DentalToday’s dental professionals have unique needs, and we understand the challenges of your business. Somerset’s Dental Team members are ready to put their industry experience and knowledge to work for you.
Somerset Dental Team
Your practice’s health is important to us. We will develop practical solutions to help you succeed. Our CPAs and consultants will help you set business and financial goals. We don’t stop there; we will work with you and your team to fully implement the solutions in a way that works for your practice.
How can we move your practice to a new level? Our professionals can perform an operations review and analyze your internal controls. We can assist you with strategic planning, succession planning, determining productivity goals and benchmarking your fees. We can help you calculate chair-time value for various procedures and perform a profitability analysis by procedure. Then, we will help you use this information to make the best decisions for your practice.
Of course, we assist you with tax planning and preparation. However, our comprehensive business and financial services go way beyond traditional CPA services. Our Dental Team consultants are passionate about helping their dental clients succeed.
- Strategic planning/business plan development
- Assist with fee schedule development
- Accounts receivable and collection analysis and management
- Accounting software selection, installation and training
- Operations and internal control reviews
- Employee benefit plan analysis and design
- Income distribution methodology design
- Merger, acquisition and succession planning
- Group practice governance design and succession planning
- HIPAA compliance
- Financial statement compilations
- Practice valuations
- Bookkeeping services
- Tax return preparation and planning
- Tax research
- Analysis of tax consequences for mergers, joint ventures, acquisitions and divestitures
- Tax controversy resolution
- Sales/use tax payment requirements and planning
- Property tax return preparation and analysis
- Payroll tax return preparation and planning
- Entity choice analysis
- Asset acquisition/lease analysis
- Accounting method determination
Average Operating Expenses for Professional Dental Practices
Our annual compilation of Average Operating Expenses for Professional Dental Practices for the year ended 2011 (compiled in 2012) has been published. The publication compares data for the years 2011 and 2010 from our clients throughout central Indiana. The information is presented according to practice type—General Dentistry, Endodontics, Oral and Maxillofacial Surgery, Orthodontics and Pediatric Dentistry.