course on how to own multiple dental practices

Can I own multiple dental practices?

While there are certainly advantages to owning multiple practices, in our experience they are usually outweighed by the challenges and risks. For some, multiple ownership is a great way to create more wealth and income and improve their quality of life.

Can you own multiple medical practices?

With a multi-physician practice, you can rely on multiple networks and the collective visibility of each physician. This means that the practice will usually have more built-in referral sources and a healthy patient base to draw on.

How profitable is owning a dental practice?

On average, general practices are bringing in $771,000 in annual revenue and specialists are bringing in $1.1 million. So why aren't dentists making more money? The answer is simple: overhead. Both GPs and specialists are spending 75% of their annual revenues on overhead costs, leaving only a 25% profit margin.

What multiple do dental practices sell for?

Dental practices and DSOs are commonly sold for a multiple of EBITDA that ranges from 4 times EBITDA, to (in some rare cases) 15 times EBITDA or more. Based on today's dental practice and DSO valuation multiples, every $1 saved on procurement can add $5 – $15 to your practice's value.

How do dentists make millions?

10 EASY WAYS DENTISTS CAN MAKE MORE MONEY IN 2021TAKE CONTROL OF SUPPLY COSTS. ... PERFORM FLUORIDE TREATMENTS ON ADULTS, TOO! ... NEGOTIATE THOSE PPO FEES. ... CREATE A SYSTEM FOR RADIOGRAPHS. ... MOVE TO 50-MINUTE HYGIENE APPOINTMENTS. ... TALK ABOUT NIGHTGUARDS. ... ADD AN ASSOCIATE. ... USE SUBSCRIPTION SERVICES FOR PATIENT RELATIONSHIP MANAGEMENT.More items...

What are the most profitable dental procedures?

While root canals can be difficult to market, they're the most profitable dentistry procedure.

What percentage of dental practices fail?

Dentists should feel confident that they are poised to be successful in a great profession in which there is a failure rate of less than 1% because they have invested several hundred thousand dollars in themselves-the wisest investment they could make.

How do you calculate the value of a dental practice?

In this method, you must divide your net present value by a capitalization rate to determine your total dental practice valuation. This capitalization rate can range between 15% and 30% depending on your specific dental practice type and size. For example, smaller businesses typically use rates between 20% and 25%.

How is dental EBITDA calculated?

It is calculated by multiplying the amount of revenue or sales a business makes by the valuation multiple.Revenue X Multiple = Value of the Business.$700,000 X 0.65x = $455,000.SDE X Multiple = Value of the Business.$850,000 X 1.70x = $1,445,000.EBITDA X Multiple = Value of the Business.$500,000 X 1.63 = $815,000.

How do you value oral surgery practice?

Average fair market value to collections looks at the sales price relative to the amount of annual revenue, usually over the last 1-3 years. For example, if an oral surgery practice is collecting $1,000,000 sold for an average of 68.57%, the sales price would be $685,700.

Can you manage more than one practice?

Managing more than one successful practice requires a different skill set. Whether you’re looking to manage two locations or build a small empire of offices , you’ll need to rise to meet new challenges that did not exist at the solo practice level.

Is practice growth accidental?

I believe practice growth should not be accidental; it should be intentional. Well, that philosophy applies even more to owning multiple locations. I encourage you to feed your inner entrepreneur by owning multiple locations, as long as you are intentional about it. Cheers,

Seminar content

This two-day seminar is geared towards dentists and practice executives who currently manage many locations, as well as those who aspire to own and manage a larger enterprise of practices. Unlike any other group seminar or DSO conference, this course teaches the ins and outs of advanced practice management.

Location

The Group Ownership Seminars are held in our San Antonio, TX headquarter office.

Our promise to you

The Breakaway Seminar experience will be one of high value. You will walk away with refreshingly powerful views of the business side of dentistry, and you will not regret the time you invested to attend these events. You will receive straight-to-the-point best practices without undue outside influences.

Different sizes of DSOs

DSOs actually come in a number of different shapes and sizes, so that big corporate giant you’re thinking of is not always an accurate representation. In fact, a small DSO can be anywhere from three to twenty locations, so even a small local dentist who has opened just three or four practices is a small DSO.

Six goals you need to achieve before opening multiple practices

Before you consider expanding, take a look at your current practice, or your “flagship” practice and take stock to see how you’re doing. Your first practice needs to be in excellent shape, running smoothly, and performing well before you can even consider expanding.