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How Dentists Are Managing Their Cash Efficiently

how dentists are managing their cash efficiently

You own a successful dental practice. You bring in enough money to pay your staff, rent, equipment, and more. But there’s excess money sitting in your corporate bank account, so how can you be strategic about it?

In this guide, we’ll shine a light into treasury management and steps you can take to plan for the long-term health of your dental practice.


What is Treasury Management?

Treasury management is not only about cash flow. It also involves managing a company’s daily cash flows and larger-scale investment decisions. Properly managing your treasury will go a long way to helping your business be financially prepared for anything that may come up in the future.



Traditional treasury management is to put excess cash into high yield savings accounts. However, during times of low interest rates, there are limited options for that capital to stay productive.

During periods of high inflation, treasury management becomes ever more important. As a business owner, your job is to make sure that your treasury keeps up with inflation. 

In the current environment, you’re offered 1-2% interest by banks to set aside your money in their savings account. If you are earning 1% on your treasury but inflation is 5%, then you are effectively losing 4% of your purchasing power every year. 



One solution is to put it in higher yield investments. One way to do this includes a savings account with Ledn. 

Ledn offers an 8.00% APY return on USDC with no minimum balance and no locked-in term. This means that you can park your excess capital into USDC (backed 1:1 with USD in a bank account) and be able to withdraw it whenever you want. In the meantime, you are earning 8% APY.


How To Fund

Funding can be done using Bitcoin or USDC. The easiest way to fund your Ledn account is to fund using PayTrie. You can directly fund your Ledn account using Interac e-Transfer.

To fund your account, you would first need to set up an account at www.paytrie.com

After you’ve finished the set-up process, you can choose the amount that you would like to send to Ledn. Using $2500 for example, if you would like to send $2500 CAD, you would end up with 1971.59 USDC. This rate will change according to the exchange rate of CAD to USD and also according to the gas prices. You can save some money by timing your purchase when gas prices are lower.

How to fund Ledn Canada

Once you’ve clicked Swap, enter your Ledn wallet address. Make sure to double check the wallet address and make sure it matches with the wallet address provided by Ledn. The box to “Add some ETH to this transaction” is optional, so you can leave this unchecked.

How to fund Ledn Canada

PayTrie will then send a Request Money Transfer to your email requesting the amount you’ve booked ($2500 in this case). You just need to log in your bank account and select “accept”. Once PayTrie receives the eTransfer, the USDC will be sent directly to Ledn. They say to allow 24 hours for the first transaction to be completed, my first transaction took a little longer than an hour. Transactions following that have taken less than an hour.

Once the USDC is in your Ledn account, the choice is yours to decide whether to start earning interest, or trade for Bitcoin and start earning interest/borrow off the Bitcoin.

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