Dental practice transitions can happen at any time during your career, either when you are getting established as a new dentist, considering adding an associate, or looking ahead to retirement. In either case, a dental practice transition consultant could be right for you. Dental practice transitions are common, yet many dentists may not be equipped with enough knowledge and experience to navigate through this type of transition. Tony Myers, a nation-wide dental practice transition consultant, can apply his knowledge, experience, and expertise, merging with your unique needs to help you achieve a seamless practice transition.
Dental practice transitions are becoming more common across the industry
No one wants to work forever—even a dentist who is passionate about what they do. While you probably want to stop practicing one day, would it not be nice to pass the torch to an aspiring dentist? Rather than see your practice close its doors, the legacy you built would continue on with the next generation of dentists leading the way. Also, your decision to step away does not always have to affect the futures of your staff, many of whom might have been working with you for decades, building strong relationships and in many cases becoming like family.
That’s where a dental practice transition consultant can prove more advantageous than just making a straight sale of your practice.
Here is a deeper explanation of dental practice transitions, and what steps are involved during these transitions.
Tailoring practice transition to fit your unique needs
Maybe you are not ready to retire, but you just want to scale back your workload. Perhaps you would like to focus on providing dental care to your patients, without dealing with all of the administrative and logistical issues associated with running your own practice. The outgoing owner in a practice transition can stipulate these terms. In many cases, the contract detailing the specifics of a dental practice transition will stipulate that the outgoing owner continue working there for a certain period of time. This will allow the new owner to become familiar with the way the former owner ran the practice, and build relationships with patients as well as staff. The outgoing owner also may choose to remain part of the practice, albeit in a smaller role. The important thing to remember is that, with a practice transition, you will have a greater say in the legacy of your practice than you would under the terms of a straight sale.
Having an experienced, knowledgable consultant on your side is so important for these transitions. Every dental practice transition is unique, and it helps to have an advocate representing you who understands that. Bryant Consultants is proud to now offer consulting services focusing on dental practice transitions. Here is a list of some of the things you should look for when hiring a consultant for your practice transition.
We have partnered with Tony Myers, who brings more than 30 years of experience in the dental industry and puts it to work for his clients. Mr. Myers believes in an intensive approach and remains available for regular meetings and consultations long after a transition has been finalized, and the initial acclimation process has concluded. Learn more about Tony Myers, and how he could be a tremendous asset for your practice.
If you still have questions about any aspect of the dental practice transition process, here is a list of answers to frequently asked questions about these processes. Or, contact Bryant Consultants today at info@bryantconsultants or call (877) 768-4799 to get started.
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