Financial Management: "Professional Tax" For Dentists

 

Financial Management: "Professional Tax" For Dentists

I have come across many incidences where professionals had to pay additional interest to the government as they failed to pay their professional tax and this happens because most of them were unaware of Professional Tax. Some also have misconception that taxes are to be paid only when their income comes in the tax bracket & they approach CA only when their income becomes taxable under Income tax. This blog is an attempt to expound the concept of professional tax and help you save on penalties.  

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What is Professional Tax Or PT?

PT is a tax charged on the income earned by way of profession or employment. This is additional to income tax and has to be paid to State Government. Professionals like doctors, lawyers, chartered accountants, artists etc comes under the purview of this tax. This is a slab-based tax and the rates vary state to state however the maximum amount that can be charged as PT by any state is Rs. 2500 annually. 

 

Registration for Professional Tax 

It is advisable to register your practice for PT immediately after commencement of dental practice. Before registering yourself for PT, you need to understand two main things one is PTRC and the other is PTEC. 

Professional Tax Registration Certificate (PTRC) is to be obtained by the professional in the capacity of employer. For instance, if you have 10 employees working with you in your business having monthly salary more than 7500, then you need to deduct PT on their salaries every month as per the rate given (Rs.200 per month & Rs.300 for February month).

Professional Tax Enrollment Certificate (PTEC) is to be obtained by the professional for its own existence and engaging in profession (business) within the state of Maharashtra.

PTR will have to be paid according to the salary paid to employees whereas PTE is fixed at Rs.2500 annually.

 

How to register? 

Step 1: Log on to www.mahavat.gov.in and open ‘e-PT Registration’ in e-services and fill in details like Name of the applicant, PAN, TAN, Status of Applicant and Location. Select Act as ‘PTRC/PTEC Registration’ (any one which you have to register for), the e-application for registration in ‘Form I’ will open for PTRC and ‘Form II’ for PTEC. Fill in the complete details and ‘Submit’.

 

Step 2: Once the application is submitted; an acknowledgement is generated containing date and time for attending before registration authority along with designation and address of registration authority. This acknowledgement has to be printed and signed by the applicant and produced before the PT registration authority at the time of verification on given date and time along with relevant documents. Once it is approved by the authority, TIN (Registration Certificate Number under the profession Tax Act) is generated. 

 

Step 3: After obtaining Registration Certificate the certificate holders are now needed to enroll themselves for the e-services on the same website, this will enable them to file e-return and e-payment of professional tax. 

 

The due date for paying PT is before 30th June of every financial year.

 

Consequences of late payment or non-payment of PT:

For late payment of PT, interest @1.25%-2% pm is levied and the state may also impose a penalty of 10% of the total amount due.  

Please Click Here for the due Dates for profession tax payment

Source : DentistFriend

How To Decide Which Practice Management Software To Buy

 

How To Decide Which Practice Management Software To Buy

In this blog let’s see what to look in good Dental Practice Management Software?

 

Friend’s, the purpose of practice management software is that it should help you to manage your whole practice easily. If you are based in tier I or tier 2 cities and still not using practice management software then probably you are lagging behind.

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There are hundreds of practice management software available in the market and many are free of cost but when I say good software then the number shrinks to 3-4. Even out of this 3-4 software, every software has some or other drawback.

 

For example: If one software helps in branding it doesn’t help in marketing or vice versa. One will have a multi-practice option but will miss on some other feature.

 

Now, as a consumer you have to decide what you want and which software fits in with your requirements.

 

 

Here are some insights on how to decide which software to buy?

Before you go ahead reading this blog make sure you have read,  “Life-cycle of your Dental Practice” otherwise you won’t understand what I am going to tell you.

 

1. If you are in your introduction stage of your practice then probably you need to take support of other big brands to become a brand but if your practice is already into a maturity stage then instead of relying on third-party marketing, you can have your own marketing budget and use the software that helps in branding your clinic.

 

2. Here is something I want you to think about, let me put this in simple words, suppose you have subscribed a paid version of the software and using it to send messages to your patients then ideally all the messages should go by your clinic’s name and not by the software’s name. If messages are being sent by the software name then it means that the company is branding themselves & charging you for it.

 

3. Second important aspect is that, some companies promise to list you on their portal but what’s the sense if there are already 10 dentists listed on the same page no matter above or below me coz at the end of the day it’s not killing the competition but creating a competition further.

 

So be careful before you get trapped in to this marketing jargon.

