ADAPT Blog

Through ADA Practice Transitions, I work with many dentists who are looking to buy a dental practice. While it is tempting to search for the “perfect practice,” I ask dentists to keep an open mind and find a practice with a great foundation – one that you can transform into your very own dental dream home.

Just like with homeownership, you have two basic choices when it comes to dental practice ownership. You can build it new, or you can buy an existing practice. The reality is that it is often financially advantageous to find a practice – a fixer-upper, if you will – that you can adapt to fit your vision.

Dental practices can grow slowly over several years – then suddenly reach a tipping point where an owner feels they need to hire an associate ASAP. But it is important to prepare the practice before hiring anyone.

This is part of the Transition Tales & Truths series in which we discuss practice transitions with real dentists.

Patience is a virtue when trying to find the ideal practice. However, it is important that you use the waiting time to prepare for your next steps.

That was Dr. Jim’s message to his dental colleagues when he got in touch with ADA Practice Transitions to share his story.

Dr. Jim and his wife, Pam (names changed at their request), worked together as a team to navigate the practice transitions process. Over six years and a variety of experiences, they refined their idea of the “perfect practice” and wanted to share their lessons with other young dentists ready to forge a path.

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.

Retirement should be a well thought-out event that you take ownership of. To truly take control of your future, retirement planning should start years – even decades – before you anticipate finishing your career.

Here are two scenarios that illustrate what happened when a doctor did not completely think through their exit plans, along with suggestions to help you avoid the same fate.

Welcome to Practice Profiles, an occasional series that showcases some of the practices of ADA Practice Transitions participants. See one that intrigues you? Create your ADAPT profile today!

Looking for a practice in a prime urban location with a small-town feel?

If you ask a dentist about “corporate dentistry,” you may get a strong reaction. Opinions range from “corporate dentistry is destroying the profession” to “corporate dentistry is ideal – it allows a dentist to focus on dentistry rather than running a business,” with many flavors in between.

In particular, I have heard a number of established dentists lament how many new graduates choose the corporate dentistry route for their first job. Whenever I encounter someone who is disappointed with a new graduate’s choice outside of independent dentistry, I often have the following conversation:

Happy New Year! Many people look at the new year (or new decade) as a time to make changes. If the fresh calendar has you thinking about your own dental practice transition, review my lessons learned in 2019 and then read on for tips to make 2020 your year.

Welcome to Practice Profiles, an occasional series that showcases some of the practices of ADA Practice Transitions participants. See one that intrigues you? Create your ADAPT profile today!

Interested in a startup that comes with a ready-made patient base?

Walk into a fully digital, 6 op, updated practice in a large, well-maintained building with room to grow. The nearest dentist is 25 miles away, so when the current owner had to stop practicing due to health concerns, local residents were left clamoring for a dentist.

Welcome to Practice Profiles, an occasional series that showcases some of the practices of ADA Practice Transitions participants. See one that intrigues you? Create your ADAPT profile today!

Join this practice as an associate dentist. The owner dentist is committed to the long-term patients and communities the practice serves. This owner understands that there is more to being happy and productive at work than an excellent salary so, along with a comprehensive benefit package that includes a CE allowance, paid vacation and bonus systems, he recognizes significant milestones in the team’s lives with gifts and staff appreciation parties.

This year, ADA Practice Transitions (ADAPT) went live – and I have had the privilege of working with dentists in the midst of career transitions of all types. From dental students to dentists wrapping up 40-year careers, I am thoroughly enjoying working with each and every one!

As we look ahead to 2020, I wanted to share five of my thoughts on the biggest predictors of a successful transition.