Transition Talk

While endodontic practice transitions share many of the same foundational principles as other practice transitions, several factors make them distinctly different. From referral-driven growth to smaller office footprints and relatively low startup costs, Christy and Charles explore what sets endodontic practices apart. Whether you’re looking to start up, buy, or sell an endodontic practice, this episode provides perspective on how to create a detailed transition plan. GET MORE Check out NDP's blog, What Sets Endodontic Practices Apart: ndptransitions.com/what-sets-endodontic-practice-transitions-apart Check out Cain Watters & Associates’ Dental Practice Comparison Report: cainwatters.com/hdydpc-contact

One of the most important conversations in any practice purchase is the interview between the buyer and seller, where both parties determine whether there’s a mutual fit for the future. In this episode, Christy and Charles discuss how buyers can prepare for and navigate an initial conversation with a potential seller. They cover key topics to ask, including the practice’s clinical philosophy, patients, team, office, marketing, and transition goals. They also share tips for keeping the conversation natural and identifying opportunities to ask follow-up questions. Whether you’re exploring your first practice opportunity or preparing for an upcoming interview, this episode offers practical guidance to help you make a strong impression and determine whether the opportunity is the right fit. Get more from our blog: https://ndptransitions.com/the-buyers-interview-guide-questions-to-ask-a-practice-seller/

The choice between insurance-based and fee-for-service healthcare can shape everything from patient flow and profitability to branding and long-term practice value. In this episode, Christy and Charles break down the risks and benefits of PPO and FFS models, including how PPO participation can support steady new patient flow while increasing network competition, while FFS practices may offer more pricing control, stronger margins, and a more personalized patient experience. They also discuss what buyers should evaluate during a practice transition, why seller goodwill and transferable contracts matter, and how owners can thoughtfully approach a shift from PPO to FFS over time.

If you're a student, resident, or early-career associate, it's likely student loans are one of your biggest financial concerns. With federal repayment programs changing, it’s important to understand how the new options could affect your next steps. In this episode, Christy is joined by Austyn Scott, Certified Financial Planner and Wealth Advisor with Cain Watters & Associates, to break down the latest updates and changes. From new repayment plan options and federal lending limits to balancing student debt with broader financial goals, Austyn shares timely insight to help navigate an increasingly complex student loan landscape.

Financing plays a major role in nearly every practice transition, and today’s lending environment continues to shape how buyers and sellers approach the process. In this episode, Adam Schenck from Bank of America joins Christy and Charles to discuss the current lending landscape, from interest rate trends and loan approval factors to practice pricing, second locations, and what doctors should consider when choosing the right lender. Whether you’re preparing to purchase your first practice, expand into another location, or sell your existing one, this discussion offers practical insight into how lending decisions can impact your future goals.

Choosing insurance coverage might not top your list of exciting ownership milestones, but it plays a vital role in safeguarding your future. Fortunately, there are many resources at your disposal to help you navigate all of the policy intricacies. In this episode, Christy discusses the insurance landscape with our guests, Tara Cain, Insurance Account Manager at CWA Risk Solutions, Claudia Glaubitz, Director of Business Development at Risk Agency, and Joey Bertrand, CEO at Risk Agency. Our guests provide valuable insight into what types of critical coverage will protect you, your practice, and your property from costly setbacks.

Dentistry offers many directions to pursue, and your journey should be guided by what truly excites and motivates you. If a dental specialty program is your passion and your goal, investing time and energy into the process can help you stand out and set a clear path forward. In this episode, Christy and Charles offer tips for getting selected to a program, preparing for the interview, and making a lasting, positive impression.

The question we hear most often from aspiring practice owners is, “How do I find the right practice opportunity?” Choosing the practice that truly aligns with your goals is one of the most significant life decisions you'll make. In this episode, Christy and Charles walk through practical ways to identify and secure your ideal opportunity, from networking and broadening your connections to continuing education and targeted letter campaigns. Whether you're a student, resident, or associate, the discussion is tailored to where you are in your journey, so you can focus on the strategies that fit your next steps.

Even though there are many benefits to practice ownership, there are also trade-offs. In this episode, Christy and Charles break down the realities of ownership, helping you decide if it’s the right path for you. They explore how various aspects of ownership can feel rewarding to some and challenging to others. From wearing many hats, managing a team, and handling business responsibilities, all of these factors have a double edge sword, carrying both advantages and disadvantages. And if you decide you’re ready to take that leap, NDP is here to help guide you away from stress and towards success.

