🎙️ Welcome to the Dental Education Podcast with KLAS Solutions! Hosted by Phil Cole, this episode is a must-listen for any dentist thinking about selling their practice—whether retirement is around the corner or years away.
🔹 Key Takeaways:
- Start Planning Early – The biggest mistake dentists make is waiting too long to prepare for a transition. Ideally, planning should begin at least 3-5 years before selling to maximize value.
- Boost Patient Growth & Marketing – A steady influx of new patients (target: 30 per month per doctor) makes the practice more attractive to buyers and reduces their workload post-sale.
- Manage Financial Health & Overhead – A high overhead (75%+) can make a practice unsellable. Understanding break-even points and controlling expenses is crucial for long-term profitability.
- Upgrade Office & Technology – Worn-out equipment and lack of digital dentistry can deter buyers. Small updates like going digital can significantly enhance value.
- Ensure a Smooth Transition – Reviewing leases, PPO participation, and tax documentation in advance prevents last-minute roadblocks that could impact the sale.
💡 Whether you plan to sell soon or in the distant future, these strategies will ensure you get the best return on the practice you worked so hard to build.
🎧 Tune in now!
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