If you are considering acquiring a dental practice, keep in mind the following thoughts and suggestions as you proceed:
Would you like to know where, in this day and age, a dentist is still called “Doctor” and is held in the highest esteem by his/her neighbors? Would you like to know where a dentist’s standard of living could be considerably increased without having to devote most, if not all, of his/her waking hours in the office? Would you like to know where you can afford to buy a big house your first year in practice instead of living in a cramped apartment for years?
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The most widely used method for determining practice value is fair market value. The commonly accepted definition of fair market value is the price which a professional practice would produce, allowing reasonable time to find a purchaser, with both buyer and seller having access to full disclosure of information about each other.
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.
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