A pair of new publications from the American Dental Association (ADA) are designed to help dentists during transitional times in their careers.
The ADA Practical Guide to Valuing a Practice is designed to help dentists uncover the value, and not just the monetary worth, or their practices, while The ADA Practical Guide to Associateships, has information about adding or becoming an associate from both perspectives, according to a press release.
A revised version of a previous publication, the practice value guide looks at all aspects of buying or selling a dental practice including legal and tax issues. It includes sample sales documents and contracts. The associateship guide covers both logistical and contractual issues as well as interpersonal relationships.
Print versions as well as e-book versions of both guides are available at www.adacatalog.org.
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ADA Offers Two New Resources on Practice Valuation and Associateships
Chicago — The American Dental Association (ADA) has released two new resources to assist dentists with some of the toughest transitions of their careers. The ADA Practical Guides to Valuing a Practice helps dentists understand a practice's true value, not just its monetary worth, while The ADA Practical Guide to Associateships demonstrates the risks and rewards of adding or becoming an associate - from both points of view.
The ADA Practical Guide to Valuing a Practice: A Manual for Dentists
Dental practice buyers and sellers get a balanced view of practice valuation in this revised publication. Refuting many common valuation myths, this book raises awareness of possible legal and tax issues that may arise during this process. Also provides guidance on selling or buying an entire practice, a portion of a practice and planning a future buy-in or buy-out.
Key features include:
- Definitions of key terms
- How to select a person to perform the valuation
- How to choose the valuation method that is right for you
- Examples of sales documents and contract provisions
The ADA Practical Guide to Associateships: Success Strategies for Dentist-owners and Prospective Associates
This guide provides dentists with information to help them build a successful partnership. Strategies are offered for tackling both logistical issues -- such as the type of associate arrangement, compensation, contract terms, and buy-ins – and intangible issues, including interpersonal considerations and compatibility, developing a practice philosophy and conducting a goals assessment.
Key features include:
- Sample contract provisions
- Advice for determining compatibility and developing a bond of trust
- Options for financial arrangements
- Tips on how to prepare for the process
Print books are available for $49.95 member price and $74.95 retail price and can be ordered at www.adacatalog.org or by calling 1-800-947-4746. Books are also available as a kit for a discounted price and as e-Books and print/e-Book bundles.
Source: American Dental Association