Athena Consulting: Dental Practice Solutions
Practice Appraisals
There are many sound reasons to document the value of your dental practice:
- Practice sales
- Second-opinion appraisals
- Prior to bringing in an associate, forming a new partnership or dissolving an old one
- Estate / retirement planning
- To determine personal net worth for loan applications and mortgages
- Prior to marriage; prenuptial agreements
- To guarantee a fair disposition of assets for estate or disability purposes
- As a basis for creating your future business plan
Athena Consulting uses the most accurate way to appraise a practice, weighing its attributes and challenges, and what they have meant for the practice’s success. Each characteristic has a value multiplier – positive or negative – that will increase or decrease the practice’s value. For example, a dentist who has died would have a negative value multiplier, whereas a dentist willing to stay for a 6-month transition would have a positive value multiplier. The measures are based on:
- City or town based on population size and location desirability
- Location within the city or town based on area and visibility
- Type of practice based on reputation, patient base, revenue sources, and type of dentistry
- Growth potential of the practice based on a per patient revenue
- Source of patients and how they are attained and retained
- Circumstances which led to the sale of the practice
- Ability to retain the patients and revenue after the transfer of ownership
- Decor of the practice based on its updated, stylish appeal
- Dental equipment based on its age and technical advancement
- Revenue and profit margin of the practice and their trending over time.
Athena Consulting’s appraisals are honest, diligent and market-wise. Schedule yours today!