Finance Archives - Bench Mark

Navigating Treatment Acceptance in Today’s Financial Climate

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 »

Getting Comfortable Talking About Finances

Leave a Comment / Finance, Make Your Mark / By Cindy Mark

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 …

Getting Comfortable Talking About Finances Read More »

Treatment Coordination Success in Uncertain Economic Times

Leave a Comment / Finance, Make Your Mark, Strategic Planning / By Cindy Mark

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 »

Are your A/R’s looking like an Overgrown Jungle?

Leave a Comment / Finance, Make Your Mark / By Cindy Mark

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 »

Tips for Positive Payment Discussions in Your Practice

Leave a Comment / Dental Practice Systems, Finance, Make Your Mark / By Cindy Mark

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 »

Are You Unintentionally Providing Free Treatment?

Leave a Comment / Dental Practice Systems, Finance, Make Your Mark, Strategic Planning / By Cindy Mark

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 »

The Current Wage Conundrum

Leave a Comment / Finance, Make Your Mark, Start Up Practices / By Cindy Mark

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. …

The Current Wage Conundrum Read More »

Making Responsible Decisions about Expenses

Leave a Comment / Dental Practice Systems, Finance, Make Your Mark / By Cindy Mark

In the past, many dentists only thought about their overall expenses once a year when they had an annual review with their accountant. With so many changes in the industry during the last two years most dentists need to have a better idea of their monthly expenses and if necessary, have some tools to make …

Making Responsible Decisions about Expenses Read More »

8 Ways to Clean Up Your Practice’s Accounts Receivables

Leave a Comment / Finance, Make Your Mark / By Cindy Mark

Many offices find that Accounts Receivable are like a garden, if you tend them regularly, they are a pleasure, if you leave them untended, they become a jungle. Accounts Receivable (A/R) does not refer to just collection of monies for outstanding accounts although that does cover a fair bit of it. To ensure that your …

8 Ways to Clean Up Your Practice’s Accounts Receivables Read More »

What is the ROI of Hiring a Dental Practice Coach?

Leave a Comment / Finance, Make Your Mark, Strategic Planning / By Cindy Mark

When I speak with a prospective new client, the conversation inevitably comes down to what is the Return on Investment (ROI) for having coaching for the office. The response relies on a few different components. The first point to consider, is there are three levels of offerings in my coaching programs and each has a …

What is the ROI of Hiring a Dental Practice Coach? Read More »

Finance

Get our accountability guide and learn how to transform your dental practice & create lasting results