Partnerships, Associateships, and Acquisitions: Everything You Need to Know

Today, we are joined by Doug Copple from Bentson Copple & Associates.He is here to share all the ins and outs of partnerships, associateships, and acquisitions. So, no matter where you are in your practice journey, there is something in this episode for you! Summary: The conversation covers various aspects of practice valuation and the importance of clean data. It emphasizes the continuous process of valuation and the need for accurate and up-to-date information. The chapters also discuss the buyer's perspective, including questions and considerations, as well as the importance of practice management consultants. Non-competes and the benefits of practice ownership are also explored. TakeawaysValuation is based on specific dates and requires clean and accurate data.The valuation process is continuous and involves updating information for potential buyers.Clean data is essential for efficient practice management and building trust with buyers.Considerations for sellers include prepaid patients, contract balances, and credits/refunds.Practice management consultants can provide valuable advice and support.Non-competes are important for both buyers and sellers.Ownership offers financial benefits and equity-building opportunities.Connect With Our Advertisers Kaleidoscope - Orthodontic Digital Marketing GreyFinch - Web-Based Practice Management SoftwareSmileSuite - Customizable Presentation Software and Post-Consultation Follow-Up Chapters 00:00 Valuation and Data Cleanliness34:16 Continuous Process of Valuation35:08 Importance of Clean Data36:05 Examples of Data Cleanup37:05 Buyer's Perspective and Questions38:02 Considerations for Sellers38:58 Prepaid Patients and Contract Balances39:22 Credits and Refunds40:12 Importance of Practice Management Consultants42:15 Non-Competes43:33 Ownership as the Best Route Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- www.practiceresults.com. If you like what we are doing here on Hey Docs! and want to hear more of this awesome content, give us a 5-star Rating on your preferred listening platform and subscribe to our show so you never miss an episode. New episodes drop every Thursday! Episode Credits: Hosted by Jill AllenProduced by Jordann KillionAudio Engineering by Johnny Mitchell