The Economics and Business of a Dental Office
When you work to increase sales of a certain treatment, service or product, it’s important to consider the marginal cost. Marginal cost is the amount of money, time, etc. it takes for you to produce one more of the service or product. This is separate from the fixed cost, which is the same whether you […]
Continue ReadingLast week we looked at accounts receivable. Now we’re going to take a look at accounts payable. Your accounts payable are all the money you owe your vendors. Accounts payable typically do not charge interest and are typically due within 90 days. Loans and mortgages are not included in accounts payable. The key point here […]
Continue ReadingA lot is changing these days, with updated guidance from the CDC, OHSA and ADA coming more frequently than typical. And things we spent money on yesterday may no longer be useful tomorrow. So it seems like an apt time to look at the sunk cost fallacy. First, let’s define what a sunk cost is. […]
Continue ReadingGood employees add value to your practice. Great employees can even make it shine. So, of course, you want to make sure those employees stick around. But that can be tough in a good job market. It can also be tough right now, since some employees may be concerned about contracting COVID-19 if they return […]
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