Are you considering selling your dental practice? Whether you are thinking about it or not, it is beneficial to know your options if that time comes.  This episode goes over some of the details including the risks and benefits of selling a private practice to Dental Service Organizations (DSOs) and to the private equity market. There are tremendous opportunities in the market right now for selling in one of these methods as opposed to selling directly to another dentist. My guest this week is Brian Colao, an attorney specializing in dental support organization, structuring, restructuring, and sales of private practices to dental support organizations or private equity agreements.

Listen to this episode to consider ways to receive the best value possible for your practice and to have a greater understanding of your involvement in deals to make the future successful for your organization.

In this episode, you’ll hear:

• Consolidation of practices is continuing at an unprecedented rate and selling directly to other dentists is a process that is phasing out.
• What a DSO is, how selling to one can benefit you, and the level of involvement you can still have.
• What a private equity transaction is and what that means to you.
• There is a shortage of dentists in the United States right now and DSOs typically do not want to “clean house,” instead they want to keep productive offices moving forward. 
• Dentistry has proven to be recession-resistant and since 2010 or 2011 has stirred increased attention with private equity investors. 
• How to know whether you like a hands-on or hands-off oversight when considering going with a DSO versus a private equity deal.
• The importance of asking for references before getting involved with people in the industry.
• Staffing programs for practices around the country and opportunities in remote areas.
• Information on the upcoming conference this July in Dallas. This is a great opportunity to learn more about this marketplace.

Connect with Brian Colao:
Dykema

Brian Colao

DSO information

Connect with Russell:

Dr. Russell Kirk

Podcast

Facebook - https://www.facebook.com/businessofdentistrypodcast/

IG - https://www.instagram.com/businessofdentistry/

Twitter - https://twitter.com/businessdentist

LinkedIn - https://www.linkedin.com/company/business-of-dentistry/

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EPISODE CREDITS:

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com 

This episode is filled with great information on the importance of taking a step back and ensuring your priorities, such as your health, are staying central to how you are living. Sometimes radical changes are necessary to achieve a level of self-care that is necessary for a good quality of life. 

I am pleased to welcome Dr. Josie Dovidio to the Business of Dentistry podcast. After 22 years of owning her own practice, she is currently on a sabbatical from her dental career. She experienced a great deal of success within the field of dentistry, however, about a year ago she began to evaluate her health and realized she needed to make some changes. 

So, she sold her practice. And yes, the adjustment period brought its own challenges, which we discuss in this episode. She also learned how to fill her time in productive ways aimed at calming instead of adding stress. 

In this episode, you’ll hear:

• The importance of self-care in the dental profession.
• It’s so easy to let work control life and add stress. Stress is hard on your health and must be controlled.
• The importance of living within your financial means so you can make a change in your professional life—if the need arises.
• Dentistry should be a part of your life but you should not let it define you.
• Dr. Dovidio’s entrance into the world of podcasting.
• How she learned to love humanity again after a period of feeling bitter.

Connect with Dr. Dovidio:
Dr. Josie Dovidio Articles (Dental Hacks)

Dr. Dovidio The Author

Josieology.com

Josieology Podcast

Josieology Facebook

Josieology Instagram

Josieology Twitter

Connect with Russell:

Dr. Russell Kirk

Podcast

Facebook - https://www.facebook.com/businessofdentistrypodcast/

IG - https://www.instagram.com/businessofdentistry/

Twitter - https://twitter.com/businessdentist

LinkedIn - https://www.linkedin.com/company/business-of-dentistry/

***

EPISODE CREDITS:

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com 

This week it is my pleasure to speak with Duane Tinker and he has a very interesting background! Duane worked in the Texas law enforcement industry then transitioned to a dental office investigator. His challenge with transitioning to this role was learning the dental industry so he could do his job well. He dealt with areas such as investigating clinical complaints against practices, fraud, and people working outside the scope of their licensure. 

Through this role, Duane met many dentists and realized they were great people—some just didn’t know, what they didn’t know. Drawing on his law enforcement experience, Duane recognized the value his experiences could have when shared with dental professionals, in a meaningful way, to prevent them from getting into situations such as the ones he was being assigned to investigate.

This realization was the catalyst for opening his own business to help stand in the gap for dentists and help dentists prevent situations that could bring about legal action against them. Duane’s perspectives are very important for all dentists to hear so be sure to listen to this episode. After all, you may not know what you don’t know.

In this episode, you’ll hear:

• Tips for dealing with an investigator if you are faced with this situation.
• Make sure you have an attorney on your speed dial. Know which one to use and which ones to avoid. Make sure the attorney is someone you know and trust.
• Lying to an investigator is obstruction of justice so make sure you are protecting yourself and preserving your rights by not commenting initially to an investigator.
• Electronic records would need to be printed for an investigator working under a subpoena.
• Duane realized how many great people are in dentistry and that he wanted to work with dental professionals to help them understand which dangers can occur in their practices they may not be aware of. 
• How Duane’s company, Dental Compliance Specialists, can help dental practices.
• The importance of having your paperwork and compliance information in order.
• That details matter. For example, having expired medications could result in disciplinary action.
• Duane’s office is in place to help the good dentists out there prevent situations from getting out of control.

Resources mentioned in this episode:
Dental Compliance Specialists

Speak with the Tooth Cop

Talking with the Tooth Cop - Facebook

Talking with the Tooth Cop Podcast

Connect with Russell:

Dr. Russell Kirk

Podcast

Facebook - https://www.facebook.com/businessofdentistrypodcast/

IG - https://www.instagram.com/businessofdentistry/

Twitter - https://twitter.com/businessdentist

LinkedIn - https://www.linkedin.com/company/business-of-dentistry/

***

EPISODE CREDITS:

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com