This session will discuss the financial management of an oral and maxillofacial surgery office with specific attention to current financial trends. Hands-on guidance on reading and managing from a practice profit and loss statement and balance sheet will be provided. Learn to organize a P&L based on key expense categories for benchmarking and management purposes. Within these key cost categories, the impact of inflation, decreasing consumer confidence and increased wage pressures will be explored. The session also will cover practice capital management in a raising interest rate environment and transition trends, including the growth and challenges of DSO/private equity deals.
Learning Objectives:
At the conclusion of this presentation, participants should be able to:
Analyze their practice profit and loss statement and its relation to their practice balance sheet.
Determine how to organize their P&L in standard form to be easier to read and informative to management decisions.
Examine the financial and economic trends pressuring patient choice and practice profitability.
Discuss current trends in practice valuation and transition strategies as well as gain insight into how DSO/private equity deals are structured.