Do you understand your Profit and Loss statement? Well, even if you’re not trained, you can still look at the bottom “net income” line and get an idea of your profit right? Well, probably not. Does that number take into account owner’s draw and loans? Sometimes it does, sometimes it doesn’t. Here’s a guide to understanding your P&L: Total Income: This is income before expenses. This is the amount you actually collected from your patients. This is NOT your production. Cost of
How’s your office organized? How about the front desk? The operatories? Do you know where everything is? Do your employees? A lot of time can be wasted searching for equipment and tools, especially if you’re “borrowing” them from other operatories. This shouldn’t be happening, but organizing everything according to how you (the dentist) want it might not actually be the solution. Different areas of the practice should be organized according to who uses those areas most often.