Exactly like it sounds, in a blended practice there is a mix of both patients from insurance plans and fee-for-service. Insurance plan patients benefit as they typically get a greater level of service/care that fee-for-service patients are used to, however their costs are reduced due to the insurance plan. Its not uncommon for blended practices…
A fee-for-service practice does not participate or accept any insurance plans. All associated costs of service are agreed upon between the dentist and the patient. Doctors and hygienists are usually treat just one patient at a time causing a reduced patient flow, however, allowing the office to operate on-time with little difficulty. In many cases,…
Your approach to starting a new practice can differ greatly on your experience as a dentist as well as what you hope to achieve as a practice owner. 1. Starting a practice as a new dentist. As a young dentist starting a practice one of the most important things we suggest would be looking into…
There is a MAJOR advantage to an established practice – an existing patient base — and just as important, an existing cash flow. This instantly allows the buyer (you) to support the practice debt load, including your new loan payment, your salary and your personal expenses. Lenders usually look for the practice and doctor’s personal…
Slowing down your career later in life is a major decision. Most optometrists truly love their profession and continue to practice well into their 70s and often 80s. But why? Is it because they cannot afford to retire… or is it that they simply do not have the proper exit strategy? Many often choose to…
