2023 has a few things going for it. Who knows what will happen in the wider world, but in the world of dentistry, I’ve got some trends I’m looking forward to this year.
06
Jan
Jan
2023 is the best year for you to buy a dental practice. Well, let me back up and say, it COULD be the best year for it. Depending on you.
21
Dec
Dec
While the conventional wisdom out there says “go rural,” my first question is: “What do YOU want to buy?” While there is no right or wrong answer, I can help you think through the options and implications so you can make the right choice for you.
Ultimately, though, it’s about what will make you and your family happiest. Either way, there are some considerations to keep in mind.
Practice Purchase Analysis
What You Need to Know About Your Future Patients | Evaluating a Dental Practice to Buy
15
Dec
Dec
When buying a dental practice, the two most important things to know about your patients (before you own the practice, anyway) are AGE and GEOGRAPHY. Knowing just these two pieces of information can give you a massive heads-up about what kind of practice you’re stepping into.
08
Dec
Dec
Q: What is an ideal active patient count for dental practices?
A: There is not a definitive number! However, conventional wisdom says you should see an active patient count of ~900 patients for every $500,000 in collections.
That being said, active patient count is not as important as people think it is. At least, not on its own. Let’s dig into the context.
01
Dec
Dec
Q: How do I analyze production when buying a dental practice?
A: When reviewing office production, look into three categories: ratio of collections to production, hygiene production, and procedure production.
This breakdown, though seemingly simple, speaks a lot to your future in the practice and how well it aligns with your skillset.
Ownership
Dental Practice Ad Budgets Tell a Story You Need to Know | Being a Good Dental Practice Owner
17
Nov
Nov
A practice will generally spend between 1% and 4% of collections on advertising.
That being said, there’s a whole lot of context to consider for that average number to make sense. In this post and the accompanying video, I’ll give you that context.
03
Nov
Nov
To retain your patient base after a transition, there are two vital things you must do for the first several months. First, keep the staff. Second, maintain a similar clinical approach as the seller.
In this post and video, we’ll dive mostly into that second topic.
27
Oct
Oct
One of the most influential factors that lead to your success as a new owner won’t be the roadside visibility or advertising costs, but rather something, or should I say someone(s), on the inside: the existing staff members.
Practice Purchase Analysis
Why I Don’t Like Buying from Multi-practice Owners | Evaluating a Dental Practice Purchase
21
Oct
Oct
Q. Should I buy from a multi-practice owner?
A. In general, I recommend steering clear of any dental practice transition where the seller owns multiple locations for several reasons. In this post and the accompanying video, I dive into each of them.