Orthodontic Practice Opportunity – Bentson Copple Blog

Full-Time Orthodontic Associate Opportunity: Roanoke Rapids, North Carolina

A growing orthodontic practice is seeking a full-time associate to join their team in Halifax County, North Carolina.

Halifax County is located in northeastern North Carolina and is often called the state’s “cradle of history”, as it is the birthplace of the “Halifax Resolves”, a document that gave rise to the creation of the Declaration of Independence. The area offers a historical step back into time with its roots deep in American history and culture.

Halifax County offers beautiful lakes, theaters, antique shops, museums, golf courses, and much more. It has all the natural qualities and amenities that make it a great place to live and work. From Lake Gaston to Medoc Mountain State Park, its natural landscape provides a wealth of recreational activities. It is home to Sylvan Heights Bird Park, the world’s largest collection of rare and endangered waterfowl and over 2,500 birds from around the world. The county is also home to some of the nation’s best-preserved early 18th-century engineering at the Roanoke Canal Museum and Trail – it’s the state’s longest museum with a 35-foot single-arch aqueduct and over seven miles of trails to explore.

The county is a great place for business and business competitiveness. It offers easy access to all forms of transportation – interstate highways, airports, railways, and NC and VA shipping ports, making it a mobile community for locals, visitors, and businesses. Being halfway between New York and Florida, manufacturers and distributors can ship their products to over half of the US population in a one-day drive. The region is also less than 90 minutes from three international airports.

This is a fantastic opportunity for an orthodontist in a welcoming community, filled with southern charm, rich history, and mouthwatering dining options. If you are interested in learning more about this practice opportunity, please forward your CV and letter of interest to [email protected] and [email protected].

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

Full-Time Orthodontic Associate Opportunity: Tulsa, Oklahoma

An orthodontic practice with two locations located in Tulsa, Oklahoma is seeking a motivated full-time orthodontic associate

An orthodontic practice with 2 locations located in Tulsa, Oklahoma is seeking a motivated full-time orthodontic associate to join their practice. This opportunity is offering a $25,000 sign-on bonus.

Tulsa is the second-largest city in Oklahoma and was considered “Oil Capital of the World.” Tulsa has its roots as an energy city, but is now home to a diverse workforce, a vibrant and historic downtown, and an abundance of entertainment and cultural activities. It is home to big city amenities like thriving arts programs, a diverse and growing business community, and a beautiful downtown – but Tulsa’s affordability makes it stand out from other metro cities. In 2017, Tulsa was named one of the Top 10 Most Affordable Cities according to Realtor.com. In addition, the city ranked number 10 on their list of the top housing markets of 2018.

Tulsa is a hidden gem within the Midwest filled with great people, great opportunities, and a great amount of history. There are magnificent mansions built by the oil economy and world-class examples of Art Deco architecture. It also has a flourishing nightlife in the Arts District complete with local breweries and a thriving music scene. You can also take in many fine art collections at the Phillbrook Museum of Art and the Gilcrease Museum. For outdoor enthusiasts, some of the best lakes and nature preserves in the country are located only two hours away from the city.

Consider calling Tulsa home – it’s a great place to raise a family thanks to its low cost of living, wonderful school systems, and plenty of family-friendly activities. If you are interested in learning more about this practice opportunity, please forward your CV and letter of interest to [email protected] and [email protected].

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

Equity-Minded Orthodontic Associate Opportunity: Finger Lakes, New York

Equity-Minded Associateship in Finger Lakes New York Region

A private well-established orthodontic practice located in the beautiful Finger Lakes Region of New York is seeking a full-time associate to join their team. This is an associateship opportunity that offers a path for equity for the right candidate.

The Finger Lakes Region is centrally located in New York and only a short distance to New York City, Niagara Falls, and Toronto. There are eleven freshwater lakes shaped like the spread of fingers on two hands – giving the area its name. Residents enjoy the area’s fresh air, majestic waterfalls, and scenic gorges.

With that many lakes and with the natural beauty surrounding them, it’s no surprise the area is a favorite vacation and recreation spot, offering endless outdoor adventure. The region offers lakes, forests, hiking, biking, fishing, boating, and more than 100 award-winning vineyards. Many enjoy exploring unique museums, art galleries, incredible restaurants, and many family-friendly activities.

The region is a global leader in optics, photonics, and imaging. Its innovation is fueled by the region’s top education institutions, like the largest Ivy League school, Cornell University, and other universities like Syracuse University. Besides technology, Finger Lakes has an abundance of agricultural resources for apple, dairy, and grape producers which allows major food companies to call this region home.

Consider living in Finger Lakes and enjoying the unique qualities the region offers, while maintaining the laid-back lake lifestyle. If you are interested in learning more about this practice opportunity available, please forward your CV and letter of interest to [email protected] and [email protected].

