If you are a solo owner dentist looking to transition their practice, private dental practice services keep the process simple. As part of Group Dentistry Now’s dental industry services, transition specialists provide expertise during each phase of transition.
What is Practice Transition?
Practice transitions are often misunderstood as selling off a dental practice and retiring. But this is not the case!
A dental practice transition is a process of including another provider into a dental office with the understanding of sharing or transferring ownership. Transferring ownership of the business can even be at some point in the future for an eventual, not immediate, exit strategy for a solo owner dentist.
When deciding on a dental practice transition, consider the following:
- Dentistry career goals
- Ideal work-life balance
- Feelings about mentoring
Defining motivation and goals help you decide on how you want to transition out of your dental practice and who you want to partner with. Contact Group Dentistry Now with questions about personalizing your transition.
Transitioning Private Dental Practice Services
Each solo owner dentist will have a different practice transition experience based on the relationship between the owner and the associate. However, all gradual ownership changes happen with transitioning private dental practices services.
The following resources help with transitioning a private dental practice:
- JoinDSO.com (our DSO transition search engine) finds the right Dental Support Organization to affiliate with
- A phone call with a DSO practice transition specialists can assist you with your unique situation
- Dental practice valuation also begins with a phone call to a practice valuation specialist
- Find the best DSO partner when looking to retire, stay on, and work for a DSO
Email firstname.lastname@example.org to schedule a call with a DSO practice transition specialist.
Transitioning begins when a solo owner dentist meets with Group Dentistry Now practice transition specialists to make preparations. Through this first phase, specialists review goals related to a transition and create an individualized plan.
The second phase involves contacting potential associates and conducting interviews. The relationship between solo owner dentists and the associate are critical. Often there is a long period of mentorship between the two before transitioning the private dental practice.
The last phase goes over a plan for practice valuation, tax planning, and so on. Our transitioning private dental practice services ensure there is enough time to finalize any documents and strategies required to transfer ownership.
The advice from Group Dentistry Now experts are invaluable in implementing a plan for emotional and financial success for solo owner dentists. Set your dental practice up for success for years to come with private practice services.
Start Planning with Private Dental Practice Services
Group Dentistry Now specialists are committed to providing solo owner dentists with effortless ownership transitions. Private dental practice services will lend expertise in managing dental practices, associate integration, legal documentation, and dental support organization (DSO) connections.
Call 917.341.8490 to discuss private dental practice services with an experienced transition advisor.
Fill out the form below to contact a specialist about transitioning private dental practice services.