Dental Practices Adapt Post-Covid-19
The pandemic has had a tremendous impact on businesses across every industry. Dental practices continue to face challenges brought on by the pandemic, and practice owners have been forced to adjust how they do business.
Dentists have had to implement new procedures to ensure the health and safety of employees and clients – procedures that have complicated their business processes and proved to be logistically challenging at times.
Some challenges have had a direct impact on revenue as many dental practices have had to turn away clients and limit procedures to emergency visits only. Other face decreased client visits and many have had to acquire the appropriate equipment needed to continue operations including personal protective equipment like N95 respirators, eye wear, protective clothing, gloves, protective coverings to eliminate contamination to other equipment by aerosols, and enhanced disinfection protocols.
Some Vermont practices have turned to tele-dentistry to innovatively face pandemic challenges. Dentists can meet with clients via phone or video chat for consultation which has allowed them to fill the gap that’s resulted from decreased revenue.
Although many have found ways to adapt the challenges are ongoing.
In these difficult times you need the peace of mind that comes with a clear, strategic plan for your future and the future of your dentistry practice.
- Cash flow or expense management
- Future financial needs being met in retirement
- Up to date records to make informed decisions
- Business transition plan
- Unexpected surprises at tax time
If any of the above concerns are standing in between you and a good night’s sleep, you need a business partner to take care of the details and lighten your workload so you can focus on what really matters!
Davis & Hodgdon offers proactive tax planning to ensure all potential tax credits and deductions are identified.
Our affiliated financial planning firm, Copper Leaf Financial, can help create a personalized financial and retirement plan that integrates every aspect of your life. This allows you to focus on what matters.
Davis & Hodgdon Exit Planning services can help you identify the best type of transition for you. We help you put a plan in place that incorporates wise tax strategies and value acceleration.
Our expert RAD client accounting services will handle your accounting and bookkeeping tasks for better, more streamlined, financial management which can result in improved cash flow management, accurate record-keeping, and meaningful data reporting.
You deserve peace of mind. Contact us today for a complimentary consultation and find out how we can help you and your practice.
As your business partner we can help you thrive in the new normal!