Willeford Group 12/31/11 Dental Production Index

DENTAL PRODUCTION INDEX 2007, 2009, 2010, 2011

The Most Reliable Dental Index in the Profession!

Why is this important to me?  What do I do with this information?  These statistics show you what your Doctor Production level could have been—the difference between that and your actual number tells you how much higher your Cash Flow could have been if your practice was running at optimum efficiency.  

   December’s Production Per Doctor was $73,000

   On average, Doctors worked 14 days in December or produced about $5,200 per day 

   What was your production?  If your office produced only $4,200 per day & worked 14 days then:

  • Ø You could have produced $1,000 more per day
  • Ø Meaning an additional $14,000 could have been produced in December
  • Ø An average of $12,500 Net Profit could have gone into your pocket!
  • Ø If this happens every month, then an additional $150,000 per year could go into your pocket!

 

Do you have room for improvement?  If so, call us—we can help you put more cash in your pocket, which helps you achieve the income you need to support your Quality of Life!

 

Our Dental Production Index tracks practice trends Per Doctor for same set of practices over four years so the results are comparable. (These are all stable, predominantly fee-for-service, general practices open 5 years or more.)

 

Rick Willeford  RickW@TheWillefordGroup.com       
Kate Willeford  KateW@TheWillefordGroup.com

 

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Sales & Use Tax Return Reminder!

Remember to file your Sales & Use Tax Return.  As we shared in our letter, it is due Jan. 20 if you want to take advantage of the “Vendor’s Compensation” (a 3% reduction in whatever tax you owe…this is supposed to cover administrative costs you may have incurred for having to fill out the return).  If you don’t owe any tax, then the deadline is Jan. 31.

Any questions?  Just give us a call at 770-552-8500

Your Advisors at the Willeford Group

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Great WSJ article: “If Your Teeth Could Talk”

In case you missed it, here is the link to a great article in WSJ on 12/27/11 re the systemic link between teeth and your overall health. It is a great piece for you and/or your hygienist to discuss with your patients. That is better than having a discussion with their attorney later…..!

http://online.wsj.com/article/health_journal.html

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Willeford Group Nov. Enhanced Dental Production Index

DENTAL PRODUCTION INDEX 2007, 2009, 2010, 2011

How does your practice compare?    Our Dental Production Index tracks practice trends Per Doctor for the   same set of practices over three years so the results are comparable. (These   are all stable, predominantly fee-for-service practices with more than 5   years in practice.) Now you’ll have the most reliable dental index in the   profession!

A few comments:    Note that we have added data for 2007. Also, we have added an   additional chart to show the Year-To-Date Cumulative average charges. 2011   production for November is greater than the other three years! The cumulative   figure has pulled ahead of 2009 and 2010.

So, what if   your numbers fall outside these averages? How does this info affect you and   your income – and quality of life? The up or down trend is more important   than the actual dollars. If you are following the same trends, then that may   give you some comfort. Continue to do what seems to be working. If not,   consider what may need fixing—and perhaps give us a call for some ideas.

Rickw@TheWillefordGroup.com    KateW@TheWillefordGroup.com

 

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New 2012 Retirement Plan Limits

Here are the new limits as adjusted by the IRS for inflation:

 

Retirement
Plan Limits

2007-2012

 

Limitation Type

2012

2011 – 2009

2008

2007

 Maximum Annual Compensation

 $250,000

$245,000

 $230,000 $225,000
Elective Deferral Limit

17,000

16,500

15,500

15,500

SIMPLE Elective Deferral Limit

11,500

11,500

10,500

10,500

HCE Compensation Threshold

115,000

110,000

105,000

100,000

Catch-up Contribution

5,500

5,500

5,000

5,000

SIMPLE Catch-up Contribution

2,500

2,500

2,500

2,500

DB Benefit Limit

200,000

195,000

185,000

180,000

DC Annual Contribution Limit

50,000

49,000

46,000

45,0 00

 Key Employee (Officer) Threshold

165,000

160,000

150,000

145,000

IRA Contribution Limit

5,000

5,000

5,000

4,000

IRA Catch-Up Contributions

1,000

1,000

1,000

1,000

 Social Security Taxable Wage Base

110,100

106,800

102,000

97,500

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Willeford August, 2011 Dental Production Index

Here is our proprietary DPI for August, 2011. Rather than being a “survey” (which is at the mercy of whoever replies each month), this DPI tracks the SAME 40 practices for the past 3+ years. So we are comparing apples with apples each month. They are fairly stable practices, so that the state of the economy and the calendar are the biggest factors.
One point re August is that there were 5 Mondays, while July had the 4th holiday to contend with.
Also note that these are primarily FFS practices in the Atlanta area. Your mileage may vary….
The Production on the left axis is in thousands and is Per Full Time Equivalent dentist.

11-08 DPI Graph

Willeford August, 2011 DPI Graph

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Beware Of Subleases With Specialists!

Dr. Charles Blair has been following a case in Texas where the Feds have charged an Oral Surgeon and 4 Peds with violating the Stark law re Kickbacks just based on their rental agreement! The Peds charged the Surgeon 15% of collections as “rent” to come into their offices. If you participate in Medicare, Medicaid or any other government program, you can only charge a fixed, fair market rental value. Another work around is for the Host doctor to charge the patient directly, and then pay the Oral Surgeon (or other specialist) a percentage, as an associate. (Of course that opens the door to employent law issues.)

It looks like the Feds are really focusing on other major issues with the Surgeon, and the 4 Peds are being dismissed from the case. They really dodged a bullet!! So, you may want to review any “rent” agreements between professionals ASAP!

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