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Before You Buy: The Financial Side of a Practice Transition

Posted by Bree Simmers on 6/9/20 8:45 AM

Last week's ADA Practice Transitions Coffee Talk webinar featured advice on preparing your finances for a practice purchase.

Rob Westhoven, VP and Director of Dental Banking for Androscoggin Bank, explained how banks approach practice sales, including several possible options. He also answered several great questions from attendees about how COVID-19 may change the equation. 

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Topics: purchase a practice, coffee talks

Big Decisions Demand Family Input: Your Guide to Starting the Conversation

Now is a great time to have some important conversations with your family about how your career affects your collective future. Most of you have never been allowed this kind of focused time to evaluate your true priorities as a family.  

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Topics: looking for a job, purchase a practice, selling a practice, expanding my practice

This Week Only: Sign Up for a Free 3-Month Trial of ADA Practice Transitions

Posted by Bree Simmers on 2/24/20 8:30 AM

ADA Practice Transitions will find you the right practice or dentist to help you take the next step in your dental career.

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Topics: looking for a job, purchase a practice, "find an associateship"

Build Your Dental Dream Home

Through ADA Practice Transitions, I work with many dentists who are looking to buy a dental practice. While it is tempting to search for the “perfect practice,” I ask dentists to keep an open mind and find a practice with a great foundation – one that you can transform into your very own dental dream home.

Just like with homeownership, you have two basic choices when it comes to dental practice ownership. You can build it new, or you can buy an existing practice. The reality is that it is often financially advantageous to find a practice – a fixer-upper, if you will – that you can adapt to fit your vision.

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Topics: incoming, purchase a practice

Transition Tales: 5 Lessons on the Cross-Country Journey to a Unicorn Practice

Posted by Bree Simmers on 2/4/20 9:00 AM

This is part of the Transition Tales & Truths series in which we discuss practice transitions with real dentists.

Patience is a virtue when trying to find the ideal practice. However, it is important that you use the waiting time to prepare for your next steps.

That was Dr. Jim’s message to his dental colleagues when he got in touch with ADA Practice Transitions to share his story.

Dr. Jim and his wife, Pam (names changed at their request), worked together as a team to navigate the practice transitions process. Over six years and a variety of experiences, they refined their idea of the “perfect practice” and wanted to share their lessons with other young dentists ready to forge a path.

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Topics: incoming dentist, purchase a practice, transition tales

Practice Profile: Fun Urban Practice, Small-Town Feel

Posted by Bree Simmers on 1/23/20 8:15 AM

Looking for a practice in a prime urban location with a small-town feel?

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Topics: purchase a practice, practice profiles

Transition Tales: Building a Career that Balances Business with Dentistry

Posted by Bree Simmers on 12/10/19 9:00 AM

This is part of the Transition Tales & Truths series in which we discuss practice transitions with real dentists.

Today’s Transition Tale comes from our friend and 2020 New Dentist Committee Vice Chair Dr. Daniel Hall. He wants to share his learnings with other dentists so hopefully they can find the right fit, the first time.

Dr. Hall got in touch with ADA Practice Transitions because he believes that ADAPT, a service created by the ADA, could have helped alleviate many of the obstacles he found during his journey to practice ownership.

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Topics: purchase a practice, transition tales

Practice Profile: Loyal Patient Base with a Fast Payback

Posted by Bree Simmers on 12/6/19 1:27 PM

This small-town practice prides itself on providing the gentlest of care at a reasonable price – but the collections very comfortably support a dentist and family.

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Topics: purchase a practice, practice profiles

Practice Profile: A Nature-Lover's Setting

Posted by Bree Simmers on 12/3/19 9:15 AM

How would you like to see wildlife right outside your operatory picture window – even the occasional bear? If you love nature AND dentistry, this practice might be perfect for you.

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Topics: purchase a practice, practice profiles

What Went Wrong: I Overlooked the #1 Thing That Mattered Most

This is part of the “What Went Wrong Wednesdays” series, in which we explore common problems of practice transitions – and offer tips to help you avoid them.

At ADA Practice Transitions, we place a heavy emphasis on making sure incoming doctors share a similar philosophy of care as the practice owner. While it may not be immediately apparent, having a shared approach is critical to the success of your future career or retirement plan, even if you are planning to sell and walk away.

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Topics: owner dentist, retiring, purchase a practice, selling a practice, what went wrong

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