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Practice Profile: 1500+ Patients Need You in this 4-op Practice

Posted by Betsy Krekling, ADA Advisor on 10/15/21 8:45 AM

Have you thought about building your ideal practice – but don’t want to start from scratch?

Check out this solid 4-operatory practice with a loyal patient following and plenty of room to grow! The seller is willing to sell for less than 20% of the yearly gross production and will entertain any offers. This would be an ideal first or satellite practice.

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Topics: practice profiles

Dentists on FIRE:  How 2 Dentists Saved $1 Million and Became Debt Free in 8 Years

Posted by Bill Robinson, ADAPT President & CEO on 10/13/21 7:15 AM

I grew up spending my summers at my grandparents’ farm in Sidney, Illinois – population 973. (I was related to 846 of them.) So I felt quite comfortable as I drove past cornfields for the 20 miles from the interstate highway to my destination about two hours from Chicago. I was going to visit a couple of ADA Practice Transitions customers to learn why they had chosen to practice in a small Illinois town.

Eight years ago, this husband-and-wife pair of dentists purchased a practice in a small rural town. A year later, they opened a second practice in a similar town about nine miles away. They share their time between the two practices. One works three and the other four days a week to give them time to raise their two young children. Even though they are both still under 40 years old, they signed up with ADAPT to sell their practices to the right buyer. When I asked what was prompting them to sell, they said, “Have you ever heard of FIRE?”

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Topics: Real Talk

Watch: How to Make Your Practice More Appealing

You’ve worked hard to build a great practice — how can you make it stand out in a competitive market?

Last week, I spoke to a group of Florida dentists about making their practices more appealing to potential buyers and associates. During this webinar, I shared tips to help your practice shine.

Watch the recording to learn:

  • What younger dentists are looking for in a practice
  • Small things you can do right now to make your practice show better
  • Longer-term strategies to prepare for an eventual sale
  • How to attract the right buyer for your practice and patients
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Topics: coffee talks

Practice Profile: Busy Associateship with a Smooth Path to Partnership

Posted by Betsy Krekling, ADA Advisor on 10/8/21 8:15 AM

Looking for an associateship with a clear path to partnership? Join this busy 6-operatory practice to launch your successful future! For over 40 years, the dentists and five hygienists at this practice have emphasized preventive care, nurturing strong ties with the local community and building lasting patient relationships. Now, the retiring senior doctor in this father-son practice is looking for someone committed to carrying on those lasting relationships.

The fast-paced practice is profitable, with 40% fee-for-service patients. Dedicated staff – including three with more than 25 years of service – are eager to help you succeed. The retiring doctor says that working in this practice is “a gratifying and rewarding experience, with a high level of appreciation from patients and a very pleasant working environment.”

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Topics: practice profiles

What Went Wrong: The Quality of Care Wasn’t Up to My Standard

When you’re considering buying or joining a practice, there’s a lot on your plate! You’re reviewing financials, insurance mix, schedules, local competition… the list goes on. 

At ADAPT, we talk a lot about how important philosophy of care is for making successful matches. However, another element is just as crucial: quality of care.  

Every dentist talks about delivering the highest standard of care. And while there are multiple ways to get a great result, that “great result” can look different to each dentist.  

Let’s examine what went wrong when a buyer discovered she strove for a higher standard than the seller.

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Topics: what went wrong, Real Talk

Practice Profile: Successful, Fun-loving Office with Mentorship

Posted by Betsy Krekling, ADA Advisor on 10/1/21 7:15 AM
Want to buy a successful, well-established practice with a fun-loving team? Would you appreciate some hands-on mentorship from the selling owners? 
 
If you are looking for a quality private practice supported by a fun, professional staff, check out this 5-operatory office in suburban Chicago! It has been part of the community for 30 years, steadily growing through word-of-mouth referrals by patients who appreciate the quality work and comfortable atmosphere. 
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Topics: practice profiles

Non-Competes Are Irrelevant (In a Perfect World)

Posted by Bill Robinson, ADAPT President & CEO on 9/29/21 8:00 AM

It seems nearly every dentist knows someone with a similar story: an associate who “came into my practice, soaked up all my knowledge, then opened a practice across the street and took half my patients.”

Such experiences are why non-compete clauses have become almost standard in dental associate employment agreements. For those of you who may not know, a non-compete clause is a legally binding agreement where an employee is prevented from starting a similar business or working for a competitor for a specified period of time after leaving an employer. In dentistry, it also often includes a geographic restriction.

At ADAPT, we hear a lot about non-competes as our members consider changing jobs. These clauses – often overlooked by incoming associates during contract negotiations – can limit a dentist’s future flexibility.

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Topics: Real Talk

Transition Tale: Where Quality of Care Matters Most

Posted by Bree Simmers on 9/27/21 7:30 AM

As Dr. Ancy Verdier finished up his periodontics residency at Tufts University, he — like many younger dentists — looked for associateships in the big city. He wanted to be near family in his hometown of Scarsdale, NY but assumed he had to be in Manhattan to practice the kind of dentistry he loved. 

Dr. Verdier was soon working at group practices in Manhattan and the Hamptons, building a great reputation and treating celebrity clients. He even built his own practice from scratch in the Hamptons while still working in other practices and teaching.

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Topics: transition tales

Practice Profile: Grow this Low-Overhead Practice with No Competition

Posted by Betsy Krekling, ADA Advisor on 9/24/21 8:15 AM

Want to buy a practice where you can be busy and productive from your very first day? 1,800+ active patients and two long-term staff are eager to meet the new owner of this busy 3-operatory, small-town practice! This is a great opportunity to buy your first practice or a ready-made satellite practice.

The entire parish has only four dentists serving a population of 14,000. Three of those dentists are over the age of 55. This practice currently refers out all perio and no one does implants or molar endo within 50 miles. That means there’s ample opportunity for you to grow this practice to meet a real need for bread-and-butter dentistry.

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Topics: practice profiles

No Stupid Questions: Why (and When) Should I Get a Practice Valuation?

Posted by Betsy Krekling, ADA Advisor on 9/22/21 7:15 AM

Welcome to No Stupid Questions, our new Real Talk series in which we bring in practice transitions experts to answer your most pressing questions. Have a question for our experts? Ask it in the comments below!

For today’s question, we reached out to Chris Mayer of The Heimat Group, ADAPT's trusted transactions partner. Chris holds the Chartered Financial Analyst designation and has experience valuing dental practices (and other businesses) prior to mergers or acquisitions. Chris graduated with a finance degree from the University of Wisconsin-Madison School of Business where he was a member of the applied equity market research program specializing in fundamental analysis, equity valuation, and market research. During his University of Wisconsin-Madison undergraduate program, Chris was selected to attend the Otto Beischeim School of Management in Vallendar, Germany. He also attended the University of Leipzig, Germany where he worked on his Masters in Finance & Economics.

Question: Why and when should I get a practice valuation? And what is a valuation, exactly?

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Topics: Real Talk, No Stupid Questions

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