The 10 Minute Healthcare Marketing Podcast

Is it Time to Hire a Dental Associate?

Strategic Considerations for Hiring an Associate Dentist
This episode explores the complexities of hiring an associate dentist for your practice. We discuss the strategic considerations, decision-making framework, pros and cons of this crucial decision, and its potential impact on patient care, practice profitability, and overall practice management.
 
Key Points:
Evaluating your practice's current status, growth goals, and patient load is essential before considering hiring an associate dentist.
Candidate selection involves defining qualifications, skills, and potential partnership options, along with exploring various compensation models and legal considerations.
Financial analysis, workflow adjustments, and long-term commitment considerations are vital in the decision-making process.
Pros include increased patient capacity, practice growth facilitation, delegation of responsibilities, enhanced expertise, and potential future practice transition opportunities.
Cons involve initial expense increases, staff adjustment challenges, and concerns about potential turnover, particularly with contract-based hires.
 
Conclusion:
Hiring an associate dentist requires a comprehensive understanding of strategic and practical implications. Collaboration with dental marketing experts can help map out a growth strategy to support practice goals and optimize the benefits of hiring an associate dentist.

Dental CPA: Why Hire a Dental Accountant for Your Practice?

Dental CPA: Why Hire a Dental Accountant for Your Practice?
Accounting for dental practices can be complex and time-consuming. Hiring a dental CPA can help with tax preparation and filing, financial planning and management, loan and financing advice, practice acquisition, mergers, and transition advice, as well as bookkeeping and payroll processing. A dental CPA is a Certified Public Accountant who specializes in accounting and tax reporting for dental practices. They can help identify potential tax credits or deductions, manage finances, evaluate financing options, and navigate practice acquisitions or transitions. Hiring an experienced dental CPA is preferable to hiring a general CPA.
Hiring a dental accountant can help set up an easy-to-maintain bookkeeping system and choose a reputable payroll provider to avoid mistakes that can lead to an IRS audit. They can also update you on regulatory and legislative changes, help with tax-planning strategies, and maximize practice value. The cost of hiring a dental accountant is typically between 0.5% and 2% of your annual income. To find a qualified dental CPA, research firms with specialized dental expertise, check for credentials and certifications, consider location and availability, and evaluate fees and payment policies.
This episode provides advice on choosing a dental CPA. It includes looking at client reviews on sites like Yelp and Google, preparing interview questions, and understanding common write-offs for dental practices. Hiring a dental CPA can help with tax savings, financial planning, and practice growth.
 
This blog post was a guest blog written by Jared Ripplinger, CPA, MBA, CFP, CVA
of:
CMP
Utah Accounting Firm in Salt Lake City
2180 South 1300 EastSuite 430Salt Lake City, UT 84106
(801) 467-4450
Logan Accountants
632 North Main StreetLogan, Utah 84321
(435) 750-5566
 

How to Improve On Your Practice Collections

How to Improve On Your Practice Collections
Many dental patients do not have dental insurance, so dental practices often offer payment plans. However, this can result in past-due invoices, which can cause issues with cash flow. Dental practices lose an average of 9% of their revenue to uncollected bills, and overdue accounts receivable can impact the valuation of a practice. To reduce overdue accounts receivable, dental practices should perform proper insurance verification, provide out-of-pocket cost estimates, put financial guidelines in writing, create an in-house dental membership plan, make sure patients understand their financial responsibilities before treatment and offer incentives for up-front payment.
This post provides tips for dental practices to increase their collection rate for past-due invoices. Suggestions include engaging in friendly and persistent follow-up communication, training and involving the team in the collection effort, offering flexible payment options, sending billing reminders on patients' preferred channels, offering electronic billing, and setting up shorter billing cycles. The article also discusses the option of using a dental office collection agency as a last resort.
The podcast discusses the pros and cons of using a dental collection agency to collect past-due invoices. While it can provide relief, there are also drawbacks such as high expenses and distressing patients. It suggests considering a collection agency as a last resort. It provides questions to ask when choosing an agency, such as their recovery rate and whether they specialize in the dental field. It also emphasizes the importance of reducing accounts receivable to improve cash flow and offers assistance through Titan Web Agency's services.

