We also encourage our doctors to give the letter/email a more personal touch by including a picture of the buyer and his or her family. The letter should be very positive when introducing the new doctor. Posted in … The author, based in Providence, RI, is a lawyer and lecturer who specializes in dental-practice transitions. An “internal” …

Write an introductory paragraph explaining the need for the transition and thank them for the years of commitment to the practice. Transition Marketing Basics. To avoid claims of abandonment, dentists who are separating from practice (or the families of deceased or incapacitated dentists) must notify patients in writing. If the patient requests their records be transferred, you need to obtain written consent from any patient who is transferring to another dentist. The Dental Practice was large enough that the new owner will be able to retain one of the sellers of the dental practice as a full time associate while the other seller will retire. The contracting dentist(s) of an estate of a deceased or incapacitated dentist must obtain signed patient records release forms prior to use of those records. Over these months, she has gotten to know, … 5 Aspects of a Letter of Intent for Dental Practice Transitions - Professional Transition Strategies 5 Aspects of a Letter of Intent for Dental Practice Transitions Simply put, a letter of intent is a document of understanding between two or more parties used when a buyer is intending to purchase a practice. The Dental Practice was large enough that the new owner will be able to retain one of the sellers of the dental practice as a full time associate while the other seller will retire. The letters not only inform the patients of the dentists pending retirement, but favorably introduce the buyer as well. Dental Practice Transition Due Diligence Checklist Once the seller and buyer agree to the terms, the due diligence process begins, which can take anywhere from 30 to 45 days. The letter of intent is the legally non-binding document that contains all the elements of the practice transition that you have negotiated with the seller. The letter also includes a brief biography of the buyer, the buyers … Tips for a great transition letter from the seller: Have a professional photo taken of Dr. In general-dentistry practices, a long-term seller … In the case of a successful dental practice merger and even affiliation , careful due diligence is imperative. Dental school could never prepare me for the intricacies of purchasing a dental practice. The doctors should also consider sending an email announcement to all active patients just in case the mailer is overlooked. When you close or transfer your practice, it is important to send letters to your patients to officially communicate what will take place. These letters introduce the new buyer to the Patients in a friendly but professional manner. Seller and Dr.

This can be accomplished when you send a letter to patients’ right after settlement to let them know of the transition. Thankfully, Peak tirelessly guided me through understanding value and making the right purchase offer, deciphering loan documents and the underwriter’s phone call; reviewing charts and verifying practice data; effective hiring and management of a dental team, crafting a well-worded patient letter; understanding the … Much of it depends on the special circumstances of each transition.

With these two elements in place, a buyer`s patient loss will be minimal, even if the seller does not stay with the practice. The elements should include a positive staff and a well-written letter of introduction to patients. Many dentists … The Dental Practice was large enough that the new owner will be able to retain one of the sellers of the dental practice as a full time associate while the other seller will retire. We were able to match the sellers of this dental practice up with the perfect credentialed buyer which turns out …

Fewer than 10 percent of my sellers stay with the practice for more than a few days. Not only is this step essential as a courtesy to your patients, it may help you avoid an allegation of abandonment. What are the key elements of a good practice transition? There is more than one way to structure and effect a successful dental practice transition.

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