Joining us to share his experience and wisdom on the topic is Jake Conway, financial analyst here at Dental Success Institute. Jake’s experience in financial analytics comes from working for a $200 million dollar a year company, where he traveled the world generating financial analytics used to make multi-million dollar decisions regarding resorts and hotels. Jake brought his wealth of experience to the Dental Success Institute and has adapted his financial knowledge to specialize in dental practices. Jake and Dr. Costes will be talking about true business analytics and really knowing and understanding how to calculate profitability and overhead for your practice. Although most dentists may have a bookkeeper or accountant to keep track of money coming in and going out, the report an accountant produces usually is not a custom business report that reveals where a practice can immediately increase profitability. What Jake does here at DSI is use those financials to create a custom report every month, that very clearly breaks down your expenses/overhead and your income. Using a practical rule of 30-30-30-10, Jake explains the most common places that money can be saved almost immediately for most dental practices.
All of that and more on today’s episode of The Dentalpreneur.
In this episode you’ll hear:
- What information should be reviewed to find opportunity to immediately increase profitability
- What the 30-30-30-10 rule is, and how you can make it work for your practice
- Why your practice should have a monthly scorecard for review
- How to create accountability for profit within your staff
- Common areas dental practices are over spending
Special thanks to Jake Conway for sharing his knowledge on financial analytics for dental practices on today’s show, and thanks to you for joining us as well. See you next time on The Dentalpreneur podcast.
- Get your free copy of Pillars of Dental Success
- You can reach Jake Conway at firstname.lastname@example.org
- Visit Dental Success Institute at www.truedentalsuccess.com
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