The Dental Practice Financial Calculator was designed with the understanding that dentists are trained in medical science, not business management. 

During challenging economic times, dental-practice owners need every advantage they can get. In addition to advice from their consultants, most dentists receive a four-page monthly financial statement from their accountants, a cover letter, and a trial-balance statement of their income and balance sheet accounts.  This statement normally reflects the current month and YTD results.  That's it!  This is the financial information most dentists use to make their routine and key practice decisions - and it's not enough for sound practice management.

All large corporations have an all-encompassing business model in Microsoft Excel that they use for strategic planning, operations analyses, and monthly reviews with top management.  The Dental Practice Financial Calculator provides this same style of all-encompassing strategic business planning model for dentistry.

The initial version of my software product evolved from the financial-management assistance I provided Dr. Joseph Pesicek shortly after he purchased his dental practice in 2004.  The software was developed over a two-year period through our careful collaboration, and draws on his experiences as a new practice owner.  Dr. Pesicek was less than 30 when he purchased his dental practice and paid a consulting company $20,000 to determine its fair market value.  Dr. Pesiceck earned his degree in 2002 from UNC-Chapel Hill.  He had no previous business experience, and had held only nominal summer employment.  Two years after graduating from dental school, he found himself running a business with 11 employees.

Major design considerations regarding the targeted customer base were:

• Computer skills
• Business-management exposure
• Prior supervisory experience
• General understanding of accounting and finance

My goal was to develop a dental practice strategic financial management tool that would be easy to use by professionals trained in medical science rather than business management. Most dental schools offer limited courses in finance and management in their dentistry curricula. I hope to persuade dental students to use my free, downloadable practice model to assist in their finance and management courses.