Successful dental practice transitions aren’t just business transactions; they solidify professional legacies and deserve a thoughtful, holistic approach. Many dentists facing a transaction search for a dental broker, and many dental brokers can perform the mechanics required to close an average deal. But your dental practice isn’t an average transaction. And your legacy isn’t just another deal. For a buyer or seller, a practice purchase or sale marks a milestone in their career. While dentists need help navigating this complex process, it’s worth considering the difference between a dental broker and a DDSmatch Transition Professional.
Traditional dental brokers have facilitated practice transactions for many years. However, in a rapidly evolving market, DDSmatch breaks the mold and brings unmatched professionalism to every stage of the process. Our approach isn’t restricted to closing transactions; it’s about orchestrating seamless transitions, honoring your goals, maximizing your practice value, and safeguarding the legacy you’ve created. And if you’re buying your first practice, we help you start with the end in mind.
Where Is The Dental Industry Headed?
The American Dental Association reports that nearly 30% of dentists are considering selling their practices within the next decade. And many dentists have discovered that well-run practices are worth more than they realized. DSO deals have jumped in the past few years, but sellers also have other options to consider. The market’s complexity raises the stakes for dentists facing unsolicited offers, earn-out deals, and corporate competition entering smaller markets. As this surge continues, DDSmatch isn’t just riding the tide; we’re redefining the benchmarks of traditional dental brokerage.
DDSmatch offers many services that distinguish our approach from the rest of the industry and help dentists navigate their choices. The Trusted Transition Process™ highlights key characteristics that we’ve developed for smooth transitions. Here are the seven steps in this process that help define our Transition Professionals from dental brokers:
1. The Conceptual Transition Experience: Crafting Visions Together
DDSmatch places a spotlight on your aspirations before you sell your dental practice. The Conceptual Transition Experience focuses on understanding your plans, post-sale life, and long-term goals to create a transition that respects your journey.
We enjoy discussing your aspirations and exploring your goals. We carefully examine your career and talk about plans for life beyond ownership. By first understanding the unique motivations behind the decision to sell, DDSmatch tailors the transition process to align with your vision. Do you want to sell and leave clinical practice within a short time, or do you want to stay for a few years? Are you willing to work for a DSO to capture more value? This discovery process is not just about the handover of a practice; it’s about ensuring that your vision for life after ownership seamlessly integrates into the transition plan.
The Conceptual Transition Experience at DDSmatch is a testament to our commitment to the seller’s journey. We want to ensure that every dental transition is not just a transaction; it’s a customized and respectful move into a new chapter of your professional and personal life.
2. Strategic Practice Outreach: Uncovering Possibilities
In the lead-up to a dental practice transition, the Strategic Practice Outreach step plays a crucial role. We carefully identify the distinctive features of your practice and present them thoughtfully to our network of pre-screened candidates. Utilizing a blend of modern technology and a personal touch, we assess potential matches and do the legwork for you.
Each dental practice bears a unique identity shaped by history, culture, and your personality. Our approach ensures these elements are acknowledged and communicated strategically. Combining technology with a human touch, we move beyond traditional outreach methods; we use advanced tools to identify potential matches in our nationwide search.
This fusion of technology and personalization creates a matchmaking process that considers your practice’s core values and unique selling points. We craft a narrative that resonates with potential candidates, encouraging them to envision their future within the context of your practice.
3. The Clinical Opportunity Blueprint™: Charting Growth Pathways
DDSmatch Transition Professionals help dentists identify clinical opportunities that pave the way for steady growth. This process involves a detailed analysis using the powerful software, Dental Intelligence. We generate a blueprint that identifies production mix and volume, new patient flow, and more to help your practice reach the next level, which can increase practice value. But it can also offer opportunities to a potential buyer as they look for growth potential in their new practice.
Our blueprint helps foster a seamless alignment between a new owner’s skills and career goals and the growth prospects within the existing practice. If you’re a few years from a transition, It can also serve as a game plan for a new associate. You can create a symbiotic relationship where the associate’s expertise contributes to the expansion and success of the practice while you mentor the associate’s professional and business development.
The Clinical Opportunity Blueprint™ at DDSmatch is a dynamic process that goes beyond surface-level metrics. It’s one more way we add extra value to practices wanting to gain momentum towards a profitable sale.
4. Third-Party Valuation: Ensuring Accurate Value
Dental practice brokers calculate your practice’s value, but few bring a professional accounting background and valuation experience to the process. However, incorporating a trusted business valuation is critical to building fairness and equity in dental practice valuations. An in-depth analysis serves as the cornerstone for forging partnerships where the contributions of both parties are acknowledged equitably.
