Why Dental Office Budget Planning?
Dental Office Budget Planning is best done in the fall of the year. And is the first step to success in the coming business year. Because this is how we create our production goal for the new year.
Without a plan, we have only hope. And we want more than hope in our business. We want a solid plan for success. So, join me in this adventure. Fall is a fabulous opportunity to embrace change. A season of letting go of the old. And embracing the new!
Dental Office Budge Planning Guide
My dental office budget planning guide is available exclusively within my pre-built Dental Office Operations Manual.
Schedule your FREE tour of this powerful tool with me today! You’ll only find this here.
Look at Last Year's Spending
Look at all of the spending for last year first. Consider every category.
- Dentist’s Salary
- Team Compensation
- Resource Development
- Return on Investment Expenses
Dental Office Budget Planning Looks Back
Consider each category individually. And also look at the total spent last year. Are you on track to cover all expenses and profit this year? What needs to change for the new year? Where can adjustments be made?
Define Production Needs for Next Year
Next, look ahead. Where do we expect an increase in cost and spending? What major purchases will make? Where do we want to invest more money. And where do we want to reduce spending?
Dental Office Budget Planning Looks Ahead
Set the mark. Budgeting is not an exact science. And is best when it’s flexible. Use budgeting as a guide and tool to get you where you wish to go.
Remember to include team training and development into your budget (Resource Development category). As team training and development is an essential step to practice growth and expansion!
Build Your Daily Templates
Now that you have your new year’s production goal set, it’s time to break that down. Break this down by provider. Determine how much the dentist(s) and the hygienist(s) will each be responsible to produce.
Then, break that down into monthly, weekly, and daily production goals. From there, look at the procedures your office performs. And their frequencies.
You’ll find a more detailed step-by-step guide available to you here. Within my Advanced Dental Block Scheduling Guide. Work out your budget and financial plan. Then create your block schedule template.