Professional Transition Strategies will be at the ASRM 2017 Congress this weekend

We are excited to be attending the ASRM 2017 Congress. This will be our second time attending the Congress, but our first as an exhibitor. In fact, Professional Transition Strategies will be the only transition broker with a focus on fertility and reproductive medicine in attendance. We are eager to meet some of the most influential people in reproductive medicine and answer questions about selling and buying fertility clinics.  

For now, here are some answers to frequently asked questions about The Congress and Professional Transition Strategies.

What is the ASRM 2017 Congress & Expo?

This is the 73rd annual meeting of the American Society for Reproductive Medicine. It has an annual attendance of more than 5,000 experts from all around the globe. Among these experts are genetic counselors, andrologists, nurses, obstetricians/gynecologists, and more.

What is the theme of the ASRM 2017 Congress?

This year’s theme is “Advancing Reproductive Medicine to Build Healthy Families”. In summary, the main focus is on all aspects of reproductive medicine with a focus on health. The program is designed to meet the intellectual and educational needs of physicians, nurses, social workers, genetic counselors, and practitioners.

What is the agenda?

The agenda ranges from advocacy for patients to the latest in molecular and genetic technologies. Additionally, the agenda has a focus on access to care. The courses at this year’s congress include a collection of lectures, symposia, and interactive lessons that support this year’s theme.  

You can learn more about the ASRM 2017 Congress & Expo at scientific.asrmcongress.org.

Who is Professional Transition Strategies?

PTS is a transition broker with a focus in fertility and reproductive medicine. We act as a resource to doctors who are looking to sell their fertility clinics. Since selling your practice is likely the biggest decision of one’s career, it is important to be as prepared as possible. Overall, it is nice to have a transition broker on your side if you aren’t looking to close your practice doors or sell to a corporate company. You can learn more about our team here.

Should I sell my fertility clinic?

Every doctor that owns a clinic should plan to eventually sell. The key to a successful and profitable transition is having a plan. That’s where PTS comes in — we are experienced and here to guide you through the steps that are required to sell your clinic.

When should I sell my fertility clinic?

PTS recommends our clients sell their practice when business is at its peak. We find that if doctors wait too long and the practice is declining, it won’t be as attractive to the buyer.

We have found that it could take between one and three years to sell a clinic. But that’s just an estimate — every clinic is different and how long it takes to sell depends on different circumstances such as location, reason for sale, and patient attraction. That’s why if business is good and you are thinking about selling, you should contact PTS right away.

If you are at The Congress, we encourage you to stop by booth #104 to discuss possible transition strategies. If you aren’t attending The Congress this year, you can contact us at any time.

I Want to Sell My Dental Practice But Am Not Ready to Retire

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If you have thought to yourself, “I want to sell my dental practice, but I’m not ready to retire,” you are not alone. This is a fairly common situation, and as long as clear lines are established, it can be a great situation. Here are some options.

Your transition options

  • Buy-in to buy-out
    • This is when you bring in a partner for a period of time and have a plan in place for the partner to eventually buy out the practice in full. Or, if agreed upon, you can bring on another partner or associate when the original doctor is finally ready to retire.
  • Become an associate and work for the buying doctor
    • Some doctors love practicing dentistry but don’t necessarily like the managerial responsibilities of owning a practice. In this case, it is best for the selling doctor to stay on as an employee/associate. You have a few options in this scenario: You can work for the new dentist at your original location, sell to a dental service organization (DSO) and continue practicing at your original location, or you can find a new practice (privately or corporately owned) at an existing location and become an associate there.

More considerations

If you sell your practice but want to continue working at another location, it has to be far enough away that you can’t take your patients with you (a non-compete will have to be in place). What’s more, the practice has to be both large and profitable enough to support you and the incoming doctor financially. Either way, clear terms need to be established within the operational agreement. This may limit any potential confusion among both doctors and the staff.

When is the right time to sell?

