In this episode of Drilling It Down, host Wes Lyon welcomes Liam Fitzgerald to discuss a series of articles. They primarily focus on the issue of PPOs (Preferred Provider Organizations) and the impact they have on dental practices. They mention that the value of a practice can be impacted by how money is handled, particularly when it comes to writing off expenses and dealing with insurance companies. Effective communication with patients regarding insurance changes is also highlighted, and success stories of young doctors who have purchased practices and implemented new models that patients appreciate are shared. The financial and time-related benefits of reducing reliance on PPOs are discussed, as well as the negative impacts of not paying attention to insurance-related matters.

The conversation then transitions to a discussion about the Employee Retention Credit (ERC) and how some dentists are claiming large sums of money without a clear understanding of how they became eligible for such amounts. The hosts advise listeners to consult with their CPA and not trust promoters who claim to have a better understanding of the rules. They explain the conditions to be met in order to qualify for the ERC and caution against fraudulent claims.

They also discuss the potential impact of rising interest rates on sectors such as auto dealers and commercial real estate. The hosts stress the importance of providing a good experience for dental patients and being flexible with payments during a potential recession. They urge caution when assuming everyone has the same financial stability as before and emphasize the need for a good plan to navigate through a recession.

Diversification in investment portfolios is encouraged, with an emphasis on non-correlated assets and investments in small and mid-sized companies. The importance of bonds in providing stability during a poor sequence of returns is also highlighted. They further discuss the importance of choosing high-quality bonds with short to intermediate terms and

caution against reaching for higher yields by buying individual bond certificates. The importance of assessing the diversification, asset allocation, and actual holdings of bond funds is stressed to ensure they serve their purpose as a safety net for portfolios.