At DDSmatch, we request a third-party valuation by Blue & Company, a CPA team dedicated to accurate dental valuations. Their meticulous examination of the business value establishes trust with buyers and lending institutions. Together, we work with Blue & Company to provide more than an accurate numerical assessment; we build credibility that all parties can rely on.
The goal is clear: to establish a foundation where buyers and sellers enter into a transition with a mutual respect of the practice value. By fostering this transparency, DDSmatch ensures an equitable deal and sets the stage for a closing that feels like a win-win for both parties.
In essence, the Trusted Valuation Analysis at DDSmatch is a commitment to fairness. It’s about ensuring the final transaction is financially sound and ethically grounded.
5. DDSmatch Interview Alignment: Navigating the Right Fit
Once we’ve identified potential matches, the Interview Alignment process helps sharpen the focus on the right match. Your local Transition Professional conducts in-depth interviews, allowing you to discern the best fit for yourself, your staff, and your patients.
In this phase, we transition from identification to understanding. The goal is to align with technical qualifications and to delve into the intricacies that make a deal successful. We facilitate conversations that go deeper, allowing you to gauge compatibility with prospective buyers. These interviews serve as a crucial bridge that transcends resumes and qualifications. It’s an opportunity to assess technical proficiency, interpersonal skills, aligning aspirations, and cultural compatibility for your team and patients.
The DDSmatch Interview Alignment is a practical step intended to ensure that the match isn’t just on paper but resonates with the dynamics of your practice. It’s a process that empowers you to make informed decisions and choose a buyer that fits with your practice, team, and patients while still capturing maximum value. This process assures both parties that we’ve facilitated the right match.
6. The Dental Advisory Connection: Expert Guidance At Every Step
Our approach goes beyond the traditional dental practice broker model and recognizes that a successful practice transition involves expertise from multiple domains. Working closely with legal minds, financial experts, and seasoned accountants, we orchestrate a collaborative effort to navigate a dental practice sale.
DDSmatch’s comprehensive philosophy sets us apart from most dental practice brokers. For example, many of our professionals hold Real Estate licenses, adding an extra layer of assistance in handling building and land sales. This multifaceted approach ensures that every aspect of the transition is addressed with a robust network of support during the entire transition.
Whether legal, financial questions, tax considerations, or navigating the real estate landscape, the Dental Advisory Connection ensures you don’t have to search for seasoned professionals; we will connect you to them. This collaborative network fosters a smooth transition and instills confidence so you can focus on caring for your patients and teams through a time of change.
7. The Vision Alignment Completion: Sealing the Transition with Shared Aspirations
The final touchpoint in DDSmatch’s process helps align buyer and seller expectations for a clean closing. This step solidifies the transaction so that both parties move forward with confidence.
A collaborative effort is more than just paperwork; it’s the convergence of expertise, insights, and the shared commitment to crafting a future that respects both dentists. We orchestrate the meticulous preparation and exchange of essential documents—purchase agreements, post-transition employment contracts, and building leases. Our attention to detail helps you focus on the interpersonal and practical aspects of the transition.
The Vision Alignment Completion transcends the transactional to bring together the goals discussed throughout the transition into concrete agreements. It’s a transformative moment where plans come together for a defined step into the future. There’s nothing more satisfying than the successful conclusion of this journey!
Just Need A Dental Associate? We Do That, Too.
Hiring an associate dentist is more than a mere professional agreement; it’s a pivotal decision that shapes the trajectory of a dental practice’s future. Our goal is to find the right match that aligns with the clinical needs and seamlessly fits into the practice’s culture and vision. DDSmatch extends its expertise beyond brokering practice sales to match aspiring dentists with existing practices and create more win-win relationships.
DDSmatch’s nationwide network of potential associates is at the core of this process. Leveraging our extensive reach, DDSmatch doesn’t just pair dentists and associates; we orchestrate a search that considers geographical dynamics and aligns expectations. The goal is to create an environment where the collaboration envisioned during matchmaking translates into a unified, effective working relationship.
This hands-on approach from DDSmatch is more than just a service—it’s another commitment to setting the stage for enduring partnerships. The entire dental associate match process means that geographical barriers don’t limit opportunities; a shared understanding and a vision for the future transcends those boundaries.
DDSmatch: Delivering The Extraordinary
Our approach to practice transitions goes beyond the ordinary experience with dental practice brokers. The Trusted Transition Process™, an essential facet of our strategy, ensures a comprehensive alignment between buyers and sellers. Our commitment to providing thorough support, exemplified through the entire journey, solidifies DDSmatch as the go-to partner for a smooth journey through this monumental life stage.
Third-party valuations, Strategic Practice Outreach, and the Dental Advisory Connection add layers of support for a transition that fits you. Working with DDSmatch isn’t just selecting a service; it’s choosing a partner dedicated to navigating this process with you. Reach out to start the conversation with your local DDSmatch Transition Professional today to discover the difference.