Today, we are joined by Doug Copple from Bentson Copple & Associates.

He is here to share all the ins and outs of partnerships, associateships, and acquisitions. So, no matter where you are in your practice journey, there is something in this episode for you!


Summary: The conversation covers various aspects of practice valuation and the importance of clean data. It emphasizes the continuous process of valuation and the need for accurate and up-to-date information. The chapters also discuss the buyer's perspective, including questions and considerations, as well as the importance of practice management consultants. Non-competes and the benefits of practice ownership are also explored.


Takeaways

• Valuation is based on specific dates and requires clean and accurate data.
• The valuation process is continuous and involves updating information for potential buyers.
• Clean data is essential for efficient practice management and building trust with buyers.
• Considerations for sellers include prepaid patients, contract balances, and credits/refunds.
• Practice management consultants can provide valuable advice and support.
• Non-competes are important for both buyers and sellers.
• Ownership offers financial benefits and equity-building opportunities.

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Chapters 00:00 Valuation and Data Cleanliness
34:16 Continuous Process of Valuation
35:08 Importance of Clean Data
36:05 Examples of Data Cleanup
37:05 Buyer's Perspective and Questions
38:02 Considerations for Sellers
38:58 Prepaid Patients and Contract Balances
39:22 Credits and Refunds
40:12 Importance of Practice Management Consultants
42:15 Non-Competes
43:33 Ownership as the Best Route

Are you ready to start a practice of your own? Do you need a fresh set of eyes or some advice in your existing practice? Reach out to me- www.practiceresults.com.

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Episode Credits:
Hosted by Jill Allen
Produced by Jordann Killion
Audio Engineering by Johnny Mitchell