Your oral reconstruction surgery practice may include multiple office locations, dozens of working dentists, and oral surgeons. As a result of the capacity influx, you may face the prospect of growing too fast, without proper systems in place to sustain new demands.
Unfortunately, if that happens, you may have to downsize, but another option is seeking oral reconstruction surgery practice financial advisory.
You may have dedicated years of practice to become an oral surgeon and managing accounting functions may not be at the top of your list of skills. Still, accounting, bookkeeping, and tax planning are necessary financial functions in many business entities. For example, your dental practice may benefit from staying current with financial, taxation, and growth strategies. You may not have extensive knowledge of these aspects of financial management. So, here's a shortlist of the services you may be able to outsource to an oral reconstruction surgery practice accounting expert:
- Tax planning: Oral reconstruction surgery practice accountants may be able to help you minimize your federal and state tax burden — this might be the keystone among professional accounting services. It may encompass both short-and long-range goals depending on service needs. Another plus is that you may be able to optimize tax planning for your clinic to such an extent that profits rise even without the addition of new patients.
- Oral reconstruction surgery practice bookkeeping: Bookkeeping services that may be able to be optimized to a busy dental practice, or one seeking expansion. This service may be helpful year-round to help you stay organized. Our accountants here at Fusion enjoy going beyond complaint bookkeeping services to help transform your accounting strategy. We understand that proper bookkeeping entails more than just the bottom line.
- Oral reconstruction surgery practice financial advisers: A CPA may be able to work as your full-time financial adviser. Good financial advisory services may be able to help uncover errors in your financial management processes to help improve your overall strategy.
- Benchmarking: Dental practices may benefit from staying current with financial, taxation, and marketing strategies. Benchmarking encompasses functions that may help support marketing efforts. The goal is to analyze your productivity, competitiveness, and more. Sometimes, unless you set and regularly review your financial benchmarks, it may be difficult to grow your practice. If you don't want random financial results from quarter to quarter, but would rather expand your practice, and income, with each passing year, you may need to set and monitor specific benchmarks with your CPA.
- Tax law: With multiple tax legislation pending, the entire medical field is in a state of uncertainty and change. Not only have national health insurance programs fallen into a state of stalemate, but generally, some private insurers are in a holding pattern when it comes to issuing new plans for millions of U.S. adults, many of whom have inadequate health coverage, or no coverage at all. Your accountant may be able to help your practice stay ahead of the curve on legislation, state regulations, and any tax laws that come into effect.
Putting It All Together
We at Fusion CPA, have years of experience in oral reconstruction surgery clinic CFO business advisory. There is usually much more to assisting dental professionals seeking to expand their practice than offering routine services. So, if you decide it's time to grow your practice or want to manage your current patient load better, it may be time to get help from an expert. Our oral reconstruction surgery clinic financial advisers may be able to help you navigate through complexities within your business structure and optimize your processes across the board. Let us know your goals. You can learn more about our services by clicking the button below to schedule a complimentary discovery call today!
This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.