The dental industry has evolved significantly in recent years, not just in clinical advancements but also in how patients seek and choose dental care. Today, an online presence is non-negotiable. Patients conduct extensive research before making dental decisions, making it crucial for dental practices to establish a robust digital footprint. Navigating the financial landscapes of…
The acquisition of a dental practice involves more than just the transaction itself. It necessitates a strategic approach to allocate the purchase price appropriately, ensuring both buyer and seller are in compliance with accounting standards while maximizing tax benefits. In this process, purchase price allocation (PPA) is a crucial aspect, impacting financial reporting, tax implications,…
In my role as a Dental CPA, I’ve seen thousands of dental practices struggle with one common problem: managing cash flow! It’s a sensitive topic for many reasons: imagine you have seasonal variations in patient visits, contributing to revenue fluctuations. Some dentists also face high overhead costs, including rent, salaries, and equipment maintenance, without mentioning…
Welcome to the dental world! I know you’re probably a good dentist, but can you run, lead, and control your own new business? While dental school imparts invaluable clinical skills, stepping into the professional realm unveils a whole new set of challenges that textbooks often leave untouched. In this blog post, we’ll approach some valuable…
When we talk about dental practice management, success isn’t a one-size-fits-all equation. Each dental practice is a unique entity, influenced by factors ranging from size and location to specialization and individual nuances. Amidst this diversity, the role of a Dental Certified Public Accountant (CPA) emerges as a vital factor in elevating these practices towards sustained…
Setting up a dental practice from scratch demands perseverance, adaptability, and strategic planning. As a dentist stepping into entrepreneurship, there’s an amalgam of excitement and challenges awaiting your expertise. Considering the dental industry is highly competitive, differentiation and strategic positioning for new practices is highly recommended. With the right strategies and a clear roadmap, your…
Choosing the right Certified Public Accountant (CPA) specialized in the dental industry is essential for conducting thorough due diligence when purchasing a practice, expanding your business, or simply ensuring your financials are in impeccable order. Dental CPAs offer more than just accounting services. Their knowledge of the dental market and financial expertise can significantly impact…
Selling your dental practice marks a significant milestone in your professional journey. It involves years of relentless dedication, hard work, and sacrifice. From the initial struggle to establish your practice to navigating growth and expansion, contemplating the next phase—be it partnering with a Dental Service Organization (DSO) or transitioning out—requires careful consideration. As you explore…
Purchasing a dental practice is a significant milestone in a dentist’s career journey. While owning and managing your own business can be exciting, the financial aspect of acquiring a dental practice can be a challenge. Fortunately, various financing options are available to help dentists realize their dream of ownership. In this blog post, we will…
In marketing, one strategy for sure remains timeless: storytelling. Whether you’re promoting a product, a service, or, in this case, dental care, the ability to weave a compelling narrative holds immense power. It isn’t just about showcasing high-quality services or cutting-edge techniques; it’s about connecting emotionally with your patients, and that’s where the art of…
Our Dental CPA firm provides dental professionals with a wide variety of custom services to enable dentists to excel in the dentistry business. It’s vital that dental businesses are well established, so that personal and business success may be accomplished in an effective manner and that potential risks are recognized, minimized, and promptly dealt with.
