There’s a popular belief that CPAs are a dime a dozen, so it doesn’t matter which firm you choose. Don’t believe it. For dentists who own their practices, it’s especially untrue. A dental CPA firm brings a wealth of industry knowledge and expertise to the table and can play a much bigger role in helping a new practice owner get on the path to financial security.
Since 2016, I’ve worked at a dental CPA firm. Prior to that I worked at a few firms providing corporate and tax accounting services. None of the jobs I had before gave me the satisfaction I get in my current position, where every day I help dentists build successful businesses. My clients run the gamut – from big practices to small, new owners to those close to retirement. Our firm’s laser focus on the dental industry means I can provide a level of support that other CPAs lack the knowledge base to offer. Here are a few of the ways our dental CPA firm makes a difference in our clients’ practices.
Expertise Yields Value-Added Advice
By knowing the ins and outs of the dental business, we start delivering value on day one. Our experience with everything from dental procedures, to insurance reimbursements, to billing codes, are all part of those early conversations as we work to map out a path to maximize profitability. We are not afraid to get into the weeds and we are well versed on industry metrics. For example, we know what the accounts receivable for a given-size firm should be. If a client isn’t meeting that metric, we devise a plan to help them get there.
Imagine working with a CPA firm that actually gives you the gift of time. We do that for all of our clients. Practice owners are busy people, and their time is literally worth money. We work with our dental clients to implement technology that makes their systems more efficient. Our web-based software allows us to assist with time-consuming tasks that can drain productivity from the day. The time our clients save on the business side is available for other things – like seeing more patients or spending more time with family.
Ensuring Successful Careers and Smooth Transitions
We become valued advisors for every stage of a client’s career: as they transition from an associate to buying their own practice, to building that practice, to approaching retirement and looking to sell what’s become a valuable asset. Our firm journeys with them, making sure their practice is profitable and they’re building wealth every step of the way.
Our expertise was invaluable to clients over the last year when practice owners were faced with all the uncertainty around COVID-19. At a time when emotions were running high, we provided steady guidance about how to navigate all the uncertainty around shutdowns, PPP loans, unemployment filings, added operations costs, etc. We helped clients make choices that were in their best interests, recognizing that what made sense for other businesses, didn’t necessarily apply to the dental industry. Our clients really appreciated our help getting them through what’s been a challenging time for everyone.
I enjoy helping my clients achieve their goals. If you’re interested in learning more about how a dental CPA firm could make a different in your practice, contact us today.