Save Thousands When Hiring Your Dental Associate
At 1st Med Transitions, we understand that Hiring A New Associate on your own can be a difficult and time consuming task. You may be asking yourself... do I have the time to search and sift through applicants? Or, maybe you don't even know where to start.
When you hire with 1st Med Transitions, you are working with a team that combines industry expertise with entrepreneurial innovation. We will listen to your needs and goals, use data and creativity to optimize the search for a new associate.
Benefit #1 Direct Industry Knowledge
Whether it's for transitions, valuations or financing requests, our advisors are continuosly working with practice owners in your industry. In order to attract a good associate, you need to know the marketplace and the type of opportunities they are looking for. Your Associate Placement Advisor will work with you to deterimine and structure the right job offering.
Benefit #2 Exisiting & New Contact Database
Our unique digital marketing platform has allowed 1st Med Transitions to build a growing database of industry professionals looking to join successful and growing practices just like yours. All of our assocaites candidates have been pre-screened and assessed to determine their qualifications to join a practice.
STEP #3 Contract Negotiations
Although we have compiled a growing database of potential candidates, our allegiance lies with the practice owner and we will always work to negotiate terms that are satisfactory to our clients.
STEP #4 Review Offers
One of the most overlooked part of the Dental Practice Sales process is the sales negotiation. Every contact between buyer, seller and broker, from initial discussion to closing, is an opportunity to lay the groundwork for future negotiations. One single event does not typically lead to the successful sale of your dental practice. It is a combination of the presentation, offering memo, timely communications and direct industry knowledge that lead to a win-win negotiation.
STEP #5 Due Diligence
We've accepted an offer, but our work is not done. The difference between a closed transaction and a failed one, can many times comes down to the attention to details. We will work with the buyer on reviewing the books, practice reports, securing financing (if needed) and sales contract negotiations.
STEP #6 Closing
There are a number of aspects that lead to a successful closing - deal structure, non-competes, escrow, representations and warranties and transitions agreements. We stay on top of every step in the process from the marketing, letter of intent, due-diligence to the purchase & sale agreement and ultimately closing.
STEP #7 Transition
The sale is finally closed, but our job is not yet complete. Perhaps one of the most important, but often overlooked parts of the sales process is the Post Close Transition Period. There are many factors to consider, including credentialing, procedures and systems training, employee management, insurance transfer, etc. Our Transition Advisors make sure both parties are comfortable with the plan and are always available to help execute it.
If you are considering Hiring Your Dental Associate, or just want to get a sense of what your practice would get on the market, we would love to discuss further.
To get started, complete our Dental Practice Sales Consultation Form Here and one of our experienced practice transition advisors will contact you within 24 hours.