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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, practice valuation

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 valuation

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

Practice Profile: Choose Your Preferred Path to Ownership in this Profitable, Efficient Fee-for-Service Practice

Posted by Betsy Krekling, ADA Advisor on 10/29/21 7:15 AM

Hit the ground running with this profitable fee-for-service practice! Choose your preferred route to ownership: Buy outright? Absolutely. Owner financed? Sure. Associate leading to partner? Yes. Reverse associate, where the seller works for you for up to 10 years? A great option! The seller is flexible on pricing, timing, and skill level and willing to mentor the right buyer to succeed. (He’s also happy to step away, if the buyer prefers.)

With 1,500 active patients, the practice is gaining an average of 25 new patients a month. The mix is about 60% private insurance and 40% cash. Nearly all aspects of general dentistry are done in-house, including implants and Invisalign. Only the really difficult specialty work is referred out. The efficient, ergonomic facility has five fully-equipped operatories, an air abrasion unit, three digital x-rays, and a panelipse.

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Topics: practice profiles

What Potential Capital Gains Changes Mean for Your Practice Sale: 4 Scenarios

Posted by Chris VanStraten, CPA on 10/27/21 8:00 AM

The proposed spending bill currently making its way through legislation brings with it some big changes to capital gains tax rates. What does this bill mean for dental practice owners looking to sell?

For nearly the past decade, the top tax rate on capital gains has remained steady at 20%; however, the proposed $3.5 trillion spending bill currently making its way through Congress includes substantial changes to capital gains tax rates that would significantly affect the tax burden for someone selling their dental practice. That may influence whether and when they want to sell.

Selling a practice has always been a complex decision that generates many previously unthought-of questions for practice owners. One of the most important being: What will the tax implications be from the sale?

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Topics: selling a practice, Real Talk

Practice Profile: Grow with Mentorship in this High-Tech, 6-Op Office

Posted by Betsy Krekling, ADA Advisor on 10/22/21 7:15 AM

This beautiful free-standing dental office has served the community for over 40 years and has endless opportunities for a buyer to grow! Six operatories are fully equipped with the latest technology including digital radiographs, intraoral cameras, and paperless charts.

Enjoy using the state-of-the-art equipment, including wall-mounted Zeiss Endodontic microscope, ACTEON 3D x-ray mounted with CEPH arm for orthodontic records, plus implant placement software. And it’s a fully paperless practice, using Patterson Eaglesoft practice software. The practice management system keeps things efficient and gives you a great foundation to grow the practice.

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Topics: practice profiles

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