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Process

Choose the right dental accounting partner

Even when you recognize the need for help with your accounting and financial management, the idea of evaluating and choosing a partner is daunting. Finding the right dental practice management and accounting partner—one who can demonstrate they know the dental business and they have a process in place to make the transition easy—will be top of mind as you begin looking.

Transform Your Practice, Simplify Your Life™

At PBA, we view our relationship with our clients as a journey. We have a systematic approach to developing our understanding of your business and how our services will best fit with your goals. As a part of your team, we will help you realize the goals you have set for the practice.  We will simplify your life, managing the accounting details, so you can spend more time enhancing patient care.

Active listening

We actively listen to understand your vision of the dental practice and learn the intricacies of your organization. Through our expertise, gained through working with dental practices, we will offer new ideas to improve processes, focus on specialties, and expand geographically.

Objective perspective

Our experience working with many types of dental practices—at different stages of maturity—gives us perspective to help you evaluate the challenges and opportunities of your goals for the practice.  Whether it’s specialization—like Endontics, Pediatric Dentistry, or Orthodontics—or practice optimization, we will help you understand and work through all the details.

Plans for action

As we develop your plan for the future, we’ll help you define action plans. With regular reviews of progress against the plan—monitoring financial and operational metrics—you can achieve the dental practice of your dreams sooner than you may think.

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.

How We Work: The PBA Dental Accounting Process

The discovery meeting

Introductory meeting

  • We discuss your needs, our services and determine if there is a good fit for us to move forward.

The assessment

Analysis of business processes

  • Based on our years of experience working with medical practices, we will objectively evaluate your current business procedures. We’ll recommend which processes would be better served by a medical accounting expert and how to streamline your employees’ processes.

Report becomes an accounting manual

  • Through the findings of discovery and the assessment, we will create an accounting manual, including the dental practice chart of accounts, transactional procedures, and best practice recommendations.

The planning session

Identify goals

  • We’ll help you clearly define and document your vision for the dental practice.

Evaluate current situation

  • Through comparison of the current state of your practice with your goals and objectives, we will chart a course of action.

Determine needs

  • With a clearly defined roadmap, we will outline and prioritize the action items to achieve the goals you’ve set for your medical practice.

The implementation

Set up accounting system

  • Based on our previous findings, we will transition your current accounting system to our advanced accounting software platform. We will develop reports and dashboards so you can actively monitor and analyze your dental practice to achieve your desired results.

Initiate new technology

  • Leveraging our knowledge of the latest business management tools, we will provide expert guidance to modernize your practice’s operations.

Introduce new processes

  • We will provide employee training to help your employees master the new systems and processes.

Ongoing services

Regular meetings with advisor

  • We will meet with you to review progress, identify problem areas, and celebrate successes to continuously improve your practice.

Planning sessions

  • As your practice develops and expands, we will meet to identify your next milestones and the tasks needed to achieve them.

Manage financial relationships

  • We can help you manage relationships with insurance agents, bankers, 401K administrators, and HR consultants.

Financial analysis

  • With accurate, centralized data, you can analyze the dental practice from different perspectives to identify problem areas as well as opportunities.

Budgeting/Forecasting

  • Forecasts and budgets will be continuously updated to reflect current conditions. Regular reviews during advisor meetings will give you clear insight into results and next actions.

Financial reporting and dashboards

  • Through reports and dashboards, you will have relevant, easy-to-understand timely financial information at your fingertips.

Technology review

  • As new technology enhances automation and make workflows smoother, you can continuously improve your practice. Ongoing productivity improvements will reduce costs and improve patient experiences.

Let’s get started with a thorough assessment to build your detailed report on risks, metrics, and how-to guidance.

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Liquidity

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Profits & Profit Margins

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Assets

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Employees

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And more

For more information email:

Mark Neumann at info@pbanalytics.com

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