Dental and Medical Counsel Blog

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

Understanding Non-Competition Agreements for Dental Practices

By Ali Oromchian Esq

What does a non-competition agreement mean?

There are usually three scenarios when non-competition agreements or as some refer to as, restrictive covenants come into play.

 

Read More
Posted on 10/03/2018 at 09:00 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!