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

Orthodontic Practice for Sale: Southwest Virginia

Purchase an established orthodontic practice in the southwestern region of Virginia. The area offers small-town charm combined with the modern conveniences of a metropolitan area.

The western half of Virginia showcases its natural outdoor beauty through the Appalachian Mountains, one of the oldest ranges in the world and with infinite opportunities for outdoor adventures. You could fill weeks with hiking, fishing, biking, golfing, horseback riding, and a multitude of other adventures. The area could be the best-kept secret of the East coast.

Outdoor enthusiasts will find so much to do in western Virginia it’s hard to decide where to focus. You could hike 544 miles of the Appalachian Trail – more than any other state, bike the 34-mile Virginia Creeper Trail, or explore the Blue Ridge Parkway and Skyline Drive. Western Virginia is home to 15 state parks, two major rivers, two national forests, a national historic park, and some of the best sightseeing in Virginia. The region has many wineries, breweries, bars, and local art shops to visit.

Southwest Virginia is known as the “birthplace of country music”, and that heritage is honored on The Crooked Road Music Trail. The 333-mile driving route focuses on Appalachian music at nine major venues, 150 affiliated venues, and 27 wayside exhibits.

The I-81 corridor is home to several institutions of higher education, with Virginia Tech and James Madison University being the largest.

This is a wonderful community to raise a family and make a difference by creating beautiful smiles. If you are interested in learning more about this orthodontic career opportunity, please forward your CV and letter of interest to [email protected] and [email protected].

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

What Are the Steps to Land the Perfect Orthodontic Career Opportunity?

Step to Find the Perfect Orthodontic Career Opportunity or Orthodontic Job By: Shannon Patterson, CPR, CMSR
Kolbe Certified™ Consultant
Director of Practice Opportunities

I am very fortunate to have the opportunity to speak with hundreds of orthodontic residents every year who are looking for the right opportunity after their graduation. One of my first questions is, “Why did you want to become an Orthodontist?” I hear various answers every day as a recruiter but many times I hear this one, “Because I had an amazing experience with my Orthodontist.” So, you’re telling me that your experience with your childhood orthodontist was so awesome that it inspired you to travel this long, difficult academic path? Wow, it gets me right in the heart every time. And it’s that connection that as future practitioners you all want and desire to have with future patients whether it is in a private practice, group practice, or corporate model.

My next question is usually, “Where do you want to land and where do you see yourself in five years?” I don’t usually hear as much excitement, and often I hear confusion and concern. The answer to this question often sounds something like this: “I don’t really know I just know I want a good job to start paying off my debt.” I don’t blame you for not knowing the answer. After all, how can you know if you’ll be happy in your future job five years from now?

Well, lucky for you, I absolutely love what I do, and when you love what you do you have a passion for helping others. Most of you have identified your passion, now you are looking for a place to combine your passion and a career. Every day, I counsel candidates on what factors they should consider when seeking an opportunity. Through trial and error and knowledge gained from many candidates through the years, I have found these steps to be helpful as you narrow down your job search.

1) Know Who You Are!
We all want to get paid for doing what we love, but be sure to understand who you are and the must-haves before deciding on a job opportunity. What are your beliefs and values? Does this opportunity and community align with them and will you be able to fit into the practice and community cultures? Identify your practice values, your personal values, your interests, your “must-haves” in a community, your passions, and last- your financial needs. Yes, I said consider money last because, believe it or not, most people do not leave their current job due to money but often due to “it’s just not a good fit for me.”

2) Identify the Right Practice.
As residents, you might often hear “beggars can’t be choosers,” and with the debt load most residents carry, who can blame them? However, be sure to do your homework on a potential employer, as this person will be tied to your career forever. Be sure to spend a day with a potential practice or employer and witness the practice culture, sit in on new patient exams, watch how the reception area greets patients and watch the clinical team working with patients. I can assure you that all of these, and I mean every single one, will have a huge impact on your success. If a potential employer has an issue with you spending a day in the office, this could be considered a red flag, especially if you are being paid on a production incentive.

3) Find a Good Mentor.
First, do not ask a stranger or someone who does not know you well! A great mentor should be someone who inspires you and who already knows you. This person has seen your potential and hard work, they know how you think, how you communicate, how you tackle tasks and how you contribute to those around you. It should be someone who trusts you and believes in you, but, most importantly, it should be someone who is not afraid to give you input and feedback! Identify and join social media groups and blogs with other young orthodontists to hear their perspectives and voices as a resource in your career; Ortho 101 is a great one.

