Posted on Jun 29, 2017
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Reasons Your Practice’s Overhead May Be Out Of Control
Reasons Your Practice’s Overhead May Be Out Of Control. In 2014, it was discovered that dental practice overhead accounted for almost 75% of revenue.
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Why Your Overhead Is Out Of Control
Below are a few of the reasons you may be struggling. Once you discover the issue, it will be simpler to tackle it head-on:
- Not Paying Attention To The Right Numbers – You may think you’re keeping track of the numbers, but it won’t do you much good if you’re not paying attention to right ones. It’s possible for a dental practice to grow and increase revenue, but still be struggling with overhead costs. You may want to consider looking into inventory control, supply usage, and the purchasing system in place at your office.
- Appointment Cancellations & No-Shows – Every time you reserve at time slot for a patient who cancels or simply doesn’t show up, the possibility of making money during that time period is lost. It may be helpful to look for ways to encourage your patients to keep their appointments.
- Employee Theft – We hope that this isn’t the case for your office, but dental practices are vulnerable to embezzlement. The most common form of embezzlement in a dental office is through theft of collections. Plan and implement new controls to help keep track of your employees and how they handle the finances. This is both to protect you from embezzlement and your staff from false accusations.
If you’re not sure what’s causing your overhead issues, we’d be happy to help. CTC Associates has assisted dentists all over the country to get their practices back on the right track and running smoothly. Give us a call today to speak with a dental consultant.
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Purchasing your own dental practice may just be the largest professional decision you’ll ever make. Obviously, making sure…
October 23rd, 2015
Concerned clients ask us many questions and a lot of them seem to be of a similar vein. We’ve decided to put together a list…
January 21st, 2016
Purchasing a dental practice is a huge decision, one that can impact the rest of your life. This is why it’s so important to…
December 17th, 2015
Whether you’re purchasing a new dental practice, building one from scratch, or just considering adding a second office, you…
December 17th, 2015
We know that once the whirlwind of selling your practice is over, it can be very difficult to adjust to retirement or the…
November 20th, 2015
Dental partnerships can sometimes be a lot like a marriage! And just like a marriage, you don’t want to jump into it too…
March 23rd, 2015
Selling your dental practice can be stressful and overwhelming! We’ve put together a list of things that should make the…
Insights & Resources
Whether you're a seasoned dental professional planning your next big move or just beginning to explore the possibilities of buying or selling a dental practice, you've come to the right place. Our blog is designed to provide valuable insights, expert advice, and the latest industry trends to help you navigate the complexities of dental practice transitions. With decades of experience serving Colorado, Utah, New Mexico, Idaho, Wyoming, Washington, Alaska, and Hawaii, we are your trusted partners in building successful dental careers. Explore our articles and discover how we can support your journey toward achieving your professional goals.
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