In most divorce cases, one of the biggest challenges is determining how assets should be divided. When one or both spouses have ownership stake in a healthcare practice, the process becomes even more complex. Enter the divorce valuation: this determines the worth of the practice and identifies the portion eligible for division, supporting a fair and defensible outcome in court. In this episode, Christy and NDP’s Head of Valuation Dawn Whitehurst discuss how these valuations work, when they’re necessary, and the distinction between divorce and standard business valuations.

More locations don’t automatically mean more profit or value. In this episode, Christy and Charles unpack the realities of expanding into a satellite location and challenge common myths surrounding this growth strategy. The co-hosts provide a framework to approach expansion with clear goals and realistic expectations. They’ll show how owners can optimize their satellite practices to position themselves for success, both now and when it’s time to transition in the future.

Although the foundation of the dental industry has remained consistent, there have been some meaningful changes in recent years that have shaped the dental landscape for both buyers and sellers. Christy and Charles discuss updates in the private practice and DSO arenas, from elevated practice prices, satellite location trends, interest rates, buyer and seller demand, DSO consolidation and more. This episode highlights why staying informed and keeping your goals in focus leads to smarter, more strategic business decisions.

You’ve made one of the most significant transactions in your career, and you’re now the proud owner of a dental practice. Now you have to face your next hurdle: gaining new patients while also retaining the base. Fortunately, there are many steps you can take to ensure a smooth transition for the team and patients. In this episode, Christy and Charles discuss tips for rebranding the business, nurturing the existing patient base, and positioning yourself to market to new audiences.

Many buyers and sellers strive to close their practice sale by the end of the calendar year. Although this seems like a natural and satisfying bookend to the year, both waiting or rushing to close a deal will only cause unnecessary pressure. Whether your goal is to close on your practice sale before the year ends, or you have a different deadline in mind, Christy and Charles emphasize in this episode that time can kill deals. The co-hosts explain common hinderances in the deal process and provide helpful tips on meeting your closing goals.

For dentists, and especially practice owners, it’s not easy to wear all of the hats, day in and day out. From the daily grind, managing employees, and handling difficult patients, it can all lead to stress and exhaustion, which can eventually result in burnout. Christy and Charles pull from their own career experience and client stories to offer insight and tips for navigating burnout. Their key message: With the right tools and support, you can maintain a feeling of balance and positivity in your career.

A valuation is more than applying a dollar amount to a business; it’s about thorough diligence and understanding the variables that tell the business’ story. Take a deep dive into this chapter as Valuation Manager Bryan Gooden helps break down the intricacies and offers his experience on valuations across multiple industries.

While start-up dental practices offer a blank slate to design the practice you’ve always envisioned, not having the built-in patient base and cash flow that a practice acquisition typically provides can be a big challenge. When it comes to specialty start-ups, this adds a different level of complexity. In this episode, we break down which specialties are in demand, which involve higher costs to launch, and which carry the most competitive pressure.

What factors make for a “Don’t Mess This Up” opportunity versus a “Buyer Beware” opportunity? This episode speaks to the buyers out there, helping to identify the differences between the right and wrong practice opportunity. Tune in as we take a look at the financials, doctor work, real estate, location and other aspects to consider as you explore different opportunities. This episode originally aired May 18, 2022.

Once you’ve sold your practice to a new owner, the reality of retirement can feel different than expected. With a lower income and a new routine, this next chapter can bring some uncertainty. Building a strategic plan can help you feel confident about the road ahead. Christy and Charles offer key considerations, from filling your time, budget management, tax planning strategies and more. GET MORE This blog provides a list of operational responsibilities to ensure the practice is ready for new ownership: https://bit.ly/47eyTu4.

What dental buyers valued in a practice a decade ago isn’t the same as what they prioritize today. Buyers are diving deeper into the due diligence process, have different desires surrounding location preferences, real estate purchase options, and practice data, among other things. NDP Practice Listings Manager Kathy Whiting shares her experience, illustrating how buyers’ preferences have shifted throughout the years. The key message for selling doctors: As buyer priorities evolve, sellers who adapt can showcase their practice in a way that stands out to the right buyers.

Purchasing a dental practice comes with unique challenges and variables at every stage of the process. Whether you’re doing your due diligence on a practice opportunity or finalizing your letter of intent, soliciting guidance from a professional can help bring confidence along every step of the way. Christy and NDP Head of Consulting Bridget Schwebke discuss the various options our buyer consulting service offers and how it’s designed to help you achieve a smooth transition to ownership.

While the financial pieces often dominate the conversation in a DSO sale, there are many more factors involved in the process other than EBITDA and multiples. Christy and Charles help practice owners take a step back and understand all the key considerations when partnering with DSOs. From how the practice value is truly calculated, your preferred workback timeframe and your life after the sale, understanding these components will help you set the right expectations.

