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The Most Important Calculation For Your Practice
Episode 5222nd September 2022 • Beyond Bitewings • Edwards & Associates, PC
00:00:00 00:20:45

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BAM! It’s not just something the chef, Emeril Lagasse used to say, but it’s actually one of the most important numbers your dental practice should be tracking.

In today’s episode of Beyond Bitewings, Ash and Robert talk about BAM, also known as the ‘Basic Amount of Money’ needed to operate your practice on a monthly basis, and why this is such an important number in your practice. They also talk about why practice owners oftentimes overlook this number, and why focusing solely on other numbers like production and hygiene billing can be a costly mistake.

In addition, when looking at the practice as a whole, many practice owners believe that net income is the main line item they should focus on. However, when only focusing on net income, you’re potentially not considering other factors that could be affecting your bottom line. This is where BAM comes in as it’s not just about practice overhead, but it’s about looking at the doctor’s goals of take-home pay, retirement, a road map to implementing a bonus system, and other factors. 

They also get into how this can be calculated when there are big changes to the practice, like lease changes, or an increase in revenue. Plus they discuss why your staff will make this one of the top priorities in the numbers they’re watching and striving to hit.

If you have specific questions about BAM or other questions about your practice’s numbers. Or if you'd like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.

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