Category: Editorial

Professional Transition Strategies Expands Services with Launch of Headwaters Practice Transitions

PTS logoProfessional Transition Strategies (PTS), a company that facilitates dental practice purchases and mergers & acquisitions, proudly unveils its latest venture Headwaters Practice Transitions. As a trusted leader in the dental mergers and acquisitions space, this expansion marks an exciting chapter in the company’s journey as it continues to grow and redefine dentistry.

Headwaters Practice Transitions is dedicated to serving smaller dental practices seeking personalized solutions for their transition needs. Headwaters Practice Transitions caters primarily to doctor-owners who aspire to sell their practices to another practitioner.

“As the industry continues to evolve, we recognize the importance of providing tailored solutions to meet the range of clients’ needs,” said Kyle Francis, founder and president of Professional Transition Strategies. “With the launch of Headwaters Practice Transitions, we are ecstatic to extend our expertise and personalized approach to these practices, empowering dental entrepreneurs with the resources they need to navigate transitions seamlessly.”

With a team of seasoned dental M&A experts led by Managing Broker Todd Sheets, Vice President of Sales Kim McCleskey and M&A Consultant Dominick Ricciardi and a deep understanding of the intricacies involved in practice transitions, Headwaters Practice Transitions is poised to deliver unparalleled support and guidance every step of the way. From valuation and practice marketing to negotiation and closing, Headwaters Practice Transitions offers comprehensive services designed to optimize outcomes for both sellers and buyers.

For more information about Headwaters Practice Transitions and its services, please visit headwaterstransition.com.

Halo Dental Technologies Showcase Its Digital Mirror at Montreal-based JDIQ Annual Conference

Halo Digital Mirror

Halo Dental Technologies, the developer behind the much-anticipated Halo Digital Mirror, is bringing the innovation to Journées Dentaires Internationales du Québec (JDIQ), a flagship event organized annually by the Ordre des Dentistes du Québec (ODQ) May 27-28, 2024.

Halo Dental Technologies will showcase its Montreal-based Digital Mirror, introduce the new technology to Halo’s home community, and promote the product’s waitlist to receive the mirror when it’s ready for delivery in early 2025.

The Journées Dentaires Internationales du Québec is the largest bilingual (English/French) dental convention in North America. For more than five decades, the JDIQ has been bringing cutting-edge technologies and best practices to the dental community to shape the future of dentistry. It is also a crossroads of opportunity for sharing excellence in knowledge, continuing education and networking. JDIQ brings together audiences from near and far who are passionate about oral health.

While at JDIQ, Halo will be giving dental professionals in the province the opportunity to experience the device first-hand, see its features, capabilities, design traits, and use cases in action.

JDIQ serves as a dual focus for Halo, not only as it allows the company to introduce one of dentistry’s biggest care device innovations in decades. The Digital Mirror has already exhibited extensively throughout the United States, receiving praise for it filling such an obvious need in modern dentistry, and for its ability to streamline patient care and education chairside.

Additionally, JDIQ is a homecoming of sorts for Halo. While The Digital Mirror was announced earlier this year, the Montreal-based conference takes place in the place where the device was conceived, developed, engineered, and built.

The Halo Digital Mirror ushers in a new era in dental instrumentation, redefining patient communication and enhancing oral healthcare delivery. Crafted for innovative patient engagement, The Digital Mirror seamlessly integrates into the practice at the point of care, helping elevate patient’s comprehension about their care during dental procedures.

Dreamed up by Dr. Claude Chamoun, a Montreal-based dentist who has practiced for 18 years, the Halo Digital Mirror came to life from the basement of his dental office and has been well supported by local dentists including Dr. Yvan Poitras, founder of Institut Canadien d’Implantologie.

“JDIQ is a unique event for us at Halo, because it’s the only such conference in Canada, in our home city, where the Digital Mirror was conceived, brought to life, and supported by a local community of dentists. It serves as a sort of local unveiling for the company after a busy year of introducing the device to dentists internationally,” said Peter Khoury, CEO of Halo Dental Technologies. “We’ve been overwhelmed by positive support wherever we’ve gone, so we’re thrilled to come home and introduce the Halo Digital Mirror to Canadian dentists.”

The new Halo Digital Mirror enhances patient communications and allows for greater efficiency at the point of care. The new device also improves customer care while reducing flow interruptions and potentially lower costs.

