Why Dentists Should Hire a Dental Lawyer When Leasing Out Office Space
When running a successful dental practice, finding the right office space is as important as having the best dental equipment. However, leasing office space can involve potential legal pitfalls. This is where a dental lawyer can help. Let’s cover why hiring a dental business lawyer is a wise decision for dentists when leasing office space.…
Is a Dental Partnership Right for Your Practice?
Making the choice to enter a dental partnership is a significant decision that impacts the trajectory of your dental practice. It is essential to consider the factors that can influence this decision. As a law firm primarily serving dental professionals, Wood & Morgan is committed to guiding our clients through the complexities of dental partnerships.…
Building Successful Dental Partnerships: Key Strategies for Dental Professionals
The idea of a dental partnership carries with it the promise of shared resources, collective skills, and a united approach to navigating the evolving dental landscape. By understanding the key factors to build a successful dental partnership, dental professionals can amplify the rewards while minimizing the challenges. Here are some goals for dental professionals to…
Identifying Fraud in Dental Practice Acquisitions
Completing a dental practice acquisition is a significant milestone for dentists. Closing these transactions can be time-consuming, expensive, and complex. Additionally, the buyer takes on significant business risk associated with transitioning another person’s business. And part of this risk relates to insurance fraud. While dentists are supposed to adhere to the highest ethical and legal…
5 Benefits of Having a Dental Attorney on Retainer
As a dental professional, staying informed about the ever-changing legal landscape is essential to protect your practice and reputation. To ensure you have expert guidance readily available, having a dental attorney on retainer can prove to be a game-changer. In this blog, we will delve deeper into the five key advantages of having a dental…
Lawyers for Dentists: Who Are They? What Do They Do?
The legal and dental industries are different in many ways, but similar in an important aspect: there are generalists and specialists. In the dental industry, there are general dentists and the various subspecialties of dentists focus on certain types of patient care. In the legal industry, there are general attorneys, usually solo practitioners and those…
What is a Group Purchasing Organization (GPO)?
Introduction A Group Purchasing Organization (GPO) serves as a conduit for businesses to achieve cost savings by leveraging collective purchasing power. In the dental industry, GPOs play a pivotal role in helping dental practices reduce their operational expenses. However, joining a GPO is not always a simple process, and may present challenges like limited options,…
Choosing the Right Dental Attorneys: Key to Successful Business Transactions
In the business world, selecting the right advisors is vital for success. They serve as your trusted guides, steering you towards prosperity and away from potential hazards. Think of them as strategic advisors, bringing their unique blend of care, effort, and expertise. Making the right choice of advisors can completely transform that way you handle…
A Dentist’s Guide to Business Services Agreements with DSOs
As the dental industry evolves, more and more dentists are turning to dental service organizations (DSOs) as a way to help streamline their practices and increase their profitability. But with any business transaction comes risk and reward. To ensure that your practice is getting the most out of its DSO transaction, it is essential to…
The Four Stages of a DSO Transaction
The dental industry is undergoing a significant shift towards consolidation, with an increasing number of dentists and dental practice owners opting to sell their practice to Dental Service Organizations (DSOs). While this move may be beneficial for some, it is important for dentists and private practice owners to understand what to expect when selling to…
DSO Practice Valuation Methods: Comparables
The formal definition of fair market value is the price of an asset that would change hands between a willing and information buyer and seller. The practical definition is the price someone is willing to pay for an asset. Dental service organizations and private equity backed group dentistry practices have grown significantly in the past…
How to Choose a Bank for a Dental Practice Acquisition
When it comes to acquiring a dental practice, one of the earliest and most important decisions is choosing which bank can help fund the transition. With so many banks across America, it’s important to compare options like their various programs, financing opportunities, and loan officers before making a choice. This guide gives you an outline…