Advising & Support

Overview

Comprehensive Advice and Support for Your Dental Practice

Having up-to-date financial information is an important part of measuring your success. However, the only feedback that most general accountants provide is in the form of a generic Profit & Loss statement. These basic statements are not the most useful or easy-to-read document for busy practice owners.

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Practice Profitability Analysis^SM

Feel Connected and In-Sync with Your Practice Results

Our proprietary Practice Profitability Analysis^SM takes your information to a much higher level by aggregating data from the financial statements and blending it with select information from your practice management software. The results are then presented in a concise, industry-specific format which provides an exceptional level of clarity regarding your practice profit.

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Performance Tracking

KPIs and Benchmarks

It’s crucial to have solid metrics to measure your practice’s financial health against. That’s why we measure critical KPIs (key performance indicators) and benchmarks that provide key information accurately and effectively.

Crucial KPIs of a practice’s financial health include Revenue per Month, Profit Margin, Operating Cash Reserve, and a Monthly Break-Even Point. We use these KPIs, along with key benchmarks, to track your monthly finances and measure the true financial picture of your practice when expense categories specific to the dental industry are isolated and presented with context.

HDA Accounting Group maintains an incredible amount of data to provide accurate and real-time comparisons and perspective for our clients. The Client Average presented on each report shows you how hundreds of other practices just like yours are performing during the same period. All accounting work for those dental practices is standardized at the same dental-specific CPA firm, so the data samples provided on our monthly reports are highly accurate, comparable, and substantially relevant.

Trend Analysis

Visual Data is a Powerful Management Tool

All dental practices will have some degree of volatility with monthly revenue and expenses. Without an overall perspective on the big picture, these natural fluctuations from month to month can make practice ownership more stressful.

Our Trend Analysis with graphical presentation of recent performance is designed to be a helpful tool when identifying long-term trends and gaining perspective on overall practice performance.

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Diagnosing Your Practice

Get Real, Accurate Insights In Your Practice’s Performance

Our hands-on approach to advising means you are not on your own when evaluating your practice’s performance. From the very first practice profitability consultation, you’ll get insights into our reporting, why it’s important, and what the data means for you.

For a detailed explanation on how dental-specific accounting and profitability advising can benefit your practice, this podcast provides valuable insight.

The Practice Growth Podcast: Discussion with Morgan Hamon, CPA

This podcast includes a detailed discussion with Dr. Shawn Terrel on the proprietary monthly reporting prepared by HDA Accounting Group and how that report is prepared. The discussion then pivots to tax planning and best practices to achieve and maintain practice profitability. 43 minutes.
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Responsive Service

Industry-Leading Quick Response Times Make Us Unique

There will be times when you need assistance or have questions regarding an important matter.

Whether you wish to take a deep dive into your Practice Profitability Analysis^SM and discover opportunities for profit improvement or discuss a quarterly tax plan and learn more ways to save on taxes, you can expect our team to be helpful and responsive with same-day response times for emails and convenient online scheduling for appointments.

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Ongoing Relationship

Three Levels of Support

Accountant

Every practice has an assigned accountant who performs work in QuickBooks and prepares monthly reports for delivery. They will contact you if there are any transactions or activity that is unclear to them.

Profitability Advising

Our business advisors are available to help you understand Practice Profitability Analysis^SM and answer questions you may have. Online appointments are the best way to schedule these meetings as they allow us to prepare ahead of time for a substantive and productive meeting.

Tax Advising

Our experienced tax advisors will help you understand your tax situation, elements applicable to your overall tax planning, and answer tax questions. Easy-to-schedule appointments are the best way to set a time to review your tax questions.

Startups and Acquisitions

Start Your New Practice on the Right Foot

Many of our dental practice owners started with HDA Accounting Group prior to opening day. Our firm will help you navigate your business launching and get started on the right foot, from choosing the appropriate entity and tax classification to analyzing a seller’s financial statements to estimating potential take-home pay.

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Testimonials

What It’s Like Working With HDA Accounting Group

We pride ourselves on forming close relationships with our doctors and delivering the best client experience possible. Meet some of our clients for yourself and see what they’re saying about being part of the HDA Accounting Group family.

