January 25, 2018
Who Can Buy a Dental Practice?
Whether or not you can buy a dental practice depends on which state you live in. At a point in time, most states prohibited corporations from owning dental or medical practices. This came from the idea that only a person who is licensed to practice dentistry or medicine could own a practice. But as time changed, many states moved away from this law. According to this article, “these changes often came at the request of physicians and dentists who wanted to obtain the tax and liability benefits of corporate status for their practices.”
So, if you are wondering who can buy a dental practice, first check to see if non-dentists can own a practice in your state.
Here is more information related to buying a dental practice:
Whether you are graduating dental school, looking for a lucrative investment, or leaving a corporate environment, buying a dental practice is an intricate process. While every situation is unique, many buyers have similar concerns. That’s where we come in! Professional Transition Strategies is here to help you navigate through the process because we have been there and know how to conduct a smooth transition. Now that you know who can buy a dental practice, here are some common concerns of buying a dental practice.
Your current situation
There are many life factors that play a part when deciding to buy a dental practice. Some of the most common situations that buyers consider are the cash flow necessary to match their current lifestyle, student loans, where the practice is located, and how far it is from their current/desired residence. It is also important to consider the gross production of the office, overhead, collections, and patient charts and reports. All of these components are important and will affect when and where a practice is purchased.
PTS provides buyers with a convenient outline of each practices that is on our Dental Practices For Sale page. We provide information like size, location, the cost of the practice, as well as the technology included in the sale. We also provide potential buyers with insider knowledge of dental competition and patient demographics in and near the practice for sale.
Without a doubt, patients are the future of any dental practice. It is extremely important to look at the current patient load, retention rate, and the longevity of patient commitment.
Cost vs. Return
PTS provides you with the information you need to determine if the return of the practice will suit your lifestyle. Our services include expertise in practice appraisals to determine fair market values. Furthermore, we provide financial assistance for purchase and practice upgrades. Whatever your financial goals are, we will try to find a practice that best fits those goals.
If you have any unanswered questions about who can buy a dental practice, please contact us at any time.