Before you purchase or sell a practice, remember that there is sometimes a third party involved: the property owner. Whether the practice is in a freestanding building, in an office park, or shopping center,  your transition might involve the landlord.  What You Need to Know About Buying a Dental Practice   If you are buying a practice with a third-party landlord, review your lease with an eye toward creating an exit strategy. The landlord might request payment for the rest of the lease if you leave early or demand a  portion of the sales profit. When drawing up a contract ..read more

Portrait of beautiful young female dentist posing in dental clinic with arms crossed. Photo of Caucasian brown hair female dentist. She standing in her dentist office during the day with Toothy Smile. If you are planning to sell your dental practice for retirement, a move, or another personal reason, take the first step and determine its worth. Buyers place a high value on a strong patient base and strong predictors of future earnings, but there are many other valuation elements to consider.   Valuation models are complex; it is to your advantage to hire a dental broker with experience in ..read more

Planning ahead is always a smart idea, but what if tragedy changes everything? If you were suddenly  disabled or died, what would happen to your dental practice? Who could run it, value it, and sell it?  It’s not a topic people enjoy, but it’s necessary to consider the “what ifs” to minimize sudden financial loss in case of death or incapacity. Without an emergency exit plan, a practice may remain unsold for a long  period and its value may decrease. The ensuing chaos would leave an undue burden on family,  associates, and others who may not have access to accounts an ..read more

Buying a dental practice is perhaps one of the most monumental decisions you will ever make and it  represents a substantial financial investment. It is vital to work with a dental brokerage firm that  understands the dental field and the market in which you want to buy. Schiff Dental Brokerage has  represented hundreds of buyers and sellers, and we are confident we can help you.  Understand the Financial Information  Buying a practice may be exciting on many levels, but it really comes down to number-crunching. Our  dental brokers will evaluate the financial sta ..read more

Selling a dental practice can be a lengthy process. After all, you are not just selling a practice; you are selling a collection of assets. So there are many factors and moving parts that can affect the time it takes to sell your practice.   Sometimes, however, everything goes well and the dental practice sale goes smoothly. By working with an experienced dental broker – a specialist in dental-specific transactions – you should be able to avoid many of the common, time-consuming problems that can arise. Here are a few main factors that may impact the selling process.  Factor #1 ..read more

Whether you’re buying or selling a practice, asset allocation is a vital part of assessing the value of the business. Buying a practice is not just buying one thing: a practice. The IRS requires sellers to assign a  value to the many different items within the business that make it unique.   However, it isn’t just things like equipment and furniture; there are many invisible factors that set the asking price.  What Is Asset Allocation?  Every asset that is transferred during the sale of a dental practice is said to be allocated or accounted for. Asset allocation is an ..read more

The Ultimate Seller’s Guide to Sell a Dental Practice Selling a dental practice can be a complicated and emotional endeavor, as most practice owners have spent years owning and operating their practices and building relationships with patients and staff members. However, when equipped with accurate, data-driven knowledge and a team of specialized and caring professionals, you can set yourself up for a smooth transition out of practice ownership and into the next stage of your life. Who is your Buyer? These days, there are multiple types of buyers out there. For instance, a “traditional” buyer ..read more

Finding the right malpractice insurance provider can be complicated. The dental and allied health professionals we serve should be spending their time with their patients and care teams, not comparing insurance quotes. Berxi was born out of the idea that insurance for professionals and small businesses can and should be simpler. Part of Berkshire Hathaway Specialty Insurance, Berxi uses technology to make professional and small business insurance better.  Allied health and dental customers receive a fast, simple, and affordable experience, and the confidence of knowing that Berxi has the ..read more

Acquiring an existing dental practice is an exciting time, but can be a daunting task and a complicated endeavor. However, when equipped with accurate, data-driven knowledge and a team of specialized professionals, you can set yourself up for a rewarding career and a smooth transition process. This article aims to equip you with the tools and information necessary to purchase a dental practice. Location and Patient Demographics Location Location is one of the most difficult of all the things you can change after purchasing a dental practice. Therefore, choosing a dental practice that’s located ..read more

WEBINAR FOR DENTISTS LOOKING TO GO OUT OF NETWORK WITH PPOs: Andrew Schwartz CPA and dental consultant Shelley Renee will be presenting a live streamed webinar at noon ET on Friday December 9th for dental practice owners considering going out of network with insurance companies. A lot of dental practice owners are getting very frustrated with the way the relationship with PPOs has evolved over the years.  The most common complaints are large adjustments from their standard fees compounded by very modest annual increases to reimbursements. As we are all aware, Question 2 in Massachusetts p ..read more