Each dental transition is unique. This lecture offers insight on how to generate success by creating opportunities that are fair and equitable to both buyers and sellers.   Upon completion of this session, attendees should be able to: • Understand the best timing of a sale of practice for a buyer and a seller. • Learn the process that produces successful, equitable partnerships. • Determine if a 100% walk-away sell, partnership, staggered sale, or private equity sale is the best path. • Set expectations for all parties involved in the practice transition process. • Determine how to interview buyers and sellers to ensure they are the right fit for you.

New industry trends, inflation, rising interest rates and tax policy changes are dramatically impacting the business of dentistry; coupled with the increase in private equity offers, there’s a lot being thrown at dental practice owners. You must decide how to maximize the largest asset you own—your practice. During times of uncertainty and opportunity, it’s more important than ever to have a financial plan that can guide you toward your goals. This session discusses how valuations and transitions can impact your long-term financial plan.  Participants will receive a thorough outline of data points to analyze when contemplating a private equity offer. By understanding the true value of a dental practice, they will walk away equipped to look at offers skeptically and gain realistic expectations of a practice transition.

With volatility and the turbulent economy impacting every business, the first 10 years of practicing dentistry are critical in not only perfecting one’s craft but solidifying one’s financial position for the long run. This course offers an opportunity for residents, associates as well as practice owners to flip today’s uncertainty into a roadmap for future financial security.

In this content-rich, interactive course, attendees will learn proven formulas to leverage ownership for building wealth, improving cash flow, getting ahead on pension and retirement planning, plus the short- and long-term benefits of various savings environments. Using real case studies, this course will empower dentists with the knowledge they need to reach financial freedom. It will compare dental practice owners’ performance metrics to give attendees tangible examples they can leverage to evaluate their own situation.

Upon completion of this session, attendees should be able to:

•          Identify tax strategies to improve cash flow and support market volatility

•          Set a realistic business and personal financial plan to help you meet your long-term goals, even through times of adversity

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All too often, the decision on if and when to own a dental practice becomes an emotional journey rather than a business decision, with massive school debt often obscuring the big picture. This first-of-its-kind half-day session will offer dental students, residents and associates the ability to expand one’s lens to fix their focus on long-term success, with the full disclosure of both the benefits and obstacles of owning a dental practice. The Practice Ownership Program will consist of two lectures, a panel discussion and a meet-and-greet networking session with experienced practice owners. This event will also include lunch.

Owning Your Dental Practice: The Bridge to Financial Freedom
Mr. Charles Loretto

The program will begin with a presentation from Cain Watters & Associates and NDP Partner Charles Loretto. Taken from over 35 years of experience advising dentists on how to financially reach their goals, this lecture provides attendees a realistic view of practice ownership versus an employee. Charles will weigh the risks, consider debt and evaluate each option associated with becoming a new owner, entering a partnership, buying an existing practice or working as a partner in a corporate dentistry environment.

During this lecture, attendees will understand the necessary qualifications needed before starting a new practice or finding an existing opportunity. It will provide details on the key elements to study before purchasing a practice like location, patient mix, type of transition and more, and how to negotiate the deal financially once you find the practice of your dreams.

The Grand Slam: Early Years of Private Practice
Dr. Mark Hyman

Dr. Mark Hyman, an adjunct full professor and Special Assistant to the Office of the Dean at the University of North Carolina Adams School of Dentistry, will share the keys to managing a successful practice and providing world-class service. Dr. Hyman will leverage his 32 years of experience in full-time, real-world private practice as well as teaching and advocating for relationship-based optimal care dentistry.

Attendees will walk away from this course knowing how to implement the critical steps to renew a practice, discover the potential issues involved in handling new patients and utilize new techniques for keeping the team focused and enthused.

Panel Discussion & Network Session

Ask the questions that are really on your mind in this panel and meet-and-greet networking session with both students and current practice owners. Hear their stories, experiences and insight to get real-life stories from doctors who have walked this path themselves.

With new dentists, established practice owners and dental-specific professionals together in one room, this program is packed with insight and tools to kick off any dental student’s career.

Upon completion of this session, attendees should be able to:

·       Discover the financial benefits of ownership versus associateship.

·       Map out steps to help students market themselves and find the perfect practice that will meet their transition goals.

·       Understand the nuances and complexities that come with practice ownership.

·       Determine proven techniques and strategies to successfully operate a practice and provide high-quality service to patients.

Do you remember the point in your career path when you decided that practice ownership was right for you? What areas were possible roadblocks? Did you have a mentor that impacted your decision, and would you like the opportunity to offer that perspective to new doctors?

All too often, the decision on if and when to own a dental practice becomes an emotional journey rather than a business decision, with massive school debt often obscuring the big picture. This first-of-its-kind half-day session will offer dental students, residents and associates the ability to expand one’s lens to fix their focus on long-term success, with the full disclosure of both the benefits and obstacles of owning a dental practice.

Current practice owners are invited to join the Practice Ownership Program at 12 p.m. Take this opportunity to meet with future owners, share your experience and gain an inside look at the questions and concerns that dental students may have as they begin their careers.

By attending this program, you’ll engage in a panel discussion with other practice owners to hear their stories and answer the ownership questions that are on the minds of new doctors. You’ll also participate in a networking session with students, residents and associates to share your experience and meet with individuals who may be looking for the right practice opportunity.

This event also includes lunch.