Dental Transitions

Your Trusted Practice Transition Partner

At KLAS we have well defined workflows to systematically guide both buyers and sellers from initial engagement, through closing and beyond.  We understand the process can be stressful so we are right there with you managing the process from start to finish.

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Transition Success Stories

The KLAS Transitions Difference

We are results driven.  Here is what sets us apart from the rest..

You will be surrounded by trusted experts with integrity

We work with partners in all facets of dental practice transitions and management to ensure we are able to support you whenever you need us.  Some transition companies are solely focused on the practice transition and really do not understand the business of dentistry and how the real estate plays into the process of finding the right buyer and getting the most out of the time and investment you've made your whole career.

We engage in respectable deals only

We want Seller and Buyer to have long lasting rapport and trust through transparency and encourage Buyers to have good due diligence to mitigate dismay at the 11th hour. The Industry norm is to push deals through quickly without Buyer’s proper due diligence or even legal representation which creates tremendous liability for both Seller and Buyer.

Zero retainer or deposit fees

Put simply, there will be more money in your pocket when you partner with KLAS when buying your practice. The industry often charges $3k-$5k and up to as much as $10k just to engage Practice Transition services on the front end. Many will keep the retainer if a transaction does not occur.

Lower fee structure than our competitors

KLAS provides the most favorable and fair fee structure in the industry, equating to tens of thousands in savings to you.

We market our practice to qualified buyers only

We vet and then interview qualified buyers to ensure the right match and minimize risk of the deal not going through. Some competitors just want to close deals fast to get the commission regardless if it is a right fit for both sides.

100% of the Transition Process is managed by our Team

Our team provides experts with financial, operational, legal and real estate expertise who all work together on your behalf to secure a transaction that meets your goals.

We engage in respectable deals only

We want Seller and Buyer to have long lasting rapport and trust through transparency and encourage Buyers to have good due diligence to mitigate dismay at the 11th hour. The Industry norm is to push deals through quickly without Buyer’s proper due diligence or even legal representation which creates tremendous liability for both Seller and Buyer.

Thank you is the least I can say for the personal and professional service you have provided to me during this transitional period in my life.  Phil, you are definitely a man of integrity, driven to provide professional help in all areas of concern...

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Paul Lewis, DDS

Our Trusted Partner Promise

You will save $$$

  • Lower Fee Structure than Competitors
  • Zero Retainer Fees
  • Zero Deposit Fees
  • We won't waste your time
Sounds good, Contact me please.

4 Common Dental Transition Mistakes and How to Avoid Them

We’ve worked with a lot of clients to help them successfully transition to dental practice ownership. We’re proud of our track record with our clients, and the results of the good work we’ve done to ensure that both the buyer and seller are happy with the transition. We’ve seen, from time to time, a few common dental practice transition mistakes. If you, or someone you know, will ever buy a practice in the future, read through these four common dental practice transition mistakes and learn how to avoid them.

The Dental Transition Period

There are many issues that have to be agreed upon in order to sell a dental practice. One of them is the transition period, which is the time from settlement to the time the seller leaves the practice. The purpose of this article is to address key points that should be considered in order for the seller and buyer to decide what is best for their situation.

The first issue is how long the seller wants to keep practicing. Some want to retire as soon as their practices are sold, while others prefer to phase out gradually. If a seller chooses the latter, there need to be enough patients in the practice for more than one doctor. A solo practice may have sufficient patient flow for only one dentist. Even if there is a large patient base, the buyer and seller need to address whether both doctors can work at the same time (number of operatories) or whether they need to work separate hours. It is becoming more common for the buyer to want the seller to stay because s/he has another office and needs the seller for coverage or because a group is the buyer and prefers to have the seller for a longer period of time.

If the seller is going to stay, the seller’s days, hours, compensation, and benefits must be addressed. In most cases, the seller is paid the same as an associate (e.g., a percentage of collections). The transition needs to be spelled out in the practice contract. If the seller is going to stay and treat patients, there should be a separate employment contract. If the transition is going to be short (no more than a month) and the seller will not be treating patients other than to finish work in progress, there may be no compensation.

Buyers often think that sellers have to stay six to 12 months in order to introduce patients. However it is usually the staff that introduces a buyer to patients. When patients visit, the staff interacts with them before they meet the new doctor. Staff has the opportunity to tell patients about a new doctor and make introductions. I know how important staff members are from the many situations I have brokered where sellers were deceased. As long as the staff remained and a temporary dentist was hired, those practices remained mostly intact. Patients who left were generally ones who moved away from the area.

A letter to patients is usually sent after a practice is sold. This letter is from the seller, and it lets patients know about the change, has a paragraph about the buyer, and finishes by letting patients know that the staff will be remaining and that their patient records will remain intact. The parties can split the cost of these letters, or the seller can pay for the printing and the buyer the postage. Some suggest that patients not be told the practice has been sold (should use the word transferred in the letter) for fear many patients will leave. Since most patients tend to return to where they’re used to going, it is not a good idea to mislead them. The staff will know, and patients will find out. It is much better to be up front and honest.

If the transition is going to be a buy-in followed by a buy-out, there are additional issues that need to be addressed that are beyond the scope of this article. The buy-in/buy-out can be an excellent transition method in the right situation, but it is complicated. In a specialty practice that relies on referrals from other doctors, the transition may be longer. The key here is not so much for the seller to be doing treatment but to be introducing the buyer to the referral sources. The more flexible the seller is regarding the transition, the easier it will be to find a buyer and put a good deal together.

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