Orthodontic Practice Opportunity – San Francisco, CA

This is an excellent opportunity for an orthodontist to join a high quality practice located in San Francisco, California. This practice opportunity is for the position of a near term orthodontic associate. This is a three-to-four day a week employment opportunity leading to an equity/partnership interest. This practice has state of art technology with multiple locations. The current practicing doctors are seeking the right orthodontic candidate for this associate position that will lead to a long term partnership with the right candidate. The ideal orthodontist is available by April 2012, and eligible for California licensure with no current employment within the city limits of San Francisco, CA. To learn more about this presently existing orthodontic practice opportunity please contact Shannon Patterson, Bentson Clark & Copple’s Director of Practice Opportunities & Executive Recruiting. She can be reached via email at shannon@bentsonclark.com or via phone at 1-800-621-4664.

Click here to view additional practice opportunities available from Bentson Clark & Copple.

Big Shift in Patient Demographics: Does it Matter to You?

In December 2012, the United States Census Bureau released its long-term demographic projections. It revealed a fundamental shift in the US population among various ethnicity groups. The released projections included the following findings:

  • By 2043, the non-Hispanic White population will no longer make up the majority of Americans.
  • Intermarriage for first- and second-generation Hispanics and Asians is on the rise, causing a blur in racial and ethnic lines and increasing the number of individuals who identify themselves as multiracial.
  • Children of immigrants are the fastest-growing demographic group.
  • Moving forward, the United States will become the first major post-industrial society in the world where minorities will be the majority.
  • Among children, the point when minorities become the majority is expected to arrive much sooner, in 2019.

What are the implications for orthodontic practice owners? It likely depends on how much longer you plan to practice. If you are at the beginning of your orthodontic practice career or envision working for 30 more years, the implications of the minority friendliness of your practice, your market strategic and target marketing will be significant.

In 2012, for the first time, racial and ethnic minorities became a majority of babies under age one for the first time in United States history. Ten years from now, this group will be the majority of children in braces.

Perhaps it’s time to step back and ask, “How minority friendly is my practice?” That is a good starting point to begin thinking about and planning for the changing patient demographic that could be your practice’s reality in ten years.

Bentson Clark & Copple’s Resident Survey

We spend a lot of time and effort working with today’s orthodontic residents. We visit their residency programs, attend events solely catered towards the resident community and participate in resident-only webinars and presentation opportunities. We spend numerous hours speaking with them as they search for an orthodontic practice to purchase and/or employment opportunities. We are focused on actively working with and providing as much information as possible to them to help them make educated decisions about their future. This group of young professionals will ultimately shape the future of the orthodontic industry.

As part of our commitment to providing relevant, accurate and useful data to the orthodontic community, each year Bentson Clark & Copple conducts a nationwide survey of all current orthodontic residents for the purpose of collecting, compiling and analyzing information regarding today’s orthodontic resident population.

As in our previous surveys, we ask a variety of questions regarding residents’ anticipated plans after completing their residency program. The survey also inquires about income expectations, geographic locations, total educational debt, and preference of whether they would seek an employment relationship or equity opportunity upon graduation.

We have published a brief sampling of the 2012 Annual Orthodontic Resident Survey’s results in the 4th Quarter edition of the Bentson Clark reSource. We have, in addition, compiled the full results of this year’s survey in booklet form featuring our commentary and a comparison of this year’s data to that of the previous two years. This publication will be available for purchased within the next few weeks. Please check our website and blog for additional information and purchase information.

Who Should Perform Your Practice Appraisal?

At some point in the life of your orthodontic career, there will most likely come a time to have your practice valued. This process usually occurs only once for most practitioners, but more in some cases. The reasons for having an orthodontic practice valued vary, but by far the most likely reason is the contemplation of a change in ownership. If you plan to retire and sell your practice, a practice valuation is highly suggested as one of the first steps in the process. When the time arises, do you know who should perform your orthodontic practice appraisal?

