The Rosen Dental Transitions Podcast

Attorney Jonathan Eskow (part 2)

Part two of a chat with lawyer Jonathan Eskow from the Eskow Law Group, who delves into the intricacies of buying, selling, and managing a dental practice. They discuss key checkpoints and potential roadblocks in the acquisition process, the importance of initial due diligence, and the necessity of obtaining financing approval. They emphasize the need for coordinated efforts among all parties involved, likening the process to a conductor leading an orchestra. They also share practical advice for both buyers and sellers, including how to handle real estate considerations and the importance of planning ahead to ensure a seamless transition. The episode highlights the importance of collaborating with knowledgeable advisors who can guide one through the complexities of dental practice transitions.
 
Topics
 
00:34 Key Checkpoints in the Dental Practice Transition Process
01:02 The Importance of Financing Approval
01:46 Managing Multiple Streams in Tandem
04:07 The Role of Due Diligence and Legal Documents
07:22 Real Estate Considerations in Dental Practice Transitions
11:31 Planning Ahead for a Successful Transition
19:04 The Final Steps Before Closing
27:31 Conclusion and Contact Information

Attorney Jonathan Eskow (part 1)

Dave chats with attorney Jon Eskow from the Eskow Law Group to discuss the detailed process of buying, selling, and managing a dental practice. They emphasize the importance of proactive communication and setting clear expectations throughout the transaction to ensure a smooth process. Key topics include the value of early involvement of legal advisors, understanding the critical elements of a letter of intent, navigating real and perceived risks, and the importance of parallel processing of legal, financial, and operational due diligence. Practical examples and personal anecdotes are shared, highlighting the complexities and nuances of dental practice transitions.
 
Topics
00:24 Guest Introduction: John Eskow from Eskow Law Group
00:33 The Stress of Recording at Month-End
01:06 Understanding the Dental Practice Transition Process
02:36 Holistic Approach to Deal Management
03:30 The Complexity of Dental Practice Transactions
05:50 Setting Expectations and Proactive Communication
06:23 Seller and Buyer Perspectives in Practice Sales
20:39 Importance of Exclusivity in Letters of Intent
23:16 Understanding Real vs. Perceived Risk
23:29 The Importance of Prequalification
24:49 Submitting an Offer and Due Diligence
26:18 Letter of Intent: Key Components
26:52 Handling Work in Progress
27:30 The Ogre Analogy: Layers of Due Diligence
32:54 Non-Binding Nature of Letters of Intent
39:10 Parallel Paths in the Transaction Process
43:48 Conclusion and Contact Information
More at https://www.eskowlawgroup.com/

Nancy Kagan Returns: The Changing Landscape of Dental Practice Management

In this episode of the Rosen Dental Transitions podcast, host Dave Miller welcomes back Nancy Kagan from Rosen Summit Dental Advisors. Nancy discusses her recently published ebook, which provides comprehensive guidance on managing a dental practice. The conversation covers the evolving challenges in dental practice management over the past 18 months, including staffing issues, rising payrolls, consumer spending behavior, and the importance of being actively engaged in the business side of a practice. Nancy elaborates on the contents of her ebook and its utilization as a vital resource for new administrative staff and practice owners. The episode emphasizes the significance of proper training and adaptability to ensure the smooth operation and profitability of a dental practice.
 
Nancy’s book on sale at rsdentaladvisors.com
 
Topics
 
00:00 Introduction to Rosen Dental Transitions Podcast
00:38 Challenges in Dental Practice Management
03:33 Generational Shifts in Career Mentality
07:34 Introducing the New Ebook
07:59 Creating a Dental Administrative School
11:35 The Importance of Proper Training
23:51 Who Should Read the Ebook?
27:59 How to Get the Ebook and Final Thoughts

Live from Westboro: Navigating the Transition Market

Recorded live at a conference in Westboro, Massachusetts, this panel discussion hosted by David Miller from Rosen Dental Transitions, along with experts Mark Rosen, Blake Cohen, and John Eskow, covers critical aspects of dental practice transitions. The panel emphasizes the importance of clean financial records, appropriate equipment investments, and understanding the valuation based on EBITDA and cash flow. They also discuss the advantages and risks of selling to private buyers versus DSOs, and highlight the importance of early planning and involving advisors in the process. Various transaction structures, tax implications, and the significance of associate employment agreements are also explored.
 