Choosing the Best Dental Bookkeeping Firm For Your Practice

Choosing the Best Dental Bookkeeping Firm For Your Practice
Running a dental practice involves managing financial aspects such as keeping accurate records, paying employees, and paying business loans. Titan Web Agency helps dental practices market their businesses and partners with CPAs who can provide financial advice. Hiring a dental bookkeeping firm can provide benefits such as organization, accuracy, analysis, tax compliance, and time management. Both a dental bookkeeper and an accountant serve different purposes and are necessary for financial management. When choosing a dental bookkeeping firm, consider its expertise and experience in the dental industry, its services, the technology and software used, and its communication and availability.
Consider Compliance Requirements
As a dental practice, you have specific compliance requirements that your bookkeeping firm must adhere to. These include HIPAA regulations for protecting patient information and IRS regulations for tax reporting. Ensure the bookkeeping firm you hire is familiar with these requirements and has experience working with dental practices. They should be able to provide documentation of their compliance efforts and answer any questions you have about how they will ensure your practice remains compliant.
When hiring a bookkeeping firm for a dental practice, there are several factors to consider. One important factor is compliance with industry regulations and laws, particularly HIPAA compliance for protecting patient information. It is recommended to ask about a firm's experience with data breaches or HIPAA violations and their current measures for ensuring compliance. Fees are also a primary concern, and transparency about charges is important. Additional charges for services like payroll should also be considered. Hiring the right bookkeeping partner can help maximize financial success for a dental practice. Titan Web Agency offers digital marketing services for accountants and dental booking firms and can provide a free consultation for assistance in selecting a firm.

Convert More Google Ads With Improved Landing Page Design

Convert More Google Ads With Improved Landing Page Design
 
Creating a dedicated dental landing page for Google Ads can significantly impact the success of your campaign by increasing conversion rates, improving ad relevance, and boosting ROI. A high-quality landing page can also affect your Quality Score, which can lead to a lower cost per click and a higher ad position. The landing page should be highly relevant to the keywords and ads you target, feature personalized CTAs, and include the same offer used in your ad. It should also be clutter-free and easy to navigate. Creating focused landing pages for each service you advertise is important for attracting potential patients.
To ensure potential patients don't leave your landing page, make sure it matches the offer in your ad and speaks to the same audience. Key elements of a successful dental landing page include a compelling headline, clear call to action, smile-worthy photos, social proof, contact information, logo display, mobile optimization, opt-in forms made easy, and trust symbols. To create a dental landing page for Google Ads that convert, choose a landing page builder, create a wireframe, write compelling copy, design the page, optimize the landing page form, add tracking and analytics, test and optimize with A/B testing, and launch and monitor.
The text provides examples of successful dentist landing pages, including those for dental implants and Invisalign. It also answers frequently asked questions about dentist landing pages, such as whether they should have navigation and how often they should be updated. The article emphasizes the importance of creating a well-designed landing page to attract new patients and grow a dental practice. It also suggests seeking professional help from agencies like Titan Web Agency to create effective Google Ads dental landing pages.

Dental Practice Financing Tips & Advice

Dental Practice Financing Tips & Advice
Opening or purchasing a dental practice can be expensive, and many dentists lack the necessary savings to cover all their expenses, especially if they have high student loan debt. Business loans for dentists can provide the money needed to achieve their goals, and financing may come in the form of private investors, business loans, or lines of credit. There are four use cases for dental practice financing: starting a new practice, buying or expanding an existing practice, purchasing or upgrading equipment, and infusing working capital. Some common myths about dental practice financing include that you can't qualify if you have student loan debt, you shouldn't talk to a lender until you're ready to apply for a loan, and you can use the same loan to buy property and finance your dental practice.Dental practice financing can help dentists achieve their business goals, such as expanding their practice or upgrading their facilities. There are several types of loans available, including traditional bank loans, business lines of credit, SBA loans, term loans, merchant cash advances, and online lenders. The requirements for these loans may vary, but lenders typically require essential documentation and paperwork, as well as financial condition and credit history information. It is important to carefully consider the terms and fees of each loan option before making a decision.
Before applying for dental practice financing, it is important to have financial reports such as income statements, cash flow statements, and tax returns ready. Lenders will also require information about the patient base and staff of the practice. Good to excellent personal credit is usually required, with a FICO score of 690 or higher. Seeking professional assistance from a dental accountant or lawyer can help choose the best financing option and prepare the necessary documents. Dental practice financing is widely available from various sources.

