Buy an Existing Practice or Build a New One?

By Rod Johnston, MBA, CMA We speak with hundreds of practice buyers each year.  Many are looking for that gem of a practice in their desired area; a practice with new or newer equipment, digital technology, great location, recently remodeled, etc.  Oftentimes, that practice either doesn’t exist; or if it does exist, it’s not for sale.  So what’s a buyer to do? Omni is a rare breed in the...Read More

Buy an Existing Practice or Build a New One?

By Rod Johnston, MBA, CMA We speak with hundreds of practice buyers each year.  Many are looking for that gem of a practice in their desired area; a practice with new or newer equipment, digital technology, great location, recently remodeled, etc.  Oftentimes, that practice either doesn’t exist; or if it does exist, it’s not for sale.  So what’s a buyer to do – buy an existing practice...Read More

Should I Pay Down My Student Debt Before Purchasing a Practice?

By Rod Johnston, MBA, CMA Nothing resonates more with recent college graduates than the talk of possibly wiping away student debt.  Even though this might be a talking point of our current administration, it does bring up a question that newly graduated veterinarians worry about if they want to own their own veterinary practice.  Should I pay down my student debt first?  Or should I purchase a...Read More

Should I Pay Down My Student Debt Before Purchasing a Practice?

By Rod Johnston, MBA, CMA Nothing resonates more with recent college graduates than the talk of possibly wiping away student debt.  Even though this might be a talking point of our current administration, it does bring up a question that newly graduated dentists worry about if they want to own their own dental practice.  Should I pay down my student debt first?  Or should I purchase a practice...Read More

Patient Record Audit: Suggestions for Buyers

By Megan Urban – Randomly select patient records and review for complete documentation, full mouth diagnosis, necessary x-rays, and regular maintenance. – Review the most recent three to five new patient records for charted existing and diagnosed “ideal” treatment, perio charting, appropriate x-rays, and confirm if the patients have their next scheduled appointments. -Review the...Read More

Interview Questions for Every Dental Practice Role

By Megan Urban, Practice Transition Advisor Businesses across the country are struggling with staffing issues and the dental world is NO exception. During the pre-pandemic years finding great staff was a challenge, but since the pandemic began finding and retaining great staff has become a tumultuous experience. What follows are some interview questions that have helped dentists and their...Read More

Interview Questions for Every Veterinary Practice Role

Businesses across the country are struggling with staffing issues and the veterinary world is NO exception. During the pre-pandemic years finding great staff was a challenge, but since the pandemic began finding and retaining great staff has become a tumultuous experience. What follows are some interview questions that have helped veterinarians and their office managers sift through potential...Read More

Overcoming the Mental Hurdles of Owning your own Veterinary Practice

By Rod Johnston, MBA, CMA Perhaps, you are a few years out of school with DVM credentials under your belt.  Maybe you have been working as an Associate Vet and your confidence has grown to the point where you’re ready to take the next step with your career – owning your own practice.  However, the mindset of this prospect can seem overwhelming and daunting.  Most of your schooling has trained...Read More

Goodwill in Dental Practice Value

By Rod Johnston, MBA, CMA As many of you know, in the purchase of dental practices, typically the biggest contributor in determining the purchase price is “Goodwill”. However, are you aware of the aspects that make up Goodwill?  Of course, it includes the patients and the reputation of both the business and the selling dentist. But it’s also based on patient retention, which is the practice’s...Read More

Steps to Purchasing a Practice

By Rod Johnston, MBA, CMA Most veterinarians dream of eventually owning their own veterinary practice. But veterinarians tend to put off ownership for a variety of reasons. A couple of big reasons are that you have never done it before, you are not familiar with the process, or you’re just completely afraid of the unknown. A great philosopher once said, “If you can dodge a wrench, you can...Read More