There really is no “right” time to sell a dental practice, but you should set the sale of your practice as a carefully planned event. If you wait too long, and a personal crisis affects the sale, the sale could become more difficult and less profitable. Here at Professional Transition Strategies (PTS), we recommend selling when the practice is at its peak value.

How long will it take to sell my practice?

There is no set time when selling or transitioning a practice. For a practice in a major metro area, it usually takes six to 12 months. However, if your practice is in a smaller rural community, it could take up to three years.

What can I do to prepare?

The first step you’ll want to take is to have a comprehensive practice appraisal conducted to determine ways to make your practice more valuable and profitable. At PTS, we use the most effective way of calculating your practice’s worth by looking at certain factors and their impact on the business. Some of the factors include:

  • The practice’s location
  • Growth potential
  • Reason for the sale of the practice
  • Long-term trends of the practice’s revenue and profit margin

What’s next?

If you still have questions about selling a dental practice, we encourage you to download our complimentary e-book. Then, when you’re ready to make the transition, contact us.

We will be at the 2017 ASRM Scientific Congress & Expo

woman smiling

The 2017 ASRM Scientific Congress & Expo is coming up and we are excited to be attending! This will be our second time at the Congress but our first time as an exhibitor. In fact, Professional Transition Strategies will be the only transition broker who has a focus in fertility and reproductive medicine in attendance.

Here is more information on the 2017 ASRM Scientific Congress & Expo

The 2017 ASRM Scientific Congress & Expo will be the 73rd annual meeting of the American Society for Reproductive Medicine. Each year, the Congress has an attendance of more than 5,000 experts from around the world. Among these experts are obstetrician/gynecologists, urologists, genetic counselors, andrologists, nurses, and more.

This year’s congress theme is “Advancing Reproductive Medicine to Build Healthy Families”. Overall, the main focus is on all aspects of reproductive medicine with a special spotlight on health. The 2017 ASRM Scientific Congress & Expo program is designed to address the needs, both intellectual and education, of physicians, nurses, social workers, genetic counselors, and practitioners in mental law, health, and ethics. The agenda ranges from the latest advocacy for patients to the latest molecular and genetic technologies with an aim on access to care. Further, the courses at this year’s congress will include a collection of lectures, symposia, and interactive lessons that support the theme of building healthy families.

You can learn more about the 2017 ASRM Scientific Congress & Expo and register to attend at scientific.asrmcongress.org.

Here is more information on Professional Transition Strategies

PTS is the only transition broker with a focus in fertility and reproductive medicine. We are here to act as a resource for doctors who are looking to sell their fertility clinics. Since selling a fertility clinic is often the single biggest decision of one’s professional career, it is important to be prepared as possible. With that, here are some things you should know about selling a fertility clinic:

You should talk with a transition broker

You have spent years building your practice. Now you are at an important milestone and you shouldn’t entrust your practice with just anyone. At PTS, we are experienced in assisting with partnerships, mergers, and affiliations, to name a few. Our team of professionals is here to meet with you one-on-one to discuss your personal goals. From there, we will conduct a comprehensive Practice Appraisal to determine ways to make your practice more profitable, and in turn, more valuable.

You need a plan

It is best to start preparing now if you plan on selling your practice within the next 2-5 years. If you wait too long, you could be jeopardizing one of your most valuable assets. It’s best to plan ahead so you can control the outcome of the transition.

The best time to sell

From a financial perspective, the best time to sell your practice is at its peak market value. This way, the owner will achieve the highest equity return. This is why it’s best to talk with a broker and create a plan as soon as you think about selling.

Overall, we are very excited to be the only transition broker with a focus in fertility and reproductive medicine in attendance at the 2017 ASRM Scientific Congress & Expo. If you are at the Congress, we encourage you to stop by Booth #104 to discuss possible transition strategies. We look forward to answering any questions you may have about selling your fertility clinic. However, if you aren’t attending the congress, you can reach out to us at any time.