Best Practices for Naming Your Dental Office

Best Practices for Naming Your Dental Office
In this blog post, we discuss and provide guidance on how to choose a name for a dental practice. It emphasizes the importance of finding a name that is both professional and memorable and provides examples of catchy, clever, and creative dental office names. The text also suggests that the name of a dental practice can impact its search engine rankings, and offers tips for choosing a name that boosts SEO performance. Finally, the text notes that some dental office names may suggest specialties, such as pediatric dentistry or cosmetic dental services.
Choosing the right name for a dental practice is important for marketing and building name recognition. Dentists can choose names that reflect their specialty, such as Kinderdental for pediatric dentistry or Smileology for orthodontics. Unique names like Dentique or Tooth Fairy Dental can also make a practice stand out. For teeth whitening businesses, names like Smile Bright or White Smile Dental Spa can be effective. Group practices can use names like The Dental Queens or Smile Squad to indicate multiple dentists. A good dental practice name should be short, inspire positive associations, and make it clear what services are offered. Location words can also be helpful in the name.
When choosing a name for your dental clinic, it is important to consider your goals, vision, and circumstances. Using taglines with your name can make it more appealing and memorable, and highlight your unique value proposition. It is not recommended to use "near me" in your business name as it may not be a good long-term strategy and could result in costly rebranding. Legalities should also be considered when choosing a name, including checking for availability and trademarks. Ultimately, the name should align with your personal brand and be easy to remember.
Choosing a name for your dental practice involves considering different approaches, such as using your name, incorporating your specialty or services, including your city or neighborhood, and targeting your audience. Using locational keywords in your business name can help put your practice at the top of Google's Search Engine Results Page (SERP) and optimize for local keywords. It is also important to consider your plans for the future, such as selling the business or adding a partner. Ultimately, the name you choose should be memorable and speak directly to your target audience.
We provide tips for creating a memorable and effective name for a dental practice. It suggests using words like "smile" to evoke positive emotions, playing with wordplay and rhyming, and considering the availability of domain names and logos. The text also emphasizes the importance of creating a warm and positive image for the practice to put patients at ease.
Choosing the right name for your dental practice is important for attracting new patients and building a memorable brand. The name should be easy to pronounce and remember, evoke an image of what you do, and be clear about your philosophy or mission statement. Adding "Family" to the name can attract families and differentiate yourself from competitors. It's important to keep the name short and memorable, think about sign options, and do demographic research to identify needs in your community. After choosing a name, the next step is to use it to market your practice and increase profits with the help of a dental web marketing agency.

The Key to Relocating a Dental Practice

How to Relocate a Dental Practice
In this episode, Kirkland Family Dentistry discusses the recent move of their dental practice after 20+ years at the same location. The process took about 3-4 years from finding a new building to move-in day. They provide tips and a checklist for dental practice relocation. They suggest starting to look for a new space four to five years before you want to move or your current leasing the right-size space near your current practice and at your target price may take several years. They also suggest considering demographics, parking, visibility, accessibility & convenience, proximity, and future growth when choosing a new location for your practice. Negotiating a purchase or lease may take several months, and designing your space once you've secured it may take one to eight months. Proper planning is crucial for a seamless transition, controlling costs, and minimizing downtime.
When building a new dental office, expect construction to take four to 12 months, and contractors may take longer due to factors outside their control. Using an existing office may lead to financial savings, but there may be complications with the building's electrical and plumbing systems. Relocating a dental office requires notifying patients, updating online sources and voicemail, and moving equipment. Careful choreography of the equipment move can prevent costly downtime, and coordination and communication are critical for minimizing downtime during the move.
Any dentist who is considering a move needs to listen to this post. It covers various aspects of the relocation process, including scheduling the move, preparing the new space, updating licenses and insurance, notifying relevant boards and associations, updating online directories, and promoting the new location. It emphasizes the importance of planning ahead and coordinating with professionals to minimize downtime and ensure a smooth transition.
It is highly recommended to work with a dental marketing company, such as Titan Web Agency, to ensure a seamless transition. The agency helped Kirkland Family Dentistry update its online profiles and enhance its digital brand to reflect its new location. There is great value in a digital partner in making a successful transition.