Transition Talk

Choosing insurance coverage might not top your list of exciting ownership milestones, but it plays a vital role in safeguarding your future. Fortunately, there are many resources at your disposal to help you navigate all of the policy intricacies. In this episode, Christy discusses the insurance landscape with our guests, Tara Cain, Insurance Account Manager at CWA Risk Solutions, Claudia Glaubitz, Director of Business Development at Risk Agency, and Joey Bertrand, CEO at Risk Agency. Our guests provide valuable insight into what types of critical coverage will protect you, your practice, and your property from costly setbacks.

What factors make for a “Don’t Mess This Up” opportunity versus a “Buyer Beware” opportunity? This episode speaks to the buyers out there, helping to identify the differences between the right and wrong practice opportunity. Tune in as we take a look at the financials, doctor work, real estate, location and other aspects to consider as you explore different opportunities. This episode originally aired May 18, 2022.

What dental buyers valued in a practice a decade ago isn’t the same as what they prioritize today. Buyers are diving deeper into the due diligence process, have different desires surrounding location preferences, real estate purchase options, and practice data, among other things. NDP Practice Listings Manager Kathy Whiting shares her experience, illustrating how buyers’ preferences have shifted throughout the years. The key message for selling doctors: As buyer priorities evolve, sellers who adapt can showcase their practice in a way that stands out to the right buyers.

While the financial pieces often dominate the conversation in a DSO sale, there are many more factors involved in the process other than EBITDA and multiples. Christy and Charles help practice owners take a step back and understand all the key considerations when partnering with DSOs. From how the practice value is truly calculated, your preferred workback timeframe and your life after the sale, understanding these components will help you set the right expectations.

As a dental student or resident, you're likely juggling graduation requirements, career paths and personal relationships. And with student debt looming, it can all feel like a lot of weight on your shoulders. Noah Jones from the University of Kentucky joins Charles on this episode to share how he’s managing his priorities in preparation for the future. The way that Noah sees it: this stage is filled with open doors.

As you begin your career as an associate, practice ownership may seem more like a dream, rather than a milestone within reach. In reality, the preparation should start early. Practice owner Dr. Dan Butterman and his associate and son, Dr. Kevin Butterman, continue their story from episode 130 and talk about their future partnership. They discuss their initial ideas, transition timeframe and how they’re ensuring that Kevin is not only prepared for the clinical work, but also the administrative and leadership aspects of the business.

As you explore a potential practice to buy, how can you confirm that the opportunity is not only profitable, but also aligns with your personal and professional goals? This is where the due diligence process comes in. Charles and NDP transition consultant August Sandy give a rundown on what the process entails and how it can help provide reassurance that you’re making the right choice in a practice.

Once you’ve decided you’re ready to buy or sell a practice or take on the next career milestone, knowing where to turn first should be your next step. NDP’s Brandy Pecora and Alivia Youree discuss common questions, concerns and misunderstandings in the early phases of the buying, selling and valuation processes. Together, they illustrate what happens when you get the ball rolling with a dental transition advisor.