Most Accurate Financial Benchmarks
Achieve top performance at every stage of your Dental Practice business life cycle
Start │ Buy │ Invest
Prevent buyer/successor remorse
Identify industry strongest/weakest drivers Access most accurate industry financial benchmarks & exclusive non-financial KPI data
Formalise a Top Performer Plan
Top 3 Concerns
What are you concerned about?
1. Principal Dentist Reliance
41% of practices had High or Very High reliance on principal dentists
2. Corporate Dental Companies & Health Fund Owned practices
43% felt threatened by competition from corporate dental or health fund operated dental practices
3. Private Health Insurance Arrangements
30% said there was a negative impact from these arrangements
Most Accurate Industry Benchmarks
Extensive financial/non-financial data: Dental Services
Earnings before interest & taxation (EBIT) as a percentage of gross fees after owner(s) salaries Industry Average: 14.8%
Fair market value business valuation multiples (sourced from a trusted & reliable business valuation tool) Industry Average: 3.4
Benchmark: 30.5%
Grow │Improve
55% - using patient booking systems & optimising
Dentist productivity
53% - existing opportunities to expand their Dental
Support team roles
Non-Financial KPI stats
Compare your practice to 53 KPIs, start with these…
46% - excellent understanding of advances in dental healthcare technologies
40% - attracting new clients well above plan/budget
23% - with a healthy culture of balancing work & non-work activities
20% - excellent knowledge/information on key patient groups
Value │ Succession │
Internal succession
Personal vs practice goodwill
Manage formal succession planning to grow wealth in & outside your practice
Attain value needed to achieve financial independence
Succession Planning
The number of FTE Dentists is a key profit-value driver
Internal
Succession
Contracting Dentists Attract with performance rewards Develop professional & clinical skills Retain with ownership pathways
Target
Succession Essentials
Only 40% of Principal Dentists are like minded with the same vision
Practice valuation & annual revaluation
Top Performer Plan & sounding board support
Reduce personal goodwill risks
Planned, structured exits
Case Study Personal Goodwill
Do you know who owns your patients?
Case Study Insights
“The business had no documented succession plan. Shareholder & staff agreements did not address key succession risks such as personal goodwill. The share sale was deferred.”
Remuneration,
responsibilities, budgets, targets, lifestyle…
Only 12% of practices have formal plans & policies setting out how the practice will be managed
Peak Performance Start now!
• Complete a Risk-Profit-Value Driver analysis on your practice
• Why do the analysis?
o Lower risks & access funding
o Discover profitable growth opportunities
o Identify key strengths & weaknesses
o Leverage the power of non-financial KPIs
• Receive your Scorecard, Top Performer Report & improvement planning action items
Improvement Planning & Accountability Support
Action items to fix high concerns & practice weaknesses
Why Ake Accounting?
Adding real value: specialist advice & support
Highly respected & trusted advisory practice
Industry thought leaders
Specialists in Dental Practice data mining
Most accurate industry financial & valuation benchmarks
Exclusive, scalable AUS/NZ non-financial KPI data
Helping clients become an industry Top Performer Support gap?
Has your accountant, banker, financial planner, finance broker, industry group offered you these data insights and support?
