Practice Integration Advisor and Team Leader Buckingham Strategic Wealth Indianapolis, Indiana
In this session we will discuss the best practices related to the financial management of a pediatric dental practice, including but not limited to: - Understanding your Profit and Loss Statement - Understanding and quantifying major and minor cost categories - Understanding and interpreting fixed and variable costs - Benchmarking your practice and understanding the results of a benchmarking exercise - Increasing profitability of your practice without decreasing patient satisfaction - Tax mitigation tools for pediatric practices In light of the current pandemic, we will also discuss Business Disruption Planning for pediatric dental practices, highlighting: - Practice emergency cash reserve management - Managing available capital sources for operational flexibility - Office coverage agreements - Incapacity Checklists The goal of this session will be help owner clinicians understand their cash flow, maximize practice profitability, and approach practice financial management with an understand of business continuity and capital flexibility.
Learning Objectives:
Better organize their practice's profit and loss statement to provide informative and actionable information.
Understand and interpret major and minor cost categories of their practice across time and in reference to national benchmarks.
Implement a business disruption plan for their practices. The recent pandemic shed light on the financial and operational preparedness of many OMS practices and dental practices.
