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Have you ever considered merging another small dental practice into your own?

As today’s boomers begin the descent from their lifelong careers into retirement, many have waited a little too long. The economy of the early 2000s forced many of these boomers to work longer to make up for losses that they experienced in their savings and retirement accounts.

Continuing to work longer while slowing down and cutting back on the number of days in the office created a fairly significant number of smaller practices generating under $400,000 in collections per year.

Incorporating these types of practices into your own is a great way to increase the bottom line of an existing practice. The fixed expenses of these offices (rent, insurance, computer expenses etc.) will not follow them into your office – potentially making this a very profitable move.

You will of course experience additional costs in supplies, labs and staffing, but the bottom-line profitability of a merger can be substantial.

The costs involved in finding and cultivating new patients can be very expensive. Unlike with an outside marketing campaign, you will experience an immediate influx in new patient flow.

Often the Seller of these small practices has become a pro at referring patients out to specialists or the Seller has been simply maintaining their patient’s care. This creates an added bonus to a buyer who is quite possibly able to provide additional services over that of the Seller.

Experienced staff from the Seller are often willing to move with the practice. Good hygienists are very valuable and especially in the merger situation. They are already trained, have patient familiarity and are usually glad to accept continued employment with the Buyer.

Retaining the hygienists and possibly the front office staff can greatly increase the chances of patient retention when one practice merges with another.

Unfortunately, many doctors pass up on this wonderful growth opportunity. Don’t let it be YOU!

Our advice to you is to consider nearby merger possibilities, and we would be delighted to discuss your specific situation with you.