Dental Practice Financial Planning

Managing Cash Flow in a Dental Practice

Managing cash flow is key to being a financially healthy business.  Most dentists know their monthly cash flows, with a keen awareness of when payroll, credit cards, rent, labs and the other big bills are due each month.  But managing cash flow is not just about increasing next month’s production or reducing expenses.

Year End Financial Checklist

It's the time of year to be thinking about year-end deadlines.  Here’s a quick checklist – not all-inclusive, but hopefully helpful:

In Case of Emergency

The hurricane has me thinking about how to be prepared for emergencies.  I imagine families trying to contact each other, computers and file cabinets under water,  and businesses unable to function.  If you are somewhere that was not impacted by the hurricane, use it as a motivator to be prepared should a disaster hit closer to home. 

Embezzlement Risk Assessment Questionnaire for Dental Offices

I received an email from David Harris at Prosperident offering free access to their Embezzlement Risk Assessment Questionnaire for free through the end of August.  This is a quick (15 minutes or less) online questionnaire that allows you to analyze if a staff member's behavior is consistent with embezzlement.

KPIs in the Dental Practice

Dentists:  We have started working with a practice analytic software company to provide an add-on service for those clients who may want help quickly and easily tracking what’s going on in their practice.&nbs

When Can I Stop Working?

A common question I hear is “when can I stop working?”  Not that the client necessarily wants to stop working, they just want to know that they can stop.  That

How Dental Practice Owners Begin to Save For Retirement

Sometimes dentists care so much for their patients and sacrifice so much for their employees that they short themselves and their own families.

RMDs for Business Owners and Employees

Required Minimum Distributions (RMDs) from 401(k)s are treated differently for business owners.  For those who don’t own a business or own less than 5% of the business, an RMD is not required from the 401(k) while they’re still working (they would still have to take RMDs from their IRAs,

How to Solve Cash Flow Problems

Sharon was recently interviewed for an article published on the Direct Capital website titled How to Solve Cash Flow Problems: 24 Experts Reveal Top Tips for Fixing Small Business Cash Flow Issues.  Here's an excerpt from that article:

Operating During a Cash Flow Crunch

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