If you’re in the market to buy a practice, the first step is to create a dental-specific team of advisors to guide you through the purchase, transition process, and the operation of the practice after purchase. Your team should include the following members who each have dental-specific experience in their fields:
The time has come. You’ve fulfilled your dreams of becoming a dentist! People will start referring to you as Dr. (insert your name), and that may take a little getting used to. But like most new accomplishments, this one comes with a set of new challenges to sort through. One thing to consider when buying or establishing a dental practice of your own is where to live in proximity to your practice. Here are a few pros and cons to consider when making the decision.
After working as an associate for a couple of years, you’ll start thinking seriously about whether to become an independent practice owner or remain an employee for your career. This is a personal decision and there really isn’t a right or wrong answer, unless you make the decision based on bad information. I’ve heard dental students and recent grads share a few misconceptions over the years about what it’s like for those who choose to become business owners. I’d like to set the record straight here. Here are the three biggest myths about owning a practice.
The American Dental Association is the premier business resource for dentists, offering dozens of guides on subjects we don’t often learn in dental school. These practical guides are available at catalog.ada.org. Leave a comment on this post to win one of the ADA Guides mentioned.