Topics
 
00:00 Welcome and Introduction
01:04 Meet the Panelists
02:35 Importance of a Rapid Sale Plan
04:14 Panelist Introductions and Roles
07:33 Private Practice vs. Corporate Sales
11:00 Buyer Profiles and Considerations
24:54 Emotional and Financial Aspects of Selling
30:50 Understanding Practice Valuation
38:14 Understanding Bank Lending Practices
38:36 The Importance of Documenting Expenses
39:07 Evaluating Business Expenses
40:01 Qualitative Factors in Business Valuation
40:41 Defining DSOs and Their Impact
45:00 DSO Market Trends and Lessons Learned
48:09 DSO Deal Structures and Economics
01:00:10 Risks and Considerations in DSO Sales
01:05:39 Navigating the DSO Transaction Spectrum
01:09:00 Filtering Misinformation and Making Informed Decisions
01:11:46 Navigating Rhode Island's Dental Market
01:12:40 The Value of Technology in Dental Practices
01:16:15 Financial Considerations for Dental Practice Sales
01:24:09 Insurance and Patient Management Strategies
01:29:31 The Role of Advisors in Dental Transactions
01:35:55 Impact of Interest Rates on Dental Practice Values
01:44:17 Real Estate and Associate Contracts in Dental Sales
01:48:03 Final Thoughts and Q&A

Navigating Transitions: RDT Live in Hartford

In this live recording from Hartford, Connecticut, Dave Miller of Rosen Dental Transitions leads a panel discussion on the complexities of the dental practice transition market. The experienced panel, including Mark Rosen, John Eskow, and Blake Cohen, covers important topics such as DSOs, EBITDA, private and partnership transitions, and the common scenarios faced by dental practitioners. The panel emphasizes the importance of proper planning and evaluating different transition options according to individual needs and business circumstances. They also delve into the tax implications, the impact of real estate on sales, and share strategies for improving practice profitability in a changing market landscape.00:00 Introduction and Event Overview02:26 Panel Introductions06:49 Understanding the Transition Market10:56 Buyer Profiles and Market Trends13:05 Challenges and Opportunities in Dental Practice Transitions15:49 Financial Considerations and Practice Valuation19:28 Preparing for a Successful Transition43:59 Specialty Practices vs. General Practices44:16 Geographic Challenges in Selling Practices45:05 Internal Transitions and Planning Ahead46:58 Evaluating and Improving Practice Profitability47:43 The Role of Brokers and Appraisals49:45 Simulated Sales and Practice Valuation50:24 Bringing in Associates and Financial Considerations53:09 Work-Life Balance and Dropping Insurances54:45 Timing and Strategic Changes Before Selling58:55 DSO Transactions and Economic Considerations01:11:07 Equity Components in DSO Deals01:22:51 Tax Implications in Practice Sales01:24:57 Understanding Tax Complexities in Practice Sales01:26:42 The Importance of Take-Home Pay01:29:17 Real Estate Considerations in Practice Sales01:33:52 Navigating Profitability and Debt in Practice Sales01:38:51 Planning for Unexpected Events01:53:58 Marketing Your Practice for Sale
Dental

Experts On Preparing for Dental Practice Transitions

In this episode of the Rosen Dental Transitions Podcast, host Dave Miller is joined by Jesse Koski, BJ Kaucher, and Dave Kaucher to discuss crucial aspects of buying, selling, and managing dental practices. The episode dives into seldom-discussed yet vital topics, such as knowing when you're ready to transition out of your practice both mentally and emotionally. Dave Miller highlights the importance of proper planning and assessing your readiness years in advance. BJ Kaucher of Kaucher and Associates offers insights on the financial and emotional readiness required for selling a practice, while Dave Kaucher of Spectrum Wealth Advisors elaborates on the importance of a robust retirement plan. They also discuss unexpected situations, the significance of practice valuations, and the value of their collaborative approach to provide seamless transitions for their clients.Topics01:01 Meet the Guests: Jesse Koski, BJ Kaucher, and Dave Kaucher02:51 BJ Kaucher's Journey in Dental Accounting08:20 Dave Kaucher on Spectrum Wealth Advisors12:44 The Importance of Retirement Planning for Dentists13:48 Emotional and Financial Readiness for Selling a Practice24:06 Unexpected Transitions and the Need for Succession Planning25:38 The Importance of Valuation in Dental Practices25:55 Steps After Getting a Valuation27:44 The Rapid Sale Plan and Estate Planning29:54 Seamless Valuation Process31:10 Financial Stability and Retirement Planning32:17 Real-Life Example: When to Walk Away33:51 The Role of Relationships in Practice Transitions35:06 Determining the Right Time to Sell38:18 Preparing for a Smooth Transition41:35 Enhancing Practice Value44:48 Final Advice for Practice Owners49:12 Contact Information and Closing Remarks
Dental

