every single month and to make a plan of attack for improvement.<\/span><\/p>\nYou should be tracking relevant Key Performance Indicators (KPIs) every month to ensure your practice is healthy and so that you can make strategic business decisions. If you aren\u2019t sure which KPIs make sense for your practice, <\/span>you should consult with Business Operations Specialists who are familiar with dentistry.<\/strong> In addition to standard financial reports, they can provide you with supplemental reports to give you a full picture of the health of your business. This includes a detailed look at the different types of overhead.<\/span><\/p>\nUsing the data from the reports, make a plan to address 1-3 factors that will move the needle over the next 30 days. Perhaps that means renegotiating your lease, finding a new supplier, or adjusting your marketing budget. Once you have the plan to reduce your overhead in place, it\u2019s important to communicate it to the team so that everyone can do their part to ensure its success.\u00a0<\/span><\/p>\nBy committing to small, regular steps to adjust your EBITDA every single month, you\u2019re building a foundation for short and long term wealth.<\/span><\/h4>\n
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Your EBITDA is in Your Hands<\/span><\/h2>\nYou have the ability to determine the real value of your practice by choosing to engage in habits that will increase or decrease your EBITDA. In order to increase your EBITDA, you need to have systems in place to monitor your practice\u2019s performance and the ability to create a monthly plan of action to make ongoing progress towards your goals.<\/span><\/p>\nThat means the true worth of your practice is determined by what you put into it. If you want to get the greatest financial reward out of your practice, it starts with getting the data you need for a crystal clear picture of its health.\u00a0<\/span><\/p>\nWe can help you understand the current value of your practice and the steps you need to take to bring it to the next level with our <\/span>free Transition Readiness Report.<\/a> Apply now and our transition experts will help you take control of your financial future today.<\/span><\/p>\n<\/div>\n\n\n