North Texas Dentistry Special Issue 2016 | Page 19

which help the practices run efficiently
and profitably, and at the same time
let her do what she likes doing
best – dentistry.
What is the most common mistake
dentists make in their personal and
professional finances?

Mitul Mehta

CPA, PC

[phone]
www.cpa-mehta.com

What expertise and services do you
offer that are particularly beneficial
for a dentist?

I am a Certified Public Accountant and
financial analyst with an MBA in finance
from SMU Cox School of Business.
I have over 15 years of experience in the
corporate world, helping multibillion dollar enterprises develop and implement
solutions to grow and succeed. I saw that
big businesses took advantage of their
resources. Their analysts performed
analyses and gathered data that enabled
them to find ways to streamline their
business to run efficiently. Small- and
medium-sized businesses like dental
practices can benefit from those same
practices and tools. I started my firm to
do exactly that.

My team can help new and experienced
dentists with basic business functions like
bookkeeping and accounting, as well as
providing more involved support like
managing accounts receivable, patient
collections, paying vendors, insurance
collections, choosing financing plans for
patients and anything related to the
financial wellbeing of the practice.

My wife is a dentist and has owned three
practices here in the DFW area. I helped
set up her business and put in systems

individualized financial plan. We offer essential services from basic bookkeeping
to complete back office management and
Virtual CFO services, depending on your
needs. For a complete list of our services
please visit www.cpa-mehta.com.

Dentists often make poor decisions that
affect their personal lives – primarily
working too much and not planning
enough. Among the most common
problems are:

n No clear strategy of retirement

n Overspending, accumulating too
much debt and not saving enough

n Not having both a personal budget
and a practice budget
n Having no system in place to track
the money trail from the time the
patient enters the office to
depositing money in the bank
n Not having measurable goals

n Not having a “selling” strategy
n Not treating their practice as
a “business”

n Not having a practice snapshot
n Not having an exit strategy

These problems all are correctable.
Partner with an advisor who can identify
areas for improvement and help you get
on the right track.
When I first started providing financial

services to dental professionals, I routinely encountered dentists who were
collecting a lot of “money” every week
and thought their practices were running
very profitably and efficiently. On close
examination – what I call a “practice xray” – we found that they were running
at a much lower profit percentage than
what we could achieve based on their
existing systems.

After a thorough analysis, my team
develops a plan specifically tailored for
each new client that helps them to start
implementing efficient systems. Just
as every patient’s dental problem is
unique and their treatment plan is unique,
each of our clients is provided with an

P R O F I L E

www.northtexasdentistry.com

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NORTH TEXAS DENTISTRY

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