Like many businesses in many industries, dental practices are facing a number of challenges at the moment due to the legal and policy changes posed by the COVID-19 crisis. Social distancing and the closure of dentists’ offices to all but emergency care have left many oral health professionals with many questions about their professional and financial futures. While government aid is available, navigating the red tape can prove doubly challenging at this already busy time.
We’ve put together a few fiscal tools to help dentists and dental practices understand their current financial standing, calculate how long their money will last, and use those projections to best plan for the future. By understanding both your burn rate and your runway, you’ll be able to find the best path forward for you and your business. And if you need help, call us; OmniStar Financial is here to help our clients illuminate the blind spots.