As a dentist, do you sometimes find yourself with extra time or referring a decent amount of work to specialists such as periodontists or endodontists? While that is great for building professional relationships, that is money you may be able to keep in your own practice if you add a specialty or two to your…
Published by Matthew Scherer on January 3, 2019 The end of the year will be here before you know it. This is the perfect time to reflect on what kind of year it was for you and your dental practice. Here are a few questions you should be asking yourself to determine the success of your dental practice. How did you grow as…
Published by Matthew Scherer on December 4, 2018 So you are ready to take the big leap and purchase a dental practice. Congratulations! You even have a practice in mind. But now what? Ask yourself the following questions to help determine your next steps. Your answers will greatly impact your future as you get ready to make one of the most important decisions…
Published by Matthew Scherer on December 4, 2018 Guest Author: Nick Partridge, Five Lakes Professional Services Practice transitions are exciting. Once the right opportunity is identified, buyers anxiously work through a significant checklist of items. From finding financing and negotiating a purchase price to chart reviews and beyond, buyers and sellers delicately dance toward closing. Along the way, it is important not to overlook…
Published by Matthew Scherer on November 16, 2018 Be sure to start planning at least 3-5 years in advance It’s always difficult to plan for retirement, especially for dentists who own their own practices because there are so many factors to take into consideration. Is your practice in a position to be sold? Are you financially ready? Will your employees be taken care…
Published by Matthew Scherer on November 16, 2018 Find out if you have liens or debts on your practice first Before you get the ball rolling on retiring and selling your dental practice, it is imperative to ensure there are no liens or debts against your practice. Believe it or not, this is often overlooked, and many dentists are surprised to find out…
Published by Matthew Scherer on October 9, 2018 How Purchasing A Dental Practice Can Get You Out Of Debt Quickly As a young dentist fresh out of dental school, the next step in your career might be to purchase your own practice. But today, most dental school graduates find themselves in immense debt and are concerned about the costs associated with such a large…
Published by Matthew Scherer on June 29, 2018 On June 27, TeamSmiles teamed up with the Cleveland Indians and local dental professionals to provide free oral care to underserved children in the community. Matt Scherer volunteered at the event and had an amazing time! Check out some of the photos he captured that day. In 2017, TeamSmiles provided 3,915 children with free dental care…
Published by Matthew Scherer on June 29, 2018 Have you talked to your CPA about it? There may be some things you are unaware of when selling or some things you haven’t thought about that need done before your practice is sold. What to Consider When Selling Your Dental Practice Is the buyer qualified? It is important to verify that any buyers are qualified…
Published by Matthew Scherer on May 25, 2018 If you’ve ever watched one of the popular trauma ER documentaries, you’ve probably thought, “I’m glad that wasn’t me!” After reading these actual dental practice purchase traumas, you may think, “I’m glad it wasn’t me.” Future Sale Date A practice had $300K collections. Nearby, a young dentist agreed to buy the practice to merge it…
Published by Matthew Scherer on November 7, 2017