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Practice Profile: Successful, Turnkey, and Poised to Grow

Posted by Betsy Krekling, ADA Advisor on 8/5/22 9:21 AM

Looking for a successful, turnkey practice with room to grow in a great community?

Buy this primarily fee-for-service practice where personal service and quality are the rule. The 3-operatory family practice has served this northwestern New Jersey town since 1970, building patient relationships that span generations.

Here, you’ll work with a capable, motivated team to practice the full gamut of general dentistry, including restorative, endodontics, implant restoration, oral surgery, fixed and removable prosthodontics, and more. The staff firmly believe in customizing treatment to each patient’s needs and desires. The practice embodies integrity, quality, and compassion.

Strong policies have made this practice a success. The practice enjoys a 99% collection rate and just 60% overhead, with no Medicare or capitation insurance plans. Digital records and radiographs make record-keeping easy.

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Topics: practice profiles

Practice Profile: High-Tech Associateship with Clear Path to Ownership

Posted by Betsy Krekling, ADA Advisor on 7/29/22 7:45 AM

This 6-operatory family practice has served Milwaukee patients for more than 100 years! The senior doctor seeks an associate who may want to buy in the next three to five years. In working with this dentist you’ll benefit from hands-on mentorship around the art, science, and business of dentistry from a lecturing clinician eager to teach the right person.

The practice provides comprehensive quality care to patients of all ages and offers upgradeable dentistry from dentures, mini-implant overdentures, implant overdentures and "snap-on dentures" to bar overdentures. They also provide hybrids and fixed bridges on implants as well as all aspects of general dentistry. The goal is to provide a lifelong dental home to local patients. The doctor performs dynamic treatment planning so that patients can remain actively involved in their dental care throughout their lives.

The owner explains, “We are always looking to expand our offerings to our patients. While we offer comprehensive implant and reconstructive dentistry, we no longer provide orthodontics, which would be nice to add back. As well, there is opportunity to add CAD/CAM or other technologies in the future as the ROI demonstrates.”

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Topics: practice profiles

Now Matching Dentists in All Recognized Dental Specialties, Nationwide

Since the American Dental Association launched ADA Practice Transitions (ADAPT), we have helped general dentists across the country buy and sell practices, hire associates, and find associateships. More than 7,500 dentists have joined the ADAPT platform to find their match.

Today, we’re excited to announce that ADAPT is now matching dentists in all recognized dental specialties! That means that whether you’re trying to join a periodontic practice in Pennsylvania or hire a pediatric dentist in California, ADAPT can help. No matter your dental specialty or state, we can help you find the right dentist or practice for your goals.

How we match dentists and practices

Our team of ADA Advisors works hard to match dentists with a shared philosophy of care. Research shows that these matches are more successful in the long run, for everyone involved.

A doctor’s philosophy of care encompasses their mission, vision, and values — everything that informs their approach to dentistry. When two dentists share a similar philosophy of care, practice transitions are generally more successful, as there’s no conflict. Patients and staff are happier and more likely to stick around. The dentists work well together. In the case of a sale, the buyer’s similar approach helps retain patients and staff. 

When you work with ADAPT, you start by creating a free profile. Our online platform walks you through a series of questions about your background, experience, preferences, and goals. You can also add your specialty training, certifications, or goals.

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How to Become a Team Leader When You’re New to the Practice

As the new associate in a practice, you’re in a tricky spot. You’re the new kid. You don’t know how the practice flows, when staff typically show up, or where to get the best local coffee. And you certainly don’t know any of the patients!

Despite these challenges, you need to immediately establish yourself as a leader so you can effectively work with your auxiliaries to deliver consistent, quality care to your patients. 

So how can you make the shift from new associate to team leader? Read on for a few tips. 

Think like a dentist, not a student

As a student, you were expected to show up, do your homework, ask thoughtful questions, and demonstrate that you were learning. Your professors guided your path and prompted every step. Your dental school clinic was likely run by the staff. And since they remained a constant fixture as you rotated through, and they controlled much of the activity in the clinic, you likely deferred to their judgment. 

Now that you’re in practice, that hierarchy has flipped. You’re in charge, both in your career and in the operatory. You need to be decisive and respectful with your actions. Your auxiliaries should defer to you when treating patients.

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Topics: incoming, Real Talk

Starting an Associateship? Own the Operatory from Day One!

Ready to start a new asssociateship — maybe even your first associateship after dental school?

It’s nerve-wracking starting any new job, let alone the first one as a new doctor. 

However, your patients and staff need to know you’re in control, right from the beginning. You must project confidence to gain their trust and ensure treatment acceptance. 

And even if you’re shaking in your shoes, remember: you worked hard to get here and you are ready

Your dental school granted you a degree based on your work.

Your state has licensed you.

The practice owner hired you because they believe in you and your abilities. 

Now it’s time to demonstrate all that to your patients. 

Here are five ways to get off on the right foot and take ownership of the operatory.

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Topics: incoming, Real Talk

Practice Profile: Lucrative, Spacious, Fee-for-Service on the Gulf Coast

Posted by Betsy Krekling, ADA Advisor on 7/1/22 7:45 AM

Check out this spacious 100% fee-for-service practice with high income potential, low cost of living, and a comfortable lifestyle!

