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Essential Issues of Acquiring a Practice

Equipment in a dental office

Are you looking for a dental practice for sale? Investing in a dental practice can be a complicated endeavor. So, to help you deal with any issues that may arise when acquiring a practice, we have created the following guide:

Dig Deep into the Overall Health of the Dental Practice You Aim to Acquire

The deeper you can dig, the better. Before you make an investment, make it your priority to learn everything there is to know about the dental practice in question. Think of this process as an “Audit” of the demographics, workflow, charts, financial statements, and patient feedback. Here is a list of factors that you should analyze and assess before sealing the deal:

  • Procedure/Treatment Analysis
  • Patient Payment Habits and Methods
  • Technology Used
  • Assets and Liabilities
  • Digital Presence and Influence
  • Patient Metrics

Prioritize Cash Flow to Determine the Factors that are Impacting Positively or Negatively

The next all-important factor to consider when buying a dental practice is the cash flow. Money is the primary reason you are willing to invest a considerable amount in a dental practice. Therefore, you need to be sure that the investment is worth it. To gain information on the main sources of income, get clarity on the following:

  • Patient payment methods.
  • Confirm if you’ll be able to maintain the production drivers.
  • The procedures/treatments that generate the most income.

The main challenge here would be finding a profitable margin between the asking price and the ROI and making changes with the aim of improving the cash flow.

Get to Know Your Partner

When buying a dental practice, remember that you will inherit the success and the problems of your partners as well. In simpler words, the current owner of your dental practice can either hinder or help you get a profitable return on investment. Therefore, ask them the following questions:

  • Why do they want to sell their dental practice?
  • What is their working strategy?
  • What kind of approaches do they use with respect to all treatments?

Invest in a Dental Practice Today!

Here at CTC Associates, we specialize in offering unique and complex transitions of dental practices all across Wyoming, Idaho, Alaska, Hawaii, Utah, Colorado, Arizona, and New Mexico. So, whether you are interested in retiring, relocating, or are looking for a dental practice for sale, our professionals have got you covered. Contact us to schedule an appointment right away!

Posted on May 9, 2022
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File ID 48964351 | © Paul Vinten | Dreamstime.com

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