Typically, the process always begins with a practice (e)valuation or market value appraisal. In each episode, we will feature guest experts from around the country to help provide you the most current information … This professional keeps the transition process … We’re here to help! As a result, we reinvented the choices that are typically available to dentists looking to transition their practices by creating Choice Transitions. Again, it’s a good idea to work with a lawyer with extensive experience in dental practice transitions. One consideration is transitioning your practice through either buying a new practice or selling your dental practice. Retiring or Transitioning My Dental Practice The Cirrus Team 2020-08-06T11:54:54-04:00 Are you planning to transition or sell your dental practice and retire within the next 5-10 years? Practice Transition Specialist; This individual, also known as a transition broker, helps owners manage the details of the sale or transfer of a dental practice. PRactice Consulting Transition your practice from average to extraordinary. How to Sell A Dental Practice. We, along with you, want to know what the dental practice is worth and what can be easily tweaked to … I’ve met with dentists who started down the road to … The author, based in Providence, RI, is a lawyer and lecturer who specializes in dental-practice transitions. Whether you want to sell a practice and leave, partner with another dentist to help carry the load, sell but stay on as an associate, or simply merge or affiliate with a larger practice or dental service organization in your area, Professional Transition Strategies will provide the services you need to make your transition successful. Practice Valuation; Practice-Transition-Specific Legal Representation; Tax Implications; Array Dental Group is committed to integrity in all things that we do. Telecommuting, virtual conferences, and online purchasing became the only way to maintain businesses. The experts at USDT have over 21 years of experience guiding dentists through the complexities of selling their practice. Moreover, the buyer is able to pay the practice overhead and debt service relative to the purchase price, as well as earn a significant income. In the event that you are in need of independent representation, in any or all of these areas, we can help. Throughout the nation, the work environment changed abruptly this year, fast forwarding technologic integration. DUE DILIGENCE WHILE TRANSITIONING A DENTAL PRACTICE. (855) 729-0185. info@dentaltransitiongroup.com. Ready or Not, the Next Era of Hygiene Practice Starts Now. We are registered brokers with several Dental Service Organizations throughout the nation, looking to bring you the best fit for your practice. Now that your professional and financial goals are met, which experts will you call upon to assist you in transitioning into retirement? Your practice is worth more than a fraction of your revenue. What They're Saying. We’ve developed relationships with several service providers who share our core values, and who will independently represent your interests … Preparation is necessary as you plan for dental retirement and the transition of your dental practice. If you are planning to acquire a dental practice, our loan … A practice transition is complex and dynamic, involving the personal financial status of both owner and associate, the wants and needs of both doctors and the economics of the practice. If you are interested in buying or selling a dental practice, we have all the resources you will need in order to be efficient and successful. Ronald Ehman, Partner, the Dental CPAs, … Remember, no other firm has brokers with career experience as an equipment specialist, a financial advisor and a dentist. Please feel free to contact us at 508 864-7758. Meet JoAnne Tanner, MBA. Transitioning Your New Dental Practice on and after Closing. Fortunately, the anxiety that stems from a professional transition can be minimized by adequate planning, prioritizing your professional and economic goals, … What should you be thinking about to ensure that your practice transition is a smooth one. He’s passionate about helping dentists like you to understand your goals, and create a solid action plan for achieving … Jim Clark, Benco Dental’s Head of Practice Transitions, has done it all. Transitioning or affiliating a dental practice is probably one of the biggest decisions any dentist will make during their entire career. We’ll start with an initial analysis of the numbers to ensure financial feasibility and then guide you through the financing, legal, and physical hurdles to keep you on track and focused … Preparing for transition Transitioning Your Dental Practice: Determining the Price and Value. Let us discuss with you all the options for engaging to represent you in this dental practice transition. learn more. There are so many variables that can factor into your decision about timing that you should call us so we can talk through them together! Whenever I hear that a dental professional is thinking about buying a practice or has just gone through with a purchase, the first question that springs to my mind is, Do you have a plan for transitioning the employees? Through proper planning you will find you can preserve and enhance the value … They can help you get started in your new practice on the right foot as well. 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