Tag: Dental Advisor

Dental CPAs 70808 | Strategies to Boost Profitability

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Dental CPAs in Baton Rouge, LA

According to Dr. Charles Blair, DDS, most dental practices are losing between $30,000 and $50,000 in potential profits. How can dental practices maximize return on their services and start to recoup capital? Here are three strategies to boost profits in your practice:

Optimize your Practice

Taking a look at production reports to make sure procedures were coded correctly. This may seem fundamental, but it can save a lot of time and money in the long run. One incorrectly charged procedure can increase costs over the course of a year.

In addition, adding high-dollar procedures to your practice such as endodontics, bleaching, and other cosmetic services can greatly boost your profit. Training dental hygienists in more complex procedures, such as soft-tissue management and bleaching, will also maximize a dental practices’ profitability.

Staff your Practice Well

In order to recruit and hire the best possible candidates, it is worth paying above average wages to experienced people in the field. This avoids employee turnover, which can become costly. A friendly and knowledgeable team will also help with patient retention rates.

Facilities and Equipment

If possible, purchase all your dental and office equipment, rather than leasing it. This avoids a number of issues, including higher retail costs, interest payments, hidden fees, and lease-breaking penalties.

Strive to maximize your office space. If your current patient volume doesn’t allow you to use all your offices, consider subletting either your primary or secondary office space. Also, merging your office with another dentist can help you in fully utilizing your space and also reduces overhead costs.

There are a variety of ways to boost profits and cut costs while owning a practice. To start, think about your services, staff, and office space. Opening a practice can be costly and leave many dentists in debt, especially after finishing school. Contact us today for help on managing your budget and ways to maximize your return on investment.

 

6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808
(225) 767-1020

Baton Rouge Dental Consultant | Combat Burnout to Increase Production

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Dental Consultant in Baton Rouge

Dental Consultant in 70808Have you ever felt tired, stressed, and overwhelmed to the point where it impacts your production numbers? Burnout can happen to all dentists and their teams. Yes, this includes you. Before burnout starts to significantly impact your practice, you need to know how to recognize it and how to manage it.

Identify Signs of Burnout

If you start to feel unfocused, tired, or bored, you may be experiencing burnout. Does your team lack the enthusiasm they once possessed? When you start to notice these clues and behaviors, take action immediately. You and your team have invested countless hours in building a fulfilling career in dentistry. Don’t allow a temporary period of burnout to cause you to question your work. Instead, it’s time to reinvigorate your attitude.

Identify the Problem Areas

When production numbers begin to slip, look at where your numbers are starting to drag. A dental CPA can help you identify areas where your numbers a falling. When a department’s numbers begin to sink, your team members can start to feel low, impacting the office’s overall morale. Identifying the problem area allows you and your team to find and implement a solution before dissatisfaction spreads.

Identify New Areas to Explore

If you are experiencing burnout, the time may be right to learn a new skill. Sign up for a CE course or workshop on a subject that is new or intriguing. By expanding your skills, you can increase the number of services you provide, which can turn sagging appointment numbers around. Could your team benefit from additional courses? You may want to try selecting a course the entire team can participate in together. Not only will you all be learning new applicable skills, but you will be improving your relationships with each other which will lead to improved morale.

Burnout will happen to even the best dental team. When you start to notice the signs of burnout, don’t wait for things to improve on their own. Be proactive and identify the areas you or the team could improve. Whether it is improving the number of hygiene appointments, or taking a new CE course, take action immediately to combat signs of burnout.

A dental CPA team can help you evaluate areas of opportunity. Contact our office today.