tab32 Blog

When you are starting out to launch your new practice, banks will be there offering you LOTS of money. The average cost (according to Bank of America) of a new dental practice is upwards of $450,000! They know that dental practices are a great investment and that they will make more money if they can get you to take a bigger loan. What they don't know is that you're smarter than that! You want to be profitable sooner, and spend less money paying the interest on your loan. While you can't completely eliminate your startup costs, you can be mindful of how and where you spend your money. Being frugal in your startup costs means less money paid to the bank and more in your pocket or to reinvest in the practice.

What's the most important KPI for your dental practice? What are the numbers and figures you should be tracking to grow your practice and your bottom line? Let's be honest, you didn't get into dentistry to give all that hard work away for free. You're here to build a business, create jobs, and give back to the community. You can't do those things if your business isn't succeeding. At tab32, we've created a dashboard to help you track your KPIs from anywhere you are. Let's take a look:

What does it take for the average dental practice to be profitable? What steps can you take as you start your practice to ensure your practice turns a profit sooner rather than later? If you already have a practice, this information is good for you, too. Even if you've been in business for years, finding new ways to be profitable is always a good idea!

When labor costs make up the bulk of your overhead costs, a smart business owner knows that ensuring staff is as effective and productive as possible is the key to practice success. How can you facilitate a productive office staff? Can you keep your overhead costs down while still maintaining an effective, welcoming practice? Yes, you can. Here are a few ideas for keeping your staff happy and productive.