Articles

As a successful dental practice owner who prides themselves on their accomplishments and making wise investments, you may now find yourself in the market for a reputable, luxury electric vehicle. It’s time to say goodbye to your gas-guzzler and hello to a new eco-friendly option that features high-tech and impressive performances. While a luxury electric car is a significant investment, it’s a smart long-term investment. As a dental practice owner in Canada, there are numerous benefits associated with purchasing a luxury electric vehicle, ranging from environmental considerations to financial incentives

Cash flow optimization refers to the process of managing and improving the inflow and outflow of cash within your dental clinic to maximize efficiency and profitability. This may involve analyzing the timing of receipts and payments, monitoring cash flow trends, and implementing strategies to ensure that your dental clinic has enough liquidity to meet its financial obligations while also maximizing its growth potential.    So, are you looking for ways to optimize your dental clinic’s cash flow? By doing so, you can ultimately improve your business’s profitability, increase shareholder value, and

A financial audit is an evaluation of sorts of financial records, procedures, and processes to ensure accuracy, compliance with regulations, and overall financial health. This process is typically conducted by an external auditor, but you can also perform an internal audit to evaluate the effectiveness and efficiency of your dental practice’s internal controls, risk management processes, and structure.  Why Dental Practices Perform Internal Audits Internal audits help dental practices identify weaknesses in their systems, processes, and controls, and provide recommendations for improvements. There are several reasons why companies perform internal

Are you an associate dentist working alongside the owner or lead dentist of the practice? While being an associate dentist may still allow you to develop your clinical skills, gain valuable experience and provide you with a rewarding career, it’s only natural that you may be wondering if it’s time you owned your own practice. However, that’s a BIG next step so it’s crucial to consider certain factors that come with ownership.  Why Other Dental Practice Owners Incorporate Why do dentists incorporate? Various factors come into play here, but incorporating

Maximizing retirement savings is crucial for dentists to ensure financial security in their later years. By saving as much as possible, dentists can better prepare for unexpected medical costs that may arise, protect themselves against economic downturns, support their legacy goals, and comfortably support themselves through their retirement years. One of the best ways dentists can save for retirement and reach their goals is with an individual pension plan (IPP).   What is an IPP?  An IPP is a type of retirement savings plan designed primarily for business owners, incorporated professionals,