Tulsa Dental Transitions
What is a Dental Transition?
Simply, dental transitions are the process of including another provider into your practice, with the intent being to eventually share or transfer ownership of the business at a specified point in time. Unlike a sale, a transition may be executed as a practice growth or eventual ownership exit strategy. It is also oftentimes an evolutionary combination of both scenarios.
Exit Strategy in Tulsa Dental Transitions
Most dentists usually have one of two mindsets when considering ending their dental practice. One is planned and reaps more benefits, while the other is not planned and typically reaps nothing.
It’s all the dentist’s choice. A dentist who plans properly and chooses to have an exit strategy will find great peace and financial gain when it comes to their Tulsa dental transitions. Their choice allows for smooth merging with one or more dentists or means they wait to sell the practice in its entirety.
The other mindset, of not planning, means that you will become easily stressed and will potentially have no financial reward.
Having a consultant with you who can assist in your exit strategy will establish a firm foundation of what to do, when to do it, and how to do it when certain milestones are reached. Strategy is how you begin your Tulsa dental transitions.
Receive Market Value During your Tulsa Dental Transitions
When planned properly, virtually every dental practice has value and can be sold to another dental practitioner during Tulsa dental transitions. Consultants can assist any dentist in receiving market value for their practice by completing a functional transition, appraisal, and merger or sale of their dental practice.
During the evaluation process, it is typical to identify various improvements that could be made to your dental practice, which would make it more efficient and more valuable.
Know the Buyer of your Tulsa Dental Transitions
You can be sure a prospective buyer fully investigated several important indicators of value before buying your practice. These can include, but are not limited to, a practice appraisal, collection of financial statements, and review of the practice’s tax returns.
Even your personal check or tax returns and credit report could be investigated. In the same way, you should be just as wise to investigate the financial strength of your prospective buyers and what their purpose would be in buying your practice. Way too often, a seller is unaware or unconcerned with a buyer’s goal.
This can lead to frustration for both parties and may jeopardize the ultimate completion of the transition. Corporate buyers are primarily interested in acquiring the existing patient base, intending to grow practice profitability.
These organizations have a transition process based on retaining the current owner for patient retention and integrating corporate controls and revenue-enhancing processes for increasing practice profitability. The corporate buyer ties your economic goals to its economic goals.
Tulsa Dental Transitions Are Not Just for Retiring Dentists 
Dental practice appraisals, mergers, transitions and sales are not just for retiring dentists. You may desire to continue in practice but in another part of the country, overseas, or even take a sabbatical.
The Tulsa dental transitions, appraisals, mergers and sales process are much the same, no matter the reason. Discussing with your transition specialist would help in gauging all the options available for your Tulsa dental transitions.
Typically, the process begins with a practice evaluation or market value appraisal. Knowing what the dental practice is worth and what can easily be tweaked will make for a gentle transition.
The Right Professional for Tulsa Dental Transitions
Finding the right professional Tulsa dental transitions firm that specializes in dental mergers, sales, purchases, appraisals, and negotiations is the best thing a dentist can do for themselves.
Attorneys and accountants who know how to crunch numbers and create documents are great, but they do not necessarily understand how to operate a dental practice, especially during a merger, appraisal, sale, or a Tulsa dental transition phase. Jaquay Enterprise is a professional advocate when it comes to Tulsa dental transitions.
Jaquay Enterprise Tulsa Dental Transitions
Jaquay Enterprise has been doing Tulsa dental transitions for 17+ years and can provide you with everything you need for your dental transitions. Whether that be getting your dental practice ready for a transition through a merger, sale, or buying, Jaquay knows it all. They will make sure you get the financial gain that you deserve and that your practice goes to the right buyer.