4) Practice Perseverance.
What is the definition of perseverance? Perseverance is commitment, hard work, patience, and endurance. There is an old saying, “do what you love and you’ll never work another a day in your life.” Is that really true? Probably not, but if you do what you love, it will never feel like a job. Success takes hard work, commitment, and persistence. All of you are talented and skilled clinicians, and with connections and a little luck you might find a good opportunity, but persistence will ultimately be what makes you successful in your career and is what will set you apart from others. Identify your vision and know that it will take stamina and endurance to get there!

A job search requires commitment and dedication. Making a career plan requires you to outline clear expectations and objectives. It means going back to the basics, discovering your likes/dislikes, values and beliefs and taking them all into account for a job opportunity. Even if you don’t land your dream job and you have a short-term opportunity, stay committed to your long-term career goals.

It will take time and effort but in the end, it will be worth it. And for those of you who are looking for that new key phrase “work-life balance,” I believe it is important to understand that your job will ultimately take up most of your time; it financially supports your dreams and it is a core part of your identity. If you simply live your life, love what you do and do your very best at it, ultimately you will achieve great success!

Orthodontic Associate Opportunity: Hattiesburg, Mississippi

Full Time Orthodontic Job - Hattiesburg, Mississippi A well-established, practice with multiple locations in Hattiesburg, Mississippi is currently seeking a full-time orthodontic associate.

What do Jimmy Buffett and Brett Favre have in common? Their roots in Hattiesburg, Mississippi, the state’s second-largest city. With its well-preserved historic homes and shaded streets, its Historical Neighborhood District was named one of the “Great Places in America,” to live by the American Planning Association.

The area has a lively music scene and an impressive variety of local eateries – approximately 500 restaurants and more than 200 of them are locally-owned. Hattiesburg has a growing craft beer industry so you can enjoy your brew outdoors or sip in a mellow atmosphere. Shop in its revitalized downtown at one of its vintage boutiques or the Farmer’s Market. Discover the art scene, visit the African American Military History Museum, enjoy a beautiful town park, or spend the day at Hattiesburg Zoo. For outdoor adventurists, bike 42 miles down the Longleaf Trace or canoe at one of three public waterways. Within two hours, you can drive to the Mississippi Gulf Coast or to nearby New Orleans for a long weekend or day trip.

This premier city in the Gulf South host many highly-anticipated annual events and street festivals throughout the year. Live at 5 Outdoor Concerts, Downtown BBQ Showdown, Homebrew Competition, and FestivalSouth are just a few of the most popular events for the residents of the city.

This is a superb opportunity for an orthodontic associate to work and play in an authentic southern city full of contemporary charm and culture steeped in history. The Hub City’s unique mix of retail, dining, and services makes it the perfect place to enjoy a work-life balance while creating beautiful smiles.

To learn more about this opportunity, please forward your CV and letter of interest to [email protected].

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

What Metrics Should You Focus on During Your Initial Review of a Practice Opportunity?

What metrics should you focus on during your initial review of a practice opportunity? By: Anthony Copple, JD
Transition Specialist

Reviewing an opportunity to purchase a practice outright or to buy into a practice as a partner can be an overwhelming task. You may have been presented with a mountain of data about the subject practice: tax returns, profit and loss statements, and operational reports. What does it all mean? What should you focus on? What data is important in determining a fair value for the practice?

Well…the long answer is that all of the data and information surrounding a practice is important in determining its value. After all, an orthodontic practice is a unique asset and no two are exactly alike. However, there are a few things you can focus on that will provide a reasonable snapshot of any practice. Three of the most consequential are explained further below:

Practice Overhead Rate
The overhead rate of a practice is one of the most important factors in determining a practice’s value and the benefits that practice will provide to a buyer. After all, the overhead rate ultimately determines the amount of cash the owner can reap from the business. Generally, the lower the overhead rate, the more valuable the practice. So, a practice at 55% overhead will be more valuable than a practice at 65% overhead, all else being equal. The average practice overhead rate for an orthodontic practice is 58% of collections. If operating expenses are below this level, it can drive the price of a practice up while expenses above this threshold will generally have the opposite effect.

Practice Production
Production acts as a bellwether for practice collections; it tells us where we’re headed. If the practice produces $1,500,000 this year, we can expect that the practice will collect something close to $1,500,000 next year. Knowing this, we can use practice production, practice collections and their relationship to one another to identify trends within the practice. If practice collections have grown over the past two years and production in each particular year exceeds our collections in the same year, we can be fairly confident that the practice will see continued collections growth in the following year. This can be vital to practice value because a growing practice has more potential, and less risk, than a declining practice.

