We see embezzlement in the veterinary office all too often. The average embezzlement amount REPORTED is over $100,000 in a veterinary practice, and we know most is not reported or ever discovered. Please review the following tips to avoid embezzlement, as well as signs from employees to be aware of.
-Limit access to practice management software to make adjustments, and format software to...Read More
By Megan Urban, Practice Transition Consultant
We see embezzlement in the dental office all too often. The average embezzlement amount REPORTED is over $100,000 in a dental practice, and we know most is not reported or ever discovered. Please review the following tips to avoid embezzlement, as well as signs from employees to be aware of.
-Limit access to dental software to make adjustments,...Read More
By Megan Urban
The decisions you make now will impact you and your income today and in the future. We are here to assist you to make the best decisions for you and your family.
Gather your team of trusted advisors.
Start with your Transition Advisor and they can recommend dental-specific banks, attorneys, and CPAs to guide you every step of the way. We’ve done this many, many times, and want...Read More
Jim Vander Mey, CPA, ABI, is a Senior Veterinary Practice Broker with OMNI Practice Group, as well as a Certified Public Accountant. In this video, Jim explains the cost of waiting to buy a veterinary practice. You may be surprised how much money you could lose out on by waiting to buy, even in 2020, and why overpaying for a veterinary practice now can end up saving you $$$ in the long run....Read More
By Corey Young, DDS, MBA, ABI and Jen Bennett, OMNI Practice Group
Congratulations! You just achieved a major professional milestone in completing the purchase of your new practice.
There are many tasks that will require your immediate attention after closing, but one often overlooked item that is crucial to your transition is ensuring you retain the staff.
Here are some helpful tips...Read More
Steve Kikikis, Commercial Real Estate Broker and VP at OMNI Healthcare Real Estate has helped clients start-up and lease dental spaces for almost 15 years. What does the current market look like for dentists? Here is an update!
https://youtu.be/AATHBDgL088Video can’t be loaded because JavaScript is disabled: Commercial Real Estate Market Update (https://youtu.be/AATHBDgL088)
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By Jen Bennett, OMNI Practice Group
Congratulations! You just achieved a major professional milestone in completing the purchase of your new practice.
There are many tasks that will require your immediate attention after closing, but one often overlooked item that is crucial to your transition is ensuring you retain the staff.
Here are some helpful tips for you to consider:
The first thing you...Read More
By Michael Dinsio, MBA, Next Level Consultants
Clear objectives are key when going into a buyer-seller meeting. They can mean the difference between a smart purchase and a risky one.
The goal of any practice purchase is to eliminate as many risks of losing patients as possible. And that means having a plan. Before you meet with the seller or get on a call with the broker, write down your...Read More
Jim Vander Mey, CPA, ABI, and licensed commercial broker with OMNI Practice Group, explains to veterinarians the cost of waiting to own a practice and how buying a practice now should pay off.
https://youtu.be/EOzwGNNlilwVideo can’t be loaded because JavaScript is disabled: Buy a Veterinary Practice Now or Wait (https://youtu.be/EOzwGNNlilw)
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By Corey Young, DDS, MBA, AVI
I know. Running a business seems daunting. You just want to be a doctor and not have to worry about the rest. I understand. That said, it is wise to consider what is left on the table by being a career employee, or by waiting for that perfect practice to show up.
Let us consider a fictitious practice:
Overhead: 60%
Gross: $550,000
Net: $220,000
Acquisition...Read More
