Choosing to become a dentist was the best choice you’ve ever made. Over the course of your career, you’ve gotten to meet and help thousands of people when it came to their health and confidence, and you still feel fulfilled every time a patient sees their new smile in the mirror for the first time. But now, you’re starting to look ahead to the next phase of your life. You want to spend more time at home with your family, so that means you’re ready to sell your practice. You remember how much of a pain it was buying your practice in the first place, and things are bound to be even more complicated now. Even if you find a buyer, you’re going to have to manage the transition between you and the next doctor to ensure all of your patients are well taken care of. The whole idea is a bit intimidating, and frankly, easy to put off.
However, dentists like you now have another option. Rather than selling your practice to another doctor, you can instead sell it to a dental service organization, or DSO. DSO’s have quickly risen in popularity over the past decade or so, and in their mission to make dentists’ life easier, they’ve now made the process of selling a practice simpler than ever.
Find a Buyer Right Now
As we just mentioned, DSO’s are growing. According to the American Dental Association, about 7.8% of dentists are currently part of a DSO, and that number is only expected to get bigger in the coming years. For you, that means it should be easy to find one that is willing to buy your practice. Instead of simply listing your facility and chasing down leads for yourself, you can have the peace of mind knowing that there is a buyer waiting for you, and they’ll be more than happy to give you a fair price.
One of the most delicate parts about selling a practice is transitioning your patients to a new doctor. You end up with a choice: do you step away from the practice all at once or do it gradually? While this might involve some negotiating with another doctor, a DSO will be more than happy to work with you. Want to be out of your practice in a few months? They’ll let you do it. Want to work a limited schedule for the next year or so? No problem. Basically, you get to leave your practice on your own terms, and they’ll make sure your patients get exactly what they need the entire time.
Peace of Mind
The reason DSO’s have become so popular is because they work. They allow a dentist to focus more on patient care as opposed to the day-to-day business operations of a practice. When you sell your practice to a DSO, you can know, for certain, that it will be offering excellent dentistry for many years to come. A DSO will have a vast network of doctor’s and staff to work at your practice, and they’ll be able to keep most of their attention on providing high-quality dentistry, so you can know in your mind that all of your patients are well taken care of.
Selling a practice can certainly be a harrowing experience, but with a DSO, you can get exactly what you want for yourself AND your patients without the headache.
About Workwell Management
Workwell Management is New England’s premier dental service organization, working with world-class practices from all across the region. Headed by Dr. Kevin Guze, who serves on the faculty at the Harvard School of Dental Medicine, Workwell’s goal is to make it easier for dentists to achieve their personal and professional goals, no matter what stage of their career they are at. Are you interested in selling your practice? If so, we would love to speak to you. To get in contact, call us today.