Halo designed The Digital Mirror to eliminate disruptions between the provider and patient in the care setting, reducing “noise” during the patient visit. It also allows providers to spend more focused time with the patient – improving the patient experience and enhancing clinical workflows and data capture.

Halo Digital Mirror benefits
Specifically, the Halo Digital Mirror offers:

The Digital Mirror also provides integrated LED diffused light and a wide-angle HD camera for improved fog-free visibility to facilitate detailed examinations. It’s also made of high-strength titanium construction for enduring durability without compromising on weight and feel that is similar to conventional dental mirrors.

With these benefits included, the Halo Digital Mirror is designed to participate in every part of the patient’s clinical journey – from education to examination.

To see, touch, and experience the Halo Digital Mirror at JDIQ, visit the Halo booth #1905.

For more information about The Digital Mirror and to join the waitlist, visit halodental.com.

About Halo Dental Technologies
Halo Dental Technologies is a pioneering developer of innovative solutions for the dental industry. With a mission to revolutionize patient care and streamline dental workflows, Halo Dental Technologies leverages cutting-edge technology and industry expertise to deliver unparalleled products and services.

Elevating Your Practice: The Sub-DSO Strategy Dentists Are Using to Build Wealth

Profile photo of Matt Zolfo
Matt Zolfo

By Matt Zolfo, merger and acquisition consultant, Professional Transition Strategies.

Doctors with an entrepreneurial mindset are always looking for opportunities to grow their practice. Some will go the traditional route, using bank financing to open new locations or acquire practices, perhaps with a goal of building their own dental service organization (DSO). Others will seek a strategic partnership with an established DSO instead.

Your best path forward depends on your goals, but it’s important to understand that the industry’s current status on the consolidation curve gives you a unique opportunity — one that won’t last forever. Here’s a closer look at how the dental industry’s equity arbitrage market is evolving and what it means for you.

Understand Dental Industry Consolidation

Looking at how equity arbitrage transformed medical marketplaces in the past is instructive: Harvard Business Review analyses show that about 60% of providers participate while 40% do not. The participation rate is consistent across fields.

Industry consolidations are a one-time opportunity, so it’s critical to understand the consolidation curve so you can leverage it to drive growth. Any doctor who will be practicing over the next three to five years, regardless of age, has an opportunity right now to participate in an equity arbitrage consolidation market.

About 40% of dentists won’t participate — they’ll open a dental office, serve their communities and eventually sell their practice for 60% to 80% of collections, which is what most dentists did 10 years ago. Others plan to grow solo practices on their own and eventually sell the organization they’ve built to a DSO.

But if you own multiple practices or are planning on growing with new locations, you can participate in equity arbitrage events via a sub-DSO strategy now, leveraging the growth of your practice footprint as an investment vehicle. It’s a smart move because the growth trajectory of a solo practice will never outpace the growth of equity value in a group of practices.

Use a Sub-DSO as a Wealth-Building Tool

A sub-DSO arrangement gives practice owners access to wealth-building opportunities in the equity arbitrage consolidation marketplace without taking on the risks of growing a practice by traditional means. In a sub-DSO, the practice owner transacts their business for a large upfront payment and typically retains a percentage of ownership. The equity isn’t held at the DSO or practice level – it exists in a holding space that allows room for expansion.

This can be a huge advantage for practice owners. There’s a saying in the dental practice startup sector: Operating one practice is easy, two is taxing, and three is make-or-break. That’s because it’s difficult to acquire and centralize the infrastructure and expertise you need to support additional practices, such as acumen in marketing, credentialing, hiring and firing, accounting, etc.

If you choose to partner with a DSO, you won’t have to face those headwinds alone. A strategic partner can remove risk and help shoulder the cost of growth because they already have the administrative infrastructure in place. You can plug into it and grow exponentially as a majority or minority partner and owner/operator of a sub-DSO.

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Halo Dental Technologies Opens Waitlist for Its New Digital Mirror at California Dental Association Annual Conference

Halo Dental Technologies, the developer behind the much-anticipated Digital Mirror, is bringing the Halo Digital Mirror to the California Dental Association (CDA) annual conference and tradeshow May 16-18. Halo Dental will showcase its Digital Mirror and will open the waitlist to receive the mirror when it’s ready for delivery in early 2025.

