Practice Management
Featured Resource Spotlight: Rick Ball of Summit Handpiece Express
When DrillDown Solution President Ed Gabriel recommends a professional, you know it’s someone worth your attention. One of Ed’s trusted contacts, Rick Ball, is a valued Backstage Member and the owner of Summit Handpiece Express—a family-run business dedicated to helping dentists save money and reduce downtime through reliable handpiece repair and rebuilds. By extending the…
Read MoreFeatured Resource Spotlight: Kirk Teachout and the Seven Figure Dentist Program
When DrillDown Solution President Ed Gabriel discovers a voice worth amplifying, it’s because that voice can make a real difference for dental professionals. At the recent Dental Festival, Ed connected with Kirk Teachout—a business coach, serial entrepreneur, and bestselling author. Kirk is the creator of the Seven Figure Dentist Program through IV Quarter Coaching, a…
Read MoreShared Family Office: Advanced Wealth & Tax Strategy for Dentists and Business Owners
As your dental practice or business grows, so do the complexities of managing your wealth, minimizing taxes, and identifying smarter investment opportunities. For decades, the ultra-wealthy have used private family offices to solve these challenges—building customized teams of advisors, accountants, and investment professionals to protect and grow their fortunes. Now, with Shared Family Offices (SFOs),…
Read MoreDental Supplies Procurement & Technology: A Game Changer for Your Practice
As a dental CPA firm, we keep our ear to the ground to identify best business practices that can help improve the profitability and efficiency of dental practices. One significant area where technology is making a major impact is dental supplies procurement. Dental supplies account for a substantial portion of a dental practice’s expenses. In…
Read MoreCommon Mistakes Healthcare Practices Make in Real Estate Negotiations
Did you know real estate is likely your healthcare practice’s second-largest expense after payroll? Yet many healthcare professionals leave thousands on the table in poorly negotiated leases. An unfavorable lease or real estate negotiation can lead to unnecessary expenses, potentially costing you tens or even hundreds of thousands of dollars over time. That money could…
Read MoreInspire Your Team Members and Keep Them Engaged—Without Giving Raises
How To Inspire Your Team Keeping your team members motivated, happy, and engaged will help your business grow and succeed. But what happens when you have a limited budget that makes raises impossible? While everyone likes to receive a raise, they aren’t the only way to keep your team happy and productive. In fact, there…
Read MoreThe Profitability of an Associate Dentist
Have you considered adding an associate dentist to your dental practice? It can have a positive impact on your business success and work-life balance. However, the success of the dental associate depends on several factors: the compensation plan, the costs involved with hiring another dentist, your dental practice’s ability to take on more patients, and…
Read MoreValuation of Dental Practices: Key Considerations and Common Pitfalls
Introduction Valuing a dental practice can be complex and nuanced, requiring a thorough understanding of various factors that influence its worth. While there are common rules of thumb used in the industry, they often fall short of capturing the true value of a practice. In this article, we’ll explore why these general rules can be…
Read MoreThe History and Value of a Family Office for Dentists
As a dentist, your primary focus is your patients and your practice. However, managing your wealth and planning for the future is just as important. This becomes especially crucial when considering the sale of your practice to Dental Service Organizations (DSOs) or Private Equity Groups. This is where a family office can help. A family…
Read MoreFinancial KPIs And Metrics For Dentists
Financial KPIs are the foundation of business success for dental practices. By setting and tracking specific accounting metrics and values, you can ensure that your business is continually achieving its objectives. In this article, we explore essential accounting KPIs and metrics that every dentist should track to maximize their business’s financial success. 1. Net Profit…
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