episode 56 – keep your business healthy, conduct a yearly business physical

It’s time to button up the year and look ahead to 2017, and with that comes preemptive tax and business planning with today’s guest is Alan Hill, principal and director of Rea’s dental services division. Alan has developed a unique service offering for dental professionals, but many of the techniques he uses can be applied … Continued

Is Your Business Ready for a Year-End Financial Check-Up?

The end of the year is the perfect time to bring all of your business advisors together for a year-end financial check-up. Set up a meeting with your accounting, legal, estate planning, investment and retirement planning advisors, as well as any partners in your business, at the end of each year to get a check-up … Continued

Can Medical Concierge Fees Be Applied to HSAs?

“Medical concierge” physician practices are growing in popularity with both physicians and patients. In this type of practice, patients pay a set fee that entities them to much quicker access and more dedicated time with their physician as well as the opportunity to participate in additional diagnostics, wellness services and preventive care programs. Patients can … Continued

Renting Your Property?

A few weeks ago, we received a call from a dentist who was considering purchasing a property in Florida. He wanted to use the property himself as well as use it as a rental, and wanted to know what pros and cons he should consider, especially the tax implications. It’s a call we’re receiving quite … Continued

Show Me the Money

Money – and financial responsibility – may not be the root of all evil, but it can complicate business relationships, especially among physicians working together in a practice. The practice has several ways of structuring each physician’s compensation, including a production method, an equal method, a hybrid of equal and production, or a self-defined relative … Continued

Six Steps to Successfully Transitioning Your Dental Practice

How will you transition your dental practice to another dentist when it’s time to leave? If you’re like most dentists, you’ve put off making this important decision. And without preparation, your practice may not achieve the smooth transition you anticipate. So how can you plan for the successful sale of your practice? To paraphrase Nike, … Continued

A View to a Practice

For Dr. Kent Caserta, life has revolved around a family dental practice for the past 32 years. But in recent years, he started thinking about slowing down and introducing a new partner to the practice. He already had a retirement plan in place, but since the practice is a large part of his wealth, he … Continued

How Your Practice Can Earn $88,000 Per Physician Over the Next Five Years

Between 2011 and 2016, your practice could be earning additional money – up to $88,000 per physician – from the federal stimulus package. Three new programs will allow healthcare providers to earn incentives for using electronic health records, electronic prescribing and performing standard quality procedures (that your practice most likely already follows). The Health Information … Continued

Planning Ahead for Your Own Dental Practice

This article is part two of the series Jump-Starting Your Dental Career. The first one covers top tips as you enter into your first practice. As a young dental practitioner, owning your own dental practice should be more than just a far-off goal. By becoming familiar with the issues you’ll face now, you’ll be much … Continued

Jump-Starting Your Dental Career

You earned your diploma and passed your boards. Now it’s time to begin your dental career. Where will you work? What does your ideal practice look like? We’ll discuss some tips to help you navigate your career path. Demand The good news is the dental industry seems to be faring better than other medical counterparts. … Continued