Selling Your Practice Tip #5: Show that you have a growing number of active patients. Buyers don’t want to purchase a practice that has a declining patient base unless they can get a huge discount. If …
Selling Your Practice Tip #4: Resolve all practice issues before a potential sale.
Selling Your Practice Tip #4: Resolve all practice issues before a potential sale. You must clean up issues including lawsuits, state board issues and regulation audits before the beginning of the …
Selling Your Practice Tip #3: Have all your documentation ready.
Selling Your Practice Tip #3: Have all your documentation ready. When practices don’t have complete and accurate documentation (financial, legal, partnership, HR, etc.), it can result in the sale …
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Selling Your Practice Tip #2: Show three years of growth before the sale.
Selling Your Practice Tip #2: Show three years of growth before the sale. Strong financials and increasing revenue make your practice more attractive to buyers, especially in a competitive market. …
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Selling Your Practice Tip #1: Start preparing your practice for sale 10 years ahead.
Selling Your Practice Tip #1: Start preparing your practice for sale 10 years ahead. To have the highest sale value for your practice, you want to start far enough in advance to have everything in …
Dentist as CEO Tip #5: Reach out to colleagues and experts.
Dentist as CEO Tip #5: Reach out to colleagues and experts. Dentists typically don’t have access to someone who can provide feedback on their thoughts, ideas, or practice performance. Consult with …
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Dentist as CEO Tip #3: Look toward continual improvement.
Dentist as CEO Tip #3: Look toward continual improvement. CEOs regularly assess practice performance and make decisions that create improvements. …
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Dentist as CEO Tip 2: It is not always easy being the leader.
Dentist as CEO Tip 2: It is not always easy being the leader. As a CEO, dentists must make tough calls. Whether you’re deciding what technology to bring in or making changes that might impact a team …
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Dentist as CEO Tip #1: Always be in “learning mode.”
Dentist as CEO Tip #1: Always be in “learning mode.” Most dentists never require the necessary skills to be excellent leaders. You cannot learn them from one webinar or one book. It is a process that …
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If the doctor is not motivated, the team will not be motivated either.
If the doctor is not motivated, the team will not be motivated either. Exceptional leadership starts with a display of motivation by the leader. Motivation is contagious, and others will quickly …
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Contact patients after a pre-authorization.
Contact patients after a pre-authorization. If you must pre-authorize a procedure, reach out to the patient with the results as soon as they are available. Be prepared to motivate the patient to make …
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Do you ever make exceptions to your systems?
Do you ever make exceptions to your systems? There are exceptions for everything. However, exceptions should be rare because if exceptions grow, the practice systems begin to break down. …
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