Dental and Medical Counsel Blog

Calculating Travel Pay for Your Non-Exempt Employees

By Ali Oromchian Esq

Most employers know that they must pay their employees for hours worked, and that those hours must be paid as overtime for non-exempt employees if those “hours worked” exceed 40 per week. But calculating what, exactly, counts as “hours worked” for traveling employees can be a difficult task. Here are some tips on calculating travel pay for your non-exempt employees:

Read More
Posted on 04/17/2019 at 10:01 AM

Plan Your Exit Strategy Before It’s Too Late

By Ali Oromchian Esq

If you are the owner of a dental practice, you inevitably have to consider the long-term vision of your business. This can include self-evaluations of your practice, whether you want to sell and when, as well as the impacts each of these decisions might have on your finances. As these can be life-altering choices for your future and retirement, you should consider a number of thoughts along the way.

Read More
Posted on 04/03/2019 at 10:31 AM

Three Tips for Hiring and Keeping the Best Dental Associates

By Ali Oromchian Esq

As every good practice owner knows, the right dental associate can truly make or break your business. Associates can help you grow your revenues, allow you more time off to do the things you enjoy, and increase your team’s energy, among other things

Read More
Posted on 02/27/2019 at 10:00 AM

Does It Make Financial Sense to Build a New Dental Practice?

By Ali Oromchian Esq

One of the most common questions I receive from young doctors is whether it makes financial sense for them to be a practice owner.  The answer may seem obvious to some who already own a practice but when you are faced with high student loans and other debt, it is reasonable to worry about taking even more loans to become a practice owner.  

Read More
Posted on 02/13/2019 at 10:00 AM

Legal Ramifications of Dental Practice Buy-Ins and Partnership Agreements

By Ali Oromchian Esq

Dental practice buy-ins and the partnership agreements they often require can be challenging issues for any practice, and carry with them a number of potential problems and legal ramifications for the unprepared. Understanding the legal aspects of practice buy-ins and partnership agreements will encourage you to solve problems even before they start. Like any change to a business, preparation is key. Once you have completed your due diligence, valued the practice, and agreed upon a purchase price and financing structure, a partnership agreement will need to be agreed upon and drafted.

Read More
Posted on 01/30/2019 at 09:00 AM

In A Dental Practice, Owning Real Estate Has Advantages Over Leasing

By Ali Oromchian Esq

Our dental clients often ask us, should I own the building where I have my practice? Our quick answer is usually "yes," but the analysis is – as you'd expect – quite a bit more complicated. In this post, we discuss some factors to consider when deciding whether to lease or purchase real estate for your dental office, and why ownership tends to win out over leasing most (but not all) of the time.

Read More
Posted on 01/23/2019 at 09:19 AM

How to Dissolve Your Dental Partnership

By Ali Oromchian Esq

Ideally, when you put together a dental partnership, you include the terms for what you needed to do later, if one or both of you wanted out of the partnership agreement. Unfortunately, that's not always the case, which means that you might need help to figure out how to effectively dissolve your partnership in a way that works for both of you. Whether you have a contract that clearly sets out how you need to go about dissolving your dental partnership or you're not sure where to start with the dissolution, there are several steps to follow. 

Read More
Posted on 01/02/2019 at 11:47 AM

Does Your Practice Provide Holiday Bonuses?

By Ali Oromchian Esq

It has been well-established that making your employees feel appreciated can go a long way towards maintaining their loyalty and even towards increasing productivity. This time of year, one of the most popular ways of doing just that is by awarding holiday bonuses. If you are choosing to award a bonus this year, you are not alone.

Read More
Posted on 11/28/2018 at 10:30 AM

Selecting Your Advising Team When Buying a Dental Practice

By Ali Oromchian Esq

Buying a dental practice doesn't happen in one smooth, easy step. In fact, throughout every step of this process, you need a team of advisors that will help track your needs and ensure that you are making wise financial and legal decisions to protect yourself as you purchase your practice and learn more about what it has to offer.

Before you purchase a dental practice, you need to:

Read More
Posted on 09/26/2018 at 10:36 AM

How To Value A Dental Practice

By Ali Oromchian Esq

When you are looking to buy or sell a dental practice, there are a number of steps you must take in order to be successful. If you are a dentist who is looking to sell, you might want to know what the market is like and what your practice is worth. Alternatively, if you are looking to purchase a dental practice, you might want to evaluate the value of that practice yourself, instead of solely relying on the assertions of the seller. Regardless of which party you are, you will need to be fully armed with the knowledge and understanding of how the evaluation process works. Failure to be informed could lead to a bad deal, sure to be accompanied by buyer’s or seller’s remorse.

Read More
Posted on 09/12/2018 at 03:43 PM

Subscribe to Our Blog

Hours

  • Monday

  • 8:00AM - 6:00PM

  • Tuesday

  • 8:00AM - 6:00PM

  • Wednesday

  • 8:00AM - 6:00PM

  • Thursday

  • 8:00AM - 6:00PM

  • Friday

  • 8:00AM - 6:00PM

  • Saturday

  • CLOSED

  • Sunday

  • CLOSED

Questions? Need More Info? Contact Us!