Think about the last time you made a major life decision. Was it buying a home, moving to a new town, or choosing a dental school?
You probably made your decision after carefully considering how that home, town, or school fit with your personal goals, plans, and personality. But you may have done that informally or subconsciously. When it comes to buying and selling a dental practice, finding a job, or hiring a new associate, we believe it is best to take an intentional approach to achieve your desired outcome.
The traditional dental practice transition process often overlooks the qualities that make you or your practice unique, which can lead to impersonal transitions that are detached from you or your practice’s needs and values.
That’s why ADA Practice Transitions (ADAPT), a service backed by the ADA, was developed. We believe the process should be transparent and predictable, with matches rooted in shared practice values, ensuring long-term success for patients and practices alike.
Traditional practice transitions can overlook what matters most
Traditionally, dental transitions are largely based on finding a match based on finances and location, with little consideration for finding a practice that matches a dentist’s approach. The focus is on getting to a closing; once the paperwork is signed, the dentists are on their own. That approach focuses on the transaction, not the transition.
Ignoring how a dentist actually practices—their work style, preferences, and treatment approach—greatly affects both the transition’s success and the practice’s long-term vitality. A disconnect in simple matters such as whether a dentist prefers to run a single operatory as opposed to multiple can lead to frustrated patients and staff down the road. Ultimately, when two dentists’ priorities and preferences aren’t aligned, transitions can fail. And that can leave patients without a dentist, and staff without jobs. Not to mention the sacrifice of a community legacy that some dentists dedicate their lives to building.
There has to be a better way.
As dentists retire, they want to ensure their practice doors stay open and their patients are cared for. Research leading to the creation of ADA Practice Transitions made one thing very clear: dentists expect more from the current transition process to ensure continuity of care and a thriving profession.
Sellers want to retire with confidence, knowing that their long-term patients will be cared for. Buyers are searching for a practice where they can establish a rewarding career while ensuring quality time with family.
Every practice is unique, as is every dentist. So why should they follow the same practice transition blueprint? The world is moving toward more customized services, built on digital platforms that enable transparency and choice. Why shouldn’t dentists have a way to buy or sell practices that gives them that same transparency and choice, while helping them find the perfect fit?
Dentists expect—and deserve—better than the old, one-size-fits-all practice transition process.
Meet ADA Practice Transitions—the new way to buy and sell dental practices
After an extensive research process, surveying dentists in all phases of their careers, we developed ADA Practice Transitions as a better option for dentists looking to enter or leave a practice.
Rather than simply focusing on the closing, ADAPT looks beyond the transaction to help dentists find the right practice or person, and then offers the tools and support they need to foster a successful relationship. Making the right fit helps ensures high-quality care for your patients and enables your independent practice to thrive for decades to come.
So how does ADAPT facilitate those relationships?
A focus on philosophy of care
First and foremost, ADAPT takes a more holistic look at matching two dentists. While location and finances are important, we believe that a dentist’s practice approach, their “philosophy of care,” is just as important.
When two dentists are aligned on their philosophies of care, they are more likely to be aligned on both the day-to-day and long-term decision-making.
Examples of philosophy of care include:
- Does a dentist take a more conservative, “watchful monitoring” approach or prefer to treat at the first sign of a problem?
- Does a dentist prefer to focus on “bread and butter” dentistry—cleanings, fillings, extractions—or do they also do a lot of cosmetic procedures?
- Do they do most of their own treatment, or do they refer out?
- Do they like to consult with another dentist on cases or work relatively independently?
- Do they delegate work to auxiliaries, or are they more hands-on with patients?
- Do they need to always have the latest technology?
- Are they more talkative with patients, or do they prefer to keep things all business?
There is no right or wrong answer to any of these questions. Dentists have built wildly successful practices with delighted patients with the full spectrum of answers to these questions. While a difference on any one of these won’t doom a relationship, significant disconnects can lead to an unsatisfying and frustrating working relationship. In fact, ADAPT research shows that matching dentists on questions like these helps improve the long-term success of practice transitions.
A team of expert advisors, dedicated to success
Even the best relationships can benefit from some guidance, especially early on. That’s why ADAPT assigns a dedicated ADA Advisor to each participating dentist. This ADA Advisor works closely with dentists at every step of the transition.
- Helping dentists articulate their preferences and weigh their options
- Facilitating relationship-building conversations between potential matches
- Providing the right resources when they’re needed, such as a contracting tool kit
- Serving as a long-term Advisor, with periodic check-ins long after the transaction
Our ADA Advisors are experts in practice transitions. They have navigated their own transitions and/or helped facilitate transitions of all shapes and sizes. They serve as an objective third party, providing a wide array of support and educational materials to help answer the questions dentists may not have considered.
For example, the ADA Advisor can help a new associate understand what to look for in a contract or help a potential buyer spot a “diamond in the rough” practice that can be transformed into their dream practice.
An extensive network for practice sales and associateships in every state
ADAPT has developed an expansive network throughout the United States. After a successful eight-state pilot, ADAPT has expanded nationally to service the entire United States. By working with state and local dental associations, ADAPT is recruiting hundreds of new dentists to the platform. That means that, unlike a broker who is generally focused on a single city or region, ADAPT can help dentists find matches wherever they want to practice.
This flexibility gives dental students more options than ever before, as they are no longer limited to regional networks and sometimes-limited job boards. It also gives established dentists access to the widest possible hiring pool, helping them find the best possible person for their practice. In addition, dentists who want to relocate for family, or any other reason, can work with ADAPT to find matches across the country.
Significant cost savings compared to traditional options
ADA members can save significantly compared to the traditional transition model. ADA members pay just 4% of the practice sale price, compared to 7% to 10% for many traditional options. It costs nothing to join ADAPT, and there is no monthly fee. Dentists pay only when the deal is closed.
Recent graduates looking for their first associateship pay nothing at all to help their transition into the profession be as smooth and successful as possible.
What to expect from a better transition process
The entire ADAPT process is more accessible than traditional options. The online platform and guided transition experience allow dentists to get help when needed but also take control of the experience, customizing the process to fit their lives and schedules.
ADAPT doesn’t keep you guessing. At every step, you can log in to your online profile and see where you stand, which matches have been suggested, which you have accepted or declined, and what your next step is in the process. And to protect both your and your matches’ privacy, you will only see anonymized details about potential matches, such as approximate location and high-level details. No photos or specifics will be shared until both sides agree that the match has potential.
The process is simple:
- Complete the online profile
- Work with your personal ADA Advisor to assess potential matches
- Navigate the transaction with Advisor support, tool kits, and resources
- Enjoy long-term success for you, your patients, and your practice
- Utilize your ADA Advisor to help solve any issues long after the transition
We created ADAPT to focus on what matters most to you. We believe that matching based on your values enables both dentists in your transition to be more confident, more satisfied, and better positioned for the future, ultimately creating a better experience for the patients you serve.
To celebrate ADAPT’s national launch, any dentist who completes his or her profile by the end of the year will receive special pricing on their ADAPT-facilitated match.
Visit ADAPracticeTransitions.com and start your profile today.
SUZANNE EBERT, DDS, graduated from University of Louisville College of Dentistry. After completing a residency, she started a successful solo private practice and then became the dental director at a local federally qualified health center. Under her tenure, the clinics expanded and ran efficiently and profitably while addressing real needs in the community. As adjunct faculty for the University of Florida, she worked directly with senior dental students. To learn more about how ADA Practice Transitions is making dental transitions more predictable and successful, email Dr. Ebert at [email protected].