Practice Valuations & Effective Transitions

Matt Poppert, a partner at DDS Match South, is a dentistry veteran with 15 years of diverse dental industry experience. In today’s episode, host Jon Harris and colleague Matt Poppert discuss practice valuations and effective transitions in the dental space. Jon and Matt also engage in a lively discussion about the mental health concerns in the dental industry and how we can work to improve them in the future. 

Matt dives into the importance of establishing a solid connection between a buyer and a seller. With his customer service focus in the dental space, Matt is extremely knowledgeable on how successful business relationships work. If there are fundamental differences in the philosophies of the buyer and seller, neither party will be satisfied and the sale will likely fall through. Matt explains that creating and maintaining a good connection between the seller and the buyer is the first step to ensure you are making the right investment for your practice. 

Tune into this week’s episode of 21st Century Dentistry for a conversation with Matt Poppert. Learn more about mental health in dental professions, how to understand the value of a practice, and why buyers see consistencies in long-term dentists overpaying their staff. 

 

Quotes

• “It's sad because depression is common in dentistry. And I think one of the predominant reasons why it's so prevalent is: imagine spending $500,000- $600,000 on an education, but not getting the education that you need to effectively and successfully deliver the services that you learned how to deliver.” (0:23:47-0:24:21 | Jon) 

• “I think if there's dynamic personality differences between a buyer and a seller, then, in my opinion, the buyer should walk away.” (0:41:29-0:41:41 | Matt) 

• “What I would suggest is that as a buyer is getting ready to get into the market and start looking at these dental practices, is to build themselves a team with a good dental CPA and a good dental attorney. That will help them build a due diligence checklist that they can knock out on the front end of a deal.” (0:44:42-0:45:05 | Matt) 

• “Everything that goes into the valuation is done based on the historical financials as well as the current state of the practice and how it's managed.” (1:07:00-1:07:13 | Matt) 

• “Dentistry is very personal and there's no telling what's going to happen in the future.” (1:07:15-1:07:20 | Matt) 

• “If you've got a long-term dentist that has long-term staff, you're always going to have overpaid staff. Because the dentist doesn't want to lose them. They become family. Again, it's not like running a factory.” (1:15:36-1:15:48 | Matt) 

 

Links

www.ddsmatch.com

 

Connect with Jon Harris on Facebook:

https://www.fortunemgmt.com

https://www.facebook.com/jon.harris.39545

https://www.facebook.com/fortunemgmtmidsouth

https://www.facebook.com/fortunemgmtgeorgia

 

Follow Jon on Instagram: 

@jonharris_ 

@21stcenturydentistry

 

Podcast production and show notes provided by HiveCast.fm