Podcast/Blog Posts

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Group Premiums - Reality or Yeti?
Group Premiums   A common topic of discussion revolves around how much more groups are willing to pay for a given practice versus an independent dentist - a/k/a the "Group Premium".   Group Premiums have nothing to do with fundamental value.   Group Premiums represent the incremental equity risk...  Read More
Most people believe that if their teeth look clean, they probably are. A bright smile, no visible stains, and a quick brushing routine can create a sense of confidence. But oral health is not always that straightforward. There is often a fine line between teeth that appear clean and teeth that are...  Read More
1692 Productive Dentist Academy : Dentistry Uncensored with Howard Farran
Episode #1692 : Dentistry Uncensored with Howard Farran, Victoria Peterson of Productive Dentist Academy shares powerful insights on building a practice that’s not just profitable—but truly sustainable. From honoring the legacy of co-founder Dr. Bruce Baird to navigating private equity, AI, and...  Read More
1690 Growth Without Burnout : Dentistry Uncensored with Howard Farran
1690 Growth Without Burnout : Dentistry Uncensored with Howard Farran Dr. Kartik Antani is a Top 40 Under 40 dentist with expertise in sleep dentistry, TMJ therapy, dental implants, and group practice operations. Having purchased and scaled multiple practices, he brings a rare blend of clinical...  Read More
Orthodontic treatment has changed significantly over the last few decades. In the past, metal braces were the main solution for correcting crooked teeth. Today, dental technology offers a wide variety of treatment choices designed for both teenagers and adults. These options aim to improve tooth...  Read More
Many people grind or clench their teeth without realizing it. This condition is known as bruxism. It often happens during sleep, but some people also grind their teeth during the day. While occasional grinding may not seem serious, frequent grinding can harm the teeth and jaw over time. Teeth...  Read More
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
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