Most doctors will practice an average of 35 years. The number of years a doctor ultimately practices, multiplied by the income he or she earns over that period, equals Lifetime Income. A doctor’s Lifetime Income will be greatly affected by career decisions that may include buying a practice, joining a practice as an associate, or for those real risk-takers, starting a new practice from scratch. But are all of these career choices equally wise? Which has the greatest impact on the doctor's Lif
The following scenario is a sales pitch made by a dental equipment salesman to convince a young dentist to start-up a new practice from scratch, which is equivalent to buying a practice for $500,000 that has no patients:
There are some dentists and their advisors who worry more about the seller benefits, and lose sight of the immediate and long term benefits for the purchaser. Dentists have turned down buying a practice because their advisors told them it was overpriced by as little as ten or twenty thousand dollars, and they lost the millions of dollars of income they could have made over the next twenty to thirty years of practice.
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Laboratory expenses are very telling as to what is being done in a practice and what is not...
When you recognize the clinical and management compensation as an overhead expense, the overhead percentage should be 80% to 85% of annual gross collections for a well run general dental practice.
There are many different reasons for what seems like a perfect transaction to go bad.
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