Do you get to the end of the month and look back and wonder where all your money went? Running a dental office is a lot of work. Taking care of patients’ oral health and care is only a small sliver of all that is involved in running your practice. In addition to patient care, your eye must remain on the bottom line and profits as well. A financially astute dental professional needs to track expenses to maintain a profitable business from month to month.
Dental Office Average Expenses
The largest majority of expenses are usually the wages to your employees. This amount varies greatly and depends greatly on the size and age of your practice. Well-established offices may require less staff due to less processing needs of new patients. As a general rule, wage payment is about 25 percent of the total dental revenue.
Dental supplies are required to carry out the treatments and services. These supplies typically take about 5 percent of dental revenue. Lab fees require about 10 percent of expenses. Other expenses include:
- Dental association dues
- License renewals
- Property (real estate expenses)
- Malpractice insurance
- Technology updates
If you’re feeling overwhelmed with the flow of money in and out of your office, why not contact Blueprint Smiles to help you create a financial plan for long-term peace of mind. We will help you manage your overhead costs and manage your accounting. Call us today to start your overhead analysis services from Blueprint Smiles.
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