Understanding the Mystery of Buying a Dental Practice
Friday, June 16, 2023
7:30 AM – 9:00 AM PST
Location: Yakima 2
CE Credits: 1.5
Primary Audience(s): Dentist
The American Dentists' Dream should be to own a dental practice. In this session, you will learn why you should consider owning a dental practice sooner rather than later. Why delaying a purchase may cost you hundreds of thousands of dollars. How do you identify a good practice? What practices should you avoid? How do you find diamonds in the rough? Learn how to work with banks to get the best rate possible when buying a practice. Understanding industry ratios for practice management. What you should be doing right now to set yourself up for professional and financial success. Why you should use DSOs to develop your skills, but jump into ownership as soon as you are ready. Identify when you are ready to own. How to work with brokers to find the right practice and the right match for you. Bring your questions and appetite for practice management knowledge as we'll delve into everything from leases, staffing to financial ratios. A fun-filled session for the potential practice owners of the future.
Learning Objectives:
Understand why you should consider owning a practice.
How to prepare yourself today for practice ownership in the near future.
What are some of the challenges in today's market for practice owners.
The process of identifying, analyzing and purchasing a practice.
Pitfalls to avoid when acquiring a practice.
How not to reject a potentially great practice.
How to identify a diamond in the rough practice.
What are banks looking for in a buyer and in a practice?