While at CDA, Halo Dental will host live demos of the Digital Mirror to conference attendees, giving dental professionals the opportunity to see its features, capabilities, and design traits in action. Halo also will announce the opening of the waitlist for those interested in receiving the mirror when it’s available for delivery in early 2025. The cost to join the waitlist is only $200.

The Halo Digital Mirror ushers in a new era in dental instrumentation, redefining patient communication and enhancing oral healthcare delivery. Crafted for innovative patient engagement, the Digital Mirror seamlessly integrates into the practice at the point of care, helping elevate patient’s comprehension about their care during dental procedures.

The new Halo Digital Mirror not only will enhance patient communications while allowing for dental professional efficiency at the point of care, but will improve customer care while reducing flow interruptions and potentially lower costs. While at the conference, attendees are able to experience the Digital Mirror that when used, will help shift their practice toward a more efficient and patient-centric business.

Halo Dental designed the Digital Mirror to eliminate disruptions between the provider and patient in the care setting, reducing “noise” during the patient visit. It also allows providers to spend more focused time with the patient – improving the patient experience and enhancing clinical workflows and data capture.

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Dental Influencers Alliance Attendees Praise Halo Dental Technologies’ Digital Mirror at Annual Get Together

Halo Dental Technologies, the developer behind the much-anticipated Digital Mirror, recently showcased the mirror and its technology to one of dentistry’s most innovative-focused audiences, the Dental Influencers Alliance (DIA 4.0) conference in Dallas, Tex., in April. Reaction to the Digital Mirror was overwhelmingly positive, as countless dental influencers who interacted with the technology said it was beyond compare, “so smart,” and what the industry “has been waiting for.”

Show participants also said of the Digital Mirror:

  • “A unique package: all-in-one light, camera, voice activation, heated mirror, autoclavable, reusable.”
  • “I am a general dentist with a passion for innovation and this is something I’m very excited about… to use as a communication tool for the patient.”
  • “Very clean, minimal, the design language is impressive; I’m excited to see how it performs in the field.”
  • “This is a great idea, so practical.”

At DIA, dental influencer Dr. Chris Ramsey said the Halo digital Mirror is “outrageous” new dental technology, “The technology that’s put into just this simple mirror will blow your mind. My name is going to be number one on the waitlist because this needs to be in my practice, and it needs to be in yours.”

The Halo Digital Mirror heralds a new era in dental instrumentation, redefining patient communication and enhancing oral healthcare delivery. Crafted for innovative patient engagement, this new dental device seamlessly integrates advanced features to elevate patient comprehension about their care during dental procedures.

The Digital Mirror is designed to eliminate disruptions between the provider and patient in the care setting, and to accomplish two primary goals: reduce “noise” during the patient visit and allow providers to spend more focused time with the patient – improving the patient experience and enhancing clinical workflows and data capture.

“We’re thrilled to introduce the Halo Digital Mirror to the world,” said Peter Khoury, co-founder and CEO of Halo Dental Technologies. “It’s not just a mirror, but, we think, a game-changer, designed to optimize patient care and revolutionize the dental experience. Based on what we heard and the reactions witnessed at DIA, we’re confident that we’ve hit a nerve with this technology.”

While at the conference, members of the Halo Dental leadership team unveiled the Digital Mirror to the audience of dental influencers and spoke of the company’s origin story, and how they came to work in the sector and innovate a vital piece of technology that has gone almost untouched for generations.

During the presentation, they featured a video paying homage to previous innovations and dental technology, while calling for a new, bright future led by the Halo Digital Mirror that helps reduce flow interruption during an appointment and empower patients with visual aids.

Halo Digital Mirror features
Specifically, the Halo Digital Mirror offers:

  • Patient Empowerment: Empowering patients with visual aids for enhanced understanding and engagement of their care through images.
  • Image Capture: Streamlining patient education and treatment planning with effortless intraoral image capture.
  • High-Strength Titanium Construction: Enduring durability without compromising on weight and feel that is similar to conventional dental mirrors.
  • Integrated LED Diffused Light and Wide-Angle Camera: Improved fog-free visibility and facilitating detailed examinations.

With these features included, the Halo Digital Mirror is designed to participate in every part of the patient’s clinical journey – from education to examination.

Development backed by dental professionals
Backed by a seasoned board of dental practice professionals, Halo Dental Technologies is committed to pioneering innovation within the dental industry.

“Our vision was born from a desire to enhance patient experiences and streamline workflows in dental clinics,” David Khoury said.

