If you plan to retire and pass the reins of your dental clinic to an associate or merge your office with another practice, Arkansas-based Level 5 Dental Consulting can use their expertise to ensure your dental practice transition is as stress-free and rewarding as possible. Their knowledge comes from years of experience providing management consultation services to dentist industry professionals, and they’re happy to share it to ensure your conversion is successful.
3 Tips For A Smooth Dental Practice Transition
Define Your Goals
If your dental practice transition is due to retirement, decide how you want to spend your remaining time in the office. Figure out what dentistry services you enjoy most at this point in your career so you can provide patients with the best care during the conversion. You also should have a mentorship program so new associates or partners can provide your patients with excellent dental care after you leave.
Determine A Successor
If new management will be chosen internally, evaluate the skills of your team to determine who is most qualified to take over. Start this process six months to a year before your planned departure to let the candidate adjust to their new role in the office. During this time, evaluate their business approach, management style, and handling of office functions like outsource billing to make sure you’ve chosen the best person for the job.
Get Paperwork In Order
If you are merging your practice with another office or handing over ownership, make sure you have the proper paperwork prepared. The team at Level 5 Dental Consulting will advise you on practice valuation and anything else you need for the dental practice purchase.
If you plan to change the business dynamic of your dental practice, Level 5 Dental Consulting can help. In addition to excellent dental practice transition assistance, they provide dental practice management advice that will ensure the continued success and profitability of your clinic. To schedule an appointment, call (501) 483-3939 or (888) 907-1937. You also can contact them through their website, where you’ll find more information about their many services that will enhance your business.