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Practice Profile: Build Your Dental Career with Top-Tier Tech and Training

Posted by Betsy Krekling, ADA Advisor on 12/3/21 8:15 AM

Join this practice for the best of everything: a well-established, beautiful office with all the amenities, state-of-the-art technology, and the opportunity for mentorship.

New grads are welcome! The senior doctors are willing to train and teach, as long as you’re interested in equity partnership within three or four years. This is a fabulous opportunity to learn while you establish yourself in a welcoming dental home. The owner asks is that you be willing to learn, become a part of the community, and have an entrepreneur’s spirit.

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Topics: practice profiles

More Than Meets the Eye: How Associate Pay Can Vary

Of course you love doing dentistry. And everyone is even happier when the pay is appropriate for the work that is done!

Yet I hear from far too many associates who don’t really understand how their pay is calculated — and owners who haven’t fully thought through how much their associates’ pay can vary.

It’s pretty easy to understand a straight salary, which is common for those working in public health, academia, or government agencies. 

It gets more complicated for those paid in whole or in part based on some percentage of their overall productivity in the office — which is the more common scenario for dentists employed in private practice or DSOs. In these cases, pay is typically based on total production, billable production, or total collections.

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Topics: "find an associateship", Real Talk, More than Meets the Eye

Comparing Two Cosmetic Practices: More than Meets the Eye

Five years into his dental career, Dr. Jerry has a very clear vision of his ideal practice. He has perfected his skills and is ready to buy. He knows he wants to stick to high-end cosmetic procedures. And he does NOT want to be beholden to any insurance companies for payment.

Now comes the hard part: finding the right practice. Since Dr. Jerry and his wife plan to relocate across the country to be near her family, he must rely on numbers to decide which practices are worth pursuing during his limited visit time.

Right now, he is torn between two practices.

Let’s look at some of the variable expenses against Dental Economics industry benchmarks to see what we can learn about these practices and which one may be a better fit for Dr. Jerry’s vision:

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Topics: Real Talk, More than Meets the Eye

Practice Profiles: 4 in Massachusetts

Posted by Betsy Krekling, ADA Advisor on 11/19/21 7:45 AM

We currently have a wealth of practices available in the Commonwealth of Massachusetts! If you're looking for an associateship, a purchase, or a hybrid associate-to-owner path, we have options. Check out a few of our spotlighted practices to get a taste for what’s available, including two in suburban settings, one with easy mountain access, and another that offers an oceanfront lifestyle!

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Topics: practice profiles

Don’t Ghost: How to Build a Strong Professional Reputation

Posted by Betsy Krekling, ADA Advisor on 11/17/21 8:30 AM

“It seemed like a great interview, but I never heard from him again.”

“She said she would let me know her next steps, but it’s been three weeks.”

I hear comments like this from owner dentists all too often! As an ADA Advisor, I suggest potential matches between practice owners (who are selling or hiring) and incoming dentists (who are buying or job hunting). Then I coach them through the process. 

Some of the younger dentists I work with defend their lack of response, saying they didn’t want to “lead on” a potential employer or seller. Or there was something they didn’t like about the practice — the dated décor, the commute, the owner themselves — and they don’t want to say so, for fear of being rude.

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Topics: Real Talk

Practice Profile: Grow this Busy Long Island Practice

Posted by Betsy Krekling, ADA Advisor on 11/12/21 8:45 AM

Take a look at this busy practice where you can immediately add to the bottom line. This 3-op practice is not currently open every day, nor does it do molar endodontics or implant placement — giving the buyer opportunities to add hours or services.

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Topics: practice profiles

No Stupid Questions: How Does Someone Determine What My Practice Is Worth?

Posted by Betsy Krekling, ADA Advisor on 11/10/21 8:45 AM

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Topics: Real Talk, No Stupid Questions

Watch: What's This Practice Actually Worth?

Practice valuation is an essential part of any sale. But do you know how to thoroughly evaluate a dental practice that's for sale? Are you ready to understand how a buyer will perceive your practice's value?

In this recent Dental Economics webinar, What's This Practice Actually Worth?, I joined Chris Mayer, Director of Mergers & Acquisitions at the Heimat Group, to explore practice valuations.

Watch the replay below to learn about the process and find out how to evaluate less tangible items to ensure you're choosing a practice that fits your lifestyle and practice approach.

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Topics: coffee talks, videos, Real Talk

Practice Profile: Busy Turn-Key Practice with a Small-Town Feel

Posted by Betsy Krekling, ADA Advisor on 11/5/21 8:15 AM

Looking for a busy turn-key practice with a fantastic opportunity to grow? Check out this third-generation, 7-operatory practice!

The seller’s grandfather built the handsome, freestanding, brick dental office in 1949. Located just a block off Main Street, there’s a municipal parking lot across the street and an adjacent driveway with ADA access. Another independent dental practice shares the building, which helps keep overhead lower.

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Topics: practice profiles

How to Build a Team for Your Successful Dental Practice Transition

Posted by Betsy Krekling, ADA Advisor on 11/3/21 7:45 AM

Are you staring at your to-do list, wondering how you can ever get through your practice transition?

You don’t have to go it alone. Build a team of professionals who can help you with the more technical or complex aspects of your transition. That will free up your time and energy to focus on the most important aspect of your transition: finding the right person to carry on your legacy or the right practice for your goals. (And we at ADA Practice Transitions (ADAPT) can help you with that part!)

In my work at ADAPT, I sometimes hear a dentist say that they want to save money by doing the legal themselves, just adjusting a colleague’s contract. Or maybe they plan to enlist their brother-in-law/cousin/neighbor’s best friend as their real estate broker. While I applaud that DIY attitude, it can lead to expensive mistakes, missed deadlines, and, ultimately, failed transactions.

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Topics: Real Talk

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