Decoding Dental Practice Valuation with Mark Rosen

Dave Miller, host of the Rosen Dental Transitions podcast, discusses the valuation and sale of dental practices with special guest Mark Rosen, managing partner of Rosen and Associates. They address the influx of unsolicited offers dentists receive, the importance of understanding practice value, and the reasons practice owners seek valuations. The discussion highlights the shift from valuing practices based on collections to a more sophisticated EBITDA-based approach, driven by corporate and experienced buyers. Practical advice is offered on cleaning up expenses and distinguishing between personal and business expenses to maximize practice value. Key challenges such as rising staff costs, technological expenses, and rent are discussed, along with strategies to mitigate these and other costs. The podcast emphasizes strategic planning and actively managing transitions based on one's own terms rather than reacting to unsolicited offers.Topics00:24 Meet Our Special Guest: Mark Rosen00:36 Understanding Practice Value in Today's Market02:51 The Importance of Accurate Financial Records03:33 Changes in Valuation Methods Over Time04:52 Impact of Corporate Buyers on Practice Sales09:34 Cleaning Up Your Books for Better Valuation14:54 Key Expense Categories to Monitor20:24 Planning Your Transition Timeline26:37 Final Thoughts and Contact InformationEpisode Titles and Show Notes
Dental

Mastering Dental Practice KPIs with Nancy Kagan

In this episode of the Rosen Dental Transitions podcast, host Dave Miller interviews Nancy Kagan from Rosen Summit Dental Advisors. They discuss success stories and best practices in buying, selling, and managing a dental practice. Key focus areas covered include daily and essential KPIs such as adjustments, production, collection, provider credits, and accounts receivable. They also delve into optimizing hygiene department performance, recare strategies, and addressing the challenges of case acceptance. Practical tips and easy-to-implement strategies are shared to help dental practice owners efficiently track and manage these vital metrics. Nancy also offers remote services to help identify and fix potential issues in practices.Topics00:35 Meet Nancy Kagan: A Dental Industry Veteran01:48 The Evolution of Rosen Summit Dental Advisors02:59 Hands-On Consulting vs. Coaching05:34 The Importance of Understanding KPIs06:32 Navigating Owner-Manager Dynamics07:38 Common Mistakes in Dental Practice Management18:21 The Critical Role of Adjustments26:58 Tracking Production and Collection30:56 Understanding Patient Objections31:17 Simplifying Data Collection31:42 Case Acceptance and Collection Strategies34:03 Improving Communication with Patients35:20 Managing Multiple Associates36:19 The Importance of Value in Treatment37:43 Key Performance Indicators (KPIs) for Practice Owners41:20 Provider Credits and Accounts Receivable46:46 Hygiene Department KPIs52:33 Recap and Final Thoughts
Dental

Sam Keif, CEO of the Gaisce Group

Sam Keif is the founder and CEO of the Gaisce Group. He can be reached at sam.keif@gaiscegroup.com or 603-819-8158.More at https://www.gaiscegroup.com/
Dental

Dr. Pamela Maragliano-Muniz: Re-discovering your passion for dentistry and reclaiming your dental practice

Dr. Pamela Maragliano-Muniz is a board-certified prosthodontist and earned her certificate from the UCLA School of Dentistry after obtaining her D.M.D. from Tufts University School of Dental Medicine. She is also a former dental hygienist: she earned her B.S.D.H. degree from Northeastern University and the Forsyth School for Dental Hygienists, A.A.S. in Dental Hygiene and A.S. degree in Math and Science from SUNY Orange in New York.She can be reached by email at pmuniz@endeavorb2b.comOn IG: @pamela_maraglianoFor more info please visit https://rosendentaltransitions.com/To contact Dave: Dmiller@rosendentaltransitions.com
Dental