Welcome to the Friday Five! Each week we’ll provide five quick tips about a different topic of interest. Interested in seeing a particular subject discussed? Send an email with your FAQ to [email protected]
This does not constitute advice and advice should be sought in all instances before acting on it.
Here at Dental and Medical Financial Services, we’re experts at helping you save tax, plan your retirement, and build your wealth.
Which is why we’re also committed to helping you save money by being more cost effective in your practice. Read on to review a few ways that might help you accomplish that goal.
- Be efficient with staffing:Review the busiest times for your business and decide the appropriate amount of staff required for those periods.
- Watch supply costs:Buy products at wholesale to combat high supply costs. Determine what exactly you would need in bulk as you can get some good deals on products that you’ll use over and over again.
- Review utilities: Double check with all of your utility providers to see if you can negotiate a better deal.
- Continually manage budget:Ensure you are taking all costs into consideration when setting reasonable budgets. Make certain your actual costs match up with your budgets and there aren’t any areas where you’re overspending.
- Work with an expert:Working with a specialist financial advisor who understands the healthcare industry and can help you make informed decisions quickly may seem like an additional cost, but in the long run could save you a lot of money.
We’d love to help your practice succeed, so if you need assistance lowering costs and saving money across the board, we’re here to help.
We like to review all aspects of your financial situation in conjunction with one another rather than on an individual basis.
We are experts in providing doctors and dentists professional financial advice, investment management, tax advice, and retirement and estate planning.