Practice price is only one component to a sale, yet it’s typically the one that sellers think about most. If you’re selling or transitioning your practice, and the valuation or market price comes in lower than expected, it can not only cause confusion, but also change the trajectory of your transition plan. Is there anything you can do about the price once it’s out in the open? What if you only have a short amount of time to react? Christy and Charles help make sense of why the price may be lower than expected and how to navigate this unforeseen circumstance.

As a dental student or resident, you're likely juggling graduation requirements, career paths and personal relationships. And with student debt looming, it can all feel like a lot of weight on your shoulders. Noah Jones from the University of Kentucky joins Charles on this episode to share how he’s managing his priorities in preparation for the future. The way that Noah sees it: this stage is filled with open doors.

While traditional financing is most often used to fund private practice acquisitions, seller financing can also be a tool to help pay for the purchase. Seller financing may sound like an attractive option, as many believe it offers the potential for better rates or terms, but that’s not exactly the case. To help you understand the full picture and implications, this episode discusses common scenarios and reasons for using seller financing, how it can help (or hurt) your transition and how to know if it’s a viable option for you.

As you begin your career as an associate, practice ownership may seem more like a dream, rather than a milestone within reach. In reality, the preparation should start early. Practice owner Dr. Dan Butterman and his associate and son, Dr. Kevin Butterman, continue their story from episode 130 and talk about their future partnership. They discuss their initial ideas, transition timeframe and how they’re ensuring that Kevin is not only prepared for the clinical work, but also the administrative and leadership aspects of the business.

Stepping into associateship after dental school can feel like jumping off the deep end. This phase is about learning quickly and mastering not only the clinical skills, but also the people and administrative skills. To give perspectives from both sides, practice owner Dr. Dan Butterman and his associate and son, Dr. Kevin Butterman, discuss how they’re bridging the gap between dental school and real-world experience, while setting the foundation for their future.

As you explore a potential practice to buy, how can you confirm that the opportunity is not only profitable, but also aligns with your personal and professional goals? This is where the due diligence process comes in. Charles and NDP transition consultant August Sandy give a rundown on what the process entails and how it can help provide reassurance that you’re making the right choice in a practice.

When the focus is on important life and career decisions, the thought of securing life and disability insurance often takes a backseat. We get it. No one wants to think about the “what if,” and there may not be any immediate circumstances pushing you to consider it. CWA Risk Solutions’ Tara Cain brings her insurance expertise to the podcast and discusses who needs it, when to get coverage, the ins and outs of applying for coverage and resources to simplify the process.

Once you’ve decided you’re ready to buy or sell a practice or take on the next career milestone, knowing where to turn first should be your next step. NDP’s Brandy Pecora and Alivia Youree discuss common questions, concerns and misunderstandings in the early phases of the buying, selling and valuation processes. Together, they illustrate what happens when you get the ball rolling with a dental transition advisor.

Coming out of dental school, the type of practice you work for should be a choice made with your long-term goals in mind. With the attractive financial packages, reduced risk and business responsibilities and a “fear of missing out” effect, it’s easy to see the appeal of DSOs over private practice. To help new dentists navigate the facts and make an informed decision, Christy and Charles weigh in on both DSOs and private practices and the situations where each could be the right fit.

“Rather than focus on building an income, focus on building yourself as an asset.” By leveraging a business mindset from the start and investing a significant amount in continuing education, Kentucky practice owner Dr. Friend Bechtel has built himself as a valuable asset. His tenacity has led him to overcome obstacles early and own a thriving practice today. Tune in for an episode packed with nuggets of motivation and advice as Dr. Friend shares his full journey.

Building a successful practice isn’t about following a specific formula. Rather, you create your own destiny with the path you choose. This episode dives into the story of Minnesota practice owner and NDP client Dr. Jason Spychala. Under his leadership, the practice has grown, they’ve built a new building, and he recently brought on his associate as his partner. Tune in to hear his ownership journey, his experience with the valuation process and how he found his path.

Bringing in an associate is one of the most significant opportunities for practice growth. With the right type of practice, plan and associate, the business can truly take off and thrive. From clinical goals, daily production numbers, continuing education and compensation, the considerations outlined in this episode will help ensure you’re prepared to welcome a new doctor.

Unexpected challenges and unknowns can make the road to buying or selling a dental practice feel a little rocky. From practice valuations, legal documents, due diligence and transition timing, Christy and Charles touch on several areas that can cause pain points and even regret later down the line. This episode will help you feel prepared for the types of obstacles that may come your way and offer confidence to get to the other side.

