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Practice Transitions

Practice Transition Services | Just for Dentists

Cost Sharing

Cost Sharing Arrangements

Practicing in a group arrangement is the best way to meet the challenges that dentistry will face in the future.

Reasons for dentists to practice in a group:

  1. Potential for more income through a more efficient utilization of staff and equipment.
  2. Opportunity for specialization, where one dentist can concentrate on a specific area of interest, while the other dentist would look after the general dentistry.
  3. Greater flexibility to take time off.
  4. Opportunity to generate more business through expanded hours.
  5. Greater financial security through buy-out arrangements for events such as retirement, disability, or death.
  6. Built in transition where the senior dentist makes arrangements with the younger dentist to take over the practice on retirement.
Practicing in a group arrangement is the best way to meet the challenges that dentistry will face in the future.

While marriages are made in heaven and supposed to last a lifetime, practice relationships, on the other hand, are programmed to end at some time in the future. A triggering event to end the relationship might be retirement, practice relocation, death or disability. The most important document in a group practice is a buy/sell agreement to ensure an orderly transition.

Especially when the group practice involves family members, it is important that the business relationship is reasonable, fair, and well documented. Maintaining the family harmony is of paramount concern in family practice transitions.

Our services to help you obtain the perfect cost sharing arrangement include:

  1. Helping you answer the question: How would a cost sharing partner be of benefit to me?
  2. Assessing the strength and potential of your practice to determine whether it is a good candidate for cost sharing.
  3. Helping you select the best cost sharing structure.
  4. Implementing a successful cost sharing mechanism.
  5. Assisting in setting up effective buy/sell arrangements.
  6. Offering you our special expertise in dental transitions involving family members.

Use The Dentist’s Toolbox for cost sharing guides.

Contact us today for a free consultation.