|
...62.
His perception
Dr. Ziffel's practice currently produces $500,000 gross collections. His $170,000 income provides a comfortable lifestyle. The Ziffels have enough money for the kids' extracurricular activities, office improvements and family activities. Shelli's remodeling projects have given them possibly the nicest house in their neighborhood, worth about $250,000 in this low-cost area.
Dr. Ziffel values his relationships with his staff (two hygienists and two assistants) and 2,800 patients, many of whom are friends. He believes that he could not be more profitable without sacrificing patient care and relationships. He receives about 30 new patients a month; many come looking for a personal touch after dissatisfying experiences with a nearby large, impersonal practice. He targets $375 per hour production for himself, though he is content to do 80 percent of his goal. However, based on his revenue, he does only $220 per hour. He feels his fees are in line with the area--not the highest around, but not the lowest either. The only drawback he sees in his patient base is a low dental IQ, requiring extra time on education.
In addition to his mortgage, building loan, student loans and recently increased fife and disability insurance, he saves $1,000 per month to a SAR invested in Oppenheimer funds ($72,000 balance) and $100 per month to two New York state 529 plans ($14,000 balance). The Ziffels are not carrying large consumer debt. The Ziffels' broker drew up a financial plan for them about four years ago, but it has fallen by the wayside. They would like to get their financial bearings, but money is not a big worry....
NOTE: All illustrations and photos
have been removed from this article.
Looking for additional articles?
Search our database of over 3 million articles.
Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication
name or publication date.
About Goliath
Whether you're looking for sales prospects, competitive information, company
analysis or best practices in managing your organization,
Goliath can help you meet your business needs.
Our extensive business information databases empower business
professionals with both the breadth and depth of credible,
authoritative information they need to support their business
goals. Whether it be strategic planning, sales prospecting,
company research or defining management best practices -
Goliath is your leading source for accurate information.
|
%20%20&position=1)