Making Sense of Dental Practice Finance 1st Edition by Mervyn Bright, Sau Kee Li ISBN 1315345919 9781315345918
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Authors:Mervyn Bright,Sau-Kee Li , Series:Dentistry [137] , Author sort:Mervyn Bright,Sau-Kee Li , Ids:1857750659 , Published:Published:Apr 2017 , Publisher:RADCLIFFE MEDICAL PRESS , Comments:Comments:Dental surgeons are notoriously disorganized when it comes to finance, and in recent years there has been an escalation in the numbers finding themselves in difficulty with Inland Revenue investigations and, in extreme cases, facing insolvency, something which is new to the profession. Although the dental schools produce excellent clinicians, they do not see it as part of their function to train graduates for entry into the business world and, like it or not, a dental practice is a business, which has to compete in the harsh commercial world to achieve profitability. Before 1991 Dental Protection ran a series of one-day seminars at a number of dental schools under the title ‘And Now To Practice’, which were designed to give undergraduates in their last few months at university a taste of what was yet to come. The lecturers came from the legal profession, accountancy, insurance, the GDC and from the Board itself. Sadly, the combined effects of the recession and lack of enthusiasm by the students themselves, something that they no doubt will come to regret when they are actually faced with the reality of general practice, brought the courses to an end, leaving undergraduates with a dearth of knowledge on the business side of dentistry. It was whilst considering how we might fill the gap in literature on this topic that we received an approach from Radcliffe Medical Press to produce this work and we welcomed the invitation. We hope that not only will this book fill the gap for the GDP and the potential practitioner, but will also prove of benefit to some of our own colleagues who have little practical experience of dental accounting and the peculiarities of the profession.
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ISBN 10: 1315345919
ISBN 13: 9781315345918
Author: Mervyn Bright, Sau Kee Li
The training and culture of dental practice is based on clinical treatment and patient care. However in order to run their practices efficiently dentists and their staff must have business acumen and knowledge for which most are unprepared. This clear and authoritative guide presents the facts of practice finance explains how practice income can be maximised through its various sources and identifies the pitfalls and opportunities for further development. The ‘New Contract’ and reforms to the NHS system emphasize the need for the dental profession to respond effectively to the changed environment and this concise and comprehensive reference has been designed to meet this need.
Making Sense of Dental Practice Finance 1st Table of contents:
1 The Dental Profession
2 Vocational Trainees, Assistants and Associates
3 Setting up in Practice
4 Employing Staff
5 Stock Control
6 Equipment: Lease or Purchase?
7 Banking
8 Insurance
9 Book-keeping
10 Cash Flow Statements and Budgets
11 Computers in Dentistry
12 Sole Practitioners and Partnerships
13 Understanding Accounts
14 Personal Taxation
15 Business Taxation
16 Capital Allowance
17 Motor Cars
18 Capital Gains Tax
19 Inheritance Tax
20 Dental Health Schemes
21 National Insurance Contributions
22 Superannuation and Pensions
23 Value-Added Tax (VAT)
24 Laboratories
25 The Accountant, the Solicitor and Collecting Debts
26 Inland Revenue Investigations
27 Insolvency
28 Statistical Data
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