Planning Today is the
Foundation of Future Success
An accurate valuation of a dental practice is one of the most important and complex components of a transition. The fair market
value of a dental practice is not equated using a simple equation or
multiplier. A reliable practice valuation demands a comprehensive
understanding of both the objective and subjective factors that
comprise the value of a dental practice.
Dr. Watson emphasizes that the practice valuation is not just a matter of examining the financial records of the practice. “A practice’s
true value is composed of many factors, including the location,
equipment, staff, patient base, and cash flow,” he notes. “Only
when every facet of the practice is evaluated can you determine its
fair market value.”
The team at ADS Watson, Brown & Associates encourages dentists
to begin planning far in advance of any transition to build a foundation for the best possible outcome. The first step in the planning
process is to have your practice appraised. An in-depth analysis of
your practice is key to determining whether you are well-positioned
for a successful transition. Pre-transition planning can identify
areas in the practice that need improvement and allow time to
develop and implement strategies that enhance the value of the
practice. You may be advised to attract new patients, adjust your
fees, evaluate your office lease or real estate options, properly structure associate agreements, or evaluate staff salaries. Conducting an
Photo by Ray Bryant, Bryant Studios
By focusing on service, integrity, and advocacy, ADS Watson, Brown & Associates assures that your transition needs will be
handled competently, equitably, and with your best interest as a central priority.
evaluation early will help you determine the most favorable timeline for the transition and proceed with confidence.
ADS Watson, Brown & Associates also helps clients with contingency planning for an unexpected death or disability. Pre-planning
for an unexpected death or disability is a preventative measure to
ensure that, in such an event, all facets of the sale of your practice
will be handled expediently and efficiently to preserve the practice
and maintain the practice value. This specific, step-by-step plan
protects your family members from shouldering a difficult burden
during a highly emotional time and ensures that such matters are
being handled competently and according to your wishes.
Allies in a Successful Transition
You do not have to – and should not – manage the complexities
of transition planning alone. There are clearly many considerations
involved in total preparedness. However, the single most important
step may be to select a team of professional planners known for
integrity who are also market leaders with a proven track record in
successful dental practice transitions. By focusing on service,
integrity, and advocacy, ADS Watson, Brown & Associates assures
that your transition needs will be handled competently, equitably,
and with your best interest as a central priority.
For more information, call ADS Watson, Brown & Associates
at (469) 222-3200 or visit ADStexas.com.
www.northtexasdentistry.com
|
NORTH TEXAS DENTISTRY
9