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Tips for Managing Your Team When Acquiring a Dental Practice

When you purchase a dental practice, you aren’t just responsible for the building and equipment, but you also have a big role to play in making sure that new and existing team members come together smoothly. This can be a delicate process and quite difficult to navigate on your own, but there are a few tips you can follow to make everyone’s lives a lot easier. Value Your Acquired Team Members...Read More

The Business Side of Veterinary Medicine – Theft & Embezzlement

Experts estimate that more than 70 percent of veterinarians are embezzled with an average loss of $200,000. But, because the embezzlers often steal small amounts of money over many years, the thief is never noticed. The US chamber of commerce estimated that 75 percent of employees steal from their workplace and that most do so repeatedly. A majority of people, if given an opportunity, will...Read More

The Business Side of Dentistry – Theft and Embezzlement

By Kevin Brady, Practice Transition Advisor Experts estimate that more than 40 percent of dentists are embezzled with an average loss of $50,000. But, because the embezzlers often steal small amounts of money over many years, the thief is never noticed. The US chamber of commerce estimated that 75 percent of employees steal from their workplace and that most do so repeatedly. A majority of...Read More

3 Reasons to Sell your Practice While the Tides are High

Timing is everything.  If you would have invested $1,000 in Nike stock at its initial public offering in 1980, your investment would be worth over $190,000 today.  The same can be said for many other stocks or investments.  You see, the tides of the economy ebb and flow.  But how does that relate to your veterinary practice? We have been experiencing a perfect storm of sorts over the past...Read More

When You Should Think About Selling Your Practice

There are many reasons why veterinary practices are put up for sale.  Some of the more common reasons actually have little to do with the practice’s general performance.  For example, many veterinarians discover that they need to sell for health reasons or personal concerns, such as divorce or partnership issues.  While a business downturn might prompt many veterinarians to sell, economic...Read More