Transitioning from being an owner to being an employee is a huge shift financially and psychologically that many practice owners aren’t equipped to face. We’ve addressed some of the psychological effects in other episodes, so today, we are focusing on the financial changes you can expect, especially if you sell to a DSO.
The culture, compensation, tax write-offs, patient insurance plans, and more are all formed by the person who is in control. They decide what to buy and what to spend, what not to buy and what not to spend. As the seller, that is no longer you. That can be a tough pill to swallow if the new owner doesn’t share the same values as you (and yes, there are some unfortunate horror stories).
Earl M. Douglas, DDS, MBA, BVAL joins us again to address what sellers can expect after selling to a DSO. Dr. Douglas began his transition career in 1982 after selling his own dental practice. His company, ADS South, LLC, provides consulting services in the Southeast, from Louisiana to Washington, D.C.
Dr. Douglas has extensive training and experience in both clinical dentistry and business. He has created professional software for the valuation and analysis of dental practices which is used by many professional brokers and lenders. He is a contributing author for Dental Economics and he has presented at numerous seminars for Dental Economics and state dental associations. He is also a member of the Practice Valuation Study Group.
Questions addressed on this episode:
Learn more about Dr. Douglas online at: adssouth.com or contact him via email at: Earl@ADSsouth.com or by phone at: 770-664-1982
Learn about dental practice transition specialists in your area by messaging: office@longinthetooth.info
Long in the Tooth provides non-clinical gems of wisdom for older dental practice owners. Learn more about this podcast at: longinthetooth.info