Practice Contracts Receivable
The contracts receivable balance is the total amount remaining to be billed to the active patients of a practice. This can be distinguished from accounts receivable because accounts receivable have already been billed to the patient and are currently due. The contracts receivable balance gives us an indication of the stability of the expected future cash flow of the practice and an idea of the number of active patients that are paid-in-full. We know that we can expect cash flow from the contracts receivable balance as we treat current patients of the practice regardless of the number of new starts we have. On average, a practice’s contracts receivable balance is approximately 50% of prior year production. Below that level, and the practice likely has more paid-in-full patients than the average orthodontic practice. This would add risk for a buyer expected to continue to treat those paid-in-full patients after the closing without collecting patient fees. This additional risk tends to drive the practice price down. Of course, if the contracts receivable balance is above this threshold, it can add value to the practice.

As I said above, there are dozens of factors that go into determining the value of a practice. No one point of data will tell you everything you need to know about a practice. However, analysis of the three metrics above should give you a pretty solid idea of the type of practice you are looking at and whether it is worth pursuing further.

What Should Be Accomplished During an On-Site Visit Interview?

What should you accomplish on a site visit interview? By: Shannon Patterson, CPR, CMSR
Partner, Kolbe Certified™ Consultant

When a potential employer and/or partner is interested in you, chances are you will be invited to visit the practice. Whether it is your first opportunity post-residency or you’re moving on from a previous opportunity you need to make the most out of the site visit. You should know a few basics and questions to ask about the practice and community to ensure you find the right opportunity in the right place.

When, What, and Who?
As you share with co-residents you will quickly realize that no two site visits are the same. It will be up to you to do some homework before the visit to ensure you get the most out of it. Understanding the three basic W’s – the when, what, and who will help you prepare for the visit.

When Does a Visit Take Place?
Typically you are invited to visit a practice after initial conversations with a potential employer and confirming you both are interested in moving forward. At this point, you should understand the position and have a genuine interest in the practice and the community in which it is located. I have had candidates visit practices as early as their first year of residency if the practice meets their goal parameters and is located in their geographical area of interest. Most potential employers, especially those offering a path to equity, are looking for a person who can adapt to their practice culture and they are definitely willing to wait on the right candidate.

What Does the Visit Include?
A site visit is designed to showcase a practice and the community and what it has to offer a candidate in a very short amount of time. We highly recommend an overnight stay to maximize the visit. Most of the time the visit is tailored to each candidate but has a standard format which usually includes additional interviewing with the doctor, meeting with the team, clinical shadowing, touring the community, dinner with spouses and possibly a social event in the community. We also recommend meeting with a local realtor if you feel strongly that you will accept the position.

Who Should Join You?
Although it is you the practice is interviewing if you are married your spouse will likely have a very important role during the visit. Orthodontic practices typically are very involved in the communities they serve and want to ensure that you and your family will feel comfortable and welcomed. Spouses are often the number one reason candidates reject a job offer especially if the spouse did not attend the site visit. One of the most important parts of the site visit is to envision yourself and your family living in the community where the practice is located. The second part of the “who” question I often hear is “who” pays for the site visit? A potential employer should pay for you to visit the practice. That usually includes airfare, hotel, and a rental car. It is customary that the potential employer reimburse you for travel expenses after the site visit is complete but some employers offer to make travel arrangements for you; either is fine just be sure to get a plan in writing so you understand what will be covered.

Remember your goal on a site visit is to gather as much information as possible about the clinical position, the practice culture, and its alignment with your own values, and the surrounding area and whether it will meet your social needs. At the end of a site visit, you should confirm that the opportunity has the right culture, the right team, and is located in the right place for you to start a successful orthodontic career.

As an Orthodontic Resident, When Should I Begin Searching for a Practice Opportunity?

As an orthodontic resident, when should I begin searching for a practice opportunity? By: Mandy King
Client Support Associate

As a liaison for residents seeking orthodontic opportunities, my job is to provide you with support during the recruitment process with our placement services. In doing so, I am able to share insight about crafting an “About Me” letter, preparing a curriculum vitae, and answer any questions you might have, including ‘when should I start looking for an opportunity?’

You should begin to determine in which state and city or town you wish to practice after the first six months of your residency. If you wait until your last year to start the process of identifying the area in which you wish to live, you are taking a gamble on finding an opportunity. Some of you are pretty open to different areas, which is great because this will give you more opportunities. A good rule of thumb is, beginning when you are one year out from graduation, you should dedicate two hours per week to your job search depending on your geographical preferences.

If you are considering buying-in or purchasing a practice, you need to start preparing early. Be on the lookout a year or two in advance for practices for sale in the areas where you hope to purchase. Speak with a lender to determine financial goals you may need to meet in order to be extended a loan.

Do not hesitate to inquire about opportunities that interest you or to ask questions you may have about current market trends. You never know when the “right” one will present itself.

Each month our team sends out the Bentson Copple InSight e-newsletter which includes a list of available practice opportunities. If you are not receiving the InSight and would like to stay up-to-date with current orthodontic career opportunities, please click here and sign up.