Dental Practice Benchmarking
Do you know how financially strong your dental practice really is? Make sure your practice is healthy and on track to meet financial targets with dental practice benchmarking from Ricks & Company, LLC. We use benchmarks to compare your practice with others and highlight areas where adjustments can be made to improve business performance.
Dental practice benchmarking offers a number of benefits. Benchmarking data helps analyze overhead to see if expenses should be reduced and examines personnel costs to figure out if you need to hire additional staff. For practices with multiple dentists, this data can be used to evaluate your compensation structure and discern if it’s fair and on par with regional standards and industry trends. Benchmarking will also assist in determining what your practice is worth for transitions like strategic mergers, acquisitions, or partnerships. Once our analysis is complete, we'll clearly outline recommendations for changes that will make your practice stronger.
To learn more about how benchmarking can open your eyes to opportunities for increased profitability and growth for your dental practice, contact us at 801-943-9191 or request a free initial consultation now.
Benchmarking services for dentists:
- Assessment of office operations
- Revenue enhancement and cost-control methods
- Strategic business planning
- Acquisition due diligence
- Assistance with mergers