Partnerships have always been a polarizing business model in the dental space. Despite this, it is the most rapidly increasing trend in dental practice ownership. In the last 7 years, multi-doctor practices have jumped from only 42% of the industry to 64% of all dental practices. It has also proven to be an alternative to affiliating with a DSO that can be just as lucrative financially, if not more so, when planned correctly. This course will be solely focused on what has become the most versatile transition alternative available to doctors at all stages of their career. We will discuss the process necessary to evaluate a partnership, addressing all the financial and legal terms necessary for success. You’ll further learn how to avoid legal and tax traps that could potentially cost you millions of dollars in what could be the biggest financial transaction of your life. Objectives and key topics include:
- Associateships and how to determine associate compensation
- Components of an associateship agreement
- Current practice valuation trends and how to determine your practice’s value
- Learn and understand the importance of cash flow projections
- Understand the different structures available when planning a partnership
- Review of profit allocations among partners, and how different distribution formulae affect your bottom line
- Discuss the necessary components of a thorough operating (partnership) agreement
- Determining the role each doctor will have in a new partnership
- Learn about the issues beyond the financial aspects.
- Define your expectations to minimize your disappointments
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