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 […]

The odds of a dentist experiencing disability is a lot higher than most people would guess.  In fact, the odds of a dentist becoming disabled for at least one year during their practicing life (starting at the age of 20) is 25%.  The disability will most likely be attributed to musculoskeletal issues involving the neck, […]

Basic Understanding of Key Dental Practice Purchase Agreement Elements Understanding key elements in a dental practice purchase agreement are necessary to ensure a successful dental practice transition. Making the decision to buy or sell a dental practice is a major life event.  Once that decision has been made, navigating legal documents can certainly feel daunting. […]

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 […]

In today’s economic climate, dentists are becoming increasingly discouraged by the shortage of available practices for sale and are considering scratch-start practices. What to Consider if You’re Building a Dental Practice There are many things to consider if you decide you’re going to build or buy a dental practice. Dental Practice Financing To pay for […]

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 […]

What is the Employee Retention Credit (ERC)? The Employee Retention Credit (ERC), initially created by the CARES Act in March of 2020, is a refundable payroll tax credit for wages paid and health coverage provided by an eligible employer. This credit is available for qualified wages paid during the period March 13, 2020, through September […]

Dentists are increasingly getting a late start on saving for retirement. This is often because they are paying down school debt, financing a practice purchase, and so many other life/business matters. However, there’s a way to catch up these dental retirement savings, and even help to supplement the proceeds from a future sale of a […]

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 […]

Recently, a retiring doctor perused the website of a large and trusted dental insurance company and found information relating to practice sales. Part of that information included letters for sellers to give to their staff to make sure the selling doctor would be in compliance with state labor law upon the close of sale. The […]

Whether you are a first-time dental practice owner or someone looking to expand, relocate or add an additional location, the options for financing dental practice in a post-COVID economy have never been this extensive. When it comes to the types of financing available for dental practice purchases, the most common options are conventional banks, Small […]

If you’re a dental student or new graduate, you’re going to be faced with a multimillion-dollar decision soon. Would a difference of over $12 million dollars in a 30-year career make a difference to you? If so, keep on reading. I know you’re thinking, “What kind of stupid question is that? Of course, I would […]

Whether you are a first time practice owner or someone looking to expand, relocate or add an additional location, the options for financing today have never been more extensive. When it comes to the types of financing available for the purchase of a dental practice, the most common options are conventional banks, small business loans […]

In my career of helping dentists acquire their practices, obtaining financing is one of the bigger tasks. In previous years, I was dealing with the commercial brick and mortar banks that you pass on the way to wherever you go.

Suppose that when you begin your dental career that you will have to check a box like..

If you ask a group of doctors the most important aspect of a practice transition, the majority will point to the purchase price. Too few doctors realize that the other terms of the sale have a dramatic financial impact on the final sales price. To achieve a successful transition, buyers and sellers must work out […]

I was recently asked to serve on the “sustainability task force” at my church. Many organizations are asking members and constituents to sit down and focus on what factors may influence the long-term survivability of their organizations, and to make plans and recommendations to deal with those issues. This trend is not so much about […]

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 […]

Never has there been a time when retirees need good strategies to safeguard retirement income throughout a long retirement. The combination of increased life expectancy and near-zero income creates the need for a new retirement thought process. Currently, financial planners use a paradigm of “safe withdrawal rates” and “expected returns” for different allocations of stocks, […]

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 […]

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 […]

The DENTAL PROFESSION is not exempt from unexpected death or disability. What makes these unfortunate events even more tragic is when a doctor is not prepared. This column does not address the proper practice transition under death or disability, but focuses on how a complete estate plan will assure wealth preservation for you and your loved […]