“HDA has been super attentive month after month and has helped me lower my tax liability substantially…

I’ve been using them for about a year and they will not only break down my numbers monthly but give me an idea of how those numbers stack up against other dentists in my area. This has helped me catch trends I wouldn’t have seen before. An example is my dental supplies expenditure jumped. I thought it was just because the cost of supplies went up with covid. Yes… but mine went up about 30% more than the rest of their practices. I wouldn’t have seen that without their insight. So far, I’m super impressed!”

– Dr. Kyle O’Donnell

“I have always dreaded the lofty task of bookkeeping, paying bills, payroll, watching margins, and keeping tabs on the financial aspects of my business…

I signed on with HDA. Right from the start and they have made my life much easier. They watch EVERY aspect of my business for one very reasonable monthly fee. I always look forward to the quarterly review, with Morgan, where he goes over a detailed report covering every financial aspect of my business. I always know where I stand and never lose sleep about this vitally important component of my business. I couldn’t be happier with HDA.”

– Dr. R. De Rosso

“Super happy with HDA accounting over the past 2 years…

They guided me through my start up dental practice with not only accounting services, but also lots of wisdom from Morgan’s many years of experience. Their reports are informative for a deep dive and graphical for an overall view of how the practice is going. They help benchmark against practices all across the country. Everyone I’ve talked to has always been helpful. The return on investment for their services each month is great. Can’t ask for much more!”

– Dr. Dylan Patrick

“I was first introduced to Morgan and HDA through a friend of mine who trusts this accounting group with his numerous dental practices….

As a doctor looking for my first practice, I’ve found it very hard to find an accountant who would talk me through finding my dental practice and who would show me the same respect as my peers who have more clout than myself (Multiple practice owners). Even though Morgan Hamon is very busy with his much deserved success, he always answers my calls personally and in a timely manner. Morgan and HDA, thank you so much for all the help you have given me. You guys are true legends!”

– Dr. Sean Kerns

“I highly recommend HDA for any dental accounting needs…

I used to be a client of HDA, but I joined a group that has its own accounting team. I appreciated the monthly reports HDA prepared for me. Recently I went through an IRS audit. Cortney quickly responded to all of my questions and sent me the documentation that I needed even though I am no longer a client. Thanks to her help, I was able to get through the audit unscathed.”

– Dr. Trever Keele

“HDA has done a phenomenal job with our personal and business accounting needs…

They really have a pulse on the dental industry and their insight and expertise is extremely helpful and goes well beyond simply preparing profit and loss statements or managing our QuickBooks. We highly value HDAs input as we make strategic decisions in the short, intermediate, and long-term time frames. I would highly recommend HDA for all of your accounting needs. Quite simply, for us, their services are required for us to confidently grow our business.”

– Dr. William Herr

“I would recommend HDA to anyone!

Morgan and his team are responsive, professional, give fantastic advice, and are very organized in their work manner. We are so happy we work with them – thank you HDA!”

– Dr. Lindsay Fabs

“I switched to HDA from another dental specific accounting firm and the difference has been night and day…

The monthly reports are amazing and the onboarding process was effortless and informative. I am totally satisfied.”

– Dr. Benjamin Dunham

“I have been a client for awhile now and I am very pleased with the amount of work, detail and level of knowledgeable folks that work here…

I am given immediate attention to any matter addressed, I am advised and educated as well on what I could or should be doing for my business. Thanks again to Morgan and his fantastic team.”

– Dr. Kyle Daniel

Learn more about HDA Accounting Group

Set up a no-obligation consultation to discuss how our firm can provide a level of insight and perspective on your dental practice that you have not experienced before.

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Call Us: 303.799.0476

Advising & Support

Comprehensive Advice and Support for Your Dental Practice

Feel Connected and In-Sync with Your Practice Results

KPIs and Benchmarks

Visual Data is a Powerful Management Tool

Get Real, Accurate Insights In Your Practice’s Performance

The Practice Growth Podcast: Discussion with Morgan Hamon, CPA

Industry-Leading Quick Response Times Make Us Unique

Three Levels of Support

Accountant

Profitability Advising

Tax Advising

Start Your New Practice on the Right Foot

What It’s Like Working With HDA Accounting Group

Learn more about HDA Accounting Group

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