Re: [ACEsthetics] Bringing in an associate, selling or buying a practice... commonsense business rules

This is essentially what McGill and Hill do.  When I brought in my first partner on of the biggest stunners was just how many patients  I really had.  They are now visibly slowly moving to the partners which was the plan.  Guy

On Friday, May 3, 2013, ARUN NAYYAR wrote:

 Past few days I have been humbled by the number of pricate emails on our methodology and business model 

A business is a business.  There are established rules in MBA 101

Unfortunately most of us have no idea!!   We are just too smart and think we can do it ourselves.

I share my established protocol

We retain a person who works for us

.   This person specializes in putting together the  team that will do a practice assessment, put together the legal documents, interview potential money sources, negotiate the package and represents US..  

This person is not influenced by anyone and  can give us an unvarnished version at each stage.  After that it is upto us which path we take!!

SO we expect 

1.  A comprehensive review of a practice .  Including physical plant, location, equipment,  and too many details to list here

2.  Detailed audit of patient records. 

 Number of active patients is an eye opener, totally different than what the Dentist thinks

3.  Detailed audit of the appointment schedule  - tells us so much

   Financial audit  - this is absolutely critical with a forensic audit  

4.   Individual staff Disc profile - this separates toxic issues within the staff

5.  Dr and potential associate Disc profile  - critical.  Major corp do this routinely

 This gives us a sense if there is a compatible team

6. Then we do a Geographic audit , # of dentists in area, average income, race, gender, age group.... all these in a 2-5-10 miles radius.  

There are specialists we hire for this 

7. Marketing strategy and costs to expand business, or get the new associate busy or acquire a practice or expand a practice

8.  Attorneys- who deal with Dental contracts  .  Each is so individual and someone representing us should be reading all the stuff

9.  Financial arrangements.. the average CPA has no idea . Neither do most Bankers.!

So we have a person who knows the "words". the availability of monies and what to accept or reject.   1% on a loan can make a difference in the long run

This is an overview and if it helps even ONE of my colleagues, that will make me happy

If you have such a person or persons,   form a Team of Advisors who are watching out for YOU....    this should be the starting point

If you wish to contact the person who works with us,  please write privately

and  I will connect y'all

Once all information and details are validated and complete. 

THEN we have knowledge and are willing to implement a well thought out business plan.

A success model begins with fundamentals.   

Arun 

--
  

--
You received this message because you are subscribed to the Google Groups "ACEsthetics" group.
To unsubscribe from this group and stop receiving emails from it, send an email to acesthetics+unsubscribe@googlegroups.com.
To post to this group, send email to acesthetics@googlegroups.com.
Visit this group at http://groups.google.com/group/acesthetics?hl=en.
For more options, visit https://groups.google.com/groups/opt_out.
 
 

--
Guy W. Moorman
The Swamp
Douglas, Georgia

--
You received this message because you are subscribed to the Google Groups "ACEsthetics" group.
To unsubscribe from this group and stop receiving emails from it, send an email to acesthetics+unsubscribe@googlegroups.com.
To post to this group, send email to acesthetics@googlegroups.com.
Visit this group at http://groups.google.com/group/acesthetics?hl=en.
For more options, visit https://groups.google.com/groups/opt_out.