Ask George - Ready to Grow vs Ready to Shrink: How to Buy a Dental Practice

In this episode of Ask George, Richard Low and Dr. George Hariri reveal how to buy a dental practice correctly to avoid acquiring a "ready to shrink" clinic. Too many buyers rely solely on financial profit and loss statements without evaluating the true health of the active patient base, resulting in massive post-acquisition revenue drops. A prime example discussed is a doctor who bought a $690,000 practice with only one day of hygiene per week, causing collections to plummet to $310,000 in the first year.If you are wondering how to buy a dental practice that ensures sustainable dental practice growth, you must implement rigorous due diligence. Here is your blueprint to ensure you buy a "ready to grow" clinic rather than an overvalued lemon:Start with Your Vision: Never acquire an office without a clear understanding of your long-term goals and how the specific practice aligns with that vision.Audit the Patient Base: Go beyond tax returns by remoting into the practice management software to count actual cleanings and hygiene days. A healthy clinic should service around 800 active patients per four days of hygiene.Evaluate the Procedure Mix: Look at the three-to-four surface filling to crown ratio to determine if the seller's production is highly specialized or overly aggressive. Buying dentistry you cannot replicate will instantly devalue the asset.Exercise Strategic Patience: Knowing exactly how to buy a dental practice dictates that waiting an extra year for the right off-market opportunity is vastly superior to rushing into the wrong purchase and setting your career back multiple years.Ready to take the next step in your dental practice journey? Visit https://sharedpractices.com to learn more about our Buyer Representation and Coaching services, designed to help dentists buy, grow, and optimize profitable practices. You can also use our Free Look to evaluate dental practice opportunities with real data before making a decision. For daily Dental Moneyball insights, strategy tips, and updates, follow us across our social channels.