Transform Your Practice, Simplify Your Life™
Running a dental practice is as much about business management as it is about dentistry. When you opened your practice, you couldn’t have fully appreciated how much time accounting and financial management would take, but it is painfully clear now.
You’re not alone. Many dentists find themselves in the same situation, unable to spend time building the dental practice because they are too busy answering questions from the front office team or deciphering the latest cash flow report. Fortunately, there is a cure…you can simplify your life.
Dental practice accounting experts
At PBA, we provide expert dental practice accounting, financial management, and strategic business planning services. Since we specialize in working with dental practices, we understand the accounting and financial management challenges you face. We understand what your dental practice chart of accounts should look like. We understand which dental practice metrics are important to keep your business running smoothly. And, we understand how to deliver information that is easy-to-understand and actionable.
As your dental practice accounting partner, we will accurately and efficiently manage:
- Bank, Credit Card and Loan Reconciliations
- Cash Flow Management
- Account Payable/Paying Bills
- Accounts Receivable
- Payroll Processing
- Payroll Tax Reporting
- City and State Tax Reporting
- Sales Tax Reporting
- Transaction Entries
Automated processes and up-to-date software ensure that taxes and reporting are accurate and timely. Customer and corporate data is protected and backed up based on security best practices.
Weekly updates support proactive management
Financial and operational information presented through dashboards and virtual meetings give you current, consistent insight into the performance of your practice. With easy-to-understand dashboards, updated weekly, you can monitor cash flow and track budget performance.
Our free Practice Financial Check-Up will score your practice in different financial areas, show how you compare with other practices and provide recommendations for areas of improvement.
PBA’s Virtual CFO services take accounting to the next level—actionable information
Most general accounting firms simply don’t understand the complexities and intricacies of dental accounting. They provide one-size-fits-all reporting. Through PBA’s Virtual CFO services, we provide you with proactive insight. Instead of reports long after the month is over, we deliver insight throughout the month, with dashboards to highlight key metrics.
As your dental practice Virtual CFO, we will help you focus on the important pieces of financial information to guide the business to achieve your vision.
Know your cash flow
With tighter controls and more visibility into cash in and out, you will get a more accurate view of your cash position. Prompt reconciliation between your practice’s billing software and the bank account verifies completeness and accuracy as well as helping to detect and deter theft by staff.
Timely financial and business analytics
Your reporting should be designed to monitor both financial and operational performance metrics. We will help you focus on the most relevant indicators—like Production to Dentist, Production to Hygienist, Production to Operatory Chair, and Production to Net Collections Ratio —that you can act on to improve your practice.
To meet evolving patient expectations, we will help you continually modernize and streamline practice operations. Systems and software can reduce in-house staff hours and simplify the management of your dental practice.
Improve front office efficiency
As your dental practice accounting advisor and partner, we handle the tasks that distract your front office employees so they can spend more time on patient care.
Realistic forecasting and budgeting
We will help you establish budgets based on realistic forecasts to help you align resources with demand and protect profitability.
Grow the practice without growing payroll
With more efficient processes, your dental office team can handle more transactions and more patients. If you are working to build a specialization, more efficient processes allow you to expand services without additional administrative costs.
Remove unnecessary distractions
It’s not just accounting that takes your time away from the practice. There are insurance agents, bankers, 401K administrators, and HR consultants to distract you. As your dental accounting partner, we can handle many of the relationships that take time away from patients and planning for the future.
Let’s get started with a thorough assessment to build your detailed report on risks, metrics, and how-to guidance.