When do you need IFF?
You need a model that is easy to use so that you can analyze what happens to revenue, expenses, and profits when your business is exposed to expected or unexpected changes
You need tools that show you all pertinent information in a way that is both easily and quickly understood. From the analysis tools we provide, you should be able to evaluate the health of your business in less than an hour each month
Dentist.Business Vice President in Dental Practice Management Consulting, Dr.Paul J. Pavlik, the author of the bestseller - “Business Essentials for Healthcare Professionals”, has developed the methodology for dental practices based on analysis and forecasting - Intuitive Financial Forecasting - IFF
- Budget preparation
- Forecasting and written Analyses
- Ongoing guidance
- “What if” scenarios
- Business valuations, sales and transition services (exit & entrance strategies)
These services significantly enhance, but do not replace, information that is provided by your accountants and practice management software. We create individually tailored programs suited specifically to your needs and goals. We work closely with owners, their managers, staff, and advisers
Our “IFF” Will Answer
Are profits keeping pace with expenses?
Are there any signs of financial distress?
Are there any unusual assets or liabilities?
Will anticipated changes be financially positive or negative?
How much can you and should you invest into business development and patient acquisition?
What Should You Expect?
- IFF will compliment, not replace, financial systems you already have in place
- With information you provide from your accountant and practice management software, we will prepare annual budgets and monthly and annual forecasts
- Written reports and analyses of actual revenue, expenses, and profits will be created and delivered with comments and recommendations so that you can spend less time going over financial spreadsheets and more time managing your business and producing revenue
- We will provide What If scenarios to help in your decisions. You tell us what you are thinking of changing; we will supply you with all of the results you might incur from those changes. Some examples include:
- Should you buy into a new business?
- Should you buy, lease, or repair equipment?
- Can you increase staffing or give raises and/or benefits?
- Can you take home a bigger paycheck?
- Can you increase your profits?
- If you need a practice loan, we will provide forecasting documentation that may help you with the lender
- If you are planning an expansion, we will help you to define how much can you and should you invest into a business development and patient acquisition?
Our reports will allow you to view each month, all twelve months, all four quarters, annual totals, and comparisons to the budget and to last year’s results
Charts give you visual input, and they can show your team their progress
Visual cues will show you strong and weak points quickly without having to read every number in every row
Written analyses give a summary of your practice’s financial status without the need for you to interpret the spreadsheets if you prefer not to look at spreadsheets
What You Get?
Every month, you will have an updated financial analysis, real-time reforecasting, a practice continuous development plan and a roadmap based on your real-time numbers. This means, your practice continuous development plan and the roadmap will be applicable and feasible based on real performance from each month as it occurs
After receiving each month’s previous financials and key performance
indicators from your practice management software, we:
Recreate updated month-by-month practice forecasts for the remainder of the year
Prepare an updated analysis and continuous development roadmap to improve your financial and operational situation
Continue a business development plan using your real financial and operational capacity and business needs so that you can continue to meet or exceed your goals