Dental Practice Transitions Handbook

An Insider's Guide to Buying, Selling, Associateships, and Partnerships

by H.M. (Hy) Smith, MBA

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Any transition activity—buying, selling, or associating in a professional practice—is one of the most important events that will happen in your professional career. Making a mistake in the process can have long-lasting effects on any or all of the parties to a transition.

Topics Covered:

• Demographics in Dentistry
• Determining Practice Value
• Definitions of Value
• Systems as Risk Factors
• Seller’s Issues and Concerns
• Buyer’s Issues and Concerns
• Associateships, Partnerships, and Practice Structure
• Transition Options
• Tax Implications
• Solo Group
• Transition Planning and Requirements

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Endorsements

"If you now or ever will own, sell, or work in a dental practice this book is a must read. Hy's decades of experience in creating WIN-WIN-WIN (seller-buyer-patients) transactions is yours in a clear, concise, and entertaining account. Wherever you are in your career, the tools to create your ideal future lie within these pages."

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"In my long experience of working with dentists at every phase of their professional careers, I have found that finding values-driven WIN-WIN advice in transitions to be difficult and frustrating. At the Pride Institute, we trust Hy Smith's integrity and expertise! Dentists deserve good, fair information and counsel that supports their transition choices. This book delivers."

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"No one knows more about buying or selling a professional practice than Hy Smith. My own transaction benefited greatly from his knowledge and thirty years of experience. I can't imagine anyone buying or selling without consulting this book first."

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"Buying or selling a practice is full of pitfalls. Trying to do so without the help of a consummate professional like Hy Smith is a folly. My own experience couldn't have been better, thanks to his firm. I would urge any professional to read this book and consult with Hy Smith before taking action."

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About the Author

Hy Smith has earned a masters in business administration and is founder of ADS Florida, a Florida practice brokerage and consulting firm. Mr. Smith has been involved in dentistry for over thirty-five years and is currently the director of Transition Strategies at the Pride Institute. He has lectured at the University of Florida, Nova Southeastern University, and presents a practice management course on transition strategies to the University of the Pacific, Marquette, and Indiana University dental schools.

Mr. Smith has presented to the American College of Prosthodontists, the Greater New York Dental Meeting, Pankey Institute, and the Florida National Dental Congress, as well as numerous local dental societies. He is past president of the ADS (American Dental Sales), a member of the Practice Valuation Study Group, and a member of the Institute of Business Appraisers. Mr. Smith has also written numerous articles for Dental Economics on transition subjects and issues.

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