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While daily responsibilities may sometimes obscure the fact, dental practice profitability is of critical importance to maintaining your practice’s value and long-term viability. To remain profitable, your dental practice must manage its overhead expenses wisely. Keeping costs down will not only keep you profitable, but may positively impact your retirement savings.
Keep these four expense categories in mind when thinking about overhead:
Keeping overhead costs down now may translate into higher retirement savings later and a higher dental practice valuation when you are ready to sell. Combined with increased income, wise cost management will ensure a profitable future.