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How to Make Your Dental Bookkeeping More Effective

By Analytix Editorial Team

December 9, 2019 0 Comments
Effective Dental Bookkeeping

So you are running a dental practice and want it to grow. Let’s face it, you’ve already got your hands full managing your clinic, the staff, and your patients. But, like any business, dental clinics require strict bookkeeping practices in order to thrive financially.

To improve the accuracy and efficiency in bookkeeping, check out these tips and head in the right direction.

  • Automate Bookkeeping

Bookkeeping can be tedious and overwhelming for your dental practice. Choosing a modern cloud-based dental accounting software that uses popular tools like QuickBooks Online, Sage, and FreshBooks gives you more efficiency and flexibility to simplify and streamline your scheduling, charting, imaging, compliance, and billing. Choosing automated bookkeeping makes it easier to monitor your account receivables, get a real-time update on the financial health of your dental practice, and avoid costly mistakes to make better decisions.

  • Monitor Key Practice Metrics

When trying to grow your dental practice, monitoring key specific KPIs is critical to gauge your performance. Tracking these key performance indicators, in addition to your monthly P&L statements, helps determine the health of your practice. Using a dental practice management system like Insight360 helps you measure and track key performance indicators including, actionable insights, collections, and percentage of active patients, overheads, patient attrition, and others to stay on top of important business metrics.

  • Outsource Bookkeeping & Accounting

An effective option is to outsource your accounting functions to a team of experienced dental bookkeepers while you focus on growing your practice. This approach gives you access to automated bookkeeping systems, technology tools, and cloud-based solutions that expedite delivery time and ensures higher accuracy. This reduces your workload and improves your dental bookkeeping practice.

Your bookkeeping and accounting functions are the financial backbone of your practice. Make sure you are maximizing your potential by choosing to automate bookkeeping and get a competitive edge. Outsourcing to a reliable dental bookkeeping services company helps you and your team eliminate time-consuming administrative tasks and focus on your patients. Analytix Solutions is ISO 27001 compliant which means we are certified in following the proven, secure processes for managing sensitive financial data on behalf of our clients.

As dental practitioners, what are the hurdles you usually face related to handling bookkeeping and managing business? Our experts are eager to offer custom solutions.

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