Dentaltown July 2014 - (Page 54)

transitions message board What is Normal in Terms of Transition from One Dentist to Another? How long should the seller remain in the practice? What is the attrition rate of active patients? Dentaltown.com > Message Boards > Practice Transitions > Practice Acquisitions > What is Normal in Terms of Transition from One Dentist ... carotabi Member Since: 03/14/13 Post: 1 of 15 Wondering when you sell a practice to another dentist and owner stays on for one day a week for one or two years, what is the average or normal transfer from that dentist to the new dentist? What is the normal number of active patients that stay active after the transfer? Eighty or 90 percent if done correctly? (I'll be keeping other members of staff.) n MAR 30 2014 nathanseyer Member Since: 03/07/11 Post: 2 of 15 I'm six months into my acquisition. I bought the practice-his last day was that Thursday; my first day was the next Monday. He just walked away and I took over. I kept the same staff and same hours. I'd say our patient retention has been well over 90 percent. I wouldn't want to do it any other way. Now, he did come in for a few weeks and say goodbye, introduce me to a few patients, but that is it. No conflict of styles or who's the boss, etc. Hope this helps. n MAR 30 2014 carotabi Member Since: 03/14/13 Post: 3 of 15 Wow. That's amazing. How did you keep all those patients without keeping the old doc? What kept them from going elsewhere? Did they live all in the area of your clinic? n MAR 30 2014 nathanseyer Member Since: 03/07/11 Post: 4 of 15 I'm in a rural setting, so my situation may be different, but the patients certainly have other options. And I was definitely worried about them leaving, but I didn't change really much of anything that he was doing. Didn't change signs for months, decor, staff or hours. I am now starting to change things and make them my own. I think people are creatures of habit. If they like where they are and are comfortable, that's where they want to stay. I just try to make sure they stay comfortable. I've thanked patients for sticking with me during the transition but I don't think many of them even considered leaving. Just my experience. n MAR 30 2014 Tim Lott, CPA, CVA Member Since: 11/16/05 Post: 5 of 15 I think that should be the norm and really shouldn't be amazing, though the buyer should be congratulated for the excellent retention. In my experience, it's more amazing when the retention really suffers and more times than not it is because the buyer is doing something wrong. I've always said people don't like change and why would patients want to go somewhere else completely where they don't know anyone. If retention suffers I'm guessing the buyer is driving them away. n MAR 30 2014 carotabi Member Since: 03/14/13 Post: 6 of 15 OK and how much does the retention statistics go down if you move the clinic to a new one about a mile away? n MAR 30 2014 nathanseyer Member Since: 03/07/11 Post: 7 of 15 No experience with that, but I would hold off for a year or so before I did that. People don't like change. This is just my thought, I'm not a psychologist. But patients stay because continued on page 56 54 JULY 2014 » dentaltown.com http://www.Dentaltown.com http://www.dentaltown.com

Table of Contents for the Digital Edition of Dentaltown July 2014

Dentaltown.com Highlights
Howard Speaks: Why Two Out of Three Cavities Go Untreated
Professional Courtesy: Appsolutely Amazing
Continuing Education Update
Ethical Dilemma: Don’t Underestimate the Embezzler
Money Versus Doctor
Full Arch Reconstruction
New Technique Ideas Please!
What is Normal in Terms of Transition from One Dentist to Another?
Open Sinus Lift
Look Before You Leap: Lessons from the Field
A Tale of Inherited Problems
Retire in Practice
You Should Know: Diashine
Townie Choice Awards Product Showcase
Product/Service Extras
Dentaltown Research: Periodontics, Product/Service Extra
Continuing Education: Oral Cancer in the Dental Office
What’s on Your Tray?
Ad Index
Product Profile: Synergy Dental Partners
Perio Reports
Perio Program Series—Step 3: Create a Plan
Dentally Incorrect

Dentaltown July 2014