A dental CPA can help you design an effective program to increase your revenues and decrease expenses for your office. These professionals can help you in many ways and help you maximize your profits while reducing costs and ensuring that your patients receive the best care possible. If you’re ready to hire a CPA to manage your office, it’s important that you understand what their role is and how they fit into your office’s goals. Dental CPA employment opportunities vary depending on your specific needs and your desires.
A CPA can provide the necessary tools for successful business management and financial management, which make business ownership far less stressful and more profitable. Dental CPA employment opportunities include bookkeeping, payroll, marketing, insurance, collections, patient management, and much more. Here are three essential steps you should take when hiring a dental CPA for your dental practice:
Step One: Before you hire a CPA, you should determine your exact needs. Identify the tasks that you want to be addressed by your CPA and identify the type of bookkeeping and financial management services that are required for the office. Estimate your annual operating budget and consider the services that you want your CPA to perform before hiring them.
Step Two: After you’ve determined your needs, you should research dentists who meet your qualifications and experience criteria. Visit their websites to learn about their qualifications. If you’re still unsure about hiring a CPA, contact a trusted practice and ask them for recommendations. You can also do an online search for dentists in your area that offer CPA training and CPA jobs. Visit each practice and speak to a representative about what you hope to gain from hiring a CPA, and then choose the one that you feel is best qualified to help you achieve your goals.
Step Three: Once you have identified at least a half-dozen potential dentists with whom you can negotiate, you should schedule a face-to-face meeting with them. Your first task should be to determine if you can develop an “amicus” or working relationship with them. A good way to do this is to ask questions about their background, experience and areas of expertise. When you ask questions, be sure to let them know how many CPA patients they have served during their careers. If they seem hesitant to share this information, it may be best to proceed with your thinking about hiring another CPA. The more dentists you know ahead of time, the easier it will be to keep them on track with your CPA billing tasks throughout the year.
As your business grows and you hire new CPA’s, maintain close communication with your existing dental practices. Ask them what changes have occurred in their bookkeeping and accounting procedures in the last six months to a year. Find out what types of financial incentives they offer to retain their CPA’s. This information could potentially save you money in the future by preventing overpayments on accounts receivable and by reducing the amount of debt owed on accounts payable. If your existing dental practices are offering financial incentives, ask them what those incentives are and how they are applied to the various aspects of their business.