Various financial concepts have previously been explored with respect to operating a dental practice – including benchmarking, reporting, transparency and the idea of ‘owning the numbers’ in your own practice. An analysis of practice revenue is timely – particularly given the recent ADA Dental Fees survey published in the News Bulletin (December 2015).
After finalising 2015 forward forecasts for dental clients and completing year end final accounts and tax returns, there appeared to be a marked trend in the industry with respect to turnover. A significant number of practices had experienced a downturn in the order of 6–8% for the 2015 financial year which is significant, as the following review will articulate.