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The 4 Perks of Direct Ownership Investment
July 28th 2017Owning property is a tried-and-true way to gain passive income. But do you really know how and why real estate contributes to your wealth? Passive Income MD has boiled it down to the four main channels of ownership benefits. Continue below to learn more.
50 Ways I'd Like to Enjoy Early Retirement
July 14th 2017Time flies when you're having fun. Or, as Kermit tells us, time's fun when you're having flies. Physician on Fire has a few ideas about how he wants to spend his time after retiring from his anesthesiology career. If you, too, are thinking of retiring early, continue below for some inspiration.
4 Common Mistakes Dentists Make When Planning for Retirement
July 6th 2017It takes a lot of hard work, plenty of studying and no shortage of determination to become a dentist. Those are the same skills needed to successfully save for retirement, and yet, many dentists struggle to build up enough savings to live the lifestyle they desire in retirement. CPA Douglas Fettig sat down with DMD to share his insight regarding retirement planning for dentists in particular. Continue below to learn how to manage your retirement plans.
The latest hourly and annual salary numbers for dental lab technicians
June 30th 2017Looking at the most recent data from the US Bureau of Labor Statistics – and what it means to you Ideally, we see our dentists twice a year – just for cleanings and incident-free checkups. Regrettably, there are times when more work is required, and in some cases, crowns, bridges and maybe even dentures are needed.
The latest hourly and annual salary numbers for dentists and dental assistants
June 30th 2017Looking at the most recent data from the US Bureau of Labor Statistics – and what it means to you. In order to be a dentist – or anyone in the healthcare field, for that matter – one has to want to help others. And while there is an altruistic element to the work, the fact remains that dentists want to get paid for their hard work.
3 ways to fix a cash flow problem in your Practice
June 27th 2017If your cash flow is dropping, it may be time to reinvest in your team. Your practice is a living, changing organization, and it ends each day a little different than it began. Slight changes in revenue, outstanding receipts, patient load and procedural requirements occur daily and regularly at your practice. These changes not only have an impact your practice on their own, but they also carry quite an effect when combined.
Is a bonus system right for your practice?
June 27th 2017Some of you are probably saying, “No way! I can’t afford to pay my team more money. I haven’t raised fees in three years and the insurance companies keep cutting reimbursements.” That’s an understandable reaction. After all, employee compensation is the biggest expense in a dental practice.
EHR Incentive Program marches on
June 27th 2017Having assisted dental groups and DSOs obtain EHR subsidy payments over these past few years, I can tell you that because of all the misinformation and misunderstanding about the rules behind this program, many groups and DSOs will miss out on millions of additional payments over the next five years if they don’t truly understand what their ongoing rights are.
Dog Days of Summer: Plan a Trip with Your Furry Friend
June 13th 2017More and more dog owners are bringing their four-legged pals along on trips. You and your pooch can enjoy the companionship of the road and new environments, but like any family journey, this one takes preparation. To ensure your road trip with your furry companion remains safe and enjoyable, follow the tips below.
Brokerage Liaison Talks Influence of Demographics on Real Estate Strategies
June 9th 2017Brokerage liaison Brandy Keck of Carr Healthcare Realty, a firm that specializes in selling and buying real estate for medical professionals, knows a thing or two about demographics. Keck sat down with Dentist's Money Digest® at the Yankee Dental Congress to provide insight on how Carr recommends real estate purchases to dental clients. It makes sense, she said for generalist and specialists to come together if patients can be referred back and forth.
2 Big Retirement Mistakes that Dentists Make
April 6th 2017You may not be as ready for retirement as you think you are. For example, have you talked to your spouse about what he or she will do with you being around the house more often? Kerry Straine, CPBA and CEO of Straine Consulting, says that this is one of two common retirement mistakes he sees dentists making. Discover the second, and how to avoid both, in this clip.
Practice Real Estate: Your Quick Guide to Making the Major Purchase
March 24th 2017Brandy Keck, is a brokerage liaison at Carr Healthcare Realty, a firm that specializes in selling and buying real estate for medical professionals. Keck sat down with Dentist's Money Digest at the Yankee Dental Congress to give dentists advice on the practice real estate purchasing process. Assembling the right team of experts, she says, is critical to making the process work.
Retirement: Picking the Right Plan for You and Your Practice
March 23rd 2017Don't let yourself get too distracted by the day-to-day demands of dentistry. You still have a future for which to plan. Dentists have many retirement account options, but they can't take a one-size-fits-all approach to selecting the right one for themselves and their practices. These are some good IRA and 401k options.
Tips on Selling Your Dental Practice the Right Way
March 20th 2017The sale of your dental practice is not a process you should enter lightly. After all, you've been working your entire career, building up to this moment. It's important that you have your bases covered during the transaction. That's why working with a strong dental transition team is so critical.
5 Common 401k Rollover Mistakes to Avoid
March 16th 2017Put yourself into this hypothetical scenario. You just landed a new job in a dental practice that offers a 401K. Great. But what do you do with your old 401K? Leave it where it is, or roll it over to your new employer? Each move comes with pros and cons. There are, however, common pitfalls that you should avoid.
9 Tips for Purchasing a Dental Practice
March 1st 2017So, you're thinking of going into business for yourself? We get it, the appeal of owning your own practice and being your own boss is strong. But before you begin shopping around, there are some important things you need to know. Here are 9 tips that will help ensure your practice acquisition goes smoothly.
You're Ready to Buy Dental Practice Real Estate. Now What?
February 16th 2017Maybe you're a dentist who has finally decided to go into private practice. In terms of where you want your practice to be located, you've settled on a city or town, but not the property. According to Brandy Keck, a Brockerage Liaison at Carr Healthcare Realty, now is the right time to get a practice real estate broker involved. Do not go it alone when faced with the stresses of negotiating a lease or purchase.