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 […]

Most dental offices are not large enough to have a full-time human resources employee. Often, the practitioner is often faced with filling that role, in addition to their clinical duties. Unfortunately, employment law is not on the curriculum at most dental schools, so creating an employee handbook can be challenging. Many dentists find themselves making […]

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 […]

Did you know 63 percent of social media users under the age of 35 feel online ratings are more important than any other endorsement? Even when it comes to word-of-mouth or personal referrals, your online presence can have a strong impact on gaining new patients. Getting the word out about the benefits of choosing your […]

Many dental offices are finding it harder than ever to find long-term (or even short-term) employees who are ready to work.

Using your practice as a Dental Assisting School The U.S. Bureau of Labor projects that employment of dental assistants will “grow 25% from 2012 to 2022.”1 You’ve probably already witnessed the growth and demand for quality-trained dental assistants. But have you ever considered how you could utilize your practice as a training facility? Depending on […]

It seems that many businesses and organizations are asking members to focus on what factors may influence the long-term survivability of their organizations and to make plans and recommendations to deal with those factors. The intent is not so much about organizational goals and mission statements as much as it is about the ability to […]

I’m sure we have all read a great deal of expert speculation about the future outcomes of the COVID-19 pandemic. While a variety of informed opinions have been presented, I think it’s unlikely that anyone knows what will happen as this year unfolds, so I’ll spare you any further conjecture. I will, however, share the […]

“No time like the present” has never been more appropriate than right now when it comes to protecting your practice from any form of an infection. And, while patient well-being is always first and foremost, there’s a secondary concern about an infection incident that can impact a practice – image and value. Anything that adversely […]

Over the past several months, WE HAVE HEARD A GREAT DEAL ABOUT CHANGE. Change in any aspect of our life often creates some level of stress. However, some of us actually look forward to change and view it as an opportunity. One thing that is an absolute certainty is that change will happen in all […]

WHAT THEY DIDN’T TEACH YOU IN DENTAL SCHOOL Most of us graduated from Dental school with little or no training in basic business principles. Some of us may have taken a year or two of business classes (as I did) and others may have even graduated with a business degree. Even then, there was usually […]

Dental practice buyers and sellers may think that a sale is complete when the sale agreement is signed, the check issued, and handshakes completed. However, a successful transition needs much more work. Since 1984, I have sold over 250 practices. With this experience, I developed a practice-transition checklist. Results include the following: • Less than […]

Earl M. Douglas, DDS, MBA, BVAL If you’re like most people, you want to sell your assets at  the highest price possible and buy assets at the lowest price possible, and that is how the market for any commodity is formed.  When a  buyer and seller finally agree on a price, we learn what something […]

“If you are a general dentist, the last thing you want is for your patients to know that you are looking to retire.” Recently a dear friend of mine was on “Master Chef.” This was someone who I’ve known for more than 25 years; we even help raise each other’s kids. Although I knew from […]

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

tudent loan debts, desire for work/life balance, and the benefits of a colleague in the office are among the many reasons more dentists are considering taking an associate dentist position. The trend is not limited to young practitioners. Many experienced practice owners are deciding to sell their practices and work as associates. They cash in […]

Dr. Joseph was a happy man when he sold his practice. His practice appeared to be merely “average” for the area. He got almost precisely his listing price, and not because he had a better location, newer equipment, or higher profit than many of his colleagues. The reason he got his price is because he […]

Author’s Note: I received an email not long ago from a dentist in my state regarding credit balances, or money owed patients. Here is the message. Names have been changed to keep identities private. “I don’t know if you remember me or not, but I worked with Dr. Smith several years ago, and I’m currently working […]

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 […]

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 […]

Dental practice acquisitions and sales require the RIGHT STRATEGY WITH SENSIBLE GUIDELINES to result in a successful transition. It is important to find the ideal practice to purchase, and to know that the practice has a sufficient cash flow to provide a good living and to service debt. It is vital to ensure that the terms and conditions […]

There is a need for employers to have appropriate protection in maintaining customer relationships after an employee leaves. In general, courts recognize this. The two basic types of restrictive covenants are “noncompete,” which precludes a former employee from working in the same business as the employer for a certain period of time, and “nonsolicitation,” which restricts […]

Not doing due diligence is not a good excuse for finding out poor decisions have been made. Too often, doctors interested in buying, selling, or transitioning a dental practice don’t look at all of the information they should to make correct decisions. My studies have shown that most doctors know what information they should obtain. […]

The emergence of women in dentistry has been a slow but steady phenomenon that has challenged many of us to examine our preconceptions and stereotypes of how women practice. Besides the many influences women are having on the clinical side of the profession, they also are impacting the management and transitioning of practices. Recently, Gretchen […]

According to recent ADA figures, only 6 percent of dentists in America today can comfortably retire at age 60. Such information is sobering and warrants the question: What measures are you taking to ensure the independence and freedom you desire upon retirement, particularly as you begin to approach retirement age? Most dentists are self-employed and […]