Offering tailored financial solutions at every stage of a practice’s lifecycle, Aprio’s dental CPAs and advisors partner with dentists to create growing, healthy businesses
There’s a saying that Trent Watrous, CPA, CFE, CVA, has coined over his 15 years of guiding dental practice owners: “Teeth are being born every day, and they can’t go elsewhere.” It’s a clever reminder that while patient demand is ever-present, turning that steady stream into sustainable profits requires more than routine checkups. So, how do you create a more profitable practice? “If you don’t tell your dollars where to go, you’ll have to ask your dollars where they went,” Watrous said.
An Advisor—Not a Number Cruncher
At the heart of a healthy dental business is clarity. “Starting with clean numbers gives you the data you need to make good business decisions,” said Watrous, National Dental Practice Leader at Aprio, which offers practices specialized tax planning and wealth management solutions. “By setting accurate financial benchmarks early, you build a track record of consistent profitability, which is critical when it’s time for potential buyers to dive into due diligence.”
It’s a strategy that’s paid off for Charles V. Ankar, DDS, who has practiced at Shallowford Family Dental Group in Chattanooga, TN, for over 20 years.
“Aprio has been instrumental in helping us reach the level of success we’re experiencing,” Dr. Ankar shared. But that success didn’t happen overnight. Like many new practice owners, he initially kept the accountant used by the previous owner—a move that worked well for basic tax planning. However, Aprio brought much more to the table.
“In my first meeting with Trent, we talked about everything but taxes,” Dr. Ankar recalled. “We talked about the profession of dentistry and what my goals were, how I wanted to grow my practice and how to manage and recruit employees and build a culture. I walked away from it thinking, ‘Well, that didn’t feel like a meeting with an accountant.’ By the end of the meeting, he said, ‘By the way, we’ll do your taxes, too.’ It was refreshing because I felt like Aprio became a partner in my business and took on the role of an advisor as opposed to just a number cruncher.”
Power Your Economic Engine
A practice is only as strong as its team, and attracting top talent demands constant attention. “I think the No. 1 challenge for every practice owner is recruiting talented people into your organization,” Dr. Ankar said. “You can have a talented doctor, but if you don’t have the team around that doctor to implement the vision, then it’s not going to work.”
“A strong CPA firm will dive into the metrics as well as help retain the staff,” Watrous agreed. From healthcare benefits and 401(k) matching to paid vacation, creating a balanced compensation plan keeps overhead sustainable while attracting and maintaining top talent.
One of Dr. Ankar’s hygienists recently made a move to Nashville, and as a parting gift, found a talented hygienist to take her place. “It says a lot about your practice when your people go out and recruit new employees for you,” he concluded.