Watch testimonials from dental influencers
Testimonials and sneak peeks from DIA influencer attendees are available through Halo Dental’s Instagram page:

https://www.instagram.com/reel/C6W3pRhvc7u/?igsh=N2w0MW91dG42b3A
https://www.instagram.com/reel/C6RUAMeOmcs/?igsh=eDgwM3M4NjJtYXUy

Reserve your Halo Digital Mirror: Join the waitlist
The waitlist for the Halo Digital Mirror opens May 16. For information about the Digital Mirror and to join the waitlist, visit Halo Dental Technologies’ website, halodental.com.

The Digital Mirror is scheduled for delivery in early 2025.

Professional Transition Strategies Earns Inc. 5000 Honors for the Fourth Straight Year

Professional Transition Strategies (PTS), a company that facilitates dental practice purchases and mergers & acquisitions, today announced it was included in Inc. Magazine’s annual Inc. 5000 list for the fourth consecutive year. ​​PTS ranks #1487 with a three-year revenue growth of 317%.

“Receiving recognition from a distinguished program like the Inc. 5000 for the fourth year in a row validates the effort and expertise our team brings to the table for dental entrepreneurs as they navigate the industry’s consolidation wave. I’m so proud to have this team represent and grow our company,” said Kyle Francis, president and founder of PTS.

The 2023 honorees represent companies that have driven rapid revenue growth despite facing hurdles like inflationary pressure and the rising costs of capital.

“Running a business has only gotten harder since the end of the pandemic,” says Inc. editor-in-chief Scott Omelianuk. “To make the Inc. 5000—with the fast growth that requires—is truly an accomplishment. Inc. is thrilled to honor the companies that are building our future.”

How Practice Co-Owners Can Reconcile Mismatched Retirement Time Horizons

Brent Anderson

By Brent Anderson, professional transition strategies, Practice Transition Consultant.

Here’s a dilemma that’s not uncommon in dental practices with two or more owners: What happens when one of the owners is ready to retire and the other wants to keep working? In the past, choices were limited, and the owners either had to sell the practice or bring in an associate (or multiple associates) to buy in so the doctor who wanted to retire could take the value of their share and leave.

The flaw in the associateship model is that associate arrangements fail far more often than they succeed – up to 80% dissolve because the owner’s expectations and priorities are out of sync with the associate’s, their business styles are incompatible, they can’t agree on a practice transition timeline or they’re a mismatch philosophically on other vital business issues.

Luckily, dentists who are practicing now have more options than selling outright or bringing in associates. Here’s a closer look at some of the options practice owners have today, including partnerships through dental service organizations (DSOs), followed by advice for practice owners who are trying to reconcile mismatched retirement time horizons.

Today’s Practice Transition Options

Practice owners have many more choices when it comes to practice transitions today than they did in years past, particularly since the number of groups and DSOs is growing rapidly. That translates into opportunities for doctors to gain more value when selling their part of a practice and/or a chance to roll equity into the practice or DSO to generate investment income after they retire.

For doctors who plan to keep working after a co-owner retires, options for practice transition include arrangements where they can benefit from an equity roll into the practice or DSO too while also gaining support from the purchasing group. Support can include assistance with managing the business, help with clinician or manager recruiting, etc., to keep the practice going strong. Transition options include:

The right fit for practice owners will depend on their personal preferences and plans, business goals and risk tolerance. But given the high failure rate of associateships, it’s great to have more options.

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Aspen Dental Expands Its Involvement In Top University Dental Externship Programs

The University of Washington is the most recent university to tap doctors in the Aspen Dental network to serve as adjunct faculty and mentoring clinicians in its clinical externship rotation for the fall 2023 semester. These clinicians join 12 other Aspen Dental practice owners that serve as preceptors and adjunct faculty in clinical externship programs at other top universities including the University of California, Los Angeles, and the University of Michigan.

 

Aspen Dental first joined the University of California, Los Angeles’s, externship program in 2018, when they piloted their program. A select group of dental students had the opportunity to complete a two-week community rotation.

Today, students in their fourth year complete at least six weeks of rotations at six different practice models, with Aspen Dental representing the dental support organization model. Connections within the program introduced Aspen Dental to the University of Michigan’s program, where students are completing similar rotations, and later this fall, University of Washington students will have the same opportunity.

