This is what I consider to be the quintessential financial planning outline for any independent dental practice in the UK that wants to stay on top of the numbers despite the external economic environment. What do these key areas mean to you in the practice? How do you measure and keep on top of them?
- Monthly management accounts
- Key performance indicators
- Comparison with previous months
- Comparison with industry averages
- Average daily production
- Personal cash flow forecast: Budget versus actual
- Professional cash flow forecast:
Budget versus actual -> staff bonus calculator
Pricing and hourly rate analysis -> ‘what if’ analysis
- KPIs 90 day rolling averages
- Average daily production: 90 day rolling average -> associate profitability analysis
Happy to answer any questions you might have about this.