Source : DentistFriend

How To Design Your Dental Clinic - Part 2

 

How To Design Your Dental Clinic - Part 2

The main reason we all want to have successful clinics is for a better future for our self and our families. It is important to design clinics in such a way that they can accommodate any future additions and changes. It is very important to understand the clinician’s idea and patient’s idea of a clinic. A patient may want a clean, nonsmelly, private chamber clinic where as the clinician will want a more functionally stable, well-equipped operatory. As both the needs are different, we need to have a balance between the two and create that balance in our clinics. From a clinician’s point of view, one must have a vision of his future clinic and ideas to execute them. Some may wish to expand; some may wish to make it more functional.

Let us start with basic planning…

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Floor plan

 

There should be smooth flow in work. There should be continuity from the reception till the working area to the restroom and to the laboratory room. The size of each room can be decided on the needs of a clinician. He may have a big reception and compromise on his chamber/ laboratory room or vice versa. The size of the treatment rooms should be such that the clinician, patient and the assistant get enough space and none of them feel claustrophobic. Some clinics have really small treatment rooms probably by no choice. For such rooms, concentrate on colours and lighting to make it look bigger.

 

 

Flooring

 

It can be different in different sections of the clinic. The reception can have a nice wooden or marble flooring to add that classy effect. Now days we have tiles which have wooden effect given to them. They look really good and are low maintenance. Carpets can be used in reception but not in treatment room, considering the difficulty to clean them and maintain infection control. The treatment and the cleaning room can have tiles which can be cleaned easily. Make sure your tiles are anti-slippery.

 

 

Colours and lighting

 

The lighting and the colours should be soothing and create a harmony for the mind to relax. They should complement the surrounding and make it look peaceful and serene. Having windows and natural light also soothes the mind and helps in better shade selection. Shade selection is an important often ignored aspect. Finally it’s all about the end result of an aesthetic case, however, beautiful your teeth preparations are, shade match has be to perfect. The treatment room should have ambient lighting with no shadows or dark areas. Colour theme for the flooring, walls and equipments can be in sync. Cool colours, pastel shades of green, blue and purple can be used in the treatment room. Warmer colours in shades of red, yellow and orange can be used in the reception.

 

 

Working/Treatment area

 

This is the area that should provide the clinician with peace. When you work, it should increase your productivity. It should not fatigue you and make your mind and body tired. There should be enough room for both the clinician and the assistant to work freely. The range of motion should be greater than 180 degrees. This area should have maximum space for all the instruments and equipments.

 

 

Photography section

 

Turn in one of your walls for photography. Documentation is a very important and forgotten aspect of our practices. There are various advantages of documentation. The first is you have a legal record of the work done. Secondly, one can learn so many things from pictures. The patient also feels special and that glamour quotient is added.

 

 

Latest equipments

 

Dentistry is going through lot of digital development. Though one may not have the finances to have better equipped clinics today, but surely things will be different in future. One may then wish to have an in house OPG machine or CBCT machines. One should plan for space accordingly in the present to accommodate in the future. Many people now can afford such machines but due to lack of space are unable to have them.

 

 

Professional Looks

 

Looking professional and appealing is need of the time. There should be architectural and design balance with clinical needs, ergonomics and technology. Patients would like to go to a clinic which is well organised, equipped, provide quality service and excellent presentation. If you do not have such a vision to design and plan, hire professional designers and architects who will help you to execute your needs in a better and planned way.

 

 

Stay tuned for part 3………..where we discuss various sections in a dental clinic and their designing and importance in detail.

 

You can contact us if you need help in designing your clinics.

Brand and Logo Designing.

Designing the clinic according to your needs.

Ergonomically designed clinics.

Improve your existing dental clinic.

Construction specifications for a dental facility.

 How To Make Your Clinic A Patient Magnet? - Part 1

Source : DentistFriend

Dental Practice Management: Grow and Let Others Grow!

 

Dental Practice Management: Grow and Let Others Grow!

Dear All,

It is in almost every group or discussion forum, there is a discussion of fellow dentist criticizing/badmouthing the other in front of patients or ridiculing his/her work or charges. Unfortunately, in our profession, unlike hotel management students, we do not undergo a grooming school, and our work behavior is based on what we learnt in the clinic we did our observer ship. All of a sudden, from doctors we become businessman from the 1st day of our clinic opening. Though, not any expert or fault free, after 8 years of practice, I feel mature enough to share my thoughts to fresher who are about to start or recently got into practice.

