The latest installment of my new Q&A with dentists deals with practice acquisitions and the decision to purchase accounts receivable. Sellers typically want to unload A/R with the rest of the practice sale, and for good reason: it’s a clean transaction and a seamless transition for patients. Buyers of A/R need to do their due…Read More→
Tag: Practice Owner Tips
Why Real Estate Could Be Part Of Your Retirement Strategy
Dentists who are not yet ready to retire may want to consider owning their office building to their long-term retirement strategy. Real estate has historically been a solid investment for anyone looking to generate income on the side, and at a time when dental office lease rates are rising, why not become your own landlord?…Read More→
Buying A Dental Practice: Buyins/Buyouts & Mergers
Next up I’ll talk about the “non-traditional” general dentistry practice and how you need to approach those situations. What do I mean by “a non-traditional general dentistry practice”? I’m referring to general dentistry practices that have developed somewhat of a specialty niche that they focus on within their general dentistry practice. This could be services…Read More→
Dental Practice Exit Strategies: How to Choose the Right Goal
For many dentists, your practice means more than just a paycheck or a job. Your practice represents years of hard work, commitment, and sacrifices. There are decades of memories. That’s why selling your practice is such an emotional decision. When the sale price represents such a big piece of your life, you want to get…Read More→
Buying a Dental Practice Is About More Than Just Price
Are you considering buying a dental practice and aren’t sure where to start? In 2014, Naden/Lean Partner Tim Lott presented Part One of a seminar on “Buying a Dental Practice: It’s Not Just About the Price.” In it, he discussed financial due diligence, what information to ask for, how to conduct the office visit, and…Read More→
Tech Practice Investments
The modern dental practice is an efficient, patient-centered experience that seamlessly integrates technology into everyday processes and procedures. Does this sound like your dental office? Even if you answered yes, read on for suggestions on the best technology to invest in for a more productive, profitable dental practice – and how to make your equipment…Read More→
2015 PRACTICE FINANCIAL STATS COMMENTARY – WHAT’S CHANGED FROM FIVE YEARS AGO?
2015 PRACTICE FINANCIAL STATS COMMENTARY We’ve completed the process of compiling our dental practice financial statistics based upon 2014 & 2015 data and the results show very little change compared to five years ago. Remember, the US economy went through a downturn beginning in late 2008 which lasted probably through the majority of 2012. Therefore,…Read More→
Questions to Consider When Creating a 50/50 Partnership
While practicing in a partnership or group practice has its advantages, such as sharing management responsibilities, marketing duties and operational costs, there also can be a few drawbacks of a group practice. One of the biggest mistakes dentists make it not having a comprehensive agreement to manage the partnerships. If you are considering a 50/50…Read More→
The 9 Dos and Don’ts of Divorcing Your Business Partner
This is a guest blog from Melanie Glickson, ESQ. The dissolution of a business can be just as harrowing as divorcing your spouse. Business partners split up for any number of reasons. Sometimes one partner is not producing. This might be due to personal troubles, like addiction to drugs or alcohol, which leads a…Read More→