Elantax are Nasdal Specialist dental accountants and do benchmarking for our clients which can improve profitability and goodwill of a practice if you wish to sell or buy.
Our clients’ performance is benchmarked against other dentists within your region or nationally as we have access to a unique financial database for dentists. This provides a valuable insight as to how your practice fares against other practitioners.
For instance a recent benchmarking report 2023 states that there are “some clear distinctions between the NHS and private practices with everything from the viewpoint of the revenue per chair, including lab expenditures, material expenses, and labour costs. This report briefly discusses profitability but needs further examination because it is more subjective. For example, its more complex than claiming private sector is less profitable than the NHS or vice versa because differing factors need to be considered. The Associate payout ratio can fall as low as 35% or even 30% in some NHS and mixed practices if the UDA rate is more than £35 per UDA, whereas equivalent private sectors are paid out at c46% of gross on average. Undoubtedly, NHS practices can be run more profitably, but operationally, they can be more challenging due to recruitment and UDA rate challenges.” Dental elite - Benchmarking report 2023
Whether you own your own practice or are an associate or are creating your own portfolio, we can assist you along the way. Shakar Elahi is the principal partner and founder of Elantax and can help with this. Please contact us on 0207 403 1500 or email sema.ziler@elantax.com.