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1. Stay Focused:

Your practice doesn’t grow 1% by bringing down someone else’s name nor would the other practice go down even 0.5% with your fruitless efforts. Concentrate on your work.

 

2. Filter Unnecessary Talks:

Patients would love to share their bad experiences with previous dentist. Curtail those talks and stick to basics of chief complaint, followed by diagnosis and treatment plan.

 

3. Use Alternate Terminology:

Instead of telling the patient, “Bahot bekaar filling ki hai aapki” “Filling you are having is hopeless” modify your talks like, “There are some issues with the filling and hopefully I will be able to address them better.”

 

4. Learn From Those Who Run Referral Practice:

Your oral surgeon doesn’t tell the patient that you have messed up a 3rd molar extraction. He simply does it and sends the patients. He is even ready to bear the complications which you might have made. Treat patients from other clinics in a similar way.

 

5. Keep Your Charges Justified:

Sky has no limit, but ground has. Keep your charges for every procedure in a justified manner. Keeping them too low cannot kill your competitor. Moreover, you lose growth and clinical expansion.

 

6. Don’t Be Overawed:

Meeting dentists from metros, don’t be influenced by their lifestyle of Mercs and BMWs. It is just a part. You never know what they went through to achieve this, including legal battles and strokes. But they have the best lawyers and best hospitals to keep them running. So run a healthy practice and have patience.

 

7. Stay Connected:

Meet your colleagues to share knowledge not grudges or discuss charges.

8. Do Not Out Rightly Reject Fellow Dentist’s Treatment Plan:

Everyone has his own way of thinking. If the other feels, his way would provide relief and long term solution, respect it. Be a doctor, not judge. Tell the patient, “I would or I can do it this way, please make a decision and chose your treating doctor.”

 

9. Stay Alive:

Don’t leave your hobbies. Cricket, music or dance or whatever, for me photography as a recent hobby, relaxes you so much that you, by default, stays away from unnecessary stuff. Don’t leave them, rather inculcate one.

 

10.Take Care Of Yourself:

Dentistry is a killer. It will break your back and neck. Let it not break your heart by going green with jealousy.

 

As always, keep smiling!

Source : DentistFriend

Myths & Facts About Doctors

 

Myths & Facts About Doctors

Myth 1: "Only medical profession is a noble profession"

 

Fact: Every profession, whether of a teacher, soldier, tailor or shopkeeper, is noble, if done with sincerity and integrity. A careless doctor can kill one, a careless  driver can kill dozens, a careless engineer can kill hundreds..

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Myth 2: "As it is a service to humanity, doctors should not run after money."

 

Fact: Money is an important measure of success. Running after it is not good for anybody, but earning more money by doing more work is not a moral crime. And all who advising doctors, themselves running after money, aren't they?

 

Myth 3: "Most of the time, doctors do not understand the disease and write unnecessary and costly drugs and advise tests and treat on a trial basis."

 

Fact: First of all, the doctor patient relationship is based on trust, if you do not trust your doctor, go to another one. Medical science is a lifelong learning process, and all treatment, to some extent is based on trial and error. The same medicine, which works for one patient may not work on another. 

 

Second, the responsibility of providing quality drugs at affordable prices lies not with the doctor, but with the state authorities, just like providing for better roads, unadulterated quality food and dairy products, uninterrupted power and water supply etc and etc. Like cloths, cars and mobile phones, costly drugs are generally better than cheap ones. However, if the government makes it mandatory to write generics, it should ensure quality and the consequence of poor/non efficacy should not be blamed on doctors.

 

Third, tests are done for patient’s own safety. Just like wearing a helmet or seat belt, investigations increase the safety. Most of the doctors in india are trained to work on clinical hunch and common sense and not rely too much on tests, and advise much less tests than what is actually written in the book or done in the developed world.

 

Myth 4: "Treatment costs are increasing irrationally."

 

Fact: As compared to western world, treatment costs in India are still very low, and many foreigners are coming here for this reason. And it would be worthwhile to think about any other service or product with as rapid advancement in technology and equipment as medical science, whose cost is not increasing

 

Myth 5: "Doctors are next to God."

 

Fact: Doctors are as human as can be. They also get tired, fall sick, have family commitments, get upset and stressed sometimes and can suffer from all the frailties of a human being. If anyone wanted to be treated by God then they can visit the temple.

Source : DentistFriend