In This Episode
When dentists look to improve their practices, the focus is often on attracting new patients, increasing revenue, or streamlining departments. Rarely do they consider one of the most critical yet overlooked roles in the office: the dental assistant.
In this episode of "The Art of Dental Finance and Management,” Art speaks with Matthew Nelson, a Practice Management Analyst at the California Dental Association. They engage in an insightful discussion about key performance indicators (KPIs) in the dental industry. Drawing on his extensive experience in supporting the growth of dental practices, Matthew outlines the critical metrics and KPIs that dental teams should consistently monitor. He emphasizes a common mistake made by dental professionals: attempting to track too many or too few metrics.
Art and Matthew also explore strategies for optimizing scheduling and improving case acceptance rates. They stress the importance of consistent team communication and standardized terminology to build patient trust and enhance treatment acceptance. The episode addresses methods for managing no-shows and cancellations, examines the negative impact of low collections on practice sustainability, and outlines best practices for improving revenue collection.
Finally, the episode concludes with a thorough analysis of overhead costs, including team compensation, supplies, laboratory fees, and marketing expenses, highlighting the necessity of regularly monitoring these expenditures.
Together, Matt and Art provide actionable recommendations to help dentists improve their production, collections, and overall profitability.
Show Notes & Resources
- Upcoming Eide Bailly Events
- Eide Bailly's Healthcare Services
- Decisions in Dentistry
- Academy of Dental CPAs
About the Host
Art Wiederman, CPA, Director of Dental Practices | Eide Bailly
Art specializes in serving dental practices. He oversees a variety of services including accounting, tax compliance and planning, financial planning, retirement planning, and financial practice management consulting. Art’s expertise is not only in taxation issues for dentists, but also in his knowledge of dental practice metrics and benchmarks. Art has the ability to look at a dentist’s statements and identify profit holes in their practice.
About the Guest
Matthew Nelson, Practice Management Analyst | California Dental Association
Matthew Nelson is a Practice Analyst for the California Dental Association, specializing in practice management, dental insurance plan analysis, and embezzlement prevention. He has lectured at CDA Presents and dental society meetings. In his current CDA Practice Support role, Matthew provides members with direct guidance and information. Since 2015, he has gained extensive experience in the dental field, including managing a large group practice and providing private consulting services.
Before entering the dental industry, he held multiple leadership positions within large corporations, where he honed his skills in leading diverse teams. Matthew is a graduate of California State University, Chico.
