Sometimes we need a simple lesson and reminder that success is an everyday, every hour, every minute commitment that never goes out of style. Certainly, there are countless books and speeches that claim to give you the secret sauce for success, but in a way, success for one person is not success for another. We are fortunate because each of us ...
Read MoreGroundhog Day was released in 1993 staring the hilarious Bill Murray. It was about a cynical TV weatherman who finds himself reliving the same day over and over again when he goes on location to the small town of Punxsutawney to film a report about their annual Groundhog Day. His predicament drives him to distraction, until he sees a way of ...
Read MoreWhat we are about to discuss could change your trajectory and elevate your practice to the next level of excellence. Considering the “new dental economy” we find ourselves in, it is predictable that you might be the very practice owner that needs to read, reread, assess, and act on what we are about to discuss. We all have found ourselves ...
Read MoreNot long ago, I received a marketing piece from a group that specializes in marketing for dentists. I get one almost every week. Do this, don’t do that, along with the promise of unlimited new patients with some brand-new marketing magic that will change the face of dentistry. A lot of talk but, from my experience, not much meat. True, ...
Read MoreLet’s take a real-life practice and a sale to a DSO before and during the event. Be sure you keep in mind the lists of good and not so good things of a DSO, try to understand the culture of a DSO, and the ultimate goal of the business plan or model in a typical DSO structure. Bottom line is that DSOs grow by mergers and acquisitions and not ...
Read MoreAllow me to try and be more objective and mention the good points and the not so good points about DSOs. This is the “ohs” in the title of this piece or a kind of “aha moment”. THE UPSIDE ARGUMENT FOR JOINING A DSO: Decreases the amount of time that a dentist spends running the business. Minimizes the doctor being the ...
Read MoreMost dentists are unaware that DSOs in one form or another have been with us for 30 years. Yet, today, DSO has become the buzz word for dentistry’s future with experts predicting that 80% of the dentistry being done in 10 years will be from DSOs. Currently DSOs own or control about 17% of practices in the US and are growing by about 15% ...
Read MoreOver and over, I get questions about DSOs from young doctors considering employment as well as doctor owners considering selling. Let’s take a quick look at the facts, current situation, and future possibilities. This will be based purely on interactions I have had with DSOs purchasing practices, the resulting doctor becoming an employee, ...
Read MoreIf you have followed through on being ready, and thoroughly vetted your candidate, we need to take a quick look at contracts. In a simplified way, a contract memorializes in writing what you and your associate, trial partner, or purchaser of your practice have already agreed upon. It is at this point that you are going to involve your attorney ...
Read MoreIf you have made it this far and you have poised your practice for growth, interviewed and found a likely candidate, or you are the young doctor almost ready to pull the trigger on taking that job, then allow me to give you one more quick look at things you may have forgotten. I want to take time to go back and remind you of some of the myths, ...
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