This article is part two of a five-part series on how to increase practice profitability and manage overhead. To view part one. In last week’s article, we covered lowering overhead by realizing your collections potential and thereby increasing revenues. In this week’s article, we’ll cover overhead and expense basics, including general overhead categories, along with suggested percentages for each. We’ll…
The subject of finance, or money in general, tends to create quite a reaction in people. People “worry” about it, marriages run into trouble for lack of it and wars are started and fought over it. You’ve probably experienced this “odd reaction” firsthand when presenting treatment to patients. “Mrs. Jones” might be the nicest person in the world during the…
“How is the new health care legislation going to affect my practice?” I’ve heard this question (or some variation of it) “quite a bit” since the Patient Protection and Affordable Care Act as amended by the Health Care and Education Reconciliation Act was signed into law in March of 2010. And, while I’ve had an opportunity to review the literally…
You would be hard pressed to find a dentist that would not want to increase his collections without an appreciable increase in overhead. After all, if you are paying your bills now and were to increase your collections by $10,000 to $20,000 per month without much of an increase in overhead—that additional money is profit. The question is: How do…
(This is Part II of a two part article on the subject of associates. For Part I, click here.) Dental Practice Associate MGE Perhaps now or some time in the future you’ll think about adding an associate. Whether that time is today or ten years from now, it is best to be informed on the subject. Part one of this…
(This is a two-part series. Part II) Several times a week I field associate-related questions. These come from dentists who need one right away, as well as doctors just entertaining the idea as a future goal. The pros to adding an associate are obvious: more service for your patients, potentially more time off, someone to cover emergencies, etc. There are…
If you’re ready to reduce stress, improve production, and build a team that works with clarity and purpose, schedule a consultation with MGE today. Discover which training path fits your goals and take the first step toward organized, predictable growth.