Welcome to our blog, a vibrant space where knowledge meets insight. Here, we delve into the dynamic world of Dental Transitions and Practice Management offering articles and practical tips. Join us as we share valuable insights, expert perspectives, and the latest trends in Dentistry.
by Michael Njo, DDS In this article, I will summarize and outline what is needed and what to expect when buying or selling a dental practice. TIME - The time it takes to sell a dental practice can be from three months to three years. A lot of the timing issues depend on the market demand in a particular area. It is interesting that those states that have opened up their borders to reciprocity generally have ...
Part 2: Navigating Dental Transitions: The Importance of Advisors to ensure a Seamless Process by Michael Njo, DDS Transitioning a dental practice can be a complex and daunting process. It is one of the most significant career moves a dentist will make. However, with the right advisors/team and a well-structured plan, a smooth transition can be achieved. This article will outline the key advisors needed for a dental transition, potential pitfalls to be aware ...
Part 3 - Valuation Myth By Michael Njo, DDS The past two articles have walked you through what your timeline and exit strategy desires are, the second article walked you through putting your team together to achieve and facilitate your goals. Now let's discuss the nuts and bolts of a valuation. This process will either add or detract from a successful purchase. Who does valuations? Or should I say an "Opinion of Valuation". Unlike a ...
Navigating Dental Transitions: The Importance of Advisors to Ensure a Seamless Process Written by Practice Transitions Institute Transitioning a dental practice can be a complex and daunting process. It is one of the most significant career moves a dentist will make. However, with the right advisors/team and a well structured plan, a smooth transition can be achieved. This article will outline the key advisors needed for a dental transition, potential pitfalls to be aware ...
The internet is a wonderful thing. However, everyone should not believe everything on the internet. Nor should you apply everything you read regarding dental practice sales or practice transitions. Practice sales, just like patient care is very personal and should be treated with a customized approach. As with most things, a thoughtful, discerning look at proceeding with something for the first time, something as important as selling/transitioning out of practice should be well thought ...
Happy New Year! Thank you for the privilege to contribute to our newsletter. In the past 3 articles we covered the following topics: Part 1 - Leadership Part 2 - Gratitude Part 3 - Team In today's article we will cover Attitude and Mindset. When I think of attitude and mindset, I reflect on the my time serving on the Board of Bellarmine College Prep where both of my sons attended. It was there I learned more ...
I love this topic - TEAM. This next article, part 3 of a 4-part series on Culture, stems from the importance of creating and sustaining great teams. I have witnessed first-hand that when an office has a great team, spirits and productivity are high. I have had the pleasure of coaching the same teams for up to two plus decades and for those who know what I am talking about it is quite special. For those ...
Did you survive January? How about last quarter? Statistics have shown that our work force took a substantial amount of time off in the month of January. Practices across the country were also suffering from patient cancellations. Having staffing issues and a dental chair that is not occupied can be frustrating, but this is where your leadership and positive mindset are essential. Per our last article, you were tasked to answer the following questions: Where ...
Seize your Opportunity, even when you're Transitioning your Practice After speaking with so many dentists over the last few weeks, I've heard several different attitudes and opinions. The majority of input I have received has been concern, fear, and some negativity. I want to report that dental transitions, in my opinion, are better than ever. Most strong practices had better profit in 2020 than in the previous year of 2019. Most strong practices ...
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