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THINKING BUSINESS
a blog by Chris Barrow

Tubulised financial modelling



Thank you to Dentinal Tubules for giving me the opportunity to present my "Financial Modelling" workshop to an audience of 10 "serious players" at yesterday's conference.


In the room:

  • 1 accountant looking to expand his knowledge of the dental business numbers;

  • 1 recently qualified dental student who is making a career change into financial analysis;

  • 1 established implant associate who is buying the practice he has worked in for years;

  • 1 practice manager who looks after 4 expense-sharing partners;

  • 1 non-clinical spouse who runs the business with her dental husband;

  • 5 existing practice owners

Ground covered:

  • An overview of the current dental landscape;

  • How to understand your own profit & loss statement;

  • The most important KPIs in dentistry and benchmarks;

  • Calculating Operating Cost Per Utilised Surgery Per Day (OCPUSPD);

  • Determining the production and profitability of hygienists, therapists and associate dentists;

  • Fixed %, sliding scale or salary?

  • Prices - the difference between scientific and emotional pricing;

  • Plan prices - what to do on 1st January 2024;

  • Creating personal and professional budget and cash flow forecasts;

  • Understanding EBITDA and calculating your own goodwill value;

  • The dangers of the corporate earn out and the speculative buyer.

Phew!


No wonder I gave my delegates 15 minutes for their morning and afternoon coffee breaks and 30-minutes for lunch - we had a lot to get through.


As always a combination of very tough subject matter with lots of laughs along the way.


I hope I made a difference to my delegates (holds breath and waits for Google reviews).


I had a blast - I love delivering this day.


p.s. first ever day at Tubules - amazing conference.


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