Austin Moffat’s Post

🦷💼 I cannot emphasize enough the importance of building a cash forecast that projects monthly burn over the next 12-18 months. Good, viable dental practices & group practices can & will close their doors in this unique environment when it could've been avoidable. Know your cash balance & runway cold. #dentalgroup #dentalgrouppractice #groupdentistry #dentalindustry #groupdentistrynow #groupdental #dentistry #dentist #patientrecruitment #patientexperience #dental #dentalpractice #dentalpracticemanagement #mergersandacquisitions #dentalpracticesolutions #dentaltechnology #DSOs #dentalcare #healthcare #dso

🦷📈 With 2024 nearly half way through, please keep in mind that it's never too late to build a budget for your practice & track actuals vs. that budget each month. Mature DSO's & groups are doing this religiously & there's a good reason. #dentalgroup #dentalgrouppractice #groupdentistry #dentalindustry #groupdentistrynow #groupdental #dentistry #dentist #patientrecruitment #patientexperience #dental #dentalpractice #dentalpracticemanagement #mergersandacquisitions #dentalpracticesolutions #dentaltechnology #DSOs #dentalcare #healthcare #dso

🦷📈 With 2024 nearly half way through, please keep in mind that it's never too late to build a budget for your practice & track actuals vs. that budget each month. Mature DSO's & groups are doing this religiously & there's a good reason. #dentalgroup #dentalgrouppractice #groupdentistry #dentalindustry #groupdentistrynow #groupdental #dentistry #dentist #patientrecruitment #patientexperience #dental #dentalpractice #dentalpracticemanagement #mergersandacquisitions #dentalpracticesolutions #dentaltechnology #DSOs #dentalcare #healthcare #dso

🦷💰 The best DSO & practice owners I know all have one thing in common: They KNOW their financials. Month in & month out they're eager for us at @dsocfo to close out their books & walk them through the numbers & then they actually do something about what they've learned. #dentalgroup #dentalgrouppractice #groupdentistry #dentalindustry #groupdentistrynow #groupdental #dentistry #dentist #patientrecruitment #patientexperience #dental #dentalpractice #dentalpracticemanagement #mergersandacquisitions #dentalpracticesolutions #dentaltechnology #DSOs #dentalcare #healthcare #dso

🦷💰 The best DSO & practice owners I know all have one thing in common: They KNOW their financials. Month in & month out they're eager for us at @dsocfo to close out their books & walk them through the numbers & then they actually do something about what they've learned. #dentalgroup #dentalgrouppractice #groupdentistry #dentalindustry #groupdentistrynow #groupdental #dentistry #dentist #patientrecruitment #patientexperience #dental #dentalpractice #dentalpracticemanagement #mergersandacquisitions #dentalpracticesolutions #dentaltechnology #DSOs #dentalcare #healthcare #dso

🦷💰 Doing a monthly buduget vs actual analysis will help you diagnose issues, course correct, & reduce costs to your dental practice(s). Of course, you need practice budget in the first place to do this, as well as a mechanism to track & record actual performance. You will become more familiar with your numbers & performance by doing this exercise regularly. #dentalgroup #dentalgrouppractice #groupdentistry #dentalindustry #groupdentistrynow #groupdental #dentistry #dentist #patientrecruitment #patientexperience #dental #dentalpractice #dentalpracticemanagement #mergersandacquisitions #dentalpracticesolutions #dentaltechnology #DSOs #dentalcare #healthcare #dso

🦷💰 Here's a few cash flow mistakes I see some Dental Practice Owners make: 1. Ignoring Accounts Receivable - 𝘵𝘩𝘪𝘴 𝘪𝘴 𝘢 𝘣𝘪𝘨 𝘰𝘯𝘦 2. Poor Expense Management 3. Neglecting Cash Flow Forecasting 4. Overlooking Seasonal Fluctuations Take the above into consideration the next time your looking at your cash runway for your practice. #dentalgroup #dentalgrouppractice #groupdentistry #dentalindustry #groupdentistrynow #groupdental #dentistry #dentist #patientrecruitment #patientexperience #dental #dentalpractice #dentalpracticemanagement #mergersandacquisitions #dentalpracticesolutions #dentaltechnology #DSOs #dentalcare #healthcare #dso

These cash flow insights are spot on! Managing a dental practice involves more than just patient care; it requires a keen eye on the financial health of the business. Follow my friend Austin Moffat for more insights into your organizations cash flow.

🦷💰 Here's a few cash flow mistakes I see some Dental Practice Owners make: 1. Ignoring Accounts Receivable - 𝘵𝘩𝘪𝘴 𝘪𝘴 𝘢 𝘣𝘪𝘨 𝘰𝘯𝘦 2. Poor Expense Management 3. Neglecting Cash Flow Forecasting 4. Overlooking Seasonal Fluctuations Take the above into consideration the next time your looking at your cash runway for your practice. #dentalgroup #dentalgrouppractice #groupdentistry #dentalindustry #groupdentistrynow #groupdental #dentistry #dentist #patientrecruitment #patientexperience #dental #dentalpractice #dentalpracticemanagement #mergersandacquisitions #dentalpracticesolutions #dentaltechnology #DSOs #dentalcare #healthcare #dso

We helped Melissa Dent & her team refinance some loans that carried high interest rates that were impacting their cash flow, it's tough to run any business when tight on cash. This was a high priority for them so we immediately re-structured their financials in a way that spoke more clearly to the banks to tell their story & the current ongoings of their dental practices. We also got on the phone with the bank several times to walk them through their financials & explain what they were doing to show promising impacts on profitability & cash flow. Short story: They received the funding they needed to breathe a little better & to be able to focus on other aspects of their practices. More than a bookkeeper - your financial partner! #dentalgroup #dentalgrouppractice #groupdentistry #dentalindustry #groupdentistrynow #groupdental #dentistry #dentist #patientrecruitment #patientexperience #dental #dentalpractice #dentalpracticemanagement #mergersandacquisitions #dentalpracticesolutionsh #dentaltechnology #DSOs #dentalcare #healthcare #dso