Orthodontic Practice Startup Expertise Saves 10% in Annual Overhead
Several years ago two successful Madison orthodontists, each part of an established practice, decided to take on a new adventure and start their own practice. Dr. Steven Peterson and Dr. William “Chip” Bird became equal partners in Orthodontic Specialists of Madison which has expanded into four office locations and almost 40 staff.
Prior to becoming partners, both Dr. Peterson and Dr. Bird individually had long-standing relationships with SVA (more than 23 years) to rely on and it was only natural they chose to continue this successful relationship.
“SVA helped us start our new business, transition our old practices and they have been a good resource from human resources to planning to purchasing new equipment,” stated Dr. Bird. “They’ve helped us in determining when the time was right to hire an associate, helped increase benefit packages for our employees and assisted us in making our practice as profitable as possible.” In the first four years of practice ownership, SVA helped Orthodontic Specialists of Madison realize a 10% reduction in total overhead. The reduction occurred despite relatively high investments including start-up costs and adding an associate to the practice.
“Our bottom line has increased every year despite the economic stress,” added Dr. Peterson. “SVA is very responsive with helping us find the answers we need. I see them as true ‘fiscal mentors’. They are like another part of our office family and I view them as another staff member.”