Dental CFOs – if you're looking for ways to stop your DSO’s EBITDA from shrinking, then this post is for you. One of the biggest things I’ve noticed with dental accounting is how purchases are coded to the GL incorrectly. Oftentimes, capital expenditures (CapEx, which is considered an asset to the business) are coded as expenses (which lowers EBITDA). Properly coding them impacts the bottom line and the perception of the financial health of the DSO. Watch this video for some examples.
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DSO CFOs are tired of wasting resources to chase down invoices. Usually, there is an army of contractors on the payroll to manually enter A/P. The entire AP process in dental needs a shift. Here’s what CureMint does to remove the headaches: 1. Match: Invoices are automatically matched to purchase orders and receipts 2. Pay: Secure and pay vendors on time 3. Record: Transactions are recorded in the accounting system, providing a clear audit trail To see if it can help your DSO, visit: https://www.curemint.io/
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Dental AP teams are spending way too much time processing bills. From receiving the PDF in an email, manually entering and coding the data into the ERP, and then waiting for approvals from the practice. Magnify this with hundreds of invoices coming in per week and you have a costly and painful problem. But there is a way to move toward ‘no-touch bills’. What does that mean? Listen to how you can implement it in your dental organization.
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Dental procurement teams have been taught for decades to negotiate for the lowest price on a widget. Which isn’t wrong – but there is only so much you can squeeze a supplier. There are other things to negotiate that can be just as impactful on your business. It's all about the cash baby! Find out what I mean by listening to this short clip.
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Dental procurement looks to save the business money by decreasing the cost of the widgets they order, but this approach falls short (here's why:). The old way of doing it was to only negotiate the items you purchase to be as low as possible. But there is only so far you can squeeze. The new way is to look at other ways to impact the business supply chain through a holistic view. Watch this video to understand how procurement pros maximize impact for their DSO.
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Most DSOs are stuck with a 0% no-touch bill rate. Every invoice requires someone to manually open it, enter the coding, chase down approvals, and pray that it matches the purchase order. It's a tedious, error-prone process that drains the team's time and resources. It’s not like the teams are trying to run around – it’s the nature of getting hundreds of invoices daily. But imagine a different reality: 220 out of 250 invoices – automatically coded, matched, and sent to your accounting system without a single click. That's the power of 92% no-touch bills, a reality for one of my DSO clients using CureMint. They're no longer bogged down by manual tasks. Find out how CureMint can improve the AP process: https://www.curemint.io/
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Dental AP teams are not dental supply experts. Improper GL coding can paint a picture to your leadership team that this is not ACCURATE! I recently helped a CureMint client uncover this exact issue. She was now in control of their procurement coding, but historical processes were leading to financial discrepancies. Watch this video to see what we found out and how we set them up for future success.
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I recently helped a DSO client uncover a $70,000 budget overrun in one of their locations. It was a simple coding error, easily overlooked. Not their fault – it’s the complexity of dental accounting. Now imagine that same mistake happening across 250 locations. It's not just the big-ticket items that cause these problems. Small, recurring miscategorized expenses add up quickly, especially across a large DSO. $1,000 here. $5,000 error there. It all adds up: • EBITDA takes a hit • Financial reports are unreliable • Decisions are based on flawed assumptions But there is a way to avoid those costly mistakes. DSO leaders need a system that provides: 1 Automated GL coding to minimize human error and enforce consistency. 2 Clear and accurate financial reporting to support informed decision-making. 3 Real-time visibility into expenses across all locations, giving early detection of anomalies. Visit https://www.curemint.io/ to discover a system that safeguards your financials.
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DSO procurement teams often struggle to find the right suppliers and negotiate the best terms. It takes way too much time. It leads to wasteful spending. The dental industry needs a more strategic approach to sourcing. Here's where CureMint starts when working with a DSO: 1. Analyzing: Looking at current procurement practices and pinpointing areas for improvement. 2. Selecting: Collaborate with suppliers, compare proposals, and choose the best partners based on value, not just price. 3. Formalizing: Document partnerships with clear contracts and agreements. Ready to optimize your DSO's sourcing strategy? Visit https://www.curemint.io/ to learn more.
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