Dos and don'ts for overhead control

2014 02 13 13 44 50 61 Practice Success200x200

How to manage expenses

To run a successful dental practice, the dentist must effectively handle expenses. Uncontrolled overhead can have a devastating effect on a practice's cash flow. Excessive overhead not only jeopardizes the success of the dental practice but threatens the dentist's financial security as well.

2009 06 04 09 39 24 473 Disp Do

Update your budget. When you don't track your expenses, cash seems to disappear. Dentists who have budgets control their overhead and usually achieve better financial results. The best way to make an accurate budget is to figure out how you spend your money. Evaluate where your money comes from and where it goes. You will need to keep track of your collections, purchases, and expenses. Record how much you spend in each category every month.

2009 06 04 09 39 35 525 Disp Dont

Don't forget to take inventory. Do you know your current supply level? When was the last time a staff member took inventory? Many practices find that they have extra supplies that will carry them for months and older, expired items that are taking up valuable space. By taking inventory on a semiannual basis, a practice can maintain a steady stream of supplies, avoid overages and shortages, and exhibit stronger control over expenses.

Page 1 of 175
Next Page