The sale structure of a dental partnership is an important detail that can impact the deal and life as partners. One structure may sound like the best option—be it for simplicity or efficiency—but that doesn’t mean it will have the best outcome in the future. Joining this episode to offer their legal and financial expertise is attorney Matt Mitchell from Friday, Eldredge and Clark LLP and Cain Watters & Associates Financial Planner Sarah Oliver. They discuss the tax and legal implications of asset versus stock sales, common misconceptions, repercussions of making adjustments after the fact and the importance of operating agreements.

While many assume that all debt is bad debt, obtaining lending is often a necessary piece to practice ownership. Experienced dental lenders Johnette Green from Provide and Adam Schenck from Bank of America join this episode to help buyers be in the best financial position to purchase their dream practice. They discuss aspects that banks look for in the buyer’s personal finances and the practice financials, details that buyers often miss, when to engage a lender, how sellers can support buyers in the lending process and much more.

Running a successful practice is much more than the clinical work. To enhance your practice’s efficiency, it’s important to leverage dental-specific solutions to lift the weight of certain business responsibilities and save you money on supplies and services. Charles and Brett Pierce, ELITE Dental Alliance President and CEO, discuss what options are out there, how to utilize them to the fullest and why implementing vendor changes can be a positive contributor to your practice’s success.

Working alongside doctors through major milestones brings an abundance of rewarding moments. From witnessing their teachings come to life to seeing the full evolution of a dentist’s career, Christy and Charles reflect on gratifying memories from the past.

Many doctors begin their career by building experience as an associate. This stepping stone to practice ownership can help you gain insights to the decisions you’ll eventually face in your own practice. In this new episode, Christy and Charles discuss growing your clinical speed and productivity, building liquidity and several other action items to consider during your associateship.

Dental valuations are complex, and finding the right time to value a practice can be intricate in itself. There isn’t a universal timeframe, but the timing is incredibly unique to the buyer and seller’s specific situation. Christy and Charles walk through several scenarios, illustrating when it’s appropriate to value, when it’s not and the implications behind the timing.

Ensuring compatibility and laying out expectations early is key to getting your partnership started off on the right foot. From mentally, clinically and financially preparing yourself to understanding the other doctor’s vision, this episode dives into the groundwork needed to know if this is the right career and personal step for you.

Just like dating, dental partnerships not only require a collaborative and cohesive dynamic, but it’s important to understand all of the details for a relationship to thrive. If a partnership opportunity is on the horizon for you, engaging in key conversations and asking the seller the right questions can build a foundation for success. This episode outlines the important questions to ask your future partner and how to understand the answers.

Knowing the right questions to ask is a powerful tool, especially when it comes to asking your dental transition advisor for insight and advice. Good questions can make conversations more productive, maximize your time and further your overall progress in your practice purchase or sale. Christy and Charles walk through the most productive questions from clients and why some questions can be more beneficial than others.

With the Federal Trade Commission pushing to ban non-compete agreements, questions and confusion are escalating among practice owners and associates. While the U.S. District Court has blocked the ruling for now, attorney Ali Oromchian offers clarity on the current developments and shares considerations to make if the rule does go into effect.

When the documents are signed and you’ve officially closed on your practice purchase, you’re likely eager to now jump into the job head on. To help new owners financially thrive post-close, Charles and Cain Watters & Associates Financial Planner Zane Harris lay out some key considerations. They touch on marketing strategy, curating your vendors, equipment and technology, tax planning, depreciation strategies and even some personal considerations, like new homes and student loans.

Closing on a practice sale signifies the monumental moment for buyers of crossing the finish line and starting a new chapter of your career. To set yourself up for success in the practice, there are several financial decisions to make 30 days prior to closing the deal. Charles invites Cain Watters & Associates Financial Planner Zane Harris to weigh in and help buyers through this critical period in the dental transition process.

Whether you’ve done your research and you’re ready to kick off your next career chapter, or you’re feeling a little lost in the weeds, a coaching call or a preliminary meeting with a dental transition advisor like NDP can provide both direction and assurance. To maximize your time and gain the most value, Christy and Charles share what to expect and how to prepare for your first meeting with NDP.

Identifying opportunities for improvement can ultimately position your practice in an attractive spot for a buyer down the line. Cain Watters & Associates Partner Judson Crawford joins Christy on this episode to dive into the latest version of the Dental Practice Comparison Report. They’ll discuss the key findings from the nationwide practice data and lay out some guidelines for growing your practice this year.

It’s natural to want to grow your dental practice by renovating or building a new office space. However, this can come at a cost, potentially impacting your overhead, overall practice value and even a future practice transition. In this episode, Christy and Charles show that while it’s okay to jump into this new project, you must consider timing and renovate or build with the overall business in mind.