Avoid These Top 5 Practice Transition Mistakes

The difference between a 40% and a 70% new patient conversion rate can quietly cost your practice tens of thousands of dollars a year.Most dental practices track how many new patient calls come in, but very few track what happens next. That's where the money leaks out. In this episode, Wes and Tyler break down the conversion rate benchmarks separating top-performing practices from average ones, the most common places practices lose potential patients, and the specific process changes that lift conversion without adding to your marketing budget. Whether you're actively trying to grow your practice or just want to keep the revenue you're already close to earning, this one's worth 30 minutes of your time. _____________________________________________________________________________Want to submit a question to be answered on the next episode? Submit it here or email us at [email protected]. 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. 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 Dr. Scott Menaker and Mario Santiago. 

On today's episode, Wes is joined by a special guest, David Mathews, Transitions Advisor at McGill and Lyon Practice Transitions. Wes & David sit down to discuss the top 5 mistakes they see doctors make when planning or executing their practice transition. Unfortunately, they've seen way too many doctors make these mistakes, which can be costly AND extend a doctor's time in practice. Plan ahead to ensure you don't make these mistakes, resulting in a smooth and efficient transition!____________________________________________________________________________Want to submit a question to be answered on the next episode? Submit it here or email us at [email protected]. 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. 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 Dr. Scott Menaker and Mario Santiago.

Wes and Mario are back for another episode recapping this month's newsletter! In August, we highlighted 10 topics dentists and specialists should be aware of to bring in more revenue, avoid costly mistakes, and cut down on costs. Wes and Mario highlight a great way to replace patients lost by dropping PPOs through purchasing patient charts from a retiring doctor. They also cover how to save on supply costs by using a buying group, saving on flights, promoting longevity benefits to improve treatment acceptance, and much more!_______________________________________________________________________________________________________________________Want to submit a question that will be answered on the next episode? Submit it here or email us at [email protected]. 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. 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 Dr. Scott Menaker and Mario Santiago.

On today's episode, Wes and Tyler sit down to discuss the 5 simple rules that wealthy dentists follow to build their wealth and maintain it. The good news? You don't have to be uber talented or intelligent to understand and follow these rules; they're really quite simple! The tricky part is sticking to them. But make these a priority, and you'll be on your way to financial freedom in no time! This podcast is just a preview of what our McGill & Lyon Dental Advisory members have access to every month. Consider this episode wading in the shallow end, where as our proprietary, members-only content is jumping into the deep end. If you're not subscribed to The McGill & Lyon Dental Advisory, you can sign up here so you ensure you're set up for financial success. Want to submit a question that will be answered on the next episode? Submit it here or email us at [email protected]. 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 Dr. Scott Menaker and Mario Santiago. 

On today's episode, Wes is joined by Ryan Strachan of DDS MediaPro, a marketing agency that specializes in helping dentists grow their practice online. Together, they discuss what effective dental marketing should look like and how practices can make smarter decisions when investing in their growth.Ryan and Wes dive into how marketing companies should track new patient acquisition, why monthly reporting and optimization are critical, and the risks of being locked into long-term marketing contracts. They also discuss the importance of maintaining an accurate Google Business Profile, generating patient reviews, and building a strong online presence through social media and pay-per-click advertising. The conversation also explores how AI is changing the marketing landscape and what dental practices need to know to stay competitive, visible, and prepared for the future.If you're interested in receiving your free online audit from DDS MediaPro, you can contact them here.Additionally, if you're not subscribed to The McGill & Lyon Dental Advisory, you can sign up here so you don't miss out on any of our content!_________________________________________________________________________________________________Want to submit a question that will be answered on the next episode? Submit it here or email us at [email protected] 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 Dr. Scott Menaker and Mario Santiago. 

Wes and Mario celebrate the 40th anniversary of The McGill & Lyon Dental Advisory with this special episode of Drilling It Down! To celebrate the anniversary, this episode is available to everyone! If you want to listen to the rest of the episodes and you're not a McGill & Lyon Dental Advisory member, you can sign up at newsletter.mcgillandlyon.com. We release these episodes monthly, and they feature our advisors taking a deeper dive into that month's newsletter articles.On this episode, Wes and Mario review the top 40 financial lessons learned over 40 years. They also discuss how to protect yourself from hackers and scams, how to increase patient referrals, and the likelihood of social security benefits being cut. Lastly, they talk about teaching children how to handle their money and the benefits of opening a Trump account for your child!_________________________________________________________________________________Want to submit a question that will be answered on the next episode? Submit it here or email us at [email protected]. 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.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.

The morning huddle may seem like a formality, but it can be one of your best tools to improve productivity in your dental office. Are you using it to its full advantage though? Wes and Liam sit down to discuss the morning huddle on today's episode, as well as other meetings you should be having in your practice to ensure everyone is on the same page and moving in the same direction.To chat with one of our advisors about your practice, contact us today!And stay on top of more practice management insights by reading our blog, subscribing to our newsletter, and attending one of our seminars!

Every dentist wants to convert as much business as possible. But are you and your staff taking all the right steps to ensure that becomes reality? On today's episode, Wes and Tyler sit down to discuss the 12 things that may be occurring in your practice that are killing your conversion rate. Some of them may seem like common sense, but they're worth investigating to ensure your patients are being given every opportunity to say "yes."To chat with one of our advisors about your practice, contact us today!And stay on top of more practice management insights by reading our blog, subscribing to our newsletter, and attending one of our seminars!

Most dentists are overpaying in taxes… and don’t even know it.One of the simplest (and completely legal) ways to reduce your tax bill? Paying your spouse through your dental practice.In this video, Wes and Tyler break down how this strategy works, why it’s so effective, and what you need to do to implement it correctly. Done right, this can mean thousands in tax savings, increased retirement contributions, and a smarter overall financial setup.You’ll learn:✔️ How employing your spouse actually saves money✔️ What the IRS requires (and what to avoid)✔️ How to structure it the right way✔️ Why most dentists never take advantage of thisIf you’re a dental practice owner looking to keep more of what you earn, this is a must-watch.To chat with one of our advisors about this tax saving strategy and others you should be using, contact us here.And stay on top of more tax saving strategies by reading our blog, subscribing to our newsletter, and attending one of our seminars!

Can you actually write off a car on your taxes? And if so, how do you do it legally?In this video, Wes and Mario break down how car tax write-offs really work, who qualifies, and the proper steps you need to take to stay compliant with IRS rules. Many business owners hear about writing off vehicles but don’t understand the requirements, documentation, and methods the IRS actually allows.If you’re a business owner, understanding vehicle deductions can potentially save you thousands in taxes, but only if you do it the right way.To chat with one of our advisors about your potential business deductions, contact us today!