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 information, process payroll in an efficient manner and have even made mistakes that have cost the business serious money. In one instance, we found system […]
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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 sure-fire kind of business. A practice that you build and grow and the clients would simply come… except that’s not always the case. In […]
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 two things: Your cash flow cycle. You need to know how long it takes to get money into your bank account after treatment is […]
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, which is also a recommended method of building your dental practice’s basic financial plan. There are a number of options you can use to streamline […]
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 because you are not able to be there doesn’t mean there aren’t bills to pay, a clinic to run and staff who rely on their […]
Watch this 2 minute video and learn how to snap a picture and save your business receipts using the Hubdoc mobile App.
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 document) is not really something your staff want to flip through to review processes. As a […]
Planning your daily deposit reconciliation 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 their insurance details for payment. All those payments in their various forms make their way into your patient management system [...]
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 monthly income statement it’ll show those over a period of one month. The information presented in an income statement is important because it helps […]
The average dentist should be spending between 5.5% to 7% of revenue on supplies. But sometimes we get a little over-excited, buy a few new products and end up blowing the supplies budget out of the water. Good news, we have a few tips to help you keep that budget under control! Assess how much […]
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