How Dentists Can Remain Compliant with Relief Funding and Increase Dental Practice Profitability

Art of Dental Finance and Management

This week’s episode of The Art of Dental Finance and Management podcast focuses on COVID-19 related relief programs dentists can take advantage of, as well as tips and key business metrics to operate a more profitable practice. On October 28, the U.S. Department of Health & Human Services (HHS) released new updates to the HHS Provider Relief Fund FAQs that added removed and modified guidance. Art reviews these updates as well as provides additional helpful dental practice finance and management guidance, including: • Updates on filing for Paycheck Protection Program (PPP) loan forgiveness • Phase 3 funding for the HHS Provider Relief Fund • How dentists should document relief fund expenses • Preview of Democratic Presidential candidate Joe Biden’s income tax plan • Financial tips and tax savings dependent upon who wins the presidential election Art also discusses key business metrics related to helping dentists run a more efficient and profitable practice, including: • A formula for calculating total production in a dental practice • The importance of minimizing cancellations and no-shows • Increasing production and meeting practice goals with your morning huddle Reach out to Art if you have any questions regarding dental finance and management for your dental practice. More information about the Eide Bailly dental team can be found at www.eidebailly.com/dentist. Maximize your practice profitability with the support of our team of dental industry professionals. https://www.eidebailly.com/industries/health-care/dentists. Be sure to like and share our 100th episode podcast post on our social media channels to be entered to win a $100 Visa gift card. You can also subscribe on our website to receive information on future podcasts to be entered for a chance to win!