Two dentists seeking to start a new practice approached MWA after learning about our reputation for setting up custom accounting systems and processes for dental practices. The structure of the dental practice was very unique, and the clients needed an accounting firm that would take the extra time to build a solution tailored to their specific needs.
When we first met with the clients, they were incredibly confused about how an in-network provider and an out-of-network provider could blend their practices together. Operating out of the same facility, using the same staff, and working different days presented many challenges to both partners to ensure they both achieved maximum efficiency and profitability while working together.
The Right Solution
After two vastly different white-boarding sessions with both clients and their respective legal counsel, we succeeded in creating the perfect solution that allowed each partner to understand their individual practice contributions and profits, performance expectations and the overall partnership dynamic. Once we had developed the solution, we then trained both clients and their staff about the processes necessary to ensure all key performance indicators were being entered and tracked properly.
Above and Beyond Results
Not only did MWA build the ideal custom accounting system necessary for these clients to accurately track the right information for their unique practice, we also developed a strategy and structure that will enable both partners to either exit the practice or obtain maximum sale value in the future.