Episodes

Are young dentists really facing a tougher time buying practices, and are DSOs making a comeback? The headlines may not tell the full story. In this episode, Wes and Tyler break down misleading claims surrounding SBA financing, practice acquisitions, and DSO restructuring. They explain what’s really happening in the dental marketplace, why some industry reports can be misleading, and what dentists should know before making major financial decisions. Whether you’re considering buying a practice,...

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...

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! _____________...

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 treatm...

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 m...

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 contr...

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 a...

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 managem...

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...

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 ac...

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, ...

Today's episode of Drilling It Down highlights Trump's One, Big, Beautiful, Bill and some of the impacts it will make to the tax law. Wes and Mario highlight the changes that will affect dentists' tax bills, some of the entertaining provisions of the bill, and how Trump did compared to promises he made during his election campaign. Tune in to discover how this will affect you! Charlotte Seminar: https://www.mcgillhillgroup.com/Seminar/4302/The-Roadmap-to-Financial-Wellness-and-Practice-Success ...

Drilling It Down is back in our brand new studio! Thank you for bearing with us as we work through all our technology upgrades! Today, Wes and Mario sit down to talk about a proposed tax bill, named "The One, Big, Beautiful Bill." Please note that this is just a proposed bill, and not set in stone yet. Mario and Wes discuss what MAY change for Americans if this bill is passed. Some changes include tax rates, 100% bonus depreciation, eradicating of clean vehicle credits, and more. While changes ...

On this episode of Drilling It Down, Wes and Tyler return to explore the intricacies of sale-leaseback arrangements, focusing on the dangers of inflated leases. Drawing parallels with the Toys R Us saga following its private equity buyout, they discuss how companies opt to sell real estate for immediate cash, often leading to financial downfall. They break down the pros and cons of sale-leasebacks, underscoring the risks when companies overreach in pursuit of capital. Tyler emphasizes robust res...

On this special episode of Drilling It Down, hosts Wes Lyon and Roger Hill dive into the complexities of partnership transitions within the dental industry. They begin by exploring common challenges partners face, often stemming from financial stresses and flawed operating agreements. Wes shares personal insights on the ramifications of unmet expectations, while Roger draws from his extensive consulting experience to underscore the value of meticulous planning and preparation before welcoming ne...

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 co...

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 n...

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...

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 exp...

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 inc...

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 scr...

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 u...

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...

Join Wes and Jonathan on this episode of Drilling It Down, where they discuss Dental Service Organizations (DSOs) with a focus on trends, tax considerations, and financial strategies. They explore challenges in selling dental practices, retirement planning, and leveraging technology for practice optimization. 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 ...