Podcast/Blog Posts

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Multiply What Exactly?
Most folks want to rush to The Great Multiple Discussion.  What factors should I apply to which income statement items to figure out the value of my practice?   Far fewer people spend time discussing what they’re actually multiplying - i.e. revenue, SDE, EBITDA, free cash flow, etc. Moreover,...  Read More
The Sucker’s Bet - Key Person Risk
What is Key Person Risk? Key Person Risk is the threat to a business’ stability, operations and financial performance arising from its over-reliance on a single individual or small group, such as a founder CEO or a key sales person.  If the key person leaves, becomes incapacitated, or dies, the...  Read More
Is Group Practice Equity Already The Next Tulip Bulb Craze?
Is Group Practice Equity Already The Next Tulip Bulb Craze? WTF was the Tulip Bulb Craze? The tulip bulb craze, historically known as Tulip Mania (or Tulipomania), was a period of intense financial speculation in the Netherlands during the Dutch Golden Age. Often cited as the first recorded...  Read More
What's Your Multiple Kenneth?
What’s Your Multiple Kenneth? Let’s give organized dentistry some credit, we’ve done a bang up job on educating the market about a variety of things when it comes to scaling businesses. One unfortunate byproduct is the ubiquitous watercooler discussion of, “What multiple do you pay?”   ...  Read More
Personal Guarantees In Affiliations
Personal Guarantees & Affiliations An increasingly common conversation topic is Personal Guarantees ("PGs") - specifically joint and several - in the context of group practice affiliations.   Yes, PGs from the new - now minority - shareholders. The bidder is likely to suggest that their...  Read More
Modeling School
Modeling School Ah, group dentistry.  As new groups spring up, existing groups nose dive.  The circle of life. You may hear the question, “Which model is right for you?”  TopCo, JV, Parent, Hybrid, SubDSO, DPO, LOL, DMO, AKA, WTF.  So many folks go to such great lengths to relabel themselves....  Read More
Deal Structuring:  Just what is “market” these days?
Ok, we’ve covered a lot in recent weeks - debt, equity, TopCo/JV, partnership considerations, etc.   So what about deal structuring?   Deal structuring lays out the components of a deal and how the parties intend to fund or finance them.  The most bandied about term is “cash-at-close” (“CAC”)  -...  Read More
New Partner Considerations
New Partner Considerations The purpose of this article is to provide an overview of the puts and takes of bringing a new partner into your practice or group. Valuation Considerations There has been a marked increase in independent dentists using groups for “stalking horse” valuations to boost...  Read More
A Valuation Without Context Is Worthless
When it comes to business valuation, everyone loves to rush to “the multiple” discussion - i.e. what multiple of revenue or unlevered free cash flow (EBITDA) is used to arrive at the Total Enterprise Value (“TEV”). While this approach can be directionally accurate and helpful for “swagging”...  Read More
“What’s Your Equity Story?”
The contemporary forms of group practices (DSO, DPO, DMO, ABC, DGO, LOL) are approaching their sixth decade of operations.  As the labels and models proliferate, an increasingly common conversation is: “So, what’s your equity story?” Fantastic question. I encourage anyone curious about...  Read More
Children’s teeth go through many changes as they grow. From learning to chew to forming speech sounds, healthy teeth play an important role. When tooth decay appears, choosing the right filling material can make a big difference. Tooth-colored fillings are now widely used for treating cavities in...  Read More
Orthognathic jaw surgery is a corrective procedure used to fix jaw alignment problems. It is recommended when the upper and lower jaws do not fit together properly. These issues can affect chewing, speaking, breathing, and facial balance. In many cases, braces alone are not enough to correct...  Read More
Many people want a brighter smile, but sensitive teeth often make whitening feel risky. A simple sip of cold water can already cause discomfort, so the idea of whitening products may feel intimidating. The truth is that sensitive teeth do not rule out whitening. They only require smarter...  Read More
The shape of a child’s upper jaw plays a big role in dental health. When the upper jaw is too narrow, teeth may not fit properly. This can affect how a child bites, breathes, and even speaks. A palatal expander is designed to gently widen the upper jaw at the right stage of growth. Parents often...  Read More
A maxillary skeletal expander is a modern orthodontic device. It helps widen the upper jaw. This jaw is also called the maxilla. When the upper jaw is too narrow, it can cause many dental and health problems. A skeletal expander works directly on the jawbone. This makes it different from...  Read More
Our Ongoing Staffing Conundrums
Optimizing the staffing model for any practice always seems to be a work-in-progress.   Dentistry is certainly not getting any easier, and top line pressures only exacerbate the need to identify pockets of opportunity in practice overhead. You can only wring out so many efficiencies in supply...  Read More
In a busy dental practice, urgent patient needs are common. When a patient calls with pain, swelling, or a broken tooth, immediate attention can prevent further damage and build trust in care. A dental team that is prepared for urgent situations improves patient satisfaction and helps the...  Read More
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