5 Point Practice Check Up EXPENSE ENGINE - Dr. Zappia

ALREADY KNOW YOUR SCORE?

To complete scorecard, please read all four statements for each question.

Then chose the ONE statement that best reflects where you are now and choose the ONE statement that best reflects where you want to be.

Next to each statement there is a number range (low to high). Please choose the number that best reflects where you are now and the number that best reflects where you want to be.

5 Point Practice Check Up - SCE1- EXPENSE ENGINE - Dr. Zappia

Step 1 of 9

11%

Metric 1: Fixed Expenses

1
2
3
We don't focus on the key 5 fixed expenses of the practice or what range they are as we are dental professionals not profit driven.

4
5
6
Our fixed expenses are well above 46% and we don't know why as we are busy, nor how to fix them as they are not set in stone.

7
8
9
Our key 5 fixed expenses are between 38-46%. We are aware of what can be impacted and what needs more production to cover.

10
11
12
Our key fixed practice expenses are tracked and worked into budgets and goals, they are under 37% in total.
a. How would you rate yourself on a scale of 1-12?*
b. What is your ideal goal on a scale of 1-12?*
c. What are your insights and actions for Fixed Expenses?*

Metric 2: Wages / Benefits

1
2
3
We don't know our salary percentages & see no reason to know as we can't change them because certain team members have seniority.

4
5
6
Our wages and benefits are over 30% of production due to hygiene not producing 3x their salary and other under-performing staff members.

7
8
9
Wages and Benefits are healthy in the 26-28% range with defined roles, members are clear on salary increases and incentive programs based on growth.

10
11
12
Our team member salaries are less than 26% with full capacity of roles filled & there is an incentive program in place when growth happens.
a. How would you rate yourself on a scale of 1-12?*
b. What is your ideal goal on a scale of 1-12?*
c. What are your insights and actions for Wages / Benefits?*

Metric 3: Facility

1
2
3
Our facility is run down, old and fine for what we need now. Patients need to understand that we are a clinical dental office not a spa.

4
5
6
Our facility needs an update however we can't afford and the rent we pay now is over 6%. Don't see how updating office will give return.

7
8
9
Our facility is easy to access, welcoming, updated and appeals to all generations of the family. Our lease and rent is fair and under 5%.

10
11
12
We have a lease agreement that is long term and has no demolition clause with facility costs ranging between 4-6% of producton.
a. How would you rate yourself on a scale of 1-12?*
b. What is your ideal goal on a scale of 1-12?*
c. What are your insights and actions for Facility?*

Metric 4: Variable

1
2
3
We don't know what our variable expenses are and don't see the value in investing in marketing, consulting or technology.

4
5
6
We know what our lab costs are as part of variable expenses and hear from owner that our expenses are high but not sure which ones.

7
8
9
We are aware of the variable expenses of lab, office supplies, technology, consulting and marketing services and fall within the range of 22-25%.

10
11
12
We track and manage our variable expenses of lab, office supplies, repairs, technology, consulting and marketing and they are under 22%.
a. How would you rate yourself on a scale of 1-12?*
b. What is your ideal goal on a scale of 1-12?*
c. What are your insights and actions for Variable?*

Metric 5: Lab

1
2
3
Our lab bill is low and we are open to working overseas for cheapest option, we're okay with not doing major dentistry that needs lab bill.

4
5
6
We use the cheapest lab locally and our bill is not very much as we are a drill and fill practice with minimal acceptance of major treatment.

7
8
9
Our lab is in alignment with quality and fair costs due to our volume of major restorative. We have a healthy relationship with our lab.

10
11
12
Our lab costs are 8-10%, we deliver a balance of major dentistry and meet regularly with our lab owner and ceramist for collaboration.
a. How would you rate yourself on a scale of 1-12?*
b. What is your ideal goal on a scale of 1-12?*
c. What are your insights and actions for Lab?*

Metric 6: Supplies

1
2
3
We shop around looking for best deal on each product and don't use a budget or inventory system or work with a full service dealer.

4
5
6
We buy over 8% in dental supplies and don't know what to do about it with dealers help, inventory and budget guidelines.

7
8
9
We have a dedicated person who leads online ordering & an inventory system using a 6% budget & maximize the services fo a dealer.

10
11
12
We have a full service relationship with a value add dealer who cares and offers online ordering inventory and budget of less than 6%.
a. How would you rate yourself on a scale of 1-12?*
b. What is your ideal goal on a scale of 1-12?*
c. What are your insights and actions for Supplies?

Metric 7: Overhead of Production

1
2
3
Total overhead of fixed and variable expenses is unknown as there is no bookkeeper or financial analysis done on costs.

4
5
6
Total overhead is over 75% and don't know why or how to fix except to focus on dental supplies by shopping around and finding discounts.

7
8
9
Total overhead of practice production is between 61-65% with all needs and investment being affordable, planned and provides a return.

10
11
12
Total overhead is less than 60% to operate our dental practice while maintaining money to invest back into the business as needed.
a. How would you rate yourself on a scale of 1-12?*
b. What is your ideal goal on a scale of 1-12?*
c. What are your insights and actions for Overhead of Production?*

Metric 8: Cash Flow

1
2
3
No idea how much is needed to collect monthly to pay overhead and owner compensation. we are often in overdraft or late on payables.

4
5
6
We know what we collect is not enough and hear the owner speak of it regularly however not sure what to do to change or fix it.

7
8
9
We know the dollar amount we must COLLECT each month for overhead and owner compensation. We plan to make sure we achieve it.

10
11
12
We collect what is required to pay practice overhead and the owner is happy with their compensation and lifestyle with gratitude.
a. How would you rate yourself on a scale of 1-12?*
b. What is your ideal goal on a scale of 1-12?*
c. What are your insights and actions for Cash Flow?

Thank you for completing your scorecard! Your score is 0(0%)! Contact us here to go over your results and action plan!
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ALREADY KNOW YOUR SCORE?

5 Point Practice Check Up - SCE1- EXPENSE ENGINE - Dr. Zappia

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