As the seller of a dental practice, there is much you must do to put your practice up for sale and market it to prospective buyers. Although your transition team will help you throughout the process, the responsibility of collecting relevant information and keeping it organized falls to you. There can be so much…Read More→
Category: N/L Transitions Blog
Selling a Fee for Service Practice
Before the 2008 recession, Dentists strived to have a fee-for-service practice. Just think about it, no write-offs for insurance, patients paid when treatment was completed and there were no headaches dealing with insurance companies. The most interaction with the insurance companies was when you submitted the insurance form for your patients. The patient was responsible…Read More→
What Happens to Receivables After a Practice Transition
When a practice is being purchased, what happens to the accounts receivables? Typically, the seller retains the receivables. Who will collect them? What will happen is that the staff of the practice will continue to collect them, just as they did when the seller was the owner of the practice. The collection process has a…Read More→
Case Study: Waiting Too Long To Sell Your Practice
Dr. S is in the process of selling his General Dentistry practice but seems to be having issues with the market assessment of his practice, and the proposed asking price which was suggested. Dr. S has been in practice for 35 years, practicing cosmetic and restorative dentistry. It was always Dr. S’s plan to sell…Read More→
Tips For Easier Transitioning From Your Dental Practice
More dentists have chosen to retire or sell their practices with the aftereffects of CoVid 19 and changes in practice protocols. There are usually no likely specific rules that apply to every seller, but you may want to consider thinking out of the box to have a successful dental transition. Being receptive to more…Read More→
Essential Considerations in Buying A Dental Practice
Although the world anxiously waits to return to some form of new normal, businesses must thrive, including buying a dental practice. The good news is that the dental practice market hasn’t been affected at all, and it remains higher than ever. According to dental industry research, there is a 60% surge in purchases over the…Read More→
Important Valuation Methods When Selling Your Dental Practice
While CoVid 19 has impacted dental practices, many or most have begun the rover process over the last six months. Although your revenue may have declined in 2020, there is no reason to prolong your practice transition. So, what methods are utilized when assessing the value of your practice? The Net Asset Valuation Method…Read More→
A Simple Dental Business Selling Guideline
As a dental practice owner, you must let go of your practice at one time or another. This is why, regardless of what stage you are in life, having plans to sell should always be in the pipeline. Even without the negative impact of Covid 19, you would still have a sales proposal at the…Read More→
Dental Transition Options: Reinventing Retirement
More dentists are approaching retirement with a different mindset. It’s no longer all or nothing: you can give up total control of running your practice but remain in the game, and on your terms. When you’re ready to step back but not actually ready to sell, there are two transition scenarios that many dentists have…Read More→