Practice Solutions

picture of credit card for credit card consolidation

What You Need to Know About Credit Card Consolidation for Doctors

Key takeaways:  Credit card consolidation takes multiple credit card balances and rolls them into one monthly payment. Doctors can often build up credit card debt in school and residency, which can quickly become toxic when not paid off. Personal loans are one option for consolidating credit card debt. Americans have over $840 million in credit …

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private practice medicine

The Changing Landscape of Medicine: Trends and Key Benefits of Private Practices

Key takeaways:  Private practice employment and ownership is declining. Owning and working for a private medical practice can allow a physician to have greater autonomy, can be more lucrative, and allows the owner to develop non-medical skills. Private practices are important to healthcare, allowing patients and providers to have more options. Most physicians are employed …

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practice buy-in

5 Things Physicians Need To Know About Buying Into a Medical Practice or Surgery Center

5 Things Physicians Need To Know About Buying Into a Medical Practice or Surgery Center Key takeaways:  Becoming a partner is a great way to become a co-owner in an existing, thriving practice. Before signing the agreement, review the buy-in offer, know the practice value, learn the income distribution structure, understand exit plan options, and …

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buying a dental practice

What You Need to Know About Buying a Dental Practice

What You Need to Know About Buying a Dental Practice Key takeaways:  Buying a dental practice allows the owner to get started right away with the security of historical finances. New owners may face difficulty in adjusting policies and dynamics in an existing practice. New owners may need to update dated offices and equipment. After …

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starting a dental practice

What You Need to Know About Starting a Dental Practice From Scratch

What You Need to Know About Starting a Dental Practice  Key takeaways:  Starting a dental practice from scratch allows full decision making in all aspects of the business. Dentists starting a new practice may face a high risk of failure, unplanned expenses and increased competition. Having professional support and a clear plan can help your …

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This is a picture of a dentist examining a patient's teeth.

Pros and Cons: Starting a Dental Practice vs. Buying an Existing Practice

Starting a Dental Practice vs. Buying an Existing Practice Key takeaways:  Buying an existing dental practice: Advantages include being able to work immediately, avoid patient acquisition, have knowledge of historical financials, and receive mentorship. Disadvantages are a potential need for updates, inherited practice culture and reputation, and previous management adjustments, Starting a dental practice: Advantages …

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buying a dental practice

Eight Steps to Successfully Buying a Dental Practice

Eight Steps to Successfully Buying a Dental Practice Key takeaways:  Start the process with a team of experts to assist you. Once the purchase is finalized, don’t wait to create a legal business entity, obtain insurance and other essential business tasks. Remember the end goal: serving patients. If you are considering dental practice ownership, you …

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This is a picture of a dentist using an iPad in front of a dental chair.

Owner vs. Associate: What to Know When Considering Dental Practice Ownership

Owner vs. Associate: What to Know When Considering Dental Practice Ownership Key takeaways:  Private practice dentistry owners often receive higher pay and more benefits than associates. Dental practice ownership has decreased in the last 15 years. Dental practice ownership can be incredibly fulfilling, personally and financially. Dental practice ownership can be incredibly fulfilling and beneficial …

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