Loyal patients appreciate the full range of services: cosmetic dentistry, periodontal therapy/surgery, oral surgery, Invisalign, and much more. Bringing implant placement in house offers a huge potential growth area to increase production, if you have the skills and interest! 

The practice is 100% FFS and over 50% of the patients have insurance. An in-office membership plan is very popular with patients and steers them away from PPO/DMO insurances — giving this practice a healthy bottom line.

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Topics: practice profiles

Your Checklist for a Successful First Week

It’s that time of year: dental students are graduating and ready to step into their first associateships. Meanwhile, we continue to see lots of practice sales and hires to serve growing practices.

No matter the reason for the new doctor coming into the practice, how can you ensure a successful start? Here are some tips for building a plan and starting off on the right foot.   

Choose the right practice or person

A strong first week starts much earlier. Throughout the interview process, ask questions to make sure it’s a good fit. 

If you’re an incoming doctor, ask yourself, “Do I feel comfortable in the office? Can I handle the expected pace? What do I need to learn to be successful here?” (See: How to tell if that nice practice is right for you.)

If you’re hiring or selling, take steps to ensure that the incoming doctor shares a similar philosophy of care, or approach to dentistry, so they will seamlessly fit into the practice’s existing operations. During the interview process, review a week’s sample schedule together to make everyone shares expectations. Discuss a few cases to ensure you can respect each other’s decision-making and approach. (Remember, there can be many paths to a great result — but you must be able to trust and respect their work!)

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Topics: Real Talk

Practice Profile: Mentorship to Grow in a Nationally Renowned TMD/TMJ Therapy Practice

Posted by Betsy Krekling, ADA Advisor on 6/24/22 7:45 AM

Are you interested in TMD/TMJ therapy and looking for a wonderful opportunity with a great mentor? Buy this 100% fee-for-service practice with a national reputation for non-surgical treatment of TMD/craniofacial pain with orthodontic, airway management, and restorative components. 

All six operatories are updated with the latest technology, including CBCT, K7 jaw computer systems, Fontana Lightwalker hard/soft tissue laser, digital radiographs, paperless charts, digital scanners, electric handpieces, and intraoral cameras. The modern, free-standing brick dental office building has lots of windows for natural light. The 3,000-square-foot open concept office includes a welcoming reception area, consultation room, and employee lounge. An additional 1,000 square feet of space can be converted into two more operatories when you’re ready. And it’s all located on a busy thoroughfare near a residential area of Kansas City, Missouri. 

This practice is ideal for a dentist with 5 or more years of experience after dental school — someone interested in helping people by providing high-end dental services. As owner, you’ll make a good income without running from room to room. This niche practice has not accepted general dentistry patients and lacks a hygiene department. Additionally, all surgeries, implant placements, and endodontics cases are currently referred out. That gives the buyer options: you can continue to focus on the niche part of the practice, bring additional services in house, or build a high-end general dental practice that surrounds the TMD/TMJ specialty. Choose whatever suits your interests! Either way, the extremely knowledgeable clinical assistant who has been with the practice for more than 20 years will be by your side, ready to help the practice succeed.  

This unique practice is 100% fee for service, meaning that dental insurance discounting trends have no effect on the bottom line. The seller says, “This is a lane with little competition.”

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Topics: practice profiles

No Surprises: How to Prepare for a Smooth Practice Transition

I was recently on the Best Practices Show podcast with Kirk Behrendt. We had a great conversation about how to avoid unwanted surprises during the dental practice transition process. Listen in to our conversation or read on for some key points.

 

What to do before the letter of intent

The best way to avoid surprises is to do your homework.

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Topics: podcasts, Real Talk

Practice Profile: High-Tech Updated Office with a Perio Focus

Posted by Betsy Krekling, ADA Advisor on 6/17/22 7:00 AM

Buy this 5-operatory practice with an outstanding staff that’s eager to help you succeed. This high-tech practice focuses on family and cosmetic dentistry, with a strong periodontal program (including perio maintenance, surgery, and bone and soft tissue grafting), laser-assisted new attachment procedure (LANAP), implants, sleep apnea, and more. 

You’ll be taking over a highly respected office that's devoted to bringing the latest best practices to ensure patients’ overall health. The long-tenured staff is very knowledgable. And since the practice is currently open just four days a week, there’s room (and demand) to expand the schedule. 

The practice is located on a busy highway in Independence, Missouri for easy visibility. Inside, the open, peaceful atmosphere puts patients at ease. The updated space offers plenty of room, with a great flow through the sterilization area. Nearby, there’s plenty of retail, fast food, restaurants, a Sam’s Club, and a Costco. 

The education-focused seller routinely obtains 100+ hours of CE each year, and the practice uses the latest materials for pulp capping and root canal therapy. He works closely with local physicians to help patients improve their overall health, and is on staff at the local medical center. He is also active in organized dentistry. 

The seller is willing to provide mentorship to help the buyer build knowledge and relationships that will continue the practice’s high standards and reputation.

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Topics: practice profiles

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