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MONEY MANAGEMENT

Through our systems and guidance, you'll gain a clear understanding of your practice's health in real-time. We prioritize security by meticulously balancing your financial books, practice software, and bank transactions. With accurate information at your fingertips, uncertainties about employee compensation, personal finances, or staffing decisions will disappear. Our systems provide knowledge and assurance, safeguarding the backend of your business. Additionally, you'll develop tailored business acumen, whether aiming for financial success or more personal time. Ultimately, we offer a roadmap to your desired happiness.

  • Dental Specific Chart of Accounts

Your chart of accounts is crucial for your business, providing clarity and structure for operations. Without it, you can't accurately measure efficiency or track finances in real-time. A tailored "dental" chart of accounts meets specific practice needs and allows for detailed business analysis whenever needed.​

  • Clean Bookkeeping

Good bookkeeping requires more than just automation. While a well-organized chart of accounts is important, it's not everything. Accuracy matters when categorizing expenses. For example, assigning a $10,000 bill from Henry Schein entirely to lab costs when it should be divided differently—like $3,000 to supplies, $5,000 to equipment, and $2,000 to labs—can mess up financial insights. Wrong classifications can add up and change the story, leading to mistakes in financial decisions.

  • Managing Payroll

Keeping payroll information confidential, especially when handled internally, can be difficult. Addressing this concern is one of the services we offer, providing you with a seamless solution to alleviate this responsibility.

  • DMT (Daily Management Tracker)

While the DMT shares similarities with other tracking tools, its unique features offer unmatched levels of detail and information. One key advantage is the ability to manually input data under your control, rather than relying solely on automated processes that may lead to inaccuracies. This ensures that the information is accurate from the start, avoiding flawed results. This capability empowers you by giving you full control. With just a minute of daily input from you or your team, this report becomes a powerful tool, providing projections, snapshots, detailed breakdowns of write-offs, production/collection goals, comprehensive new patient details, downtime, last-minute cancellations, and more.

  • Practice Analysis

We regularly review crucial elements such as accounts receivable, provider production, adjustments, daily deposits, and more. Additionally, we ensure that team members have appropriate access and adhere to proper procedures for tasks such as handling insurance and processing payments. Our goal is to detect and address any potential issues that could lead to errors or complications.

  • MIS (Management Income Statement)

This report presents your business data in a simple and clear manner, allowing for confident decision-making without hesitation. It replaces intuition with concrete facts, eliminating the need to rely on intuition.

  • Triangle Check

The Triangle Check is our take on the Bermuda Triangle of information—an essential alignment between your dental software, financial records, and bank. This thorough process protects your business from risks such as embezzlement, audits, or disruptions, ensuring resilience against unexpected challenges.

  • Tax Preparation/Readiness

We simplify the process of transferring your accounting books to your CPA, minimizing the need for extensive questions from their end. Furthermore, we aid in gathering any supplementary information necessary for a smooth tax filing process.

  • Bill Pay/ Accounts Payable

This serves as a significant bottleneck in our coding and balancing procedures. While we prioritize meeting financial obligations and paying bills promptly, ensuring accuracy demands meticulous effort. This includes verifying for over or undercharges, addressing unapplied payments, and confirming check clearances. As a result, the task of paying vendors can become quite time-consuming.

  • Check Register

We highly recommend that our clients regularly print their transaction records. This provides an accurate reflection of their account balance, going beyond what is displayed in their bank statement. For instance, if the bank balance shows $20,000, but there's a pending $10,000 payroll and $2,000 in checks awaiting clearance, the transaction record will reveal the true available balance of $8,000.

  • Dental Software Assessment/Forensics

If you have any questions or concerns regarding the performance of your practice software, we're here to help you delve deeper into the matter.

  • Fee Analysis

Efficiency is crucial, and we're dedicated to improving your overheads and expenses. We recommend evaluating your current fees compared to regional benchmarks and your professional value. By strategically adjusting fees rather than implementing a blanket increase, you could potentially boost revenue by $10,000 to $300,000. Surprisingly, this can often be achieved without losing any patients!

PRACTICE DEVELOPMENT

Boost your confidence in working with your team by allowing us to provide support. Unlike machines, people can't be enhanced with a specific unit of measurement. Sometimes, it's about comprehending individuals, offering assistance and fostering an environment where they collaborate in harmony with it, not just for it.

  • Hiring Support

Simplify the hiring process and relieve your team's workload. Allow us to help you find the right candidate and build the perfect team for your needs.

  • Strength Finders Guidance

Although we typically rely on resumes to assess experience and knowledge, determining if someone is the right fit for your business can be difficult. Strengths Finders is a tool that goes beyond traditional assessments, uncovering an individual's strengths, values, and how best to support their needs. Hiring is already complex, but this tool provides deeper insights into individuals.

  • Team System Evaluation

Do you know exactly who is responsible for each task? Let's take control of your systems and differentiate between areas needing improvement and those that are already functioning well.

  • Leadership Enhancement

At JGMM, we recognize that there's no one-size-fits-all formula for effective leadership. We understand that leadership styles vary, and our objective is to assist you in evolving into the type of leader that best fits your business.

  • Marketing Insights

While we may not consider ourselves marketing experts, we're enthusiastic about sharing industry trends, developments, and successful strategies with our fellow doctors! We're happy to pass along the knowledge we've acquired.

  • Employee Compensation Plans

Employee compensation plans provide team members with a comprehensive understanding of the actual cost of their salary to the business. While these packages may not suit everyone, fostering a shared understanding of your business goals and the process for pay increases instills a sense of responsibility and ownership in every team member.

  • Fire Control

Have you experienced the challenge of an employee resigning via text on a Sunday night, leaving you without a plan for Monday? If you need assistance or guidance on the next steps, let JGMM be the team to support you through this situation!

 

  • Job Descriptions & Policies 

Clarity is crucial, and documenting everything makes a significant difference. If you want your team to fully comprehend their responsibilities and be accountable, let's work together! Developing written policies and outlining job duties not only ensures mutual understanding but also provides a reliable reference when things become complicated.

ADDITIONAL SERVICES

  • Coaching Assistance

We provide 60–90-minute Zoom conference calls to offer guidance and support on any of the topics mentioned above.

  • Advisory Partnerships & Real Estate Transactions

  • Associate Contract Assistance

We offer advice and guidance on associate contracts, providing insights beyond those typically offered by lawyers or dental-focused attorneys. Don't hesitate to contact us for more information.

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