Chris Bentson is scheduled to present “From A to Z: Today’s Orthodontic Environment, Trends and Metrics.”
Part 1: Whether you are transitioning directly from residency or have owned a practice for several years, a fundamental understanding of various key business metrics and their relationship to each other will accelerate your success as a practice owner. This fast-paced presentation will begin with a review of the current consumer market for orthodontics and how it effects your practice positioning.
The presentation will also include a description of the transition process, an illustration of the relationships between key financial and operational data needed to examine practice health, a general review of overhead targets and a discussion regarding some of the trends seen in today’s growing practices.
Part 2: Profit & loss statements are powerful financial reports; however, business overhead is often obscured with non-practice-related expenses. Receive training to translate your existing P&L into a useful financial management tool. A breakdown of one’s P&L using current industry standards will provide suggested spending targets. Gain an overall better understanding of your expenses and develop a system to monitor them against industry norms. Please bring your most recent YTD P&L statement.
Part 3: Dive deeper into measuring your practice’s metrics. For part three of this presentation, we have teamed up with Gaidge to allow you to gain a better understanding of your practice’s statistical data. Knowledge is power and using the statistics from your current practice management system will provide your practice a competitive edge in today’s orthodontic environment.
On behalf of the Cleveland Society of Orthodontists, I want to tell you how much we enjoyed your presentation on Business Succession Planning. Our members who attended spoke favorably about the information you presented and were glad they attended. Your lecture brought new insights and valuable information to our profession; I would imagine they will all put some of your ideas into practice.
-Lorraine Mollohan, Executive Director