It’s Essential to Create a Budget for Your Dental Practice
Mention budgets, goals, or knowing your numbers and most dentists’ eyes glaze over. I can’t tell you the number of colleagues and even friends of mine who say, “Yeah, it’s really important and I’m finally ready to create a budget and analyze my numbers … soon!”
Knowing your numbers and creating a realistic budget are key to any successful business, especially for a small fee-for-service (FFS) practice. Why is this? A strictly FFS practice has to make do with far fewer patients than any other practice model.
This can be a huge plus because it gives you more time for difficult procedures and to create authentic relationships with your patients. But it also means that you must be very intentional with your budgeting because it relates to fee schedules, payroll, and how many patients you need to see each day to be profitable...
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Knowing your numbers and creating a realistic budget are key to any successful business, especially for a small fee-for-service (FFS) practice. Why is this? A strictly FFS practice has to make do with far fewer patients than any other practice model.
This can be a huge plus because it gives you more time for difficult procedures and to create authentic relationships with your patients. But it also means that you must be very intentional with your budgeting because it relates to fee schedules, payroll, and how many patients you need to see each day to be profitable...
Click Here to Read More