10 Essentials for a Successful Practice Buy-In

  • A comprehensive practice appraisal within a reasonable time of the associate’s start date.
  • A thorough plan regarding the buy-in, including the beginning, middle and end of the buy-in relationship.
  • A wide spread associate search.
  • A background investigation of associate candidates.
  • A candid discussion between the parties regarding their respective expectations.
  • A well drafted employment agreement, including buy-in specifications.
  • A practice facility that can accommodate multiple dentists.
  • An adequate patient flow that can accommodate multiple dentists.
  • A well thought out post-buy-in exit strategy regarding a principal’s death, disability, retirement, dissolution and third party sale.
  • A willingness for all parties to change.

By: Kevin Shea, President of Shea Practice Transitions, P.A.

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