What is Dental Succession Planning?
Developing a succession plan keeps the practice running, providing continued healthcare to patients and jobs to employees who work for the practice. Succession planning enables the owner to convert the equity he or she has created in the business to cash for retirement.
The PMA Solution
We work to formulate a plan for future retirement by developing a strategy to position your practice for optimal eventual sale, with a focus on protecting your assets. As a service to our clients, we provide an annual update to ensure the practice is always in a "sale ready" position in the event of an unplanned emergency.
Succession Planning for a Group Practice
Multi-provider practices, or group practices, should create a buyout agreement for any dentist that decides to leave the practice. A buyout agreement, or buy-sell agreement, is a legal agreement between the owners of a business that determines how the future sale or buyout of an owner’s interest in the business will be conducted. Trigger events could be retirement, disability, death or even a voluntary withdrawal from the practice.
Why use PMA for your succession planning?
Since 1998, we have worked with general and specialty dentists guiding them through succession planning. Value-driven and results-oriented, we serve our dentists clients at a level that far exceeds other brokers in our industry. We’ll help you with your succession planning by helping you find your ideal replacement. We guide you through every step of the transition. We are relationship-based and care about the long-term success of your business. Contact us today at (888) 762-4048 for a complimentary consultation.