Money

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.
5 ways to tell if dental benefit plans are failing your practice and patients
5 ways to tell if dental benefit plans are failing your practice and patientsBecause each dental practice is unique in how and where they are located and plans can vary widely in fee schedules, it is difficult to understand when plans are negatively affecting your patients and your practice.
Pretax transitions and the dental practice: Complex strategies for huge savings
Pretax transitions and the dental practice: Complex strategies for huge savingsIn explaining a pretax transition, it is important to understand that there are really two types of dental practice transitions. The author explains.
The role of the office manager in setting the dental practice's fees
The role of the office manager in setting the dental practice's feesLisa Marie Spradley, the 2014 Office Manager of the Year, has some words of advice on dental fees and the role of the dental office manager in setting them.
What dentists need to know about taxes in 2016
What dentists need to know about taxes in 2016Tax extenders! They have been in the news every year since the expiration of the Bush tax cuts and various other tax and economic stimulus packages. Without the passage of tax extenders in recent years, dentists would have had higher taxes. These temporary tax provisions expired at the end of 2014 but, as expected, new tax extender legislation has been passed.
A look ahead to what dental codes will change and affect your practice in 2016 and beyondNo one has their finger on the pulse of coding changes that will affect your practice more than Teresa Duncan. She stops by to tell us what tweaks have been made that will affect your business.