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Wednesday, December 22nd, 2021 | by ADS Transitions

Buying a Dental Practice? Here Are Some Important Questions to Get Answered.


Buying a Dental Practice? Consider Asking These Questions First.

If you’ve decided to buy your own dental practice, there are some important questions you may want to consider asking the seller, once you’ve found a practice you’d like to purchase. It’s important to be prepared for what is ahead. Your best option is to surround yourself with an experienced team of professionals, in addition to your broker, like a CPA and attorney who specifically focuses on dental. These professionals will help you avoid overlooking important items.

Understand the basics.

However, even though you’ve hired a team for their expert assistance, as a buyer, it’s still critical to understand a few basic questions to ask. For example:

  • What is the overhead and profit margin in the practice?
  • What procedures are referred out?
  • How many active patients are there, and what is the average number of new patients per month?
  • Ask for the number of active patients when buying a dental practice

  • Are collections back on track in 2021, as compared to 2019, given that 2020 was an off year due to COVID?
  • Are you open to a transition period of a few weeks to complete treatment in progress and provide mentoring?

    Making the right decision

    Buying a dental practice is a complex process that involves far more than finding a seller and closing the deal. It’s important to have all the background and solid guidance. You want to find the right seller who has a practice that fits your dream.

    What a Practice Broker Can Do for You

    In most life situations, people use specialists to help them obtain the help they need. People go to their dentists to obtain dental care. They go to a medical doctor to obtain medical care. They seek the services of insurance agents to help design an insurance program to meet their needs. They seek the help […]

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    The Best Reasons to Own

    Today, if you are a dentist and do not own all or part of a practice, the question is not Why?, but Why not? Naturally, there are some compelling reasons why individuals choose not to own their own practice. However, the current environment makes the benefits of ownership so overwhelming, it is difficult to understand […]

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