If you are considering retiring and selling your dental practice, it is important to make sure you receive top value for your life's work. Before putting your practice on the market, the following steps can help to optimize its value and secure your financial security.
Upgrade Your OfficeWhile the bottom line is...
One of the most heavily negotiated and litigated aspects of a lease is the tenant’s obligation to pay rent. Thousands of dollars are on the line and rent payments can drastically impact a practice’s cash flow. In this second part of the series, Matt LaMaster discusses the obligation to pay rent, how it’s calculated,...
Besides employees and staffing, the highest expense in a dental practice is routinely the cost associated with the office real estate. That’s true whether you lease or own the office space. This 7 part series focuses on the common traps and negotiating points in offices leases that most dental practices fail to take into...
For many dentists, owning their own practice is the ultimate goal with the dream of one day becoming their own boss and having the ability to master their own future. Thisseven part series focuses on several critical steps...
Technological innovation has had a dramatic impact on the quality of dental care, particularly digital dentistry which allows traditional treatments to be administered more expediently and gently. The latter part of that equation is crucial since many patients do not go to the dentist out of...
For recent graduates of dental school, it is crucial to get hands on experience, and earn a living, especially given the fact the student loans will need to be paid off. While some new dentists may have the business savvy and access to financing needed to launch their...
Today, there are a number of challenges related to owning a dental practice not the least of which is lower reimbursements from managed care. In addition, dentists must also contend with significant regulation and fierce competition from the corporate dental industry. Nonetheless, there are still opportunities for independent dentists to operate successful businesses.
This past week I negotiated a lease on behalf of an ophthalmologist and I wanted to share an essential but often overlooked lease provision, “Termination upon Death or Disability.” If a closely-held company is entering into a lease, the company needs to consider whether it can continue to operate if a critical owner or employee...
Here's some information for those dentists who are looking to finance their practice acquisition.
Background:
I was recently working with a dentist that was purchasing a practice and the accompanying real estate. The practice was in a medical condominium complex with other dental and medical providers. Originally, I was just asked to help the client clear...
I’ve heard the term “working interview” used often with dental and veterinarian practices. A “working interview” is when the practice/employer wants to observe the clinical or clerical skills of job applicants (dentists, dental hygienists, veterinarians, assistants) or their clerical staff (front office and billing staff) by actually seeing the applicant perform essential job duties...
