As a business owner, your choice of CPA can have a profound impact on your company. A skilled CPA will help you minimize tax burden, assist with audits, payroll, and cash flow, and generate financial reports for your review.
However, an ADCPA member offers the added benefit of their specialized experience with the unique needs facing dental professionals and practices.
What is the ADCPA?
The Academy of Dental CPAs, or ADCPA, is an organization comprised entirely of accountants and financial advisors who have extensive experience working with dentists. ADCPA members meet regularly to share training and workshops, to discuss industry changes, trends, and best practices, and to learn about new techniques and technologies in dentistry.
The ADCPA’s mission is to enhance the expertise of its members through the sharing of knowledge and resources, which are then used to provide accounting, tax, and business consulting services to dental professionals.
What can an ADCPA member do for me?
With their specialized resources and experience, an ADCPA member can provide more targeted support for you and your practice. A skilled dental CPA can not only generate your financial reports, but can also use them to analyze the health of your business, including:
- How do you compare to other businesses in your market?
- Are there ways to further minimize next year’s tax burden?
- Do you have the right number of staff for your production?
- Is your hygiene production appropriate for your staffing?
- Is it time to expand or invest in new technology?
- Could case acceptance and patient conversion rates be improved?
ADCPA members are dedicated to promoting the practice health and success of dental professionals. Contact ADCPA President and founding member Allen Schiff at (410) 321-7707 or by email at ASchiff@schiffcpa.com to learn more about what an ADCPA member can do for you.
Practice leaders set the standard and pace of your work. Managers hover and maintain status quo. Which definition sounds like you? Changing the way your practice is structured or operates can be a vast undertaking. Use these tips to get started on a path for developing an innovative practice that you lead, not manage.
Leaders develop ideas that further practices. Managers use the framework that is already in place. Don’t hover over your hygienists or office staff. Let their work speak for itself and step in where necessary. Demonstrate to your team the qualities you want through your own actions.
Do What You Do Best
The bulk of your time should be spent with patients; that is the best use of your abilities. This means you must delegate tasks to other team members. Leaders delegate tasks. Let your office staff handle the clerical side of the practice. Utilize a hands-off strategy where appropriate to free your time for patients.
Track Team Tasks
Rather than micromanaging your team, have them write or email their daily tasks to you. This will allow you to track the team’s progress and use of time. It will also save you from constantly asking, “What did you do today?” Hold your team accountable for their tasks. Request that your team define their tasks in quantitative terms. Spot-check as you feel necessary.
Know When to Hire and Train
When your practice feels swamped, hire and train. Leaders can recognize if their team is unable to handle the current workload. Pushing your team beyond their limits is not going to produce the results you are striving to achieve. Your team will work best when they have the necessary time and resources to do their tasks.
Leaders don’t have the time to micromanage. Leaders know when to back off and let the practice run on its own. This doesn’t mean you should let your entire operation always run on auto-pilot, but focus on letting each team member contribute their abilities in the best capacity. The only way to break through the status-quo is to allow for new ideas and strategies to take hold. This cannot be achieved if you are spending your time hovering over your team. Transform the way you manage your practice and your practice will transform itself.
To learn more, contact our office.