Orthotown September 2016 - 37
feature \\ practice management
Townie: Str8ner
I have considered the idea myself. However, I feel it
would take more than one GP office to be of benefit. If you
buy only one GP office and other GPs find out-and they
will-then you won't get referrals from them. I'm thinking
three GP offices would be the minimum.
Regarding associates ... there are more GPs than cockroaches. There will be no problem replacing one. Perhaps
offer an opportunity to buy a percentage in the future, to
discourage corporate-like turnover.
Townie: braced4this
I figured three or more practices would eventually be
needed. I am not that far removed from my days as a GP,
so handling some emergencies wouldn't be that difficult. I
am looking at practices in an area that has a dental school
so there are a ton of dentists looking for work.
TOPIC:
Bringing in professional
help for the transition
Townie: jgenecov
There are a number of good reasons to have an experienced
professional in practice sales and transitions help you out. (I
will use the male pronouns just because it's easier and more
consistent here.)
* You can get him to give you as much or as little help
as you think you need.
* He will have seen many different ways to structure a
practice transition, and can suggest different ways to
make your situation work.
* He knows what's out there, and how the market is
behaving at this time.
* He can appraise the practice on your behalf, without
*
*
*
emotion or prejudice, giving you a negotiating base to
begin from.
He can act as your negotiator/agent, so you don't have
to be "the bad guy."
Even though there is up-front cost, he can save you
tons of money by appraising the practice and negotiating on your behalf.
He can advocate for you to the other doctor, especially
in cases where you've been essentially running the
practice and don't want to look like you're trying to
use puffery to enhance your position.
DR. GROB SAYS ...
It is apparent that transition planning is a topic with many options. All private-practice owners constantly need to be aware of all of the options and alternatives available to buyers and sellers as the practice
moves through the various phases of initiation, growth and sale. n
JOIN THE CONVERSATION ONLINE
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orthotown.com \\ SEPTEMBER 2016
37
http://www.orthotown.com/Article.aspx?i=423&aid=6036
http://www.orthotown.com
Table of Contents for the Digital Edition of Orthotown September 2016
Orthotown.com Highlights
Dental Hygiene— in an Orthodontic Practice?
Industry News
New Products
Monthly Poll: Bonding
Non-Sx. Plan for This Case?
A Winning Combination
Townie Talks: Transitions Q&A
Clinical Orthodontics: A Great Future in Plastics
Dolphin Imaging & Management Solutions
GORP 2016
Product Profile: Ormco
Orthotown September 2016 - Cover1
Orthotown September 2016 - Cover2
Orthotown September 2016 - 1
Orthotown September 2016 - 2
Orthotown September 2016 - 3
Orthotown September 2016 - 4
Orthotown September 2016 - 5
Orthotown September 2016 - Orthotown.com Highlights
Orthotown September 2016 - 7
Orthotown September 2016 - Dental Hygiene— in an Orthodontic Practice?
Orthotown September 2016 - 9
Orthotown September 2016 - 10
Orthotown September 2016 - 11
Orthotown September 2016 - Industry News
Orthotown September 2016 - 13
Orthotown September 2016 - New Products
Orthotown September 2016 - 15
Orthotown September 2016 - Monthly Poll: Bonding
Orthotown September 2016 - 17
Orthotown September 2016 - 18
Orthotown September 2016 - 19
Orthotown September 2016 - Non-Sx. Plan for This Case?
Orthotown September 2016 - 21
Orthotown September 2016 - 22
Orthotown September 2016 - 23
Orthotown September 2016 - A Winning Combination
Orthotown September 2016 - 25
Orthotown September 2016 - 26
Orthotown September 2016 - 27
Orthotown September 2016 - 28
Orthotown September 2016 - 29
Orthotown September 2016 - 30
Orthotown September 2016 - 31
Orthotown September 2016 - Townie Talks: Transitions Q&A
Orthotown September 2016 - 33
Orthotown September 2016 - 34
Orthotown September 2016 - 35
Orthotown September 2016 - 36
Orthotown September 2016 - 37
Orthotown September 2016 - Clinical Orthodontics: A Great Future in Plastics
Orthotown September 2016 - 39
Orthotown September 2016 - Dolphin Imaging & Management Solutions
Orthotown September 2016 - 41
Orthotown September 2016 - 42
Orthotown September 2016 - 43
Orthotown September 2016 - GORP 2016
Orthotown September 2016 - 45
Orthotown September 2016 - 46
Orthotown September 2016 - Product Profile: Ormco
Orthotown September 2016 - 48
Orthotown September 2016 - Cover3
Orthotown September 2016 - Cover4
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