Insights
As a dental practice owner, you have much to worry about besides just taking care of teeth. You need to ensure that your practice is attracting new patients, making money, paying its accounts payable, and earning a certain amount to cover its expenses and payroll. It is a lot to think about.
Are you considering a career as a dentist and wondering how much does a dentist make in Canada?
The Canadian Dental Association describes dentistry as an “artistic as well as scientific profession. Dentists must have an artist’s aesthetic sense, an eye for detail and manual dexterity to perform precise procedures… Dentists must also be good communicators”. This range of aptitudes, plus high educational requirements, is reflected in salaries.
Whether you are just leaving dental school or have worked in an existing practice for years, you are considering starting a practice. Starting a dental practice can be extremely rewarding, but it can be costly.
Before the computer, administrative professionals did all administrative and financial tasks in dental offices. Staff filled outpatient charts by hand, managed patient schedules in appointment logs and calendars, and processed payments through cheques and money orders.
The success of every dental practice rests on its patient base. You need patients coming in the door to sell your services because, without new dental patients, you do not have any teeth to care for!
The federal government is looking to start a new national dental care program that would provide families with a household income of less than $90,000 with dental care assistance. There will be no co-payment requirements for those with a household income of less than $70,000. The program is intended to start this year (2022) for children under the age of 12 as the first eligible group. Unfortunately, few details were actually provided about this new program, leaving many families with unanswered questions. Not only that, but these unanswered questions are leaving those in the dental industry unable to determine how it will impact their business.
Do you have a business idea? Maybe you want to start a new business offering general dentistry treatments. Or, you want to offer a wide range of dental products or services like lab-formulated crowns or actual crown placement. Whatever your idea may be, you are ready to start planning.
If you have been considering converting your office to paperless charts, this is a great time to take the leap. Technology has advanced rapidly in recent years with cloud-based backup systems and massive amounts of storage capabilities, alleviating the concern of what might happen if the system goes down. Trusting that the technology won’t lose any information is no longer a concern.
Every dentist wants to save money this tax season. Thankfully, there are many ways that dentists can reduce their tax liability and save more of their hard earned money.
You’ve been the owner of a successful dental practice for a number of years now, and you’re feeling satisfied. You’ve hired lots of amazing employees, increased your profits and kept your patients happy, but now you’re thinking about retiring. You’ve come to the conclusion that it might be best to sell your dental practice and that’s okay! You deserve it.
Keeping top-performing team members on staff is essential—especially in today’s job market
Starting a private dental practice in Canada can be extremely rewarding for dentists and dental hygienists. Not only does it provide them with the opportunity to make their own income, but also with the opportunity to be their own boss.
Dental practices play a critical role in maintaining people’s oral health and hygiene. Patients need to see dentists, but how can dentists earn more from their services?
In this blog, we will discuss the strategies that offer valuable profit potential for dental practices. Learn to increase your profit with these strategies.
The field of dentistry is competitive and your dental practice needs to stand out from the competition to be a success. If you’re just starting out or looking to grow your practice, we have some simple tips you can use to attract new patients, improve your practice management, and organize your finances with a little time and effort. There are dozens of successful revenue production strategies out there. These tips are meant to get you thinking and looking at where to start. Ultimately, try the strategies that appeal most to you, track their success, and incorporate them into your dental practice if you find they work.
On June 30th, 2021, the Canadian Government passed Bill C-208. This Bill allows share capital restructurings and inter-generational transfers within a family unit, which two notable anti-avoidance provisions can catch in the Income Tax Act (ITA), Sections 55 and 84.1.
