The service, which is backed by the ADA and focused on helping dentists make the process of joining or leaving a practice predictable and successful, matches dentists with practice owners by considering aspects such as philosophy of care, personality traits, location, and desired practice characteristics. It expanded to all 50 states in October.After Dr. Bob Heil created his ADAPT profile, it took only six months to find a match, a five-operatory practice a short drive from home. The practice had an established fee-for-serve practice with “good business and clinical practices that matched” their philosophy. The current owner had wanted to sell so he could retire.
Dr. Bob Heil spoke with the New Dentist News about the couple’s journey, including their experience with the ADAPT process and how it ultimately connected them with the perfect practice.
Why did you decide it was time to buy a practice?
It was the right time in our life to add an additional practice to help meet our personal financial goals.
How did you start your search? How did you find ADAPT?
I began searching several years ago by myself and through other brokers. I began using ADAPT after receiving an introductory email, not knowing that this was a new service through the ADA.
What were you looking for in a new practice? What were the most important factors, and which were you willing to compromise on, if any?
I was looking for a combination of an established fee-for-service practice with good business and clinical practices that matched my philosophy. I did not want to overhaul the physical environment and retrain staff and patients to meet my standard of care. Having all the technological gadgets wasn't necessary. The location was important but not the most important consideration. However, lease arrangements and the option to purchase the location was.
How did your ADAPT experience go?
My experience with ADAPT was unbelievably easy and user friendly. ADAPT has a great system of matching clinical philosophies between the seller and prospective buyer that streamlined the time required to find a suitable fit. There were several practices that I would consider to be good matches with this being just about everything I was looking for.
What’s next for your new practice?
I don't have major plans other than continuing the same clinical care and business operations that have been established and see where it takes us.
What advice would you give to someone considering their own practice transition?
ADAPT was more interested in finding me the right practice to purchase than any other broker and continued to make sure the entire transition process was a success for both parties. I believe their network can find the right fit for everyone.
To learn more about ADA Practice Transitions, visit ADAPracticeTransitions.com.