Money
3 ways to fix a cash flow problem in your Practice
June 27th 2017If your cash flow is dropping, it may be time to reinvest in your team. Your practice is a living, changing organization, and it ends each day a little different than it began. Slight changes in revenue, outstanding receipts, patient load and procedural requirements occur daily and regularly at your practice. These changes not only have an impact your practice on their own, but they also carry quite an effect when combined.
Is a bonus system right for your practice?
June 27th 2017Some of you are probably saying, “No way! I can’t afford to pay my team more money. I haven’t raised fees in three years and the insurance companies keep cutting reimbursements.” That’s an understandable reaction. After all, employee compensation is the biggest expense in a dental practice.
EHR Incentive Program marches on
June 27th 2017Having assisted dental groups and DSOs obtain EHR subsidy payments over these past few years, I can tell you that because of all the misinformation and misunderstanding about the rules behind this program, many groups and DSOs will miss out on millions of additional payments over the next five years if they don’t truly understand what their ongoing rights are.
5 things that will make you stand out and get a raise
October 17th 2016Dentists closely watch their bottom line. As practice owners, the first priority is patient care, followed by keeping overhead down. So when hygienists ask for a raise, doctors immediately think, “How much is that going to cost me for the year and is it really worth it?”
The latest trends in dental practice accounts receivable
October 6th 2016Although collecting payment from delinquent patients may be uncomfortable, it is a necessary part of keeping a practice healthy. This paper examines trends in accounts receivable and how accounts receivable balances have changed since 2011.
3 things dentists need to know about year-end purchases
October 3rd 2016With year-end approaching it is time for dentists to think about making equipment and technology purchases if they want to expense (depreciate) those assets on their 2016 tax return. While the rules for depreciating equipment have changed dramatically, one thing remains constant. Equipment must be “placed into service” before any depreciation may be taken.