Beach Cities Orthodontics’ Post

Ever felt like you're navigating a minefield when it comes to dental practice finance? You're not alone. The landscape is shifting, and what you don't know can cost you – both in time and money. This week, we're diving deep with Ian Walsh, a seasoned expert from MedFin Finance. Ian's insights span from the tangible – like the nuances of loan assessments and the intricacies of valuations – to the intangible, like the ethos that sets a practice apart in a saturated market. Tune in now! https://lnkd.in/g3Xw8sG6 #savvydentist #imasavvydentist #proudetobesavvy #practiceowner #practiceownership #dentalpracticeowner

So happy to share some fantastic feedback from one of our valued clients, Zone Physical Therapy Physical Therapy! I take immense pride in helping businesses thrive through streamlined payment processing, and testimonials like this fuel my passion to keep delivering exceptional service to our wonderful GVL businesses! If you're looking for a credit card processing partner that truly understands your business, reach out! #CeleroCommerce #CreditCardProcessing #ClientTestimonial #PaymentSolutions #BusinessSuccess #CustomerFeedback

💰 Dental Practices in Financial Distress: A 2024 Wakeup Call! 🚨 As the year unfolds, the industry is witnessing a concerning wave of practice closures due to mounting financial woes: ⛔ #UnpaidRent forces abrupt shutdowns 💸 #DwindlingFunds & #LicenseSuspensions cripple operations 💼 #WorkforceShortages & #FundingCuts slam bottom lines 📉 #UnforeseenDifficulties push owners towards Bankruptcy #CashFlowCrisis #FundingChallenges #RegulatoryHurdles #FinancialViability #PracticeManagement #EconomicLandscape #SurvivalStrategies #RiskMitigation #IndustryCompetition #PlanningAhead #SmartSpending #ResourceAllocation

🌟 Happy Wisdom Wednesday! 🌟 📣 Welcome to Week 4 of our series: Tracking Essential Metrics for Success. This week, we’re focusing on understanding and comparing Net Production and Net Collection in your practices. 📊 Production refers to services 'sold' or contracts started. Collection is your cash flow, which is what pays the bills. To put it simply, production is what you’re billing for, and collection is the money you’re actually receiving. 🧮 It’s important to distinguish between net and gross figures. Gross production or collection is the total amount before any deductions. Net figures account for write-offs, adjustments, discounts, etc. 📈 A good benchmark goal is that net production should be 5-20% higher than net collection. Personally, I find that aiming for a 15% difference is ideal. This indicates robust practice growth, which is what we want! 🛠 Make sure you are running your practice analysis report each month to see where you stand and set your goals accordingly. 🚀 I hope you find this series valuable in supporting your practice’s growth and marketing goals. Feel free to reach out anytime! #WisdomWednesday #OrthodonticMetrics #NetProduction #NetCollection #PracticeGrowth #KPITracking #BusinessStrategy #TeamTraining #PatientExperience https://lnkd.in/g2tnBGmy

It is no surprise that the larger the lughole, the lower the attenuation for “one-size-fits-most” earplugs... what is interesting is the number of workers who are unlikely to achieve the derated NRR*. A team from ETS, IRSST and CRCLM in Canada have recently published this paper in the International Journal of Audiology 👇. For a largely male sample of workers exposed to occupational noise (sample size = 121, 103 male, 18 female) 12.7 % of ear canals (all male) were in the XXL or XXXL size categories, giving lower earplug attenuation. The authors conclude that the 3M Eargage earcanal sizing tool "can serve as a straightforward tool to identify earcanals for which specific earplugs are not suitable". *the US NRR is calculated using the mean attenuation minus 2 SD as opposed to 1 SD for the SNR used in the UK/EU, and is therefore typically (but not always) lower...  https://lnkd.in/eHhA-3Ug

Looking for some weekend reading? The Spring issue of the Savvy Dentist Magazine is out now and in this issue, we talk about mindset and the importance of aligning your dental practice goals with your core values to achieve genuine success. We go deep analysing the Knowledge Gap, the Attitude Gap and the Practice Gap. We also discuss the three currencies of practice optimisation MONEY, TIME and MEANING. By getting intentional about these areas, you can build a practice that not only achieves financial goals but also aligns with your values and lights you up. Want to read the full article? It's completely free. Subscribe Now! >> https://lnkd.in/gfCYE_7j

Keeping up with good dental practice is important to the overall health of our families, including those of our pups! In this heartwarming video, Loren, a CareCredit cardholder, shares the time he learned his furry friend, Snickers, needed some necessary dental care. Peace of mind doesn’t end with our own health; it comes when you have a way to pay for your loved ones as well. Watch Loren’s story below ⬇️ Interested in accepting the CareCredit credit card at your practice or location? Click the link to learn more! https://lnkd.in/g4ueZaxY

Our 9 Pillars of #Culture defines the key elements of how we think, act, and communicate. September's pillar focus is "Relationships & Customer Service." Strong customer relationships are built on the foundation of excellent customer service. It's about establishing a deeper connection that fosters trust, understanding, and loyalty. https://loom.ly/DPC6ROQ

Calling all Optical Labs! You asked and we listened... SpecCheck Lab Pay now allows you to easily manage each of your customers' recurring billing schedules in a simple and intuitive manner. Toggle Autopay on or off, set custom payment schedules, and securely add & store payment methods for your customers, all from your SpecCheck dashboard. This update allows you to generate more positive cashflow for your lab, reduce costly clerical errors, minimize monotonous administrative tasks, and save you countless hours of time each month. The best part? You are providing your customers with the most seamless payments experience possible. Please let me know if you're interested in learning more about this exciting new feature! 🤓

Are you ready to transform the way you manage your workflows and client interactions? CourtFact offers integrated solutions designed to streamline your operations, making it easier to track and manage client data, communicate effectively, and stay organized. Our platform is crafted to enhance efficiency, reduce administrative burdens, and improve overall client engagement. Discover how CourtFact can revolutionize your operations and elevate your client interactions. #CourtFact #LegalResources #LegalTech #CourtSystem #Probation #Rehabilitation #Incarceration #RestorativeJustice #CaseManagement #CommunitySupervision #Communication #Accountability #Treatment #ReduceRecidivism