Practice Management Tips

Could You Sell Your Practice Tomorrow?

By January 16, 2020 March 11th, 2020 No Comments
Sterling Practice Management Dentist gives dental practice management advice

Dr. Roger needed some dental practice management advice when he kept trying unsuccessfully to sell his practice. Sterling practice management provided that advice and so much more to help the dentist get his practice to a point where he could successfully sell it.

Dental Practice Had Shortcomings

Dr. Roger opened his dental practice in 1981. After 25 years, though, the practice started to go stale just as he was thinking about retirement. His business was still prospering but flat revenue kept it from selling. For five years, Dr. Roger looked for prospective buyers so he could enjoy retirement.

At the same time, the practice was suffering from personnel issues. The staff didn’t work as a team. Employees often didn’t know the details of the job descriptions, causing important tasks to slip through the cracks. Dr. Roger, a highly skilled dentist, also didn’t know how to handle interoffice drama. Instead of stepping in and handling human resource problems, he chose to focus solely on dentistry.

A Complete System to Move His Practice to the Next Level

Dental practice management advice helped these staff to get their practice to where it could be sold.After recognizing his dental practice’s shortcomings, Dr. Roger set out to find a solution. He pieced together different ideas and philosophies he’d picked up from management workshops. While each idea could address individual issues with staff or revenue, they all lacked the coherence of being part of a complete system. That’s when Dr. Roger called Sterling.

Dr. Roger’s Sterling consultants flew out to his dental practice to see the business operate firsthand. They tested individual employees to make sure each team member had the duties best suited for their strengths. With Sterling’s technologies, Dr. Roger received custom-tailored advice to help his business grow.

The staff started working as one unit. They even initiated morning huddles to get on the same page, much to Dr. Roger’s delight. Because the staff was stronger and better trained, the business as a whole ran smoother. It was no surprise to us when the practice’s revenues started to grow again. 18 months after contacting Sterling, Dr. Roger was able to sell his practice for his full asking price and retired after over 30 years as a dentist.

Sterling practice management in Glendale, CA has helped many dental practice owners to build smooth-running profitable practices which they were able to sell for the asking price. So here’s some good practice management advice: Find out how Sterling can help you with your practice. Come to our next workshop or take our free online practice management analysis and consultation.