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The profession of dentistry has changed enormously. From the heyday of single practitioners working four days a week, corporate dentistry now provides consumers with more convenient hours, better locations, and care that's covered by insurance. Today, the easiest hygiene appointments to sell in metro areas are between 6:00 p.m. and 9:00 p.m. Consumer demand has changed, and private practitioners who don't evolve to meet this new demand will see their profits continue to erode. The solo model no longer works if dentists want to compete with corporate shops.
In The Win-Win Outcome: The Deal Maker's Guide to Buying and Selling Dental Practices. Mark Murphy and Bernie Stoltz explain that the future of dentistry is to practice in groups. With a combined half century of experience, the authors believe that where the profession is heading offers enormous opportunity for dentists-to run better practices, lead better lives, and create lasting wealth. The Win-Win Outcome shows you how. Private doctors can merge into a more efficient business model without giving up their private-practitioner status or the opportunity to build equity in a practice.
Borrowing strategies from the corporate model-such as extended hours, modern technology, and multiple specialists under one roof-private practitioners have the tools to outperform their corporate competition. By forming group practices through mergers and acquisitions, entrepreneurial dentists can produce fantastic dentistry for the consumer and create multi-generational wealth for themselves. Associate, mid-career, and late-career doctors can all benefit. In this new era of dentistry, The Win-Win Outcome demonstrates that there is no better way for a dentist to create lasting wealth than to merge his or her practice with another.