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Acquire Legal Counsel Acquire Legal Counsel
  • Services
    • Real Estate Services
      • Real Estate Investor Services
      • For Sale By Owner
      • Landlord Services
    • Business Services
      • Business Formation and Entity Selection
      • Business Planning
      • Contract Review Service
  • Acquire Blog
  • About Acquire
  • Contact – Map

Dental Transition Services


Know the Process

Dental Transition Services

At MedGC, we understand your unique needs. Our attorneys have many years of experience working with dentists and are able to help guide you through
the entire process of acquiring, selling, or  merging a dental practice.

Below are a list of consideration that should be considered when acquiring, selling, or  merging a dental practice.

Understand the Business

Treatment Plan

• Philosophy in clinical diagnosis, including radiography review.
• Completed, recommended but not completed, undiagnosed.
• Case acceptance.
• Recall for completion of accepted treatment.
• Procedural mix and clinical proficiency in non-referred treatment.
• Growth opportunities in referred treatment.
• Legibility and thoroughness of patient records.
• Conservative/moderate/aggressive treatment planning.

Billing and Collection
• Consistent and current financial arrangements.
• Provide payment options (cash, credit/debit card, internal
payment programs, outside financing solutions, checks, etc.).
• Fee schedule – most recent increase, state
reimbursement rates, peer-competitor rates.
• Obtain accounts receivable aging (30, 60, 90 days, etc.)
and historical monthly average aging.
• Review accepted insurances/PPO/HMO/capitated
programs/fee for service.
• Transferability of accepted insurance contracts
and/or managed care plans.
Scheduling
• Are patients pre-scheduled three to six months
ahead in hygiene recall?
• Is the doctor’s schedule 70 to 80 percent booked
two weeks out?
• Does the current schedule allow time
for emergency treatment?
• Are there gaps in the current schedule
(doctor or hygiene)?

New Patient Flow
• Average total per month – contrast the number of exams in the schedule to the number represented by the seller/broker.
• Source of referral – determine how and what forms of marketing are utilized:
• Internal – staff or patient incentives, such as gifting, discounts, giveaways.
• External – direct mail, print, radio/TV, webpage, social media, affiliated groups, such as community, religious, social, etc.
• Attrition – create a plan to bolster new patient flow for loss recovery

Examine the Facility
and Equipment

Exterior
Walk the property to determine necessary improvements:
• Visibility and accessibility from street – vehicle,
foot, public transportation
• Maintenance of grounds
• Signage visibility, location and lighting (verify
improvement possibilities with landlord and/or city)
• Sufficient parking
• Handicap accessible
• Waste removal

Interior
Start at the front door and work your way through the practice,
including the reception and front office. Witness the practice
through the eyes of the patient. Does the practice need cosmetic
upgrades? Are private areas available for payment and treatment
planning discussion?
• Organization and cleanliness
• Design and aesthetics
• Sufficient space and comfort
• Provided amenities
• Condition of office equipment and furniture
• Practice management software or paper charts

 

Operatory
Inspect the condition and layout to assess whether everything
is in working order. If there are changes or additions that
must be made for you to be clinically proficient, make a list of
necessary upgrades and associated costs. Determine if the need
is immediate or if it can be postponed as a future objective.
• Left- or right-handed
• Handicap accessible
• Open bay, quiet room, doctor vs. hygiene.
• Patient chair, delivery system and light functionality.
• Delivery system type – chair mount (traditional or
continental), side delivery, rear delivery or cart.
• Instrumentation:
• Hand pieces (air driven or electric)
and low-speed attachments
• Fiber optics
• High volume evacuation
• Saliva ejector
• Ultrasonic instruments
• Curing lights
• Technology:
• Intra-oral camera
• Audio/visual
• Digital radiography
• Panoramic X-ray
• CadCam Restoration Technology-CEREC, E4D,
Lava, iTero, etc.
• Soft-tissue laser
• Mechanical room – ask for service records
from the most recent vendor inspection.
• Compressor
• Vacuum
• Nitrous
• Amalgam separator
• Lab and sterilization – check for asepsis, infection
control standards and OSHA compliance.
• Autoclave sterilizer
• Ultrasonic cleaner
• Tubs, trays, cassettes
• Model trimmer
• Supplies/inventory

Staff Considerations

Is staff aware of the transition? If not, ask when they will be
informed and what your role will be. Evaluate the following:
• Employee manual – ensure roles and responsibilities
are outlined and that personnel policies are in writing.
• Compensation rates – compare to area averages
via dental-specific CPA or practice consultant.
• Benefits offered – medical, retirement, bonus
incentives, vacation, sick leave, etc.
• Evaluate whether the selling dentist and staff have
a good rapport and working relationship. Determine
if they are a good match for you.
• Retention – determine if all staff will remain and/or
if new staff is needed.
• Consider if there is any staff that will not make the transfer
with new ownership.

Review the Leases and Vendor Contracts

Review the type of lease offered and the associated covered costs:
• Ask if a tenant improvement allowance is offered when
signing the new lease.
• Remaining term – your lender will want to see elective
renewal options in place that are equal to the term
of the loan (typically 10 years).
• Is the present lease transferable?
• Contrast current area lease rates to the practice lease rate.
• Check with city planning regarding pending area
improvement plans, projects, etc., that may interfere
with access to the business

Let's get in touch

Send me an email and I'll get back to you, as soon as possible.

Send Message

About us

Acquire Legal Counsel is owned and operated by Mike Lovell, Esq. in Lynchburg, Virginia. Please contact us to discuss your legal concerns . I can be reached mlovell@michaellovell.com or please call 434-252-2521 for more information.

Contact Info

  • Acquire Legal Counsel (AcquireLC.com)
  • 111 Hexham Dr. Ste A, Lynchburg, VA 24502
  • 434-252-2521
  • 434-658-1296
  • mlovell @michaellovell.com
  • www.acquirelc.com

DISCLAIMER

The material provided on this website is for general informational purposes only and is not legal advice. The information contained herein is general and it does not provide specific legal advice. The website and its information is for general information only. Contact with the firm via email or phone does not create an attorney-client relationship between you and the Firm.

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