Good Margins Dental Accounting

Key Performance Indicators (KPIs) are the compass that guides your dental practice toward success. By monitoring these metrics, you gain valuable insights into your practice’s performance, enabling you to make informed decisions and drive growth. Regularly reviewing KPIs helps you stay proactive, address potential issues early, and keep your practice on a path to success. #DentalKPIs #PracticeGrowth #FinancialHealth #OperationalExcellence #PatientCare

We’re thrilled to announce that Michelle Lee, the brilliant mind behind Good Margins Dental Accounting, will be featured on the upcoming season of Legacy Makers TV! This groundbreaking show highlights the journeys of influential leaders and entrepreneurs, sharing their strategies, wisdom, and actionable insights. Michelle’s episode will dive into her expertise in dental financial management, her journey in the accounting industry, and how she’s helping dental practices thrive.

Profit Margins: On average, dental practices aim for a 40% profit margin, meaning overhead should stay around 60% of gross revenue. Practices with higher overhead—say, 65% or more—may face financial strain, while those below 60% often enjoy healthier profits. Key Takeaway: Regularly reviewing and optimizing overhead costs can help your practice maintain a strong profit margin, ensuring long-term success and financial stability. #DentalFinance #ProfitMargins #PracticeManagement #OverheadCosts

Keeping a close eye on your accounts receivable (AR) is key to maintaining a thriving dental practice. Here’s why regular AR reviews matter: - Boost Cash Flow: Ensure timely payments to keep your practice running smoothly. - Spot Trends: Identify patterns in unpaid balances to address issues early. - Reduce Stress: Proactive management means fewer financial headaches down the road. Tips for Effective AR Reviews: - Analyze Aging Reports: Check balances by 30, 60, 90, and 120+ days to pinpoint overdue accounts. - Follow Up Promptly: Reach out to patients and insurers for unpaid invoices. - Adjust Policies: Update financial protocols to encourage faster payments. A healthy AR shouldn’t exceed one month’s production—if it does, it’s time to take action! Let’s work together to keep your practice financially fit. ???? #DentalFinance #AccountsReceivable #PracticeManagement #GoodMargins

Running a dental practice is no small feat—you’re juggling patient care, team management, and financial decisions. Let us take the stress out of the numbers! At Good Margins Dental Accounting, our Fractional CFO services are tailored to help you: - Maximize profitability with data-driven insights - Streamline financial processes for smoother operations - Plan strategically for growth and long-term success Think of us as your financial partner, working behind the scenes so you can focus on what you do best—caring for your patients. Ready to elevate your practice? Let’s chat! ?? #DentalCFO #FractionalCFO #PracticeGrowth #FinancialClarity #GoodMargins

At Good Margins, we believe managing your practice’s finances doesn’t have to be dull—it can be exciting, engaging, and even fun! ??? - Innovative Tools: We use cutting-edge technology to simplify complex processes, making financial management seamless and stress-free. - Personalized Strategies: Our team tailors solutions to fit your practice’s unique needs, ensuring you stay ahead of the curve. - Interactive Workshops: We host engaging workshops to empower your staff with financial knowledge and confidence. - Celebrating Wins: From hitting revenue goals to optimizing budgets, we celebrate every milestone with you—because success deserves recognition! - Team Spirit: Our passionate team brings energy and positivity to every interaction, making collaboration enjoyable and productive. Let’s make managing your practice’s financials as exciting as it is effective! Contact us today to get started. #GoodMargins #FinancialManagement #PracticeGrowth #TeamSpirit #InnovationInHealthcare #FunWithFinance

Michelle is going to be on Legacy Makers later this year, check this out. https://lnkd.in/gs7kts_u

The average dental practice in the U.S. generates between $600,000 and $1.2 million in annual revenue, with specialized practices often earning significantly more. General dentistry practices typically fall in the middle of this range, while orthodontic, pediatric, and cosmetic dental practices tend to achieve higher revenues due to their specialized services and equipment. Ready to take a closer look at your practice's numbers? Schedule a call today.

Why Growth Planning is a Game-Changer for Your Dental Practice ?? Financial Stability Growth planning ensures your practice thrives by focusing on revenue expansion, patient acquisition, and operational efficiency. It’s the foundation for long-term success. ?? Stand Out in the Crowd A solid growth strategy helps you differentiate your practice with unique services, better patient experiences, and effective marketing, keeping you ahead of competitors. ?? Optimize Resources Plan for the right staff, technology, and facilities to handle increased patient volume without compromising quality. Growth planning ensures you’re ready to scale seamlessly. ?? Align with Your Vision Growth planning ties your practice’s expansion to your personal and professional goals, helping you achieve financial security and a thriving practice that supports your lifestyle. At Good Margins Dental Accounting, we’re here to help you navigate growth with confidence. Let’s build a plan that works for you! ??? #DentalGrowth #PracticeSuccess #GoodMarginsCFO

Is your dental practice financially fit? Regular check-ups aren't just for teeth! Keep your practice financially healthy with Good Margins Dental Accounting. #DentalFinance #PracticeManagement #FinancialHealth