How we designed this unique structure in our Excel-based model

My vision was to create a strategic financial model in Microsoft Excel that could be adopted as a standard financial model for any dental practice. Below is an explanation of the unique structure used to create this Excel-based strategic model designed for dentistry.

There are three copies of the Excel model that I maintain and continue to update:

1. The Excel model that that I sell for a one-time license fee of $399.

2. The Practice Model. It's a great way to learn how to use both the model and Microsoft Excel. The practice model provides a functional example of a fictitious dental practice. It contains all the data you need to try out every feature of the software, including the generation of multiple simulated strategic plans, forecasts, and "what-if" scenarios.

This free Practice Model contains 24 months of both financial and production data and has a dental practice staff of 11 employees. The website does not require any contact information for this free download. If you choose the “open” option after clinking on the download link, the model will open in an Excel Browser format. If you save the browser or choose “save” after clicking on the download link, the file will be saved like any other Excel (.xls) file. The Excel browser format makes it very easy for a person who has never tried using Excel before to review or play with the model.

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.

3 - The Excel model formatted for the “2-month” - free trial offer.
All three files are exactly the same except for a few minor cell formatting changes. The free Excel files are a great way to improve your Excel skills.

There is no difference in these files than any other Microsoft Excel file you have saved on your computer. These Microsoft Excel file are 7.5 MB. (To put this in perspective TurboTax 2008 is 443 MB).

The Dental Practice Financial Calculator for the 2-month free trial offer, which will be e-mailed to you, can also be used to calculate an estimate of the fair market value of your dental practice. To use this free trial offer to calculate the FMV of your dental practice you only have to use one of the two monthly data input periods available for use to enter monthly data. - Only one period is required to fully run the model. Calculating an estimate for the FMV of your dental practice is achieved by entering your best estimate in the cells for both the Financial and Productivity data input software segments. There are 28 financial data fields and three productivity data fields for each dentist and hygienist.

Your estimate should be based upon the practice's current or anticipated level of business and expenses. You will also have to enter your Manpower practice data in the Excel template in the same way as you would when using the 2-month -free trial offer.

My Strategic Plan is to upgrade the web-site once per quarter, releasing one new free annual model upgrade to licensed clients. Some of the quarterly upgrades include new software segments that provide additional functionality. The model is designed to easily allow copying data from one Excel file to another. Free telephone support is offered to anyone. The goal is to continue to improve the model with every annual model release.

Offering the “2-month” -free trial offer Excel file with no time limit restrictions allows anyone to use this Excel model as “free software” to keep that will allow you by using only a few simple steps, calculate an estimate of the Fair-Market Value of your dental practice.

In addition to my free telephone support, I offer my consulting services for $100 per month. There is no contract or obligation. After this period, I will contact you to see if you want to continue the service for the next three months. My maintenance service enables dentists to derive immediate benefit from the strategic practice financial model. I do it all, satisfaction guaranteed. The primary benefit for dentists to use my service is that it enables them and their staff to focus more time on what they do best, dentistry. There is nothing to learn and no additional work for the dentist, the office staff, or their accountant.

I accumulate anonymous data from service clients to allow me to give benchmarking information so that my clients can see how their practice compares to other dental practices. All consulting services include a strict confidentiality agreement to carefully protect and preserve user privacy. In simple English, this agreement ensures that their information is not disclosed, shared, sold, or otherwise distributed to anyone whatsoever. I also guarantee that I will never ask to or use clients as a reference to sell my software and or services or reveal the name of any client.

When dentists subscribe to my service, they receive an updated copy of the Dental Practice Financial Calculator Microsoft Excel file e-mailed to them each month. I often add customized software segments that I feel the clients require to better understand the financial drivers of their practice. After I populate their practice financial model with the data, I’ll schedule a webcast meeting with them to review it. Some clients have several staff members join the webcast. One client even has staff members participating from several different locations. During this webcast meeting, I review the monthly financial results, express my opinions, and highlight financial issues that may require attention or further investigation. . The Dental Practice Financial Calculator addresses the strategic challenges that practice owners face and focuses on the financial aspects of practice management not tactical processes and workflows. Practice management software solutions normally do not address strategic challenges that practice owners face. Most PMS solutions merely automate or interface with bookkeeping software, set appointments, store images, and streamline other dentistry-related services.

My software and consulting service is different than what most CPAs or dental practice consultants provide. My consulting service aligns with and complements the software model, the Dental Practice Financial Calculator.
Most CPA’s that have dental clients perform the following functions:

• Payroll and all related transactions and filings - Transferring direct-deposit payroll twice a month into the correct bank accounts is the easy part.
• Cash Management - The scope of this tactical work is normally confined to reconciling S- Corp.-required bank accounts and accounts payable and all related transactions.
• All required tax requirements and filings – This is for both S-Corp. and personal federal/state tax reporting for practice owners.

Many dentists use one of many practice management software solutions and rely on administrative employees to handle other tactical work not handled by the CPA. The CPA normally is not actively involved in the everyday production reconciliation or the accounts receivables tactical workload.

Many dentists choose or inherit a local CPA. The CPA practice might not have many dental clients -- if any. And the professional services fees that competitive CPAs charge are often highly price- sensitive which results in a fair value for most dentists. However, those professional services fees allow little time for the CPA to get actively involved in the strategic challenges facing dental practice owners. And, of course, the CPA may not have much – or any - experience with the business side of a dental practice.

All consulting services include a strict confidentiality agreement to carefully protect and preserve your privacy. In simple English, this agreement ensures that your information is not disclosed, shared, sold, or otherwise distributed in anyway whatsoever. We also guarantee that we will never ask to or use you as a reference to sell our software and or services or reveal the name of any client.

To obtain more information call me at 919-975-5368.