Dentists buying a practice often get caught up in the state of the equipment. But they shouldn’t, because that rarely matters to the purchase. Here’s why.
Category Archives: Practice Purchase Analysis
Eighty percent, that’s the goal.
When you’re buying a dental practice, Your treatment philosophy and that of the seller should match up well—even if it’s not 100%.
Why is that? There are two reasons: one is qualitative, all about what kind of dentist you want to be; the other is mercenary, all about collections.
A two-fer! In this blog post, I give some advice to dentists who will become business owners after buying a practice. What are the habits you can cultivate to help your business stay on track?
And in the video (click through to watch), I tackle a related topic. If you’re looking at a dental practice to buy, there are plenty of numbers and hard data to look at to assess the health of the practice. But outside of the quantitative data, what about the qualitative aspects? What should you be looking at to judge whether a practice is the right one for you to buy? I’ve got three business habits that a practice should exhibit to let you know it’s worth your consideration.
When you’re looking at offices that you’ll potentially buy, let the supply costs be your canary in the coal mine. How they manage their supplies and labs may be an indication as to how well, or poorly, the office is managed in general.
On average, a dental practice owner in the U.S. makes $335,207 per year.
Now hold on, don’t leave just yet! As with other average numbers we’ve talked about, the answer without context isn’t really an answer at all. So let’s dig into this one. How much can a dental practice owner expect to make?