Practice Transitions Frequently Asked Questions
What types of dental practices does Midwest Dental purchase?
We seek to partner with hometown family and general dentistry practices. There is no maximum size but we do seek practices with at least four days of doctor and hygiene per week. We don’t purchase specialty or boutique practices.
Who is involved in the dental practice buying process?
Members of our experienced clinical, operations, recruiting and development teams collaborate to provide a smooth and efficient transition. And most importantly, you are involved in every step along the way.
What is the practice valuation process?
Midwest Dental grew from a single private practice, and we understand that every dental office is unique. We take an in-depth look into the most crucial elements that define the success of any practice – namely, the quality of the patient base, the staff and the mix of services provided.
Do you charge any fees?
No, we do not. All we ask from you is some time and information to help us collect the necessary diligence to complete our analysis and develop a proposal.
How long does the dental practice transition process take?
Once an agreement is reached, an actual closing and funding usually takes 4-6 weeks. We are a cash investor and require no third party approval or funding to finalize any purchase. Simply put, if we have a deal, it gets done.
What can I expect when transitioning my dental practice?
Sellers and staff should anticipate changes in software, clinical charting, operational processes and new employee benefits. The changes in protocol related to patient assessment and treatment are grounded in current science and research and we are confident in the benefits of these changes. A dedicated member of our Integrations team will be onsite to walk you through the process.
What if I want to continue practicing long-term after I sell my practice?
We would love it. We want to develop a transition strategy that aligns with your goals, and if that includes your ongoing care and service in the practice, we welcome it. We’ll work with you to establish an exit timeline that allows you to continue practicing until you’re ultimately ready to retire.
What happens after I combine with you?
The first couple months are primarily dedicated to integrating your existing processes into our own. And while we understand this can be a bit of a challenging time, our team will be there to walk you through it step by step. And after, you will continue to lead your practice with the added benefit of our expert support team, who will assist with matters like insurance processing, information technology, payroll, marketing, human resources and more.
Will I be able to maintain clinical autonomy?
Absolutely. Our transition approach and clinical care philosophy are designed to preserve this. You will continue to make your own clinical decisions, lead your team, build the practice and maintain your existing lab and referral relationships. Doctors we support are 100 percent in charge of their treatment planning and patient care decisions – as they should be.