Dental and Medical Counsel Blog

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

How to Recognize Red Flags When Buying a Dental Practice

By Ali Oromchian Esq

If you are in the market to purchase a dental practice, there are a number of things you will need to know about the search process. Whether you are new to the buying game or a seasoned professional, being prepared in advance is the best way to go. By understanding the red flags discussed below and why they are of importance, you will soon be ready to continue forward with the purchase process.

Read More
Posted on 03/27/2019 at 10:16 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

What Dentists Need to Know About Relocation Clauses in Commercial Leases

By Ali Oromchian Esq

Anyone who has gone through the process of choosing a location for a dental practice knows that commercial lease agreements contain potential pitfalls for the unwary. One especially dangerous provision is known as a "relocation clause" (sometimes called a "substitution clause"). In this blog post, we discuss what relocation clauses are, how they may affect your dental practice, and ways your attorney may negotiate them to minimize your exposure. 

Read More
Posted on 12/05/2018 at 11:51 AM

The Top Questions You Should Ask Yourself When Buying a Dental Practice

By Ali Oromchian Esq

Purchasing a dental practice is one of the most exciting career milestones a dentist will ever achieve. However, failure to proceed with caution can produce devastating financial consequences and hinder your ability to attain your career goals. Before buying a dental practice, you should ensure that the practice is compatible with your philosophy and long-term professional vision. Additionally, if you have never purchased a business, you should consider seeking the guidance of an experienced dental attorney who can help you make sure that the practice is in good legal and financial standing. Below are the top six questions you should ask yourself before purchasing a dental practice. 

Read More
Posted on 11/14/2018 at 11:33 AM

Understanding Shared Dental Space Agreements

By Ali Oromchian Esq

Dentists across many ages and different types of practices are looking for ways to cut back on costs--and sharing dental space is an excellent way to accomplish those goals. There are several key reasons why dentists choose to enter shared space agreements, including reducing overhead, trying to maximize the use of their facility, or minimizing risks as they open their first practice. If you're considering a shared dental space arrangement, it's important to be sure that you understand the details of shared dental space agreements.

Read More
Posted on 10/24/2018 at 04:53 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!