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Handling Dental Accounts Receivable When Purchasing a Practice
When it comes to purchasing a dental practice that’s already up-and-running, presumably you’re doing so because it’s an already viable business that has its own built-in client list and is...
How to Grow Your Practice on a Minimal Budget
I had the pleasure of attending a presentation by Dr. Michael Sernik who built his dental practice with no advertising. Sernik, a pioneer in his field, had some incredibly valuable...
It’s almost the end of the year, are your records ready
Keeping good records is incredibly important, which is probably why we mention it in every other post. Whether we’re talking about your policies and procedures, your accounting documents or your...
How to hire great staff for your dental clinic
The busy season is upon us, so you might be in the process of hiring a new staff member. Or perhaps you’re thinking and hoping to grow your clinic by...
Is it time to upgrade the payroll system for your dental clinic?
Lately, we have seen a lot of systems that are not efficient and up to par to properly serve dental practices. These systems don’t allow the user to access important...
6 major reasons that dental clinics fail
Everyone needs a dentist, right? So it would be fair to think that opening a dental practice – pending you have the appropriate education and experience – would be a...
Tips for avoiding common cash flow issues
Chances are anytime there’s the word “issue” you want to avoid it, the case of cash flow issues is no different. To avoid cash flow issues it’s important you know...
Streamline your business payments to save time and improve your cash flow predictability
Streamlining your business payments can both save you time and improve your cash flow predictability. Being able to predict your cash flow helps to improve your cash flow in general,
Creating a basic financial contingency plan for your dental practice
What happens if one day you can’t come into work. On the grand scheme of things, one day does not seem like a long time but it adds up. Just...
How documenting processes can help you scale up
Over the years the idea of documenting processes has often been ignored or considered a lost cause. The documents are often not updated and the traditional format (binder or word...
How adding 5 minutes to your schedule can help save your clinic money
Every day happy clients leave your office smiling. Before they step out your door, they swipe their debit or credit card, hand you a wad of cash or work out...
Understanding your income statement and balance sheet
Each month you are likely sent an income statement. An income statement shows you your practice’s revenues, costs and expenses over a predetermined period, so in the case of your...