The Practice Optimizer Experience

by | Oct 5, 2023 | Uncategorized | 0 comments

Optimal Planning & Timing

Learn more about DDSmatch’s Practice Optimizer Experience™, a proven process to help you plan and prepare for a future transition.

Many practice owners tend to associate transition planning with the imminent sale of their business; however, as we navigate through life, we learn that circumstances can change unexpectedly. Whether it’s a health issue, injury, sudden diagnosis, or a passing, life events can prompt a transition without warning. While health is a common trigger, there are many other factors to consider when weighing a practice transition, particularly with the increase of corporate dentistry.

One crucial aspect in deciding on the timing is understanding your financial readiness. A well-thought-out transition plan not only safeguards your legacy but keeps you in control, ensuring the well-being of your family, patients, and staff. Achieving peak performance for your practice is pivotal in securing the maximum value for the legacy you’ve tirelessly built. In today’s shifting market, influenced by DSO’s, DPO’s, Regional Groups, Individual Buyers, and Associate Buy-ins, understanding your EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) is imperative, however reassessing when the optimal transition occurs, has shifted to much earlier than traditional timeframes.

DDSmatch created the The Practice Optimizer ExperienceTM (POE) in 2015 aimed at dentists with a priceless “peace of mind” benefit for themselves and their legacy, well before the transition. Ideally implemented 2-7 years prior to any transition, the POE Process involves nine critical steps:

  1. CONCEPTUAL TRANSITION EXPERIENCE – performed by DDSmatch Professional
    • We help visualize your future, set achievable goals and devise strategies to start you in the direction of your post-transition dreams, well in advance of your intended transition timeframe. We will walk through how our qualified dental advisors will work to optimize your practice and enhance your digital marketing and web presence.
  2. TRUSTED VALUATION ANALYSIS – performed by Certified Valuation Analysts
    • Your practice will be analyzed by independent third-party Certified Valuation Analysts with dental industry expertise. The findings of Blue & Company are fair, reliable, and respected by banking institutions. This analysis leads the financial process for all parties.
  3. REAL ESTATE REVIEW – Review of real estate and/or lease
    • A review of your lease (if you are renting) or real estate (if you own) lets you know where you stand. For your building, DDSmatch provides Broker Price Opinions utilizing Modum Technologies Real Estate Appraisers, which yields a commercial valuation reporting service known for its quality.
  4. IDEAL RETIREMENT CALCULATION – Avantax Retirement Check-Up
    • Financial Review of all investments and future income to establish security in timing and planning for future transition. This can be done in tandem with your current advisor or a supplement as a third-party opinion toward an ideal future.
  5. DENTAL INSURANCE NAVIGATOR – Insurance Negotiation Report
    • Comprehensive and customized consultation with trusted PPO experts on the current Dental Insurance plans in place in your practice & isolation of new plans to consider or plans to discontinue to achieve your ideal payor mix.
  6. ESTATE PREPAREDNESS GAMEPLAN – performed by a local attorney
    • A personal introduction to a DDSmatch endorsed Attorney to update or create critical legal documents to prepare and protect the practice assets and value in the event of an unforeseen death or disability to the owner
  7. CLINICAL OPPORTUNITY BLUEPRINT – performed by DI & DDSmatch
    • DDSmatch will collaborate with Dental Intelligence to analyze your data to reveal your practice’s potential in a detailed report. The Clinical Opportunity Report reveals opportunities, detailing production mix and intensity, new patient flow and more to give potential buyers confidence in their future success.
  8. CRITICAL METRICS ANALYSIS – Dental Intelligence Growth Report
    • Dental Intelligence uses sophisticated software to retrieve practice data to analyze six key metrics resulting in a detailed report that will help you save time, help more patients & increase productivity. As DI, says, what gets measured gets improved. Your DDSmatch Professional will meet with you at regular intervals to discuss the findings
  9. THE TRUSTED TRANSITION PROCESS – performed by DDSmatch
    • When the time is right, The Trusted Transition Process provides a clear and consistent path to help you transition your practice, while maintaining the legacy you worked so hard to establish. We offer a complete range of professional services, which includes a full business valuation, to provide leadership from the start of your transition to the successful finish.

The decision to transition your practice is a multifaceted one, encompassing not only financial considerations but also your identity mindset, health, personal circumstances, and the legacy you wish to leave behind. The Practice Optimizer ExperienceTM intentionally keeps you in control of your future, ensuring that you are well-prepared for the optimal transition time, providing peace of mind for you, your family, patients, and staff.

Be ready to transition when the time is right and know all your options. It starts with a confidential conversation.

John Waco

208-661-1061

jwaco@DDSmatch.com

Click Here to schedule a complimentary, confidential conversation about buying, selling a practice, an unsolicited offer or the sell-side DSO representation.