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Specialists in dental business
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Choose a specialistWhy choose us?

Or how to avoid that spanner in the works.

It has never been more important to have someone with experience and specialist dental knowledge on your side to navigate the complexities of dental business. NASDAL has launched a ‘Don’t throw a spanner in the works’ campaign to highlight what can go wrong when a dentist is advised by a non-specialist.

Names have been changed in the following two case studies.

Case study 1 - The Watersons

Principal dentist Nigel Waterson and his wife Janine, who carries out admin, have an NHS-only practice and were facing financial problems as a result of claw back. Their non-specialist accountant had failed to accrue the claw back into the accounts so that they were also facing a huge tax bill. On the strong advice of their bank manager, they moved their business to a specialist dental accountant. Since starting to work with their NASDAL advisors, their cash flow has greatly improved and they have paid back half their £50k bank loan.

Said Janine: “Things have changed for us hugely. I just feel we have someone on our side who understands. I like the fact that if I am stuck, and it doesn’t matter whether the problem is the LAT, the banking or how to fill in the Contract Allocation Form, you know there is someone at the end of the phone who will do their damndest to help you.”

“Nigel likes the fact that we are being supported by people who understand the frustration of being a dentist in the NHS. They understand the ins and outs of dentistry. If their firm can’t help us, they know someone who will.”

Case study 2 - The Hotblacks

Claire Hotblack is a practice manager and her husband Johnny is a dentist. They opened a private squat just a few years before the recession and then found their profits were badly hit when a corporate practice with an NHS contract opened nearby and they suffered from the effects of a flood in the town. They employed a succession of business coaches and when things were getting problematic, the coach they were using at the time encouraged them to move their business to his accountant. Like their own accountant, he was a non-specialist. By the time the couple realised the mistake they had made, they were on the verge of bankruptcy. Said Claire: “Johnny is a great dentist and I was working as a treatment co-ordinator and we were getting a 96% take-up on private treatment, but it was too late.”

Thanks to the advice of a friend, their NASDAL accountant came on board and although it was too late to save the practice, the firm helped them “every step of the way.” Claire said afterwards that everything changed when she and Johnny had someone they could speak to who would understand.

“I feel very passionately that dentists need specialist advisors because with someone on your side who knows what they are doing, then you are half way there.”

 

Employ a NASDAL advisor if you want someone who understands:

  • The business of dentistry
  • Profitability and value of your dental practice
  • How to buy and sell dental practices
  • Tax planning for dentists
  • Incorporation of dental practices
  • Partnership and expense sharing issues
  • NHS contracts, superannuation and the ARR
  • The CQC and how it operates