Colorado's leading dental practice transition consultant

Services Include Dental Acquisitions, Dental Practice Appraisals, Dental Practice Sales and Dental Practice StartupDental Practice QuestionsContact Colorado's top dental practice transition company.
 
 

Dental and Medical Practice Services

Practice Transitions and Acquisitions

The process of selling, merging or buying a dental or medical practice is an intricate process. It includes not only the financial and physical challenges but emotional ones as well. Professional Transition Strategies can help you navigate through this process because we have been there and we know the components needed for a smooth transition. We realize that every situation is unique; and we will help you decipher which option is best for you.

For the seller, options include:

  • Sell your practice and leave
  • Sell your practice, but continue to work as an associate, determine your own work schedule
  • Merge with another successful area practice
  • Keep your practice and use strategies from our practice analysis to increase revenues

For the buyer, we offer the following benefits:

  • Knowledge of dental competition and patient demographics in your location of interest
  • Expertise in Practice Appraisals to determine a fair market value
  • Financial assistance for purchase and upgrades
  • Real Estate License and knowledge to offer a complete transition service all in one place.

Practice Appraisals

It is important to establish the value of your dental or medical practice for a variety of reasons, such as:

  • Selling your practice
  • Second-opinion appraisal
  • Bringing an associate or partner into your business
  • Retirement or estate planning
  • Determine personal net worth
  • Prior to marriage; prenuptial agreements
  • To allow for fair disposition of assets for estate or disability purposes
  • Establishing a baseline for future business endeavors

There are many factors used in calculating the value of your practice. At Professional Transition Strategies, we use the most effective method of calculating your practice’s worth by looking at both attributes and challenges and how they have impacted the success of the practice. Some of the factors used include:

  • The practice’s location, visibility and  population of city or town
  • Type of dentistry, revenue sources,  active patient base
  • Growth potential
  • Patient attraction and retention rates
  • Reason for sale of practice
  • Projected patient and revenue retention after the sale
  • Condition and age of dental equipment based on wear and tear as well as technical advancement
  • Office décor and condition
  • Long term trends of the practice’s revenue and profit margin

Quarterly Practice Performance Survey

Our goal is to help make the practice more successful and more profitable.

We know that many doctors want input on the health of their practice, but in most cases they are not willing to pay the tens of thousands of dollars most consulting firms charge. Much like a dental checkup, we have found many practices would benefit greatly from a quarterly confidential practice performance survey, indicating strengths and weaknesses, and see how the practice compares to those of local peers and colleagues. Because we work closely with hundreds of local dental practices, we see what the top performing offices are doing to be successful. We offer suggestions and a plan to improve the performance of the practice. We perform this service without a contract or large financial outlay.

Some of the key indicators we focus on include:

  • Production, Adjustments, Collections, Accounts Receivable
  • Overhead %, Margin
  • Production/Hour, Margin/Hour
  • Visits, New Patients, Production/Visit, Margin/Visit
  • Hygiene Performance and Hygiene Efficiency
  • Income
  • Confidential Local Fee Survey
  • Confidential Local Salary Survey

From this data and analysis, we can find opportunities for improvement in:

  • Practice and Production Growth
  • Case Acceptance
  • Hygiene Department
  • Profit

Ultimately this Practice Performance Survey helps the doctor understand his/her practice better, and helps him/her become a stronger leader. Strong financial performance leads to improved annual income and a higher selling price when it comes time to consider transitioning the practice.

New-Practice Start-Up

There are two parts to starting a dental practice: dental knowledge and business knowledge. You have just spent several years studying with professors and dentists that have years of experience in teaching dentistry. Professional Transition Strategies is your knowledge source for the business side of your new practice. We know because we have been there! We will help you with decisions such as:

  • Finding the best financing option for your office and equipment.
  • Calculating how much money you will need to get started
  • Finding a prime office location
  • Hiring knowledgeable architects and contractors to help you transform your space to maximize profitability
  • Working with the right equipment and supply specialists to give you the best value and service
  • Recommending the best technical support for phone and computer systems to meet your needs and your budget
  • Offering assistance in hiring and training a productive and self motivating staff
  • Recommending branding and marketing strategies that will create active patient flow from the beginning

By building on our years of experience, you will save time and money getting your business on track. Our goal is to help you succeed.

We realize that everyone has different short term and long term goals. We will use our expertise to help you create a strategic plan to build your practice to meet your goals.

Member of the Following Professional Organizations

  Member of the American Dental Society        Metropolitan Denver Dental Society       Colorado Dental Association

  
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