Negotiate the Accounts Receivable When Buying a Dental Practice

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On Friday I experienced a parenting moment that reminded me of trying to negotiate buying a dental practice and how quickly things can go badly.   I had promised the kids each a small bag of M&Ms after work. I followed through and delivered. I tallied the dad points in my head. Then, of course, I watched as the 2 year-old ripped open the bag and one single, solitary green M&M escaped and fell, rolling onto the floor. Her 3 year-old sister was fast. She jumped down, snagged it, and popped it in her mouth in full view of the 2 year-old who still had an entire bag of chocolate happiness, minus one escapee. You know what happened next. The 2 year-old dissolved in tears and threw a fit.  One escapee M&M made her so angry that the rest of the bag in front of her didn’t even register. It’s the kind of thinking …

Brian HanksNegotiate the Accounts Receivable When Buying a Dental Practice
After the Letter of Intent

Buying a Dental Practice – After the Letter of Intent

Brian Hanks Practice Transitions 2 Comments

When buying a dental practice, how do you know what to do after the letter of intent? Almost always, there is a period of time between when you’ve negotiated the letter of intent and when you walk through the front doors of your new practice, keys in hand, as the brand new owner. Picture the moment: You park the car and start walking toward those front doors you own for the first time! The opening few bars of “Sweet Emotion” by Aerosmith are running through your head. You own your own practice now, you stunning piece of humanity! If there was a confident emoji, it would look like you. But what if you don’t feel confident? What if you show up on your first day, like a pediatric dentist I know in Arizona, and you realize the schedule is only half-full and your front desk can’t bill to insurance yet …

Brian HanksBuying a Dental Practice – After the Letter of Intent