The Noobie Dentist Podcast – Albert Gigl & Craig Spiegel
Episode Run Time: 00:52:09
Intro
Today, I talk to Albert Gigl from MW Partners and Craig Spiegel from Credabl. MW Partners Specialist Dental Accountants provides financial planning and legal services to dentists. Their team of qualified accountants have decades of experience in helping dental practices and dentists with taxes, bookkeeping, and other business solutions. Meanwhile, Credabl specializes in healthcare finance. With their industry specific knowledge, Credabl meets the needs of healthcare practitioners through specialized lending.
In this interview we talk about financial planning and the sequencing of major purchases. We also discuss suggested accounting set-ups for a practice, and the common mistakes aspiring practice owners should avoid.
Guest Details
Albert Gigl
https://www.mwpartners.com.au/
LinkedIn: Albert Gigl LinkedIn
Craig Spiegel
https://www.credabl.com.au/
LinkedIn: Craig Spiegel LinkedIn
Time Stamps
[08:01] Should you purchase a practice or a house first?
[11:16] Getting a practice loan when you have a mortgage
[14:53] Financing a car and timing your purchase
[21:30] How to structure a practice’s accounting and finance
[26:22] Service Facility Agreement & GST
[30:30] Payment structure for practice owners
[33:20] Factors that lenders consider before approving a loan
[37:34] Common mistakes by practice owners
[42:58] Things to consider before starting own practice
[45:50] Summary of key points
[46:41] Consider rural dentistry practice
[48:04] Get specialised help
Podcast Details
As always, if you enjoyed listening to the Noobie Dentist Podcast, please pass
the podcast along to your friends, classmates and colleagues. If you haven’t already, head
over to iTunes and give the show a 5-star rating and if you have some time, leave a review!
The Noobie Dentist podcast is now available on Spotify, YouTube, noobiedentist.com, the Apple
podcast app, Stitcher and any other podcast apps out there!
Website: http://www.noobiedentist.com
Instagram: @noobiedentist
Sponsor Details
If you need finance, be it for your personal or professional needs, the team at Credabl know the drill. From home loans and car loans to equipment and fit out loans, or even commercial properties and practice purchases, the medical finance specialists at Credabl will provide a tailored solution for you.
To find out more, visit www.credabl.com.au
Conclusion
Would you purchase a practice or a house first? Did you find Albert and Craig’s insights useful? We would love to hear your thoughts!
Remember to subscribe for more content!
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Podcast Updates and Upcoming projects
Dental Implant Mini Audio Residency Episode 5: Implementing Implant Dentistry into Your Practice with Kane Southwell
Past Favourite (re-broadcast) - Endo 101 with Endodontist Dr. Stephanie Tran
Financial Mini-Series Episode 4: The Financial Blueprint for the Young Dentist with Stafford Hamilton
Past Favourite (re-broadcast) - Restorative Dentistry with Dr. Omar Rakeen
Dental Implant Mini Audio Residency Episode 4: Restoring and Maintaining Dental Implants with Dr. Varun Garg
Reflecting back on 100 Episodes of the Noobie Dentist Podcast
Dental Implant Mini Audio Residency Episode 3: Guided and Digital Implant Dentistry with Dr. Dr Harris Schlen
Mastering Dentistry Series Episode 5: Oral Surgery and Third Molar Extractions with Dr. Nekky Jamal
Dental Implant Mini Audio Residency Episode 2: Patient Assessment and Surgical Implant Placement with OMFS Dr. Nu Dastaran
Dental Implant Mini Audio Residency Episode 1: Implants for the General Dentist with Dr. Leighton Phu
Financial Mini Series Episode 2: Scratch Practice vs Purchasing an Existing Practice with Kelly Gall and Kent Desarmia
Financial Mini Series Episode 1: Good Debt, bad Debt with Glen Stewart
Power of Social Media, Oral Surgery for the general dentist and much more with Dr. Amir T (@therealtoothdr2.0)
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