Just because the ADA is now offering transition services does not mean they have the experience or knowledge needed to protect you.... Inexperience is EXPENSIVE!
The ADA affiliate for practice transitions is suggesting that confidentiality is not important.
DON'T BELIEVE THE HYPE!
Confidentiality is one of, if not the most important aspect of a practice sale to protect your patient
and staff retention as well as your practice value.
The following screen from the original article published on ADA Practice Transitions
website is a great example of this issue.
Originally published by Bill Robinson on 8/6/2019 on ADA Practice Transitions
(https://blog.adapracticetransitions.com/shhhhh-im-selling-my-dental-practice)
Choice Transitions' consultants have been successfully advising practice owners and transitioning dental practices since 1996. Whether you choose to utilize our services, or any other experienced professional, choose a firm that understands the importance of confidentiality so you ...
Don’t lose patients
The easiest way to lose your patients is for them to “hear through the grapevine” that you are selling long before the candidate is selected and a sale has even occurred. There is a time and place to successfully announce the practice sale, and more importantly introduce your hand-picked successor.
Don’t lose staff
Retention of your team is crucial to the success of your sale, and a smooth transition. Without staff in place, your potential buyer will most likely walk away from the sale. It is far too easy for your competitor to lure key employees away if it is discovered you are selling prematurely.
Don’t lose value
Losing your patients or your staff will dramatically impact the value of your dental practice. Choice Transitions’ experienced brokers have been successfully transitioning dental practices for 25 years. We have the knowledge and experience that you need to avoid this.