The AAO provides its members with a list of companies or individuals that offer valuation/evaluation services to the orthodontic community. If the purpose of the valuation is for an ownership change, it is strongly suggested you select a firm that specializes in orthodontic valuation and transition services rather than using your local CPA or accounting firm. Bentson Clark & Copple, LLC, provides valuation services and appears on the AAO’s listing, as do several other well-respected companies.

Most Certified Public Accountants who have been involved in the sale of various businesses can likewise prepare some type of valuation report for your practice. For reliability purposes, the report should follow accepted valuation methodology. It should be completed and signed by someone who holds nationally recognized valuation credentials (such as CVA, AVA, ASA, etc.).

We Are Thankful

We are reminded during the Thanksgiving season to be thankful and cherish the family and friends that are such a significant part of our lives. While we at Bentson Clark & Copple enjoy the Thanksgiving food and traditions that go with the holidays, we are very thankful for our families, clients, and co-workers.We would like to take a few moments to reflect back on these three groups.

1. We are thankful for our families. As in most endeavors, we spend a great deal of time at work and away from our families. Whether we are in the office, away with clients or attending meetings, our families at home are always on our minds. Each of us is so thankful for those that we live with and care for. Their love and support allows us to focus on our work. We are grateful for their health and safety throughout this year.

2. We are thankful for the opportunity to work with such great doctors. We are blessed to become part of the lives of doctors during the pivotal points within their orthodontic careers. We are able to work with orthodontic residents as they begin their practice journey and once again when doctors are ready to transition into a new chapter of their practice life. Those plans can be retirement, reducing the number of work days or bringing in a partner/associate to help manage the practice’s workload. These doctors become more like family members than clients during the months (or even years) that we work with them. We enjoy the opportunity to help them reach their goals, make their career dreams a reality, and educate them with the valuation or transition information needed to make educated decisions regarding these big choices.

3. We are thankful for the Bentson Clark & Copple team. We would not be able to function without each team member. Each individual brings different expertise, talents, and gifts to the business. This allows us to operate as a team, to grow and to focus solely on our clients and their individual needs. Each team member is dedicated to providing the best service for each and every client. We work hard, but we do our best to make our work fun.

Have a great Thanksgiving!

What is An Orthodontic Practice Valuation?

Bentson Clark & Copple specializes in orthodontic valuations and transitions, but what does this really mean and involve? We are in the business of helping orthodontists during the pivotal points within their careers. We perform practice valuations, provide partner location services, offer practice sales and marketing services and help negotiate practice transactions.

Let’s focus on practice valuation. You are more than likely aware of the concept of business valuation, but may question how orthodontic practice valuations work. When an orthodontist is ready to find out what their practice is worth, they come to us. We then provide them with an information request document. This multiple page form requests the doctor’s personal information, and general information about the practice, including, the staff, hours of operation, leasing arrangements, number of locations and referral sources, among other items. After this information is collected, we then accumulate statistical and operational information. We inquire about the practice’s fees, the number of start cases and case completions, contracts receivable balance, number of active and recall patients and information on all active patients with paid in full balances.

Besides the on-site practice visit, perhaps the most important part of the valuation is collecting the practices’ financial information. We ask doctors to provide the past three years’ profit and loss statements and the most current interim profit and loss statement. We also obtain the most recent tax year-end and month-end balance sheets and a fixed assets listing. Lastly, doctors need to submit tax returns for the past three years including any other supporting statements. (Generally, we find that practices that employ practice consultants have a good grasp on key operational metrics and systems compared to practices that do not use practice consultants.)

We take all this information and determine a fair market value of a practice through a valuation report. The report briefly explains the various general valuation approaches and the valuation approach used by Bentson Clark & Copple. Through a variety of charts, graphs and statements, we explain how the value is calculated. The report includes a practitioner biography, the practice history, state and local demographics and an industry profile.

For more information regarding orthodontic practice valuations, please contact our office.