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23 Cards in this Set
- Front
- Back
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What is the best entity to have as a business?
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S corporation
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What is a normal overhead?
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64% (60-70%)
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Employee Overhead is?
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25-30%
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What is your report card after graduation?
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Personal Financial Statement
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PNL stands for?
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Profit and Loss
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When should you fire an employee?
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At the beginning of the day
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Number one reason that dentists quit dentistry?
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Employee Problems
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What is a good asking salary if you are working as an associate?
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30-35% of production
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Who handles finance discussions?
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Designated employee, not the dentist
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What makes up a balance sheet?
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Assets and Liabilities
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What is the cost of an operatory?
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30 Thousand $
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Who is responsible for the payment of closing costs?
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Owner
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Where should you have your treatment plan discussion?
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Consultation Room
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What determines your taxes?
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Profit and Loss sheets
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What should you do first when building and remodeling?
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Meet with dental supply company first
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Who is the most important member of a building and remodeling transition?
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Architect
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What is important for attracting new employees?
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A well written ad in the local paper
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How much should you raise your fees every year to adjust for inflation?
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5%
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T/F
All employees must receive medical insurance if one receives insurance. |
True
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T/F
Full and Part-time employees are not required to receive the same benefits |
True
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T/F
It is illegal to dismiss a patient mid-treatment, for any reason |
True
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T/F
Don't hire anyone you cannot fire |
True
(Family Members) |
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T/F
You should institute a financial and productivity review with each employee annually |
True
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