VIDEO: Calculating Overhead

In this video we combine the concepts from Part One and Part Two and practice calculating overhead from your Profit and Loss Statement.  It’s easy!  Now you can quickly find out if you’re on target with your expenses or, if…
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VIDEO: The Profit & Loss Statement

How much money did your business collect and how much did it spend?  These pretty darn important questions are answered on the Profit and Loss Statement, also known as the P&L, also known as the Income Statement.  Your accountant should be…
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VIDEO: What is Overhead?

I’ve started a new video series called “DE’s Business Lab.”  I’ll explore a practice management topic over the course of a few short videos.  First up… overhead.  Enjoy!…
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My Interview on “Your Dental Success” Podcast

I’ve been knee deep in research on gross profit margins.  It’s a fundamental concept in business that has been sorely missed in dentistry.  I’ll have an article published in Dental Economics in March of 2017, but in the mean time…
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How Much is a Practice Worth?

Ask a dentist how they value a practice and you’ll typically hear something along the lines of “75% of last years gross.”  Here’s what that means.  They are taking last year’s gross collections (before deducting staff expenses and other types…
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Retirement Investments

I am not an expert in retirement planning. Not by a long shot.  But I’ve rounded up some of the best, non-biased information out there for you so you can start having better conversations with your financial planner. There are…
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Should We Charge Less?

For the foreseeable future, ADA research shows that there will continue to be an increase in the supply of dentists and  a decrease in the demand for our services by adults.  And yet we keep opening dental schools, but don’t…
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Supply Cost

Look at your dental supply catalog and you may be shocked at how expensive a bottle of bonding agent can be.  It won’t be a surprise then to find out that the cost of dental materials is one of the…
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Procedure Cost

I want to walk you through a concept I’ve been writing and lecturing about for a few years.  It’s called “procedure cost” and it’s a way of evaluating your fees. I wrote about how to calculate procedure cost back in…
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Daily Reports

I’m not the most organized person in the world.  I’ve never balanced my checkbook.  But there is one thing I’ve learned to do every single day I’m in the office.  I take less than five minutes to look at a…
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