and goals. We stress the significance of choosing the right help for practice owners and the indispensability of human expertise in maximizing financial success.
Want to submit a question that Wes and Scott will answer on the next episode? Submit them here or give us a call at 704.424.9780.
If you're not already, subscribe to The McGill Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.
Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.
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In this episode, Wes and Scott dive into stress in the dental profession. We explore its sources and impact on your career, finances, and personal well-being. We provide practical advice on managing stress, reducing failures in procedures, and handling financial stress. By understanding stress, acquiring skills, and making wise decisions, dental professionals can thrive under reduced stress levels.
Want to submit a question that Wes and Scott will answer on the next episode? Submit them here or give us a call at 704.424.9780.
If you're not already, subscribe to The McGill Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.
Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.
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In this episode, Wes and Scott dive into the topic of effective communication with dental patients and how it can make a huge difference in their overall experience and also your treatment acceptance rate.
Many dentists struggle to convince hesitant patients to proceed with treatment because they tend to over-explain in technical terms that patients don't understand. It's crucial for dentists to ask better questions, listen to patients' concerns, and tailor the communication to their specific needs and desires.
Want to submit a question that Wes and Scott will answer on the next episode? Submit them here or give us a call at 704.424.9780.
If you're not already, subscribe to The McGill Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.
Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.
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In this episode, Wes and Scott discuss the two main options for dentists in their careers: working as an associate or purchasing a practice. Which is more profitable for dentists in the long run? Listen to find out.
Along with the financial implications, there are many other considerations when it comes to owning or not, such as owner perks, being a boss and HR management, having to work ON the practice, as well as others.
Want to submit a question that Wes and Scott will answer on the next episode? Submit them here or give us a call at 704.424.9780.
If you're not already, subscribe to The McGill Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.
Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.
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In this episode of Next Gen DDS, Wes and Scott discuss what young doctors should be doing with their first paycheck. For most doctors, their first paycheck will be the largest sum of money they've gotten at one time, so it's important to make sure you're doing the right things with it to set yourself up for success.
How much should you be saving? What's the best way to save for retirement? Is it okay to be regularly financing your purchases? What insurance coverages does a doctor need?
All these questions and more will be answered on this episode!
Want to submit a question for Wes and Scott to answer on the next episode? Submit them here or give us a call at 704.424.9780.
If you're not already, subscribe to The McGill Advisory newsletter to stay up-to-date on all things practice management, tax saving, and more! Students and residents- sign up for your FREE membership here.
Listen to our sister show, Drilling It Down! Listen as our expert advisors break down pertinent business topics for dentists and specialists, including investment commentary, reaching financial independence, and how to run an efficient practice.
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In this episode, Wes and Scott dive into the topic of corporate dental practices compared to private practices. They highlight that both have their own advantages and it's important to understand the differences between them. As always, it's important to consider
personal preferences and individual circumstances when making career decisions such as whether to go corporate or private.
Wes and Scott also touch upon potential challenges in corporate dental groups, such as treatment philosophies and the potential for clawbacks if production goals are not met. Overall, it's crucial to have a clear understanding of one's long-term goals and assess the pros and cons of different practice settings.
In the next episode, we will explore how to wisely manage and utilize your first paycheck as a dentist. Stay tuned!
If you're not already, subscribe to The McGill Advisory newsletter to stay up-to-date on all things business! Students and residents- sign up for your FREE membership here.
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Welcome to our first episode! Today, Scott and Wes delve into the topic of financial goals for young dentists after they graduate, specifically regarding how to select a first job out of school.
Scott and Wes give three practical tips on what to look for when trying to find an associateship to keep both your finances in order and also ensure you're growing as a doctor.
Our ultimate goal is to guide young dentists in making sound clinical, business, and financial
decisions that will set them on a path to success. It's important to consider not only the short-term financial gain, but also the long-term benefits that come with finding the right mentor and practice.
FREE McGill Advisory Membership for Students and Residents
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Welcome to Next Gen DDS! Join co-hosts Wes Lyon and Scott Menaker as they discuss the most pertinent business, financial, AND clinical topics for dental students, residents, and early-career dentists.
As co-hosts, Wes Lyon and Dr. Scott Menaker bring their combined 40 years of expertise to the podcast. Wes Lyon of McGill and Hill Group specializes in providing optimal financial results for dentists nationwide. Dr. Scott Menaker, who recently retired after a diverse and busy career, brings a clinical perspective to the show. He has also worked as a consultant, trainer, and author.
The goal of Next Gen DDS is to support and guide young dentists in their new careers, both financially and clinically, through 15 to 20 minute episodes on various topics. By sharing their experiences, Wes and Scott aim to help dentists understand the "why" factors of growing a successful dental practice, being financially responsible, and continuously learning. Tune in to gain valuable insights and succeed in your dental journey.