“The vision of the ongoing collaboration with university externship programs is to inspire students to develop the skills clinically and socially for continued professional growth, which we are champions of day in and day out,” said Dr. Arwinder Judge, Chief Clinical Officer at Aspen Dental. “Dental students on the precipice of their professional careers are gaining real-world experience to determine what path is best for them, while potentially matching with an immediate post-graduate opportunity within an organization that will support them through their journey as a new doctor.”

Externship programs enable dental students at these universities to gain hands-on experiences in various dental practice models while completing their clinical rotations at Aspen Dental office locations. Students develop valuable skills necessary for professional growth and to learn patient engagement, practice management and team-based care delivery, while also increasing access to dental care for vulnerable populations through sustainable community service.

“The externship program allows dental students to learn more about different dental models firsthand before entering the workforce,” said Rachel Greene, Clinical Assistant Professor, Restorative Dentistry at the University of Washington. “This experience empowers them to choose a career that is best suited for them while also giving back to the community.”

“There is no substitute for hands-on experience,” said Bill Piskorowski, Associate Dean of Community-based clinical education UCLA. “This program prepares our students to deliver person-centered care in an integrated health care delivery system. We have started to see a shift in the industry with historically non-traditional practice opportunities becoming traditional.”

To date, 52 dental students have participated in rotations in an Aspen Dental practice. The class of 2024 is expected to include 60 students on rotation at Aspen Dental branded offices from all three participating universities.

“Aspen Dental is committed to continuing education for students and working professionals alike to ensure the best quality care for patients,” said Dr. Tawfiq Alkilani, Aspen Dental practice owner and preceptor. “It’s been very rewarding to be able to work with young dentists to build their skills through this program while also allowing them to get an understanding of and work with people in different dentistry models.”

Getting Closer! Preparing For The Transition From Dental Student to Associate

Dr. Suzanne Ebert

By Dr. Suzanne Ebert, vice president, Dental Professional Career Services, American Dental Association.

Congratulations! Take a moment to acknowledge your accomplishments and give yourself a well-deserved pat on the back. The past four years have undoubtedly been challenging.

You’ve likely successfully cleared your national boards and fulfilled most of your requirements. Perhaps you’ve even already passed your licensure exams. Now, as you approach the completion of this phase, it’s crucial to ensure you’re fully prepared for the next step in your career. For most recent graduates, that entails securing a clinical position, often as an associate.

So, what can you do to make the transition from student to professional as smooth as possible?

Step 1: Continue to improve your hand skills and speed

Many recent grads worry, “How am I going to increase my speed and justify my salary? Especially since I had to hand off all my patients to other students who need the requirements.”

It’s common for graduates to lack the clinical experience to act quickly. After all, you’re used to the much slower pace of your school’s clinic. Never fear, though: you will build speed — and confidence — with increased situational exposure.

The very best way to do this is to practice, practice, practice! Use this time between exams and your first associateship to continue to work on your clinical speed and confidence. Doing so will help set you apart from other new grads in the job market. (It will also give you a great answer when a potential employer asks, “What have you been doing to improve your skills?”)

Even if you have already transferred all or most of your clinical patients to an underclassman, there are things you can do to work on your clinical speed and competence.

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Aspen Dental Management Salaries - ZippiaHeartland Dental announce the recipients of the 2023 Heartland Dental Hygiene Scholarship, a prestigious for recipients awards package totaling $18,000. The scholarship was established with the aim of assisting future dental hygienists in Florida in their journey to provide exceptional care and positive patient experiences.

As one of the nation’s largest dental support organizations, Heartland Dental recognizes the vital role that hygienists play in delivering outstanding patient care. With the projected 9% increase of dental hygienist job openings from 2021 to 2031, Heartland Dental is fully aware of the growing demand for these healthcare professionals. This understanding led to the launch of the scholarship program in Florida in 2022.

Cathy Telles, campus recruiting manager for Heartland Dental, expressed the organization’s unwavering commitment to investing in the future of dental hygienists:

“At Heartland Dental, we’re committed to investing in the future of dental hygienists. These incredible professionals are deeply rooted in our communities, and those who choose this career have the chance to change people’s lives forever. In recognition of our appreciation for these important individuals, we are thrilled to award the 2023 Heartland Dental Hygiene Scholarships as a way to support hygienists and provide them the chance to continue their education, develop leadership skills, and become mentors within their community.”

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