July 13, 2020 -- Practices must look to advisers to help them through the recovery. Reopening and starting with a business-as-usual attitude will not work. Practices need to know how to effectively navigate weekly measurements, payment prioritization, expense negotiation, insurance plan options, patient schedule prioritization by production, expanded financial options for patients, and a host of other factors.
Reach out to your certified public accountant (CPA). These are uncertain times, and it's probably worth it to talk to your CPA about bailouts, loans, and other financial contingency options that emerge during the COVID-19 crisis. Find out from an expert what is available to you and whether it makes sense.
Don't forget to find a good dental consultant firm. Consultants will be key in helping practices understand exactly what should be done in terms of reopening and in the three phases of pent-up demand, decreasing production, and recovery that follow.
Roger P. Levin, DDS, is the CEO of Levin Group, a leading dental management consulting firm, and one of the most sought-after speakers in dentistry. Dr. Levin has authored 65 books and more than 4,000 articles on dental practice management and marketing. You can sign up for the Levin Group Tip of the Day.
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