My Monthly Income Report – May 2013

Well  well! This month of May 2013 is over and I'm here with my first monthly income report.This month was good in many sense.

What happened in May 2013-

1. I got new patients even after immense heat of summer- I got 60 new patients (I have to take it to 100 new patients every month).
  
2.My wife (She is also a dentist) completed her 20 weeks of pregnancy so we went to sonologist for anomaly scan and every thing was fine and normal. relived.   

3.Even after seeing only 60 new patients I managed to collect a good sum ie. 64,130/-

What are my plans for June 2013-

1.I'm planning to make brochures and pamphlets this month for future marketing campaigns.

2.I may dispatch 4000 pamphlets in local news paper this month.

3.No other special action this month (just let the clinic go in auto pilot, I may update my action plan in regular intervals)

Bellow is the Detailed Monthly Income Report of May 2013-

Total Monthly Cash Collection	64,130 Rs
Total Number of New Patients	60
RCT	10
Ceramic Crown Units	30
Metal Crown units	1
Denture	0
Orthodontic installment	2
Filling	2
Extraction	8
Composite bonding	0
X-ray	Not counting
#Mandible	0
Other Surgeries	1minor
Scaling, Cleaning	1
Note -	There were many pts who does not accept any t/t
Monthly Expense
Rent	10,000
Assistant	4,800
Electricity	1,850
Dental Materials	7,150
TV	0
Petrol	700
Internet	0
Lab	8,370
Other Consumables/Medical	300
Miscellaneous
Total	33,170
Profit= Total Collection- Total Expense	64,130-33,170= 30,960/-
Profit In words	Thirty thousand nine hundred sixty only

    Write any comment or tell me how was your month in bellow comment box

What Things I'll Document in My Monthly Income Report.

The most exiting and important part of my blog will be the monthly income reports that I'll publish.

Question arises what things i'll document in my monthly income report?

First I'll tell you happening of that month; what I have done and what results I got.

Then I'll document what I have learned from this month, Learning can be clinical, business oriented or personal.

Then I may document my plans for next month.

Then I'll tell you how much I'have earned this month; here's a sample table for you.

Monthly Income Report for the Month of:

Total Monthly Cash Collection	-X0000 Rs
Total Number of New Patients
RCT	X no
Ceramic Crown Units	X no
Metal Crown units	X no
Denture	X no
Orthodontic installment	X no
Filling	X no
Extraction	X no
Composite bonding	X no
X-ray	X no
#Mandible	X no
Other Surgeries	X no
Scaling, Cleaning	X no
Monthly Expense
Rent
Assistant
Electricity
Dental Materials
TV
Petrol
Internet
Lab
Other Consumables/Medical
Miscellaneous
Total
Profit= Total Collection- Total Expense

             
 
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Cost of Opening and Running a Small Dental Clinic in India

This table summarizes how much is my investment and how much I am spending per month to run my clinic.
Cost is in Indian currency- Rupees.

Size	2 Chair Dental Clinic 240 Sq feet total area 70 sq’ Reception 50 sq’ Consultancy 120 sq’ Operatory
Total Investment Until Now	Dental chair 1- Dental chair 2 X ray 1 X ray 2 surgical instruments 2  Scalers Intra oral camera TFT screens  Air rotors Composite kit Curing gun- cocso Crown remover Initial Dental  Material Compressors 1 and 2 Air Conditioner  Inverter Furniture Interior/ partition	1,00,000 75,000 30,000 20,000 10,000 18,000 11,000 10,000 9,000 9,000 6,000 2,500 40,000 30,000 38,000 16,000 30,000 1,50,000
Total Investment until now		6,04,500
Monthly Expense	Rent Assistant Electricity Dental Material TV Internet Lab	10,000 4,800 1,500 3,500 250 300 10,000 (estimate)
Total monthly Expense		30,350/ month
Total Startup  cost		6,04,500 (have been recovered on feb 2013)
Total Annual operating cost		3,60,000/ year
Target monthly collection (to make 50,000 as profit)		80,000/ month

Image courtesy of Sippakorn / FreeDigitalPhotos.net

The Business Basics of a Small Dental Clinic.

My clinic is not a fortune 500 company nor it is made to run for 100 years, So I don't want to go in huge (by developing authority and stable recurrent revenue streams) to improve my lifestyle and live a happy stress free life.
details. Let's keep it simple I want to make some money in up coming 20 years

The basics of earning money from dental clinic lies in Monthly Earning (Profit). If you want to make good money then you  must learn to generate larger amounts of profit every month. ( And you must learn to invest it and not to spend it like a crazy )

In dental clinic we try to increase our exposure, Impression and reach so that we can have lots of new patients. Good recognition, Impression and exposure in the locality and surrounding areas will increase inflow of new patients (This is called social marketing we will discuss it in detail later).

So we want to increase the monthly earnings or profit which is actually the amount of cash which is left after one month of productive working and minimal spending. So question arises How to generate more monthly earnings (profit) from a dental clinic?

To answer this question you must know about few things:-


1. Investment- Amount of money required to start a clinic.( Get free from any loan as soon a possible because the day you will be loan free from that day you will really start making money)

2. Expense (cash outflow)- Amount of money required to keep the clinic running on monthly basis.(Always try to keep this shit as low as possible, be economical and cheap here, don't feel shame)

3. Revenue (cash inflow)- Amount of money your clinic generates monthly.( Try to collect great amount of money every day it will sum up)

4. Profit- Amount of money you get after doing all above things on monthly basis. (Make as much as possible every month and invest it on regular basis, don't start spending it to generate pseudo status and show)

These are 4 pillars of  my monthly earning , A dental clinic must have a good balance in between all these four pillars to make it stable and productive.


Now back to the question - How to generate more profit from a dental clinic?
We can generate more profit from a dental clinic by increasing the revenue generation and by wisely controlling the expense of the dental clinic.

Now we know the basics of our business. Aim is to increase the revenue ( which will increase our profit) while controlling the overhead expenses of the practice otherwise we will become non profitable which will result in frustration and grief.
In next post I will try to summaries various ways to increase the revenue of our dental clinic so that we can earn large amount of money.

Image courtesy of / FreeDigitalPhotos.net

First post of this blog

It's 13th May of 2013 and I'm starting this blog today to document monthly income from my dental clinic. I'm
running my dental clinic since June 2010 with lot's of ups and down. The bad thing what I did was that I never kept records of my income which resulted in anxiety and frustration when there were low earnings.

My thinking behind this income report- I need motivation to do something and I think there are lot's of Indian dentist out there like me who want to grow there dental practice and income. This income report will help me to keep a detailed record of my business and research and develop it to reach a respectful level. This Income report will also help me to discuss and share my learning.

Tools I will be using- Right now I'll be using only this blog as my tool for record keeping on my computer but I want a free software for record keeping which can produce graphs of my progress. On offline purpose i'll use a notebook to keep my records.

My identity- Sorry! I can't disclose my identity for obvious reasons, I'll be posting as anonymous on this blog.

Image courtesy of  FreeDigitalPhotos.net