by omniadminSeptember 2, 2022 Practice Management, Practice Sales, Seller Articles, Selling a Practice0 comments
Settling Credits Before Listing Your Practice
By Jen Bennett, Practice Transition Specialist You’ve made the decision to sell your practice, and with that comes the to-do list of tasks that can often feel daunting. One important task that is often overlooked is settling patient credit balances. What are credit balances and where do they come from? In many cases, a patient will have a credit on their account when their insurance pays more...Read MoreEntrepreneurial Energy
By Corey Young, DDS, MBA, Practice Transition Specialist What defines entrepreneurial energy? According to David Lyons, PhD: “Entrepreneurial energy is the force that sustains the momentum and velocity of progression in the venture. Energy can rise through excitation/agitation and fall through decay of the energy as a result of predicaments or failures. Entrepreneurial energy is an...Read MoreAre You Ready to Sell?
Are You Ready to Sell By Megan Urban, Practice Transition Advisor Are you ready to sell your dental practice? This is always a difficult question to answer for most dentists. You may still love doing dentistry but want less stress. How is your body holding up? Do you have enough money to retire? How much is your practice worth? Contact your transition consultant/broker and have a...Read Moreby omniadminJune 20, 2022 Practice Management, Practice Sales, Practice Transtions, Seller Articles, Selling a Practice0 comments
What To Do with Your Practice If You Are Sick Or Dying?
Most of us have a vague notion of what retirement might look like but that’s where our planning usually stops. Getting sick or receiving a terminal diagnosis isn’t something that is easy to think about and is even more difficult to talk about. Nobody wants to contemplate their last moments in this world. Sadly, we have all witnessed peers who have been thrown a curve ball and had an illness...Read MoreThe Importance of Your CPA During a Transition
The Importance of Your CPA During a Transition. Megan Urban of Omni Practice Group talks about why a dental-specific Certified Public Accountant is critical during your practice transition. Regardless if you are a buyer or seller, you should have a CPA who specializes in dental transitions. If you are a seller, your CPA will help guide you through the complexities of taxes and what you may...Read Moreby omniadminMay 17, 2022 Practice Sales, Practice Transtions, Seller Articles, Selling a Practice, Using a Professional0 comments
Benefits of Hiring a Broker
By Kevin Brady Why use a Dental Broker to Sell your Practice? After many years of the hard work, long hours, and substantial investment that go into building a dental practice, you’re now thinking about selling the practice. It’s easy to assume that the practice will sell quickly and for a great price when you are ready to sell. Feedback from doctors who have recently sold their...Read MoreFrequently Asked Questions for Dental Sellers
By Rod Johnston, MBA, CMA Do I have to pay out my staff vacation and sick time at closing? Yes, after the sale has closed, you will write a check for accrued vacation time to your staff members. The staff will then start accruing vacation and sick time under the new practice owner. Paying out sick time depends on your individual state laws. Some states have recently implemented mandatory sick...Read Moreby omniadminApril 3, 2022 Associate Articles, Buyer Articles, Practice Management, Seller Articles, Students0 comments
