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Related Experiment Videos

Is your dental practice a profitable business?

H J Stockton1

  • 1Department of Rehabilitative Dental Science, Faculty of Dentistry, University of Manitoba.

Journal (Canadian Dental Association)
|December 1, 1990
PubMed
Summary

This study introduces a method for dentists to assess dental practice profitability using percentage return on investment (% ROI). Understanding % ROI helps dentists evaluate their business

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Area of Science:

  • Dental Practice Management
  • Business Analytics in Dentistry

Background:

  • Many dental practitioners lack awareness of their practice's financial performance.
  • Assessing profitability is crucial for sustainable business operations in dentistry.

Purpose of the Study:

  • To present a method for evaluating dental practice profitability.
  • To introduce the calculation and interpretation of percentage return on investment (% ROI) for dental businesses.

Main Methods:

  • Analyzing and adjusting financial statements of dental practices.
  • Estimating the fair market value of practitioner's professional and managerial contributions.
  • Estimating the fair market value of dental practice assets.

Main Results:

  • A defined methodology for calculating % ROI in dental practices is established.
  • Guidance on interpreting the calculated % ROI for business decision-making is provided.

Conclusions:

  • The described method enables dentists to quantitatively assess their practice's profitability.
  • Understanding % ROI empowers dentists to make informed business and financial decisions.

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