Dentist's Money Digest

The year was 1991, and I had been out of school for 20 years. I was feeling comfortable with my practice growth, and felt I should start looking for some non-dental investments to grow my net worth and cash flow outside the practice

In our years working as financial advisors for dentists, we’ve seen a lot of unfortunate things happen to great people. Fortunately, with proper preparation, illness or injury does not have to end with a financially devastated family or a broken practice.

When it comes to transition or retirement, dentists have several options. They can sell their practices, find associates or simply throw their hands up and reduce office hours and production until they end up closing shop.

business leaders know that, before venturing into new territory, you first make the most of what you already have. For you as a practice leader, that means maximizing perpatient

According to a new analysis from Delta Dental Plans Association, if today's 6-year-olds invest the money they receive from the tooth fairy, they could have a combined total of roughly $70 billion by the time they reach 67, the traditional retirement age.

Every practice has goals of increasing revenue and becoming more efficient. While it may seem overwhelming at first, trying to balance these items and finding the best way to increase your practice’s business while also saving time and money doesn’t have to be hard.

When used correctly, debt can be a powerful tool that can grow your business and vastly improve your quality of life. When used incorrectly, it can become a weight around your shoulders, holding you back as you attempt to grow and expand.

Retirement. How is your spouse/partner going to put up with you when “that” time comes? Here’s a more important question: What will you do with your time without patients, an overflowing

It might have felt like you just filed your business’s 2014 taxes, but the 2015 tax season is not too far away. If you intend to make any major purchases, it’s a good time to consider making them so that you can use the write-offs to your advantage.

Whether it’s at the grocery store or on vacation, we’re all looking for the smartest way to spend our money. We want to make sure that when we decide to purchase something, it’s really going to be the best thing on which we can possibly spend our hard-earned cash.

As we cross the midway point of the year, now is an excellent time for a dental practice to examine its fee structure and see what needs to be updated and improved, said Teresa Duncan, DPR’s insurance editor and a noted practice management consultant.

Whether the millions of people who sit in a dentists’ chair each year know it or not, dental technicians are a key part of the workflow that gets restorations into their mouths.

A recent proposal for certification requirements for Stage 3 Meaningful Use is meant to address the complexity of the program.

Is your dental practice or dental lab throwing away money? According to Josh Daab of Atlantic Precious Metal Refining, that’s happening way too often to way too many dental professionals.

Having assisted practices with obtaining money through the EHR incentive program for the past few years, I regularly get calls from office managers and providers wanting more information about how to take advantage of the federal and state money available for using a certified EHR.

When a patient complains to you or a team member, you really need to listen. If you don’t, it may end up costing your practice thousands of dollars in lost revenue.