A dental practice transition occurs when an established practice employs a new dentist who will carry their current customers with them or when a practice owner decides to sell their practice. Changes to a dentist’s practice can be complicated and time-consuming, but they don’t always have to be. Properly planning the transition process can save one all the hassle. This article will outline the steps to plan dental practice transitions properly. Let’s take a look at some of the steps to consider.
Before interviewing your potential successor, research their background and ask your colleagues if they would recommend them as an owner of a similar practice. Make sure they understand the commitment to running a dental office and know what it takes to succeed in private practice.
Let your prospective successor shadow you at every opportunity so they can learn everything about running the office — including insurance forms, patient charts, and collection procedures. This will also allow them to see how much time is spent running the practice smoothly. Your prospective successor should be well aware of certain dental facts. For example, they should be aware of the prevalence of braces among adults. According to Humana, over 4 million people in the United States use braces, with 25% being adults.
Don’t wait until the last minute to think about how the transition will affect your patients and staff — especially if you leave the practice entirely. Start thinking about what your patients need to know well in advance of any official announcement of your departure so they have time to consider their options and make decisions that work best for them.
The last tip for planning dental practice transitions is to make it clear to your patients that you are retiring or leaving the practice and that they will soon be seeing another dentist. Let them know if there is anyone in particular whom they would like to see as their new dentist, but don’t make promises about who will take over their care.
Planning dental practice transitions takes careful consideration. Follow these steps and, in the end, you’ll be more confident going into the transition and will have covered all of your bases along the way.
