Custom Dental Transitions
Legacy Practice Transitions Provides Comprehensive Dental Transitions.
Every dentist’s career is unique, just like your patients. Patients arrive with different goals and objectives when they come to see you. As their provider, you listen to their needs and desires, gather information, formulate a plan, and ultimately execute a treatment plan to achieve their original goals. Legacy Practice Transitions applies a similar approach throughout our entire process to achieve a successful transition.
When you speak with a consultant at Legacy Practice Transitions, we listen. We listen to understand your needs, your short and long-term goals, and your vision for the next step in your career. Whether you are an older dentist planning for retirement, a younger dentist eager to buy your first practice, or a mid-career professional considering another practice acquisition, Legacy Practice Transitions offers complete solutions for a variety of dental practice transitions that could happen at any point in a dentist’s career. Legacy will outline the options to meet your goals, but the ultimate choice is yours.
The foundation of our process is built upon your individual needs. Through confidential consultations, we gain insight and an understanding of your personal, professional, and financial goals. Armed with this information, we can discuss options, answer your questions and use our knowledge and expertise to work toward the best solution to achieve a successful dental transition process. We will design a custom transition plan tailored to your specific needs so your vision of the future can become a reality! Our Objective-Based Transition Programs are truly designed to provide you with the Quality of Life Choices which you seek.
Legacy Practice Transitions has a proven track record of successfully facilitating partnerships. Our process is especially effective at identifying, aligning, and managing expectations for both parties beginning at our first conversation. Our focus is to accomplish the goals of both parties through a needs-based assessment, not simple convenience. A partnership (link to: partnerships) can be thought of like a marriage for your business. There are many factors that lead to a successful partnership like due diligence, agreements, philosophy, culture, purchase price, and exit strategies. They all play a critical role in the success of a partnership. We use our expertise and creativity to help guide doctors through the legal, financial, and professional aspects of entering into a partnership or shareholder agreement. Not only do we provide entrance strategies, but just as important (or perhaps more so), we also provide nonadversarial avenues of exit possibilities.
Our Associate Placement Program is a powerful tool to help connect doctors with opportunities – both for the host doctor seeking new associates and doctors seeking an ideal associateship position (link to: associateships). Legacy Practice Transitions introduces the opportunity and provides complete consultation to facilitate successful practice transitions that both parties are satisfied with.
Whether you are exploring the possibility of entering an associateship or need to locate an associate, consider speaking with Legacy Practice Transitions. Our team of knowledgeable consultants can provide valuable guidance during this exciting step in your career.
Practice Mergers – For Buyers and Sellers
Merging your dental practice with another trusted dentist or acquiring other dental practices may provide a win-win scenario for all dentists involved. Practice mergers (link to: mergers) are a great way to blend two offices into one location with little additional risk or overhead. At Legacy Practice Transitions, we start with a consultation to understand your long-term goals. Knowing your goals, allows our consultants to discuss opportunities to grow your patient base, increase revenue, reduce local competition, or eliminate managerial stress through a merger practice transition. Whether you are looking to sell your existing dental practice and merge with a local colleague or buy a dental practice to grow your current practice, a practice merger could be a great option. Practice mergers are among the safest and most lucrative of any investment. Stocks, bonds, bitcoin, real estate, and commodities all have inherent risk whereas less than 0.5% of dental practices fail. What other investment tool offers such a high likelihood of success, and an ROI of over 25% typically, and often even 50% or more? Our consultants apply our vast resources, industry expertise, and diligence needed to facilitate a successful merger.
Dental service organizations (DSOs) can be an attractive option for dentists looking to ease the burden of managing a practice. However, the reality of working with a DSO may not always live up to the initial promise. Legacy Practice Transitions can help you understand the potential benefits and drawbacks of working with a DSO (link to: DSO). Our team of experts can help you navigate the financial details of a deal and identify the risks of predatory terms. Whether you are considering selling to a DSO or have already been approached by a company, we are here to help you make informed decisions regarding the direction of your practice. The “structure” of the deal is often more important than the sales price.
Legacy Protection Program
No matter what phase of your career you are in, knowing the current fair market value of your practice is vital for growth, retirement, estate, and financial planning. Dental practice owners incorporate the Legacy Protection Program (link to: legacy protection program) into their practice for planned and unplanned life events.
Our dental practice evaluation program provides you with an annual update that takes into consideration over 25 internal practice factors and external market influences. The yearly value update provides extraordinary value to our LPP clients. As a client, you will always know the current fair market value of your dental practice, one of your hardest-earned assets. Enrolling in the LPP is a must for every doctor who owns a dental practice!
Dental practice evaluation is the process of determining the financial worth of a dental practice. This can be useful for a variety of reasons including knowing the value of your asset, planning for retirement, or evaluating the practice’s market position. At Legacy Practice Transitions, we provide dental practice evaluation (link to: dental practice evaluation) services to dentists who are selling their practice or considering purchasing a new one. However, dental practice appraisal can be useful at any stage of your career.
Receive A Complimentary Consultation
Partnering with Legacy Practice Transitions allows you to work with a company that has a proven record of success in the practice transitions space. Whether we are locating your first associate or structuring a complex partnership, each dentist receives individual attention by a practice consultant. We will be your trusted industry partner for every step of your career.
Our Proven System
We have been providing clients with expert guidance for over 30 years. Legacy Practice Transitions has been assisting dentists in achieving their goals through practice transitions, mergers, and partnerships. We can create custom solutions built around your unique goals and needs. We’ve worked with thousands of dental professionals just like you to create a smooth transition into the next phase of their careers. With our experience in your corner, you’ll be confident that you’re making the right decisions for yourself, your family, and your practice.
Contact Legacy Practice Transitions to begin the conversation today! See the Quality of Life options which our Objective Based Transition Programs can offer you and your family!