Did you recently graduate from dental school? Are you looking to enter your first practice as an associate? There is more to selecting a practice than sending your resume out, interviewing, and accepting a position. At least, there is more to selecting a practice that will allow you to become a successful associate. If you’ve…Read More→
Category: Dental CPA Blog
Dental Summer Help: Should Your Kids Work for You?
It’s summertime! For dentists, that means you’re in the middle of your busiest months of the year. If you have older kids – teenagers in high school or college-age – who are home for the summer, isn’t it maddening sometimes watching them lay about while you work all day? Solve two problems at once: bring…Read More→
Improving Performance Reviews In Your Dental Practice
Many dentists conduct staff performance reviews during the summer or fall – although many dentists don’t conduct formal reviews at all. A regular employee evaluation program is critical to ongoing practice management and performance and can avoid potential liability issues if you must terminate an employee. Keep these best practices in mind for your own…Read More→
How to Choose a Buyer Rep When Purchasing a Dental Practice
Choosing a buyer representative when you decide to purchase a dental practice is an important decision. Who you choose should first and foremost be an industry expert and help you identify and sort out the best opportunities for your situation. First Things First: Why Do I Need a Buyer Rep? Are you considering buying your…Read More→
Changes to Dental Practice Chart of Accounts
The new tax laws that went into effect this year require some significant changes to a popular area that dentists used to deduct: meals and entertainment. Within this main category, there are several changes that can be confusing. It’s necessary to update your QuickBooks chart of accounts immediately if you haven’t done so already. The…Read More→
Mid-Year Practice Check-Up
You ask your patients to commit to twice yearly check-ups to maintain optimal oral health. Are you making the same commitment to your dental practice? Sure, you’re not focusing on oral health; rather, something much more important: your practice’s financial and managerial well-being. By the time you read this, summer is already half over, which…Read More→
Making the Most of A Busy Summer
For many dentists, summer is often the busiest time. Students are off school, which means families are trying to schedule appointments when everyone is home. Adult patients tend to have more flexibility in their schedules. Regardless of whether you’re a general practitioner or a specialist, when your office gets hectic, what are you doing to…Read More→
Buying a Dental Practice, There’s More To It Than Price-Part III: Buyins/Buyouts/Mergers & Special Situations
Recap from Townie 2018 Presentation Blog #2 talked about those “special” situation practices like the fixer-upper, the recent start-up, the refurbished practice and the vacant space practice. I wanted to share two actual case studies with you, one with the recent start-up and the other with the fixer-upper. CASE STUDY #1 Let’s start with the recent…Read More→
Future of Dentistry: Telemedicine?
The concept of telemedicine is catching on quickly, as healthcare professionals realize the positive results and powerful implications of reaching underserved populations, seeing more patients, and improving healthcare. Could dentistry follow suit? Would you want it to? Benefits of Teledentistry Just like medical practitioners, dentists could use live video, remote patient monitoring and patient self-reporting,…Read More→
Buying a Dental Practice: There’s More to it Than Price – Special Situations
So my 2014 townie presentation covered the buying process of the typical general dentistry practice, however, what if it’s NOT the typical general dentistry practice? What about the practice that someone started 3-5 years ago that never quite blossomed (the recent start-up)? What about the practice that that’s 30+ years old that someone purchased and…Read More→