Dental Service Line

Your Dental Practice is not only a significant part of your professional career, it’s also part of your investment portfolio. The demands placed upon you to ensure adequate care to patients and manage a strong practice seem to increase constantly. Deciding to add a retirement plan, increase life insurance coverage, refinance debt, or expand clinic operations seem to frustrate many dentists. We can help with our WSW dental practice line called The GateKeeper©.

The GateKeeper© allows our dental clients to do what they do best— dentistry.

From assisting in locating clinic financing, starting new clinics, analyzing cash flow, determining levels of proper insurance to working with your broker on designing the appropriate retirement plan, The GateKeeper allows the dentist to remain focused on dentistry.

Our aims as The GateKeeper© are three-fold: learn, earn and protect. WSW works to help you learn the skills necessary to be the CEO of your practice and the captain of your financial destiny. WSW will ensure you are not distracted with the financial issues that often arise in a practice which distract the dentist from the focus of earning a solid income. Lastly, WSW will protect the resources you have accumulated. WSW sees your dental practice as one of the many assets in your portfolio that must be managed to ensure your financial success. Keeping all aspects of that portfolio balanced is essential to financial stability and wealth management.

Let WSW help you learn, earn and protect your future.

Within our role as The GateKeeper©, WSW will seek solutions in the best interest of clients and their needs not the income from referral fees or brokerage fees. We do not sell investment products such as life insurance, disability insurance, or execute stock transactions. As The GateKeeper, we are your advocate and will work to educate and protect you financially.

Learn more about The GateKeeper© PDF, 96 KB
Whisenant, Stewart, Watrous & Associates, PLLC does not sell insurance or investment products.

1. Charting the Financial Course

When beginning new client relationships, WSW works to understand the entire financial perspective of clients and their dental practices. Leveraging the resources of both the individual and the practice helps in both minimizing risks and maximizing returns. WSW will conduct an initial financial analysis of clients and review the plan on an annual basis to measure the degree of success obtained.

2. Dental Practice Accounting and Tax Compliance

Accounting by nature is a historical function, thus only reporting what has occurred. But, to the practice administrator or dentist, accounting predicts the future and improves performance. We understand the complexities of dental practice accounting and requirements of tax compliance. From preparing tax projections to complex tax returns or completing the monthly bookkeeping, we provide clients superior service in a timely manner.

Our monthly accounting and bookkeeping involves reconciling bank statements, recording collections, adjusting debt balances, recording credit card transactions and completing required payroll tax returns. Also, during the monthly procedures, we continually analyze potential state and federal income tax exposure for you and your practice. We also provide the service of benchmarking our client’s financial results against pools of other

3. Practice Transitions

A successful dental practice transition is not an event; it’s a process. It entails many carefully planed small steps to ensure a successful outcome. Details such as buy-sell arrangements, entity structure, non-compete agreements or timing of marketing materials must all be addressed in the transition timeline. Working together with experienced legal counsel, clinical consultants, and financial institutions during the entire transition is critical to ensuring the expectations of all parties are met. Whether assisting the buyer or the seller, WSW ensures the

4. Career Cornerstones

Building the foundation for a long and successful career encompasses more than most dentists anticipate. Whether setting the course for key financial goals, examining potential associate contracts, or assisting in the purchase of a practice, WSW assists dentists in laying the cornerstones for a successful career in dentistry. Having worked with dentists who were given poor counsel during their early careers, WSW remains committed to objective analysis of the information provided by clients. Whether you’re still in dental school or in a current practice, WSW helps you place the cornerstone of your career success.

5. Dental Practice Consulting

Whether you consider yourself to be a dentist or the CEO of a company, when you lead a dental practice, you fill both roles. Our dental clients often feel their skills from dental school do not allow them to effectively fill the CEO role. WSW works with each dentist or clinic administrator to understand the processes within the clinic and how revenue is generated effectively. WSW works to educate the client as well as eliminate the areas of concern. Dental practice consulting must be a team effort between the dentist, the practice employees and WSW.