Join Orthodontic Products Chief Editor Alison Werner as she talks to Kerry Cahill, Esq, a lawyer at Westfield, NJ-based Lindabury, McCormick, Estabrook & Cooper, who specializes in healthcare and frequently works with doctors in private practice. In this podcast, Cahill reveals how orthodontic practices can maximize their business, with regards to property leasing and/or buying as well as risk mitigation.

To start, Cahill shares what metrics she uses when helping clients decide whether to lease or buy a practice property, and to get started, she advises practitioners to do their market research. She also lays out the common pitfalls leasers face, specifically the fact that practice owners often fail to articulate their deal breaking terms at the start of negotiations and that they may not be as well educated on regulations and laws that apply to their practice. Knowing the regulations and laws that pertain to operating an orthodontic practice are important because commercial landlords might not be up to speed on such matters. She also discloses what orthodontic practice owners should know before they attempt to negotiate a lease. And for the orthodontists who want to buy a practice space, Cahill reveals the red flags they should avoid. In other words, buyer beware. 

What’s more, Cahill offers advice to practice owners as they navigate property purchases and leasing with the threat of a recession looming and talks about why having a lawyer on your team when leasing or buying a property can be an advantage. 

Finally, Cahill shares the keys to negotiating a competitive contract and why practice owners should never rush a contract and/or closing date. She also shares how often financially savvy orthodontic practice owners should review their risk mitigation policies and the role an attorney can play in helping practices set up their risk mitigation policies. OP