Know your bottom line. Understanding and managing the financial health of a dental practice is more crucial than ever, especially in the competitive and regulated landscape of Canadian healthcare. “Knowing your bottom line” involves a clear grasp of the practice’s financial inflows and outflows, ensuring sustainability and enabling growth. As a dental practice consultant, here …
Cash flow management is not just an essential business practice—it’s the lifeline of your dental practice. Effective control over cash flow ensures that your practice can comfortably meet its operating expenses, reinvest in its growth, and maintain financial resilience against unexpected economic fluctuations. In the dental industry, where equipment and supply costs can escalate quickly …
Cash Flow: The Second Pillar of Dental Practice Success Read More »
In the face of economic uncertainty, many patients may reconsider their spending on healthcare, including dental care. However, it’s during these times that dental practices should intensify their efforts in patient education. Effective communication about the importance of maintaining oral health, even when budgets are tight, can help patients make informed decisions that could prevent …
Prioritizing Patient Education During Economic Downturns Read More »
It’s a hot topic currently. In today’s fluctuating economic landscape, dental practices face unique challenges in maintaining and increasing treatment acceptance rates. Patients are more cautious with their spending, and dental care, unfortunately, can sometimes be seen as secondary to more immediate financial concerns. However, with the right approach, dental practices can effectively navigate these …
Navigating Treatment Acceptance in Today’s Financial Climate Read More »
Most people are never comfortable talking about their personal finances and even less so asking others to talk about theirs. Treatment Coordinators and administrators spend their days speaking with others about finances and very often they are asking people to go outside their comfort zone for fees for dentistry that the patient may or may …
We have all read the headlines and have heard the predictions that we are entering or are already in an economic slump or recession. How can we ensure that patients continue accepting Major Restorative Treatment during a slump or recession? We have all seen what has happened with the cost of goods right now, especially …
Treatment Coordination Success in Uncertain Economic Times Read More »
Many offices find that Accounts Receivable are like a garden. If tended regularly, they are a pleasure. Untended, they become a jungle. Accounts Receivable (A/R) is more than the collection of monies for outstanding accounts. To ensure that your A/R’s stay up to date I suggest you look at the following areas in your practice …
Are your A/R’s looking like an Overgrown Jungle? Read More »
Providing great patient care is important, but if you don’t have sufficient cash flow, you will not be able to consistently provide patients with the care they need. Talking about money and offering payment options is an important component of the doctor-patient relationship. Below are a few actions you and your team should consider …
Tips for Positive Payment Discussions in Your Practice Read More »
You probably don’t realize it, but you may be delivering crowns for free. If it has taken four hygiene appointments to remind a patient that a crown needs to be completed before they agree to treatment, I’m quite certain that at this point, you are giving away the crown for free. Monetizing the amount of …
Are You Unintentionally Providing Free Treatment? Read More »
It seems that everyone in the industry is talking about staffing and salaries STILL. This topic and problem aren’t going away for anyone, many offices have become revolving doors of staff leaving because the office up the street is offering a higher hourly wage to just have a team in place to run the day. …
Everyday I see dental practices make crucial mistakes that burnout their teams and turn away patients. I’ll show you how to change all that in this guide. Download the guide – it’s FREE!
