@Dr Bhavdeep Ahuja
What exactly is Profitability?
We all know – What is Profit – Don’t we?
Profit = Income minus Expenses
Even if you are the best dentist in the town, if you don’t manage your money right, you are not going to be able to build and maintain a profitable, financially sustainable practice.
Even if our practice isn’t earning lots of money to start with, our goal should ultimately be, to be sustainable and make a profit to reward ourselves and our team.
We are then indirectly rewarding our patients through a fantastic patient experience and re-investment into the practice to provide them with the very best standards and new cutting edge equipment.
We are sometimes so busy producing week after week, only to find there isn’t much money left in the account at the end of the month?
So, I will ask again in a different manner?
What is Profitability?
Is it More Income?
Is it Less Expenses?
People look at one of the above (myopic) – I look at both of the above (telescopic).
Profitability isn’t rocket science, it is about the relationship between income and expense.
So why do so many dental clinics struggle with profitability?
The list of reasons is unfortunately endless.
So, this presentation is about taking a holistic view of both these components.
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