Is this practice in an urban, suburban, or rural environment? Location could influence both future revenue streams and access to specific amenities you may require. This is particularly important if you have a specific lifestyle you wish to lead.
Businesses come in all shapes and sizes. If you have specific ideas about how much gross or net revenue you’d like the practice to be at before you buy, paying attention to current and future revenue streams will influence your purchasing decision.
There are several business models for dental practices, and they all have their pros and cons. Some practices are Fee for Service only, others mix FFS with PPOs and HMOs, and others rely on Medicaid for new patients and cash flow. It’s important that you understand these various business models and choose wisely.
There are many schools of thought and specializations in dentistry. It’s a practical choice to buy a practice that is already operating under the philosophy you subscribe to. This makes change in ownership easier on everyone — including your new patients.
Determining the change of control, or transition, is critical for a successful dental practice purchase. That’s why U.S. Dental Transitions works to ensure there’s a good fit between the selling dentist and the buying dentist. After you purchase the practice, how will you want to assume control? Sometimes, the selling doctor will stay on staff, working for the buying doctor for a period of time. There are other instances where the selling doctor walks away once the transaction is complete. Each has benefits and drawbacks.
Price is a major consideration when it comes to how much financing you qualify for. The criteria above will be what drives the decision based on the goals for your practice. Price should be used to screen out dental practices that may have otherwise been a fit if you cannot qualify for the required financing.
We have some excellent dental practices for sale right now. Visit our Dental Practice Listings page. If you do not see a practice that meets your specific needs, contact us and we’ll discuss finding a practice that is right for you.
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