Practice business advice
Advice concerning practice performance, structuring of dental associates, timing of associateship changes, performance measurement, health funds, marketing of practice services etc. For initial discussion on these subjects contact Graham Middleton – if unavailable contact Jenny O’Brien 03 9843 7777 to make an appointment for a face to face meeting or telephone conference – charges apply.
Saving money on life insurance
Many dentists have been sold inappropriate level premium policies which are unnecessarily expensive. In reality successful dentists gradually reduce their need for life insurance as their assets including superannuation increase and can therefore reduce the amount of cover they have. Cheaper life insurance cover will meet their needs. Speak to Cameron Darnley, the Synstrat partner who deals with life insurance to determine whether you can save money through a better deal.
Don’t practice in the dark – Practice performance benchmarking
Following the production of dental practice accounts by our team of accountants we benchmark our clients’ performance against the continually updating database of dental practice performance from an Australia wide clientele of dentists.
Does your accountant understand your dental practice?
Many dentists practice in isolation with no idea as to how their practice compares with other dentists. Many accountants have only one or two dental clients and give inappropriate guidance by comparing their performance with miscellaneous small businesses whose performance is irrelevant. If you’re in the dark speak to Graham Middleton 03 9843 7777. We will analyse your issues and guide you to a Synstrat accountant suitable to your needs. For appointments with Graham, speak to Jenny O’Brien 03 9843 7777. Charges apply.
Dental practice valuations
A valuation may be required because you’re considering buying or selling a practice or becoming an associate in a practice or selling an associateship part of a practice or need to provide comfort to a bank lender or to resolve a dispute between dental practice owners. Speak with Graham Middleton or David Collins 03 9843 7777 or if unavailable speak to Jenny O’Brien who will arrange an appointment for a telephone conference or face to face meeting.
Family Law Valuations
Unfortunately dentists are not immune from relationship breakdown. We have many years’ experience in providing joint valuations in accordance with Family Court requirements. Our valuations invariably stand up to scrutiny as being both thorough and objective and result in the value of the dental practice being agreed by the parties. You cannot afford to appoint a valuer who is not experienced in valuing dental practices or to allow your lawyer to appoint a valuer who is not experienced in valuing dental practices because invariably inexperienced valuations are subject to challenge by the other party. For further information speak with Graham Middleton or David Collins 03 9843 7777 or if unavailable speak to Jenny O’Brien who will arrange an appointment for a telephone conference or meeting with Graham or David.
Many financial planners belong to banks or other major organisations and have no idea how to integrate your dental practice performance, your dental practice premises and your tax planning into an overall financial plan. Much of their advice can be inappropriate and actually result in holding back the rate of dentists’ financial improvement. Synstrat is experienced in assisting dentists. Speak with Graham Middleton, Cameron Darnley or Roger Armitage. Appointments can be made via Jenny O’Brien 03 9843 7777.
The Synstrat Group
The Synstrat Group consists of two companies, Synstrat Accounting Pty Ltd and Synstrat Management Pty Ltd. The latter is the holder of Australian Financial Services Licence number 27169. Both companies have the same shareholders and directors and the distinctions are for licencing and regulatory purposes.
Dentists may obtain the following two booklets which can be obtained free:
50 Rules for success as a dentist and
Buying and Selling General & Specialist Dental Practices.
To obtain Synstrat Dental Stories, please make a donation the Delany Foundation as below.
This 335 page book is a must read for dentists. It details a series of good and bad practice experiences but names and some details have been changed to preserve identities. It contains valuable insights for practice owners and intending buyers as to what works best and what doesn’t. To obtain a copy of this publication, make a tax deductible donation of at least $30 to the Delany Foundation, a charity which brings hope and opportunity into the lives of young people deprived of education in Australia, Papua New Guinea, Kenya and Ghana. Once you have made your donation, please email confirmation of your donation along with your postal address to firstname.lastname@example.org and a copy will be sent to you. Donations can be made by mail to: Delany Foundation, PO Box 429, Casula Mall, NSW 2170, or via direct debit to the Delany Foundation Ancillary Trust, BSB 062 784 CBA account number 4050 5402. Should you have any difficulties, contact Matthew Mahoney on 0419 202 787 or 02 9600 8184.
For more information on these or many other topics affecting dentists, please visit our website and look through our Dentistry Publications. LINK: http://www.synstrat.com.au/dentistry_publications
Best wishes to all Dentists.