This week’s episode of The Art of Dental Finance and Management podcast focuses on COVID-19 related relief programs dentists can take advantage of, as well as tips and key business metrics to operate a more profitable practice.
On October 28, the U.S. Department of Health & Human Services (HHS) released new updates to the HHS Provider Relief Fund FAQs that added removed and modified guidance. Art reviews these updates as well as provides additional helpful dental practice finance and management guidance, including:
- Updates on filing for Paycheck Protection Program (PPP) loan forgiveness
- Phase 3 funding for the HHS Provider Relief Fund
- How dentists should document relief fund expenses
- Preview of Democratic Presidential candidate Joe Biden’s income tax plan
- Financial tips and tax savings dependent upon who wins the presidential election
Art also discusses key business metrics related to helping dentists run a more efficient and profitable practice, including:
- A formula for calculating total production in a dental practice
- The importance of minimizing cancellations and no-shows
- Increasing production and meeting practice goals with your morning huddle
