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.
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.
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.
Listen Now ›
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 AnalysisSM 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.
Three Levels of Support
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.
Our business advisors are available to help you understand Practice Profitability AnalysisSM 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.
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.
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.
Call Us: 303.799.0476