Navigating the Financial Landscape: Real Talk on the Hey Docs! Podcast

In this episode of the Hey Docs! Podcast, Jill Allen sits down with returning guest Matthew Kroeker, Senior Vice President and Regional Business Development Officer at Bank of America, to break down what orthodontists actually need to know about money, lending, and practice ownership right now.

From residency to ownership and startups to acquisitions, this conversation cuts through the noise and focuses on what matters in today’s lending environment and how to prepare for it with confidence.

Financial Planning Starts Earlier Than You Think

Jill opens the episode with a message she shares often with doctors. Financial success does not start when you are ready to sign loan documents. It starts much earlier. Matt brings more than 15 years of experience working with dental professionals nationwide and explains how early financial habits can either open doors later or quietly close them.

The takeaway is simple. The right tools, the right guidance, and the right timing make all the difference.

What’s Really Happening in Today’s Lending Environment

Interest rates may feel like the headline, but Jill and Matt make it clear that rates are only one piece of the puzzle. Understanding how lenders are evaluating opportunities today is key, whether you are considering a startup, an acquisition, or simply planning ahead.

Each path has different financial expectations, risks, and advantages. Knowing how they are viewed by lenders helps doctors make smarter, more strategic decisions.

Smart Money Moves for Early-Career Orthodontists

For residents and younger orthodontists, Matt shares advice that often gets overlooked. Personal finances matter more than many realize. Credit card debt, savings habits, and lifestyle choices all play a role in future borrowing power.

Small decisions made early, such as keeping balances low and being intentional with spending, can have an outsized impact when it is time to pursue ownership.

Startup or Acquisition? It’s Not a One-Size-Fits-All Answer

One of the biggest decisions aspiring owners face is whether to build from scratch or buy an existing practice. Jill and Matt walk through both options honestly.

Startups offer control, flexibility, and the ability to build a practice exactly the way you envision it. Acquisitions can provide immediate cash flow and an established patient base. Both can be great options, but both come with financial realities that deserve a close look.

Evaluating a Practice Beyond the Asking Price

When it comes to acquisitions, Matt emphasizes that the numbers matter, not just the purchase price. Cash flow, trends, and key performance indicators all determine whether a practice can sustainably support a new owner.

The goal is not simply to buy a practice. It is to buy one that supports long-term stability and growth.

Smarter Loan Structures for Modern Startups

Rising build-out and equipment costs are real, but Matt reassures listeners that lending has adapted. Graduated loan repayment structures allow new owners to ease into payments as revenue grows, helping practices stay financially healthy in those early years.

It is a reminder that the right loan structure can be just as important as the loan itself.

Why the Right Team Changes Everything

Jill closes the conversation by reinforcing a core JA&A belief. No one should navigate ownership alone. The most successful doctors surround themselves with experienced advisors, including bankers, consultants, and mentors, who understand both the numbers and the nuance.

Having the right team does not just reduce risk. It builds confidence.

Final Thoughts

Whether you are dreaming about ownership, actively planning a startup, or exploring an acquisition, this episode offers grounded, practical insight into the financial side of the journey. Knowledge is power, but pairing it with the right support system is what truly sets doctors up for success.

Be sure to tune in to this episode of the Hey Docs! Podcast and keep an eye out for more conversations that dig into the real-world business of orthodontics. No fluff, just clarity.