Dental partnership deadlock can happen when co-owners of a dental practice can’t reach a middle ground on major business decisions, and their practice gets stuck as a result. This can occur when there’s an equal split in ownership and no built-in way to break a tie.
Deadlocks don’t always...
At some point in your career of owning a dental practice, you may need to hire appraisers to determine a fair market value for the practice, such as when you bring in or cash out a partner in the practice, sell the practice to another organization upon your retirement, or obtain financing...
Trade secrets in dentistry are techniques and products that improve patient care and reduce discomfort. As the owner of a dental practice, protecting your trade secrets can help you distinguish your practice, attract new patients, and improve patient satisfaction. Working with a dental attorney can help you identify your trade secrets...
As the administrator of a dental practice, managing employees can be one of the most challenging aspects of your day-to-day job. A dental hygienist may be underperforming, showing up late, or engaging in other activities that are harming your dental practice. Understanding how to legally terminate underperforming dental hygienists can help you...
“Should I join a dental PPO?” is a question many dentists ask. Deciding whether joining a preferred provider organization (PPO) makes business sense for your dental practice can be difficult. Understanding the pros and cons of joining a dental PPO can help you make an informed, strategic decision.
Once...
Whether you’re considering buying or selling a dental practice, you want to get fair value in the transaction. Determining the practice's fair market value is one of the best ways to avoid making a financial mistake.
How do you determine the value of a dental practice? There’s no set...
If you flip through the dental section of a phonebook (assuming you can still find one), you’ll notice that many dental practices have names like Simons, Alvins & Theodore. This is because many dental practices are partnerships.
There are plenty of benefits to creating a partnership. However, those benefits...
Any business should have a plan. Business plans help guide the ship that is the business and set forth concrete steps to develop and grow a thriving business set up for long-term success. A dental practice is no exception. When you are starting out your dental practice, be sure to create...
