The Role of Insurance Credentialing in Dental Practice Transitions Insurance credentialing is a ‘necessary evil’ in many, if not most, dental practice transactions today. While some dental practices are Fee for Service only, many participate with Preferred Provider Organizations (PPOs). It is important to understand why insurance credentialing is necessary, what issues may be encountered […]
Big City Lights vs Small City Bites: Why You Should Consider Practicing Rural Dentistry I get it. You strive to be the envy of your dental peers. You want them to be jealous of you for having a swanky, luxurious office in a highly populated, maybe affluent part of a major metro. The thought of […]
Retiring and selling your dental practice is one of the most significant events in a dentist’s career. You only have one chance to get it right – so be prepared. The average retirement lasts 6,470 days. For these Autumn days to be successful, equal amounts of personal and practice planning are required. In this article, […]
After a delightful 3-year break from payments, as well as interest accrual on student loans, dentists with student debt should prepare to resume making payments again beginning in October 2023. Interest on student loans will resume on September 1, 2023, and payments will be due starting in October. The initial suspension or “freeze” in student […]
Selling a dental practice can be challenging and ensuring that you sell your dental practice for the right value is crucial. A successful dental practice sale needs careful planning to get the best return on your investment. The selling process can be complicated when you’re ready to sell your dental practice. It’s best to avoid […]
Should You Sell Your Accounts Receivable? The short answer to this question is yes, it is a good idea to sell your accounts receivable if both parties agree and the price is carefully evaluated. The reasons for transitioning the accounts receivable are related to supporting a seamless transition for the Selling Doctor and the Buying […]
EBITDA – six letters that can make all the difference in your dental practice transition. Whether you’re thinking of buying or selling a practice or just want to know what your practice is worth, all you need to do is calculate your practice’s EBITDA, and you have the magic key that unlocks all the […]
Remember that first time you didn’t have all summer for vacation? Summers off were no more, which is a hard realization. #adulting So how can you get the life you want as a dentist? Here’s the ever-so-harsh reality. We spend the vast majority of our waking hours at work, which makes improving your work situation […]
I have been a dental practice broker over 20 years now after owning a large successful practice for 17 years with my wife and dentist. My daughter graduated from dental school 4 years ago and married a classmate, so the husband-and-wife dentist team structure continues for another generation. The landscape of dentistry has changed dramatically […]
Tips for Announcing a Dental Practice Transition Transitioning your dental practice requires balancing the amount of information released against maintaining the confidentiality of the transaction. On one hand, you want to market the practice and inform potential purchasers of the opportunity. On the other hand, you need to control how and when the patients, staff, […]
Make a Good Impression It may sound like common sense, but the best thing a buyer can do is to put your best foot forward with the seller the moment you first meet, and make a good impression. Forget that you are nervous about paying all that money for goodwill and old equipment. The most […]
Contracts, and the negotiations that surround them, are a significant part of the dental transition process. The most common contracts include the asset purchase agreement, real estate lease or sale agreement, and employment contract. Having the right team in place is essential to navigating this area successfully. Types of Contract Agreements for Dental Practices The […]
I agree with Madeleine Albright, former Secretary of State, when she said, “Every step in life should be more exciting than the last.” If you are contemplating an exciting new stage in your life, from buying your first practice to retiring from dentistry, then a roadmap is critical to your success. However, it is the […]
DSOs are here to stay. They are spreading nationally, and many believe they will be the largest providers of dental services very soon. Why? The obvious reason is that dentistry can be very profitable and provide a steady return to investors. Why did it take so long for investors to jump into the business of […]
The single-most important factor in determining the practice sales price is the collection total of the previous calendar year. Lenders and buyers like to see stability without large variances from year to year. It should be obvious that steady, slight increases in revenues are always better than even the slightest of decreases. Poor performance of […]
Planning Dental Practice for Sale by Owner Can be Daunting. Take our Quiz to See if You’re Ready. If you’re considering selling your dental practice without the help of a professional, take this quiz to make sure you’re both physically and mentally ready. The key is to be able to answer all these questions as […]
Many of us have probably heard from individuals who think sellers don't need a practice broker to sell their dental practice.
This article by ADS member Earl Douglas will be featured in the October issue of Dental Entrepreneur. Boy, talk about being dealt a bad hand, and that’s definitely an understatement. Who could imagine that just as I’m finishing an eight year journey to becoming a licensed dentist that the country would experience the most dire […]
I would like to share some stories with you concerning a few of the transition disasters I have witnessed. Whether you are a potential seller or buyer, learning from them might help you avoid the same mistakes that some of your colleagues have made. We will start with my first dental practice sale. Almost 30 […]
Whether you’re looking to transition and sell your practice or you are interested in buying a practice, the pandemic has put the brakes on a lot of dental professionals’ efforts. The current concern and hesitancy is understandable, but is it justified? Our latest white paper analyzes the current situation by looking at the marketplace pre […]
The decision to buy or sell a dental practice is a significant undertaking. It can be overwhelming for many doctors because they often only buy or sell a dental practice once in their career. As a seller, your experience from when you purchased a dental practice will significantly differ from what a buyer experiences today, […]
COVID-19 has all of us questioning how we move forward. Unfortunately, many will retreat into their safe zones when it comes to making a career choice or financial decision. From a strictly financial standing during times of economic prosperity or downturn, it is always better to own a practice than to be an associate in […]
Use Downtime as an Opportunity to Add Value to Your Dental Practice Sale We are often asked by potential dental practice sellers what they need to do to get their practice ready to be sold. Our expert dental brokers developed a list of 10 tips to prepare for a dental practice sale. They are: TEN […]
By Ryan Brengman, Shea Practice Transitions During a recent conversation with a new graduate, I inquired as to their professional goals and aspirations as they made their way in to the world of practicing dentistry. Their reply was, “I guess I will just go work for one of the big companies.” This response was void […]
A recent practice transition that we handled included the purchase of the selling Doctor’s accounts receivable. The buyer inspected the accounts order to arrive at a reasonable purchase price and the seller also contemplated an agreeable amount. Both parties found an amount they were satisfied with and the transaction was completed. However, there were issues […]
Suppose that when you begin your dental career that you will have to check a box like..
