Dentists hope that the investment made in becoming a dentist, which can be a tremendously enjoyable and satisfying career, will also create the opportunity for financial security, substantial wealth accumulation, and a satisfying and comfortable retirement. However, many dentists do not recognize that wealth accumulation is not automatic. There are certain trends to understand and steps to take to ensure an excellent financial future.
Analyze production. Production is by far the most important factor in both understanding a dental practice and understanding the career savings potential of a dentist. Production allows the practice to perform at elevated levels, creating profit and income for the doctor, which can then be properly invested in either their lifestyle or savings.
Don't forget hygiene services. You can increase hygiene services by as much as 20% by making sure that all patients are up to date on x-rays and fluoride.
Dr. Roger P. Levin is CEO of Levin Group, a leading practice management and marketing consulting firm. To contact him or to join the 40,000 dental professionals who receive his Practice Production Tip of the Day, visit LevinGroup.com or email [email protected].
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