Have you ever wondered if it is necessary to use a CPA who works specifically with dentists? I think it is a good question to ask and today we will review some of the benefits.
Using a dental CPA is important because they know and understand your industry. They understand your language and your business model.
A dental specific CPA knows what your overhead should be. They can advise you if your overhead is high in certain areas and they can help you with the specifics of how to lower your overhead. They know what your income should be as well as your write-off percentage. They can even help you set your fee schedule. A good dental CPA should be able to teach you and your team exactly what you need to do to establish quality internal controls to minimize your risk for embezzlement.
In addition, they need to know your practice management software and the equipment you need to buy. They can show you how to run various reports from your software and tell you about what they have seen in other practices interested in buying a Cerec Machine or a Cone Beam. They can help you with what has worked and what has not worked when others have purchased this type of equipment.
A CPA who is specific with your dental industry knows where the trends are. They can help you steer your ship; and help you set your practice apart from the competition so that you can survive in tough times.
A great dental CPA can also help you ask the right questions; they help you with what you don’t know. Very often they have already seen and helped other dentists go through the same challenges you face in your practice. They know what people have done, before you, that works well and what has not worked well.
Contact us today for your dental specific accounting needs. We are here to help!