Most of our ADS Dental Practice Transition Specialists have over 25 years of experience in this industry and typically the best time to list your practice for sale is at the beginning of the year. The New Year brings a lot of resolutions and with it commitments to make big life altering decisions. Dentists who […]
While speaking with a lender who does dental transition financing, he mentioned the great rate of returns a lot of corporations get by purchasing dental practices. He said that buying the right practices, even at fair market value, would result in rates of return as high as 15-20%. That is an incredible return rate for […]
By Steve Jordan Before you try to sell your practice on your own, you need to take this test. Unless you are SURE of the answers, and why, you should rethink trying to sell without professional help. There will be lots of “tire kicker” prospects. Some you will know. T/F A classified ad in the dental society bulletin […]
When sellers hit the twilight years of their practices between aggressive growth and the sale, they want to be comfortable and not face hassles or be hustled. Staffing is generally the biggest angst that doctors have, and they make every effort to be comfortable when they build their teams. With employee costs being perhaps the […]
Some of the frequent statements or questions I hear from dentists these days are – “I wish I could just be a clinician and not worry about running the business,” “What is the value of my practice?” “When is the right time to sell my practice?” and “What options do I have to practice after […]
When selling a practice, there are many issues that have to be addressed. One of the more difficult ones is deciding when and how to tell patients and staff about the sale. There are several points of view as to what is the best approach. What is right for one practice may not work for […]
by Bill Avery, DDS, PhD As happens with most dental practice brokers, I frequently get calls from dentists who are considering bringing in an associate so they can eventually sell their practice to the associate and retire in a few years. For simplicity’s sake, I prefer the “sell and walk away” transition method where the seller […]
The buyer pool for dental practices changes daily. It is organic and it flows. In my practice transition world, every day dentists buy, sell, move, merge, partner, retire, or try something else. In my opinion, dentistry is the best entrepreneurial profession in modern medicine. Several times a week I speak with dentists who are entertaining […]
Baby boomers are perhaps the largest segment of full-time practicing dentists in the country today. Many are reaching a point where they need to decide how to transition out of their profession. We will briefly discuss some options during this important phase in your decision-making process. The goal is to arm you with 1,000 questions […]
Most dentists look forward to retirement, even if they’ve had an interesting and rewarding career. However, in the rush to achieve their retirement goal, practitioners often fail to anticipate the changes that come with selling their practice and riding of into the sunset. Selling a dental practice is an emotional as well as financial step, […]
Ensuring patient satisfaction and investing their efforts into developing a more rewarding long-term relationship is a key effort for many dental providers and practices. There are several arenas in which dentists can work to increase patient satisfaction and ensure ongoing success and repeat business. Transparent Policies Having a booking policy that allows for the maximum […]
Many dentists never consider the business side of their industry until they are faced with buying or selling a practice. In many cases, dentists have staff or outside help to manage the intricate legal and financial side of their business. This is fine during the normal course of ownership, but more involvement becomes necessary when […]
Like any career field, running a successful dentistry practice has its own obstacles. You can overcome those obstacles, but only if you see them clearly. You must know both the myths and the real reasons why your business is not successful before you can work on the problems. Myth 1 – Salaries are too high […]
There are many factors to be considered when attempting to increase the value of your dental practice prior to a sale. The primary goal is to make your practice as attractive as possible to prospective buyers. This doesn’t mean slashing staff salaries or adding shiny new equipment. Instead, you should identify the best aspects of your practice […]
Evaluating a dental practice for sale is a multi-step process. If steps are skipped, problems can arise before, during and after the transition. If this process is completed properly, however, the transition will be carried off in a professional and successful manner. Step 1: The Initial Consultation The initial consultation for a practice valuation should cover […]
There is a lot of misleading information about how to increase the value of a dental practice.
A recent article from Forbes Magazine/Forbes.com reviewed the ten highest paying jobs. Not surprisingly, topping the list was surgeons (averaging $225,390 per year). Of the top ten, seven spots went to medical professionals and two to dentistry, specifically Oral-Maxillofacial Surgeons (#3 at $214,120) and Orthodontists (#5 at $200,290). The article mentioned the specialized nature of […]
In the course of a year, we will receive several calls from a grieving spouse or staff member, informing us that the doctor has suddenly passed away. The spouse or staff member has been given our name by other dentists, the dental society, the dental association, or the dental board. The question is always the […]
The fear that existing staff will not stay with a new doctor after selling a dental practice is largely unwarranted in the majority of practice transitions. Although it could happen, it normally does not. Here’s why. When a new doctor buys an existing practice, the staff has two options: 1) Stay on (provided the new […]
