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Why Dental Practices Should Outsource Their Bookkeeping

May 24, 2022 by OSYB Staff

The benefits of outsourced bookkeeping are numerous. 

From time savings to scaling, there’s no shortage of reasons to outsource your bookkeeping regardless of the industry you find yourself in. 

However, one industry that can benefit greatly from outsourced bookkeeping is the dental industry. 

Here are five reasons why outsourced bookkeeping for dentists is such an attractive solution. 

It Saves Time

When running a dental practice, it always seems like there’s never enough time to deal with all of the tasks on your plate.

Everything from the procedures themselves, to keeping up with appointments, to keeping the office and surrounding areas tidy takes time. If you’re spending a good portion of that time worrying about your books, things can get problematic quickly. 

Outsourced bookkeeping for dental practices ensures that you can spend your time and energy on improving your practice. You’ll also be able to make better decisions for your clinic knowing that your books are in good hands. 

Predictable Costs

We’re not saying that outsourced bookkeeping for dental practices will always save you money. It’s true that you always get what you pay for. If you choose a cheap outsourcing firm, you may end up paying even more in the end for mistakes.

However, some of the costs associated with an in-house bookkeeper can fly under the radar. Some of these include:

  • Payroll deductions
  • Vacation time 
  • EI 
  • CPP
  • Sick days

There’s far more that goes into paying an in-house bookkeeper than a simple salary.

On the other hand, outsourced bookkeeping for dentists ensures that your costs are always predictable. As long as you choose the right firm, there won’t be any hidden fees. You also won’t have to worry about sick days or vacation days—outsourced bookkeeping firms are there to handle your books every single day. 

Leverage Up to Date Software and Tech

The costs of bookkeeping software and proper training for employees can ramp up quickly when using an in-house bookkeeper. There’s also a time investment for hiring a brand new in-house bookkeeper and getting them up to speed with new bookkeeping software. 

Outsourced bookkeeping firms employ the latest in bookkeeping software and cloud technology that allows you complete visibility into your books and peace of mind that they’re being handled correctly. 

Also, with new tech and software always around the corner, outsourced bookkeeping firms stay on top of the latest trends and ensure that your books are being kept using the most efficient and effective software on the market. They stay on top of all of the trends. 

Avoid Hiring the Wrong Person

Hiring a bookkeeper can be one of the most daunting tasks for any industry. Even more so for dental practices that are always short on time. 

The wrong hire can lead to disastrous results. An inexperienced bookkeeper can make mistakes that can cause major setbacks. Before you know it, you’re back at square one and going through all of the trials and tribulations of hiring another bookkeeper. How long before you find the right one?

Outsourced bookkeeping for dentists gives you a team of experienced bookkeeping professionals whose job is to handle your books and nothing else. Instead of one person, you have a team reviewing every aspect of your bookkeeping to make sure mistakes aren’t made and that your books are handled the right way. 

Instead of a lengthy hiring process, choosing a firm is much easier. Look for a firm with great reviews and a long history of providing top-notch service. 

Scale Your Practice

For many businesses, one of their main goals is to grow their business and scale. 

As your dental practice grows and you begin to take on more patients, the load on your bookkeeper starts to increase. There are more invoices, more number crunching, and more work for your bookkeeper. At some point, it can become difficult to scale with an in-house bookkeeper. 

Outsourced bookkeeping for dentists gives you the opportunity to scale with a team that can mold to your specific needs. As you grow, your outsourced bookkeeping firm is equipped to handle the extra workload while ensuring that your books are kept up to date at all times.

OSYB Can Handle Your Dental Practice’s Books

OSYB’s Virtual Bookkeeping service is the ideal solution for dental practices that want to save time, scale effectively, and more. With our hosting service, you can monitor your books in real-time and ensure that experts are handling your books.To learn more about how OSYB can help your dental practice, schedule a free consultation today. We’ll get you on track.