Ultimate Financial Control

This is our most popular service amongst Dental Principals around the UK, whereby we take care of all the monthly and annual accountancy requirements whilst helping practices run better businesses. This complete solution is for those practices that want experts in business and finance to help them run their dental practices at an optimum level.

Simply put, the UFC service is a complete financial management solution to help grow your practice performance over the long term. By setting clear financial and non-financial targets which are in line with your business objectives and then monitoring monthly progress to these targets is the foundation of the UFC service.

Is the UFC service for you?

Probably the best way to assess whether the UFC is right for you is to ask you a few simple questions:

• What were your practice gross fees and profit last month?
• Which of your Dental Associates is most profitable for your business?
• Which dental treatments provide you with the highest profit margin?
• How much did you spend on laboratory, material or associates last month? Is this reasonable or far too much?
• How many new customers did you get last month and where did they come from?

If you are unsure about any of the answers you are not alone.

The UFC service will provide the answers to such questions, which will help you run and build a more profitable and efficient dental business.

Monthly Benefits to You

As an example, each month the UFC service can provide:

1. Exact turnover and profitability of your practice
2. Hourly rates of your dental and hygienist team to determine which dentists are profitable for the business
3. Areas for cost improvement and service fee changes
4. Budget versus Actual Analysis
5. A focus for your monthly dentist performance meetings
6. A focus for your monthly team performance meetings in order to assess motivation
7. A clear target structure to reward team effort
8. Clear identification of how many and where the new customers are coming from to aid with the marketing strategy.
9. A real focus of whether the business actions and performance are in alignment with your objectives.

Annual Benefits to You

Annually, the benefits include:

• Year end accounts prepared straight after the year end
• Tax calculations prepared very early on in the year to aid with cash flow planning
• Full review of the business performance right after the year end
• Expert advice to help you run your business better

Each and every practice will have differing requirements for this service, but if you want to grow a successful and profitable practice with strong financial controls in place then Samera’s Ultimate Financial Control service is essential for you.

Summary of features

The table below summarises the key features of the 3 levels of service with the monthly VAT exclusive fees.

*The fees quoted above are for practices with a turnover up to £350,000 per annum. The prices may vary for practices with higher turnover figures. All fees are subject to VAT at 17.5%.

Some Key benefits of Ultimate Financial Control:

• 24/7 access to key management and financial information to help make timely decisions on practice performance
• Reduced financial administration headaches to allow for more time to be spent on clinical courses or in the surgery
• A simple and seamless process from basic records to annual accounts handled by a professional Chartered Accountancy firm dedicated to UK dentists.
• Access to an expert team who understand dentistry and its business issues
• The possibility of slashing your tax bill by having a systemised accounting process
• Risk of fraud at the practice minimised
• Complete off site electronic back up of all annual financial information
• The ability to compare practice performance against other dental practices.
• Review of budget and fees annually to ensure you are earning the income you desire plus...lots lots more!

Key Features include:

• Archived and current:
  • annual accounts
  • annual self assessment tax returns and computations
  • annual employers PAYE returns.
• Annual budgets
• Monthly management accounts including Profit and Loss accounts
• Monthly list of payors
• Monthly key performance indicators
• Bi-annual performance reviews by Samera
• Monthly payroll information
• Graphical monthly analyses of practice performance
• Complimentary downloadable practice management tools, designed by our team of accountants and dental professionals.

For further information on this practice transforming service please get in touch with Samera on 0207 100 8788.

Fees

For further information on our fees for this service please click here.