When you finally realize that it is time to retire, your first thought will be… I will have to sell my practice. And, if you own one, your second thought may be… I will have to sell my building too. Obviously, you are right on...
This article reveals just a few of the numerous stories concerning dentists practicing together with either inadequate contracts or without any contract at all. We learned of these situations through the many consultations we have conducted with dentists through the years.
If you are contemplating working...
The following is a true story…
Dr. A just had his fifth consecutive year of increased practice growth. In fact, he has averaged 36% growth in each of the past 2 years and 31% growth the year before that. Of course, he still must work 6...
A Practice Consolidation occurs when two doctors combine their practices to form a single, jointly-owned practice. In other words, Practice A and Practice B combine (consolidate) to become Practice C that is equally owned by Doctor A and Doctor B.
There are numerous advantages...
The PARAGON Progressive Ownership Program (“POP”) was designed to provide a logical means for a new dentist (typically a new graduate but POP is also a viable solution for more experienced dentists as well) to gradually enter into an equal co- ownership relationship with an...
Most of you realize that dentists encounter numerous options as they progress through the dental career. However, many may not know that there are certain common career choices that can be extremely detrimental to practice equity. Many decisions are made based on what is happening...
Although it is still rather common for a family-owned practice to simply change hands without a sale occurring, you may be surprised to know that PARAGON is often asked to assist in the formal sale of a practice to a close relative. Taking into consideration...
The typical general dentistry practice in today’s economic environment has a 60% overhead leaving 40% of the practice collected production to filter down to the owner/doctor. However, some practitioners have discovered how to reverse this profit trend and are actually netting the 60% portion that...
Ask 100 dental practice owners in the first 10 years of their dental career and at least 99 of them will tell you “NO, I don’t have all the patients I need.” In fact, since we began assisting dentists since 1988, we have not met...
