(908) 358-0500 Schedule A Consult

New Jersey’s Dental Practice Consultants

We help new and established dental practices achieve sustainability and growth.

As a dentist, you understand the value of specialists in helping your patients optimize their oral health. If you’re thinking of starting a dental practice, your first step should be to build a support team of dental industry specialists that can help you make crucial decisions that will optimize the health of your practice. If you own an established practice, you understand the value of investing in yourself by hiring support professionals with substantial dental industry experience and a history of success in helping dentists reach their goals.

A Certified Public Accountant who works with dentists every day is an essential component of a successful dental practice. LLI Advisory Group specializes in supporting dentists in reaching their financial goals throughout the practice lifecycle, beginning with dental practice startup and navigation. Our experienced team of dental accountants is trusted by new and established dental practices in New Jersey, New York City, and throughout the United States to provide top-notch dental practice consulting and accounting services.

Start your dental practice right with our startup services.

From financing and loan assistance, entity selection assistance, and accounting systems setup to insurance analysis, compensation model development, employee benefit and personnel review, and more, the expert dental accountants from LLI will give your startup dental practice the foundation it needs to succeed.

How to Start and Grow a Successful Dental Practice

For over 15 years, LLI Advisory Group has been helping new and existing dental practices succeed. Starting and growing a dental practice is complicated, and without proper accounting and financial management, your dental practice will struggle to be profitable regardless of how well-marketed or ideally located it is. Our skilled and experienced dental CPAs have developed the experience and skill set to help you avoid the common pitfalls of managing a dental practice and make the complex process of setting up a dental practice easier for you. LLI offers the following practice management services to help your new dental practice get off to its best start and continue to grow throughout the years:

  • Financing / Loan Assistance

    When seeking financing to start or expand your dental practice, it’s essential to present potential lenders with a sound business plan and solid financial projections. LLI will help you determine the ideal type of financing for you and make sure you are presenting your business in the most complete way. Before you accept any financial assistance, we can determine whether it’s a financially sound decision for your dental practice.

  • Entity Selection Assistance

    Choosing the right entity type for your new dental practice is crucial because the way you organize your dental practice as a business has both legal and tax consequences. State laws and the structure of your practice will help determine entity type selection. We’ll leverage our dental accounting expertise to help you select the entity type that’s best for your practice.

  • Accounting Systems Setup

    The LLI team will help you establish well-organized accounting systems and procedures that enable you to gather the financial data you need to make sound business decisions and manage your new or existing dental practice effectively.

  • Insurance Analysis

    It’s important to choose an insurance plan that meets your needs. We’ll help you become familiar with the various types of insurance that can help protect you and your financial investment and choose an insurance plan that’s best for you. We have the experience necessary to guide you through this process and help you determine the level of insurance you should purchase.

  • Compensation Model Development

    An effective compensation model is essential in retaining a talented team that drives profitability through patient satisfaction. Although compensation is one of the most controllable expenses for a dental practice, building an effective and affordable compensation plan can seem daunting. The expert dental accountants from LLI will help you establish a solid dental practice compensation model by carefully reviewing your financial position and market and industry standards.

  • Employee Benefit and Personnel Review

    Your employee benefits package needs to be both affordable for you and motivating for your team, but hiring staff and choosing which employee benefits to offer can be complicated decisions. How many people should you hire? Which benefits are required by law and which are discretionary? How much will all of this cost? We’ll help you determine the ideal number of employees to hire and design employee benefits that are competitive in the marketplace and financially sustainable for your dental practice.

  • Dental-Specific Financial Statement and Metric Development

    At LLI, we’re dedicated to helping you make effective business decisions. We’ll meet with you to help you interpret your financial statements and discuss our analysis of your practice’s profitability. We’ll assist you with proactive decision-making by analyzing the factors affecting your dental practice’s profitability, how your profit has been allocated, whether additional funds are available to distribute, or whether you’ve been over-distributing your profits.

  • Cost Analysis against Industry Benchmarks

    To set business goals, track results, and modify strategies, you need a clear understanding of how your practice’s financial health compares to that of other dental practices in your geographic area. Our team’s training and dental accounting experience make us uniquely qualified to help you take the guesswork out of industry benchmarking and help you set specific and measurable targets for your practice. Some of the benchmarks we will review with you quarterly include:

    • Dental Supplies
    • Lab Fees
    • Ortho/Implant Supplies
    • Staff Costs
    • Overhead
    • Marketing
    • Associate Costs
    • Discretionary Expenses
    • Cash Reserves
    • Debt Service Analysis

  • Retirement Plan Evaluations

    When starting a new dental practice, planning for your retirement might be the last thing on your mind. However, to maximize your retirement savings, you should begin retirement planning at the beginning of your career. We’ll explain why it’s important to avoid common pitfalls like sacrificing retirement savings to pay back student loans at an accelerated pace or depending on the sale of your practice to provide you with a retirement fund. We’ll help you design a retirement savings plan, monitor your retirement plan over time, and recommend adjustments as needed.

Why Do Dentists Trust LLI Advisory Group for Practice Startup & Advisory Services?

  • Advisory Expertise

    LLI’s dental accounting specialists understand the unique needs of your dental practice and keep apprised of trends in the dental industry. We have the specialized knowledge needed to guide you in making decisions that support your financial goals, from practice startup through retirement.

  • Experienced Dental Accountants

    Our team works with dentists daily and has over 15 years of experience providing accounting services for startups. We have an excellent reputation for helping dentists start, maintain, and transition their dental practices successfully..

  • Proactive

    We understand the nuances of the dental industry and will proactively present ideas and recommend solutions to help you meet your practice’s goals throughout its lifecycle.

  • Professional Network

    Having a trusted team of dental industry experts who can provide you with the array of coordinated services you need to start, grow and maintain a dental practice successfully is essential. When you partner with LLI, you have access to our professional network.

  • Team Approach

    An LLI partner, relationship manager, and a staff member will work together to provide you with top-notch accounting and advisory services throughout the year.

  • Personal Attention

    We pride ourselves on providing each of our clients with personal attention customized to their needs.

  • Accessibility

    Our team will return your phone calls and emails within 24 hours with answers to your questions.

  • Progressive

    Since opening our firm in 2004, we’ve used technology and paperless communication to ensure timely and secure data exchange and conversation with our clients.

Exceeding the Expectations of Dentists

Dentists Love Our Accounting Advisory Services

Our clients know that they can depend on us in their day-to-day operations. Satisfied clients drive our firm, which is a testament to our unparalleled service and attention to detail.

Start Achieving Sustainability & Growth and Unlock the Potential of Your Practice

Let’s Talk!

Whether you own a dental practice or are just getting started in the field, it’s never too late to start making the critical decisions for your practice that pave the way to reaching your financial goals.

Leverage our Dental CPAs’ experience in dental practice financials, dental office operations, and industry benchmarks by putting our team’s decades of dental accounting advisory experience to work for you! Call or email us today to schedule a consultation with Jerry or Dom to discuss how LLI Advisory Group can help your practice thrive.

Schedule A Consult (908) 358-0500