Whether hiring a new dentist or retiring, having a smooth transition in the dental practice is critical for everyone involved. Even when everything is planned ahead of time, it can be difficult to maneuver the transition in ways that protect the existing practice. Protecting yourself when evaluating buyers and hiring consultants is critical as a dental practitioner. Dental practice transitions occur when a dental practice hires a dentist who may bring existing clients with them. Additionally, transition takes place if the owner of the practice decides to sell their business.
Most dentists sell their dental practice as a means of preparing for retirement.
Another way to look at it is that relationships motivate ADA practice transitions. For the transition to be successful, current and, new patients must feel at ease. Relationships between a new provider and the current practice staff members should also be developed or maintained. Dental practice transitions may last a few months or several years based on a transition process that aligns with the practice’s long-term goals. The stakes are high during any transition in a dental practice. If the transition process is successful, patient care must also be maintained even though the buyer and seller exchange money.
