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Thursday, April 25th, 2013 | by ADS - Practice Transitions Made Perfect (TM)

Merging a Dental Practice Basics

Nowadays you can almost assume that most dentists will have to go through the rigor of buying and selling a dental practice. Dental professionals have gained significant benefits from ADS specialists who are interested in transitioning or merging a dental practice. These specialists can also help to manage a practice and improve the value of a practice. If your company wants a professional transaction, the ADS Network of Specialists will be sure to provide a place.

For Buyers or Sellers looking to Merge With Another Practice

There are many aspects when merging a dental practice. Many dentists choose to merge dental practices to reduce expenses, considering retirement, want more free time, or to add a specialist to their service offerings. Some common types of mergers can include associateships and partnerships. After you know what you are looking for then the next step would be effectively executing the merger.

Associateships can be complicated, but it requires that a contract be put together. Our professionals can help associates understand the process and the restrictions associated with this type of buying situation. Working conditions can be evaluated and procedures can be assessed to determine if the associateship is mutually beneficial to all parties involved.

Partnerships are typically easy to obtain. The only downside to partnerships is they are difficult to get out of if the partnership goes awry. Consultants can help you make plans if partnerships happen to go awry.

Mergers can include combining practices with a colleague in the medical industry or it could just mean a shared equipment merger. Consultants can also help create a positive outcome for the seller, buyer, and the patients in a dental practice. An ADS specialist will handle the entire process and ensure a smooth transition.

Practice management compatibility is another aspect of the merger process that many times is overlooked. Consider a merger like a union between to entities. Make sure your philosophies about running a dental office are aligned. This will help reduce arguments in the future.

All aspects of the merger should be shared with employees, partners, associates, and patients. It is always recommended that you work with a dental practice transition specialist if you are having difficulty formulating your plans. A management consultant can help sellers navigate the process and ensure that the merger can occur without compromising patient care or employee satisfaction. With minimal distractions, mergers will be looked upon favorably.

Merging a dental practice can be daunting, but it does not have to be impossible. An ADS specialist can make the transition smoother and free of significant strife. Consider hiring some of our specialists for a thriving and successful dental practice able to handle all sorts any roadblocks.