Category: Money

Payroll costs in dentistry are increasing as a percentage of sales. To maintain your profitability, are you going to have to pass on that cost to your patients? Consider the alternatives: pay less wages to fewer people pay yourself less make less profit It seems that most owners are choosing the last of these options.…
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Recently, I have met three young dentists who have bought practices under what I can only describe as questionable circumstances. Three different locations around the UK and yet the audit trail of events that is disturbingly similar: Existing owner in mid-50’s decides to sell whilst goodwill values are at an historic high; Sales figures for…
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A fascinating dinner in Harpenden last night with European and UK Audiologist of the Year, Robert Bieny, founder of Hearing Healthcare Practice. In his 5th decade of serving patients, Robert has that calmness and wisdom of experience that has me mentally noting the individual phrases he uses in answer to my many questions. I’ve been…
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Numbers don’t get emotional about people. People get emotional about numbers. Associates get emotional when faced with a percentage pay-cut (perfectly understandable – who wants a pay cut?). An unemotional demonstration that a 5% drop in percentage can be recouped by an 11% increase in productivity often falls on deaf ears. The “loser” in this…
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