How to be More Productive
How to be More Productive
You may, or may not, be aware that you are only liable to pay tax on income received for services or goods that have already been provided.
February 22, 2016

Using your practice software to the fullest will mean you will work more efficiently and make more money.

For most dental practices ‘time is money’ and being efficient increases the profitability of your dental practice. Most dental practice systems offer features that enable you to increase the efficiency and productivity of your practice if they are utilised to the fullest.

Below are some of the common features that dental practice management software systems have and the benefits of using them.

Scheduling
Scheduling systems help to ensure that your practice runs smoothly. Most scheduling systems enable you to easily see at a glance how you day is set out. Simple techniques like colour coding can also be used to easily identify the staff member that they relate to or the treatment type.

Treatment Planning
This enables all the information regarding your patient’s treatment history, notes and future treatment plans to be accurately recorded in one place. This makes it easily accessible by yourself and your staff when required and saves time rummaging in paper files.

The note taking facility also acts as an instant reminder and ensures that all the clients records are organised in one handy location.

Charting
The main benefit of electronic charting is that you can instantly pull up a patient’s chart to show them whilst they are sitting in the chair. This visual display makes it easier for patients to understand their treatment plan and can be used to show them the progress that has been made over time.

Electronic charts also act as a permanent record and are longer lasting than paper charts which can become damaged, fade or lost with time. There is also the ability to zoom in or out on electronic charts which provide greater detail for treatment planning.

Automated billing and appointment reminders
The process of billing and sending appointment reminders is an administration task which can take considerable time. By automating this, it streamlines the process and frees up more time for you to be working with patients.

Like you, your patients are also likely to be living busy lives. Therefore, a professional automated reminder of their next treatment date will make your patients lives easier too and ensure that their appointments are not missed.

Tracking your income and treatments provided
As well as improving efficiency, your practice software will can also assist your accountant with the preparation of your accounts and taxes and help to ensure that you are paying the right amount of tax at the right time.

You may, or may not, be aware that you are only liable to pay tax on income received for services or goods that have already been provided.

This won’t be an issue for a lot of business, such as a hairdresser, as you pay on the day for your haircut. However in the dentistry sector, patients can pay large amounts upfront for a course of treatment that may spread over a number of months. You, therefore, need to ensure that your software is tracking this correctly so that you pay tax on this income and the right time.

Providing that data is entered into your Practice Software correctly, you will be able to quickly generate a report that will provide your accountant with all the information necessary to ensure that you are not paying tax on income too early.

If you would like to talk to our Business Development team about organising your staff, getting the most from your dental business or how to run a successful practice call 01872 300232 or email us at hello@hivebusiness.co.uk.

The information contained in this article is based on the opinion of Hive Business and does not constitute formal tax advice. Any tax outcomes will be based on individual circumstances, tax legislation and regulation, which are subject to change in the future. You should seek specific advice before embarking on any course of action. Hive Business does not provide regulated Financial Advice, including advice on investment, insurance or lending products or their suitability for you. This article is provided for information only and does not constitute, and should not be interpreted as, investment advice or a recommendation to buy, sell or otherwise transact, or not transact, in any investment including Bitcoin and other crypto. Any use you wish to make of any information contained within this article is, therefore, entirely at your own risk.

By Team Hive
If you have any questions or comments about this article, please get in touch.
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