- Over 24 years in the dental industry
- Extensive experience over the past 20 years in the ongoing management of hundreds of dental practices including:
- Practice Mergers
- Practice Acquisitions
- Practice Sales
- Associate Management
- Day-to-Day operations
- Staff Training
- Augsburg College Minneapolis, MN
- U of M Duluth, MN RDH
Bill Rossi has over 35 years of experience in dental practice management. He and his associates are actively involved in the ongoing management of over 250 practices. They deliver more results to more clients in the upper Midwest than all other consulting firms combined. Bill says, “Each month we monitor over 30 million dollars worth of dental activity. Each year we do over 600 on-site consultations. This gives us a deep and wide frame of reference.
“Our clients expect straight talk and good results and that is what they get. We know how to bring out the best in you and your staff to get things done. We promise we will never pressure you or ask you to pressure your patients. You will never be locked into a contract. You will not be subjected to boring meetings and canned programs. You will receive top-notch management support. You will be in control of what happens in your practice.
WHAT TIME AND WHAT TRANSITION IS BEST FOR YOU?
Remember your first years in practice? The optimism, hard work and courage it took to start, join or buy a practice?
By now, you’ve built something of considerable value. Your next five or ten years can be as important as your first! How things are handled will affect how your patients are cared for, how your team does, and of course, your retirement.
Sometimes you can be sitting right in the middle of a situation and not see the opportunities available for you. Now may be a good time to work through your options. What transition scenario will work best for you?
- Have you added or are you considering adding an associate with eventual buy in? Can your practice support an associate?
- Do you want to sell your practice “Lock, stock and barrel” or are you considering “Move and Merge?”
- What are the most effective ways to maintain or enhance practice value; e.g., “stage” a practice for sale?
- How much is your practice worth?
- Do you want to retire out right or sell and work part time for a number of years?
DENTAL PRACTICE TRANSITIONS:
By Bill Rossi
APM Practice Transitions is a wholly owned subsidiary of Advanced Practice Management.
Advanced Practice Management, LLC (APM) is the leading upper Midwest dental practice management consulting firm. Since 1990 it has helped hundreds of dentists and their teams organize and prosper. APM delivers more consulting services to dentists in this area than all other practice management companies combined. This gives APM an adept and wide frame of reference in advising dentists on all aspects of practice management, including practice transitions. We’ve built our reputation on being reliable, results oriented and true to our word. You can call us anytime for an informal 20-30-minute telephone consultation to discuss your situation.
SELLING YOUR DENTAL PRACTICE?
The Payoff is Not Just the Price!
By Matt Lahn
Obviously when it comes to finally selling one of your\ largest assets, you want to feel assured you are receiving a fair price. However, price is only one of many
variables that make up the total “sum of the sale.” Most practice sales are written up with an APA or asset purchase agreement. This assigns value to tangible assets like equipment, supplies, computers, etc., and non-tangible assets like Goodwill (patient records). This is where thousands of dollars can be lost or, worst yet, given to the IRS unnecessarily!
In most cases, goodwill (blue sky) makes up the majority of the total sales price. This is taxed at a lower rate (capital gains) than the remaining tangible assets, which are generally taxed at ordinary income rates. So, depending on income and sales prices, getting this part right is critical to rounding out the deal.
Moreover, if the selling Doctor plans on working for the buyer after the sale, negotiating a good compensation formula or other favorable working conditions can sweeten the deal and can be considered in the “sum of the sale!”
If the seller owns the practice facility and can get a fair sale price and/or an attractive lease agreement, this can also enhance the payoff.
Last but certainly not least: with the right deal and successor, you know that the patients you have known and served for years will have excellent ongoing care and your legacy and reputation will be preserved.