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→
Tag: dental cpa
Seller Wants to Delay Closing due to PPP2-What Does a Buyer Do?
It’s fall 2020, and you have found a practice that checks just about every one of your wish list boxes. You have engaged professionals to assist you with the due diligence, nailed down your lender for the loan, negotiated a new favorable lease with the landlord, and have the closing date nailed down as well…Read More→
10 Myths About Dental Practice Accounts Receivable
In the course of my career, I’ve advised many new buyers as they navigated purchasing a dental practice. Typically A/R is not included in the overall purchase price, and rather is a separate value agreed upon by both parties. How much do you know about what you’re agreeing to? Below I’ve highlighted some common myths…Read More→
2018 townie mtg presentation – buying a dental practice-there more to it than price-part II- Buyins\Buyouts\Mergers & Special Situations – Part VII
Next up we’ll dive into practice mergers. This is a very exciting topic for me because the practice merger is probably one of the BEST investments an existing practice can make with likely the BEST ROI of all practice growth strategies. That’s my opinion anyway. Now, a “merger” is usually seen in three different forms:…Read More→
Navigating Associate Contracts for New Dentists
When new dentists join a practice as an associate, they should get used to signing their name. Associate contracts require careful review and often involve several provisions, like employment, compensation, time off, non-competes, and more. When you’re just starting your career, how do you know whether these items are in your favor? Read on for…Read More→
How to Choose a Buyer Rep When Purchasing a Dental Practice
Choosing a buyer representative when you decide to purchase a dental practice is an important decision. Who you choose should first and foremost be an industry expert and help you identify and sort out the best opportunities for your situation. First Things First: Why Do I Need a Buyer Rep? Are you considering buying your…Read More→
Buying a Dental Practice, There’s More To It Than Price-Part III: Buyins/Buyouts/Mergers & Special Situations
Recap from Townie 2018 Presentation Blog #2 talked about those “special” situation practices like the fixer-upper, the recent start-up, the refurbished practice and the vacant space practice. I wanted to share two actual case studies with you, one with the recent start-up and the other with the fixer-upper. CASE STUDY #1 Let’s start with the recent…Read More→
The Importance of Buyer Rep Planning – Post Sale
Most of the time when we get engaged to represent a buyer that’s purchasing or buying into a practice, the majority of our work is during the process itself. However, we do include a service that consists of post-closing income tax planning as it relates to the actual transaction itself that some buyers choose not…Read More→
It’s Official: Dentists Have The Best Job Ever
As dentists, you already know how much you enjoy your job. You take pride in your work, knowing that you help your patients achieve better overall wellness through a healthy smile. Now, the rest of the U.S. knows it, too. In January, U.S. News and World Report released their annual ranking of the 2017 Best…Read More→
How To Reduce Your Accounts Receivable
Studies have shown that accounts receivable (AR) in dental practices is highest between January and April. If your practice sees higher than usual AR early in the year, make it your priority to reduce this number later throughout the year. Carrying a balance on your accounts receivable is a common practice with any business, and especially…Read More→