Money

How seasonality affects revenue in the dental practice
How seasonality affects revenue in the dental practiceWhy is measuring and preparing for seasonality important for dental practices? It could create major cash flow problems.
The sooner you control overhead in your dental practice, the sooner you can retire
The sooner you control overhead in your dental practice, the sooner you can retireAs a rule of thumb, a general dental practice should spend 59% of its revenue on overhead, says Dr. Roger Levin.
Don't get hit with an I-9 fine
Don't get hit with an I-9 fineYou don’t want to be in the position of the New York dentist who was fined more than $5,000 for failing to present proper I-9 forms for employees at his dental office.
The biggest mistakes dentists make: Not working with a professional money manager
The biggest mistakes dentists make: Not working with a professional money managerA conservative investment plan — paying excellent returns in good years and weathering not-so-bad losses in bad years — will serve dentists well, says Dr. Roger Levin.
Relying on outdated dental practice valuations
Relying on outdated dental practice valuationsIt is difficult to convince a dental professional to retain an expert and then suggest that the dentist pay for the preparation of a practice valuation. Many practice transition brokers tell the dentist that they will produce a valuation for free.
The need for advisory services for the dentist
The need for advisory services for the dentistIn many of the cases in which this author has been consulted, there is an after-the-fact approach that must be taken because of an absence of advisory services prior to the engagement.
5 ways to stop revenue-killing attrition in your dental practice
5 ways to stop revenue-killing attrition in your dental practiceAttrition is devastating to a practice, and not for the reason most practitioners think. Many assume that they are only losing revenue from one patient, and that there is always another new patient around the corner to make up the difference. However, loss of patients not only results in revenue loss but also in added expenses in marketing and onboarding new patients so the practice can maintain patient flow.
State technology subsidies: Dentistry’s best-kept secret
State technology subsidies: Dentistry’s best-kept secretWhy would a five-provider dental practice throw away over $300,000 in state subsidies that they were eligible to receive? Probably because they weren't aware of a federal program administered by individual states that has been around for five years now and has distributed over $30 billion to mostly medical practices while many dental practices have stood on the sideline.
How patients decide to accept, delay or decline care
How patients decide to accept, delay or decline careIt seems almost every day patients leave the practice to “think about” needed dentistry. Patients’ Path to Dental Care Purchases study surveyed patients who had made, or were planning to make, a dental care purchase that required an out-of-pocket investment. The study findings can provide insight into patients’ decision-making process and how dental teams can help patients accept needed dentistry without delay.
The latest revenue data for dental practices across the nation
The latest revenue data for dental practices across the nationThis article will discuss national trends such as average gross revenue and collections in private dental practices, focusing on the widening gap between the revenue due and the actual dollar amount that is collected by the practice for services and products.