Common 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…

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The 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…

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What is RCM (Revenue Cycle Management)?

Introduction Revenue Cycle Management (RCM) is the financial aspect of patient care in a dental practice. The cycle starts when a patient makes an appointment and ends when the payment is received and processed. The main goal of RCM is to ensure your dental practice gets paid on time for the services you provide. Key…

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Financial Clarity In Your Dental Practice

In a dental practice, patient care and operations go hand in hand. As such, financial clarity and understanding your financial position is critical to success. Financial statements provide a clear view of your dental practice’s financial health and past performance. From there, you can plan for the future by creating measurable goals and financial objectives.…

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Navigating Business Entities: A Guide for Dentists

Introduction Are you a dentist looking to set up your practice or expand your existing one? One of the main decisions you’ll face is choosing the right business entity or corporate structure. Your choice can impact your liability exposure and level of taxation. In this article, we’ll explore the various business entities available to dentists,…

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What is an LOI and Why Do Dentists Need One?

Introduction Embarking on the journey of buying or selling your dental practice is a significant decision that requires careful consideration and strategic planning. An essential step in this process is the creation and negotiation of a Letter of Intent (LOI). While generally not legally binding, the LOI plays a pivotal role in shaping the details…

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New Year Resolutions: 15 Dental Goals For Financial Success

As a dentist, the start of a new year is the perfect time to set specific resolutions and dental goals to enhance both your professional practice and your personal wellbeing. It’s also a great time to reflect on what worked well in the previous year, and what didn’t. That way you can keep building on…

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