By popular demand, ADA Practice Transitions (ADAPT) is expanding!
Starting today, dentists who either own a practice or want to work in Indiana, Iowa, Kentucky, Michigan, Minnesota and New Hampshire can create an ADAPT profile!
Topics: retiring, looking for a job, purchase a practice, selling a practice, expanding my practice
This is part of the Transition Tales & Truths series in which we discuss practice transitions with real dentists.
When Dr. Christy Rens and her husband (a fellow dentist) graduated from the University of Minnesota Dental School, they weren’t quite sure where their future would take them. They assumed they would eventually wind up near family in the Twin Cities.
Life doesn’t always turn out as planned. One day, Dr. Christy got a call with an offer that she and her husband couldn’t refuse, so they packed their bags to try small-town life. The two-year contract even included free housing if they were willing to serve two rural practices.
Topics: looking for a job, purchase a practice
Many young dentists automatically flock to urban or suburban areas after graduation. After all, those areas can command higher salaries. But have you considered working in a more rural area?
A rural practice can offer several advantages beyond fresh air and open spaces. Namely, rural practices often cost less with lower overhead and higher collections – meaning you might be able to pay off your debts sooner and enjoy a better quality of life.
Topics: looking for a job, selling a practice
This is part of the “What Went Wrong Wednesdays” series, in which we explore common problems of practice transitions – and offer tips to help you avoid them.
Topics: owner dentist, retiring, purchase a practice, selling a practice
Do not forget the primary rule: your practice is worth whatever someone will pay for it.
Topics: owner dentist, selling a practice
I am thrilled to be able to touch base with you about our recent trip to ADA Annual Meeting in San Francisco!
Topics: owner, purchase a practice
In April, the American Dental Association launched a pilot for a new service: ADA Practice Transitions. Our goal is to make the process of joining, expanding, or leaving a dental practice more predictable and successful. The pilot is currently available in Wisconsin and Maine for all dentists looking for opportunities in those states. (We will soon be expanding to other states – sign up to be notified of the program’s growth.)
Some have said that the ADA is just replicating the current broker market. While there is some natural overlap, ADA Practice Transitions takes a completely new approach that’s designed to address a major need: finding the right person or practice for a successful transition.
Topics: owner dentist, associateship, purchase a practice
This is part of the Transition Tales & Truths series in which we discuss practice transitions with real dentists currently in the process.
We recently met Dr. Joe, a recent graduate working in a DSO with dreams of buying his own dental practice. Dr. Joe joined ADA Practice Transitions to pursue his goals and is working with his ADA Advisor to narrow down the best path forward.
The “life” in “work-life” balance is very important to Dr. Joe and his family. The desire to build a good life for his family guides every step of his journey.
Topics: incoming dentist, owner, looking for a job, associateship, purchase a practice
This is part of the Transition Tales & Truths series in which we discuss practice transitions with real dentists currently in the process.
Meet Dr. Joe. He’s a year out of dental school, working in a DSO in a new-to-him city. He grew up on a farm and watched his parents run their own business – and has always wanted to do likewise.
Dr. Joe’s first year of practice has given him real-world experience by letting him focus on dentistry. Working in a DSO has exposed him to a variety of staff characteristics and helped him crystallize what his ideal team might look like.
Topics: incoming dentist, owner, looking for a job, associateship, purchase a practice
Welcome to “What Went Wrong Wednesdays,” a series in which we explore common problems of practice transitions – and offer tips to help you avoid them.
Many dental contracts include some version of a restrictive covenant, also called a non-compete clause. These clauses prohibit an employee from practicing within a specific geographical area (typically a defined radius) for a certain period of time after leaving a practice. These covenants generally also have a non-solicitation clause that will bar an associate from directly soliciting the employer’s patients or other employees.
This clause helps protect an owner dentist from competition – but it can also limit an associate’s career movement.
Topics: incoming dentist, retiring, owner, associateship, purchase a practice
