If you are running a dental or medical practice, the last thing that probably gets attention is the business, tax and legal operations of your practice. Caring for patients, managing staff and just keeping the wheels turning is usually plenty to consume the available time in the day and during the week.
However, sometimes taking time away and getting a look at your practice’s performance and structure and how they line up with your expectations and goals is just the thing needed to keep the practice healthy and on the right path.
Some of the items NC Planning encourages and works with dentists and doctors to review are:
- Financial Benchmarking & Analysis
- Debt and Loan Review
- Practice Valuation
- Tax Review and Projections
- Expense Ratios and Comparisons
- Retirement and Benefit Planning
- Legal Structure and Entity Compliance Audit
- Buy-Sell and Succession Planning
- Expansion Strategies and Advantages
- Employee Structure and Key Roles
- Insurance Policy and Costs Review
- IT and Disaster Planning
- Tax Efficiency and Opportunities
- Marketing Planning
- Vendor Arrangements and Cost Impact
- Long Term Strategy and Exit Planning
The last thing we want is for clients to be surprised after years of doing something that they could have been doing better and more efficiently. Consistent and proactive planning can help you find those issues early and prevent lost opportunities.