This course offers an opportunity to flip today’s uncertainty into a roadmap for future financial security. Attendees will learn proven formulas behind building wealth, improving cash flow, getting ahead on retirement planning, bringing in associates or partners, plus the benefits of various savings environments. We will identify the decisions dentists face in early practice ownership as well as tax strategies to improve cash flow and support market volatility. Attendees will walk away with the tools to develop a financial plan to help meet their long-term goals.

If you’ve contemplated the purchase or sale to a private owner or DSO/ Private Equity Group, there is a lot to consider. This session covers strategies for business owners to position themselves financially to sell. Charles explains one of the top determinants of a practice’s value and the effect that it plays on all areas of the practice. Leveraging real case studies, dentists will gain insight into what elements impact not only their practice’s direct and indirect value, but potential buyers’ purchasing power in today’s environment.

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Date Available: 12/19/2023

Date Reviewed: 3/1/24

Date Removed: 5/31/24

This lecture walks through the financial and personal benefits of running a business where the doctor practices three days a week. Whether it’s leaning on associates or a partnership, attendees will compare scenarios and case studies and analyze the risks and steps to building a robust plan. We will discuss the benefits of being a three-day-a-week practice owner and help determine which type of approach fits the attendees’ goals. Attendees will walk away knowing what to expect when navigating the risks and rewards of this business model.

Additional Course & Hotel Information
Note: Hinman's Night Out is SOLD OUT and is no longer included as a benefit for students attending this course.

All too often, the decision on if and when to own a dental practice becomes an emotional journey rather than a business decision, with massive school debt often obscuring the big picture. This half-day session offers dental students, residents and associates the ability to expand one’s lens to fix their focus on long-term success, with the full disclosure of both the benefits and obstacles of owning a dental practice. The Practice Ownership Program consists of two lectures and a meet-and-greet networking session with experienced practice owners. This event includes lunch.

Owning Your Dental Practice: The Bridge to Financial Freedom

The program will begin with a presentation from Cain Watters & Associates and NDP Partner Charles Loretto. Taken from over 40 years of experience advising dentists on how to financially reach their goals, this lecture provides attendees a realistic view of practice ownership versus an employee. Charles will weigh the risks, consider debt and evaluate each option associated with becoming a new owner, entering a partnership, buying an existing practice or working as a partner in a corporate dentistry environment. During this lecture, attendees will understand the necessary qualifications needed before starting a new practice or finding an existing opportunity. It will provide details on the key elements to study before purchasing a practice like location, patient mix, type of transition and more, and how to negotiate the deal financially once you find the practice of your dreams.

The Grand Slam: Early Years of Private Practice

Dr. Mark Hyman, an adjunct full professor and Special Assistant to the Office of the Dean at the University of North Carolina Adams School of Dentistry, will share the keys to managing a successful practice and providing world-class service. Dr. Hyman will leverage his 32 years of experience in a full-time, real-world private practice as well as teaching and advocating for relationship-based optimal care dentistry. Attendees will walk away from this course knowing how to implement the critical steps to renew a practice, discover the potential issues involved in handling new patients and utilize new techniques for keeping the team focused and enthused.

Networking Social: Find Your Future Practice Opportunity
This course also includes a moderated networking session with current practice owners. Hear their stories, experiences and insight to get real-life stories from doctors who have walked this path themselves. Take this opportunity to ask the questions that are really on your mind and meet with doctors who may be searching for a future associate or partner.

Additional Course & Hotel Information

Join us for the unique opportunity to potentially meet your future associate or partner and gain access to the list of student attendees.

Meet with future owners, share your experience and hear the questions and concerns that dental students may have as they begin their careers. You'll participate in a moderated networking session with students, residents and associates and meet with individuals who may be looking for the right practice opportunity. Continue mingling and meeting new people as the program will conclude with a beer and wine reception. This event also includes lunch.

For more information, please visit ndptransitions.com/practice-ownership-program