Are you prepared to master the complexities of dental group finance and growth strategy? In this episode, we promise you'll uncover the secrets of organizing accounting and finance functions to maximize the value of your dental practice or DSO. With over 20 years of experience, our host Aaron shares his expert advice on structuring acquisitions, managing finances, and avoiding common pitfalls. Whether you manage a single practice or are expanding into a dental group, learn how to implement best practices for long-term planning and operational efficiency.

Discover the transformative power of optimizing your accounting and technology processes. Aaron discusses the advantages of a holding company structure for managing multiple business entities, emphasizing tax efficiency and transaction simplification. Learn about the best technologies and software, such as Xero, Sage, Approval Max, and Telluride, that can revolutionize your financial management. Understand the importance of standardized charts of accounts, centralized purchasing, and hierarchical approval mechanisms to enhance your practice's efficiency and accuracy.

Finally, gain insights on the necessity of regular financial and accounting health checks to maintain a robust financial framework. Aaron provides real-world examples illustrating the consequences of poor bookkeeping and offers essential tips for accurate financial management. Learn to adopt a systems-based mindset and leverage external expertise to make informed, data-driven decisions. Discover the critical need for clarity in financial numbers when scaling up operations, managing larger borrowing, and navigating increased risks, ensuring your dental group's financial health and future success.

Is your dental practice ready for sale? Many dentists find themselves unprepared for the complex process of selling their practice, especially in today’s volatile market. Aaron and Dan are here to guide you through every critical step. Starting with an analysis of current market trends, we unpack the growing preference for private squat practices amid high-interest rates and a slowdown in corporate acquisitions. Discover why it's crucial to adapt your business model now and how to navigate the economic uncertainties that might otherwise delay your plans.

Planning to sell your practice involves more than just a decision—it's a strategic, multi-year endeavor. With Aaron and Dan’s expertise, you'll learn why planning at least two years ahead is essential for maximizing your practice's value. We discuss whether to sell outright or retain elements like the freehold, and the implications of staying on post-sale. Plus, uncover the importance of accurate financial data, specialist advisory teams, and a strong network to attract serious buyers. Don't miss this episode loaded with valuable insights for any dentist contemplating the sale of their practice.

In this episode, Chris and the finance team talk about the Samera Dental Buying Group, what it is and how it can help dentists get exclusive deals on their products, consumables and services absolutely free!