Looking for guidance on dental practice transition options? BIG IDEA conference set for Aug. 9
If dentists are looking for guidance on various dental practice transition options and strategies and taking the next step, the 2019 ADA BIG Idea Conference is designed for them.
The one-day conference, dubbed Transitions and hosted by the ADA Practice Institute, will be held at ADA Headquarters in Chicago on Aug. 9 and will assist dentists in learning about their transition options to best meet their needs professionally, financially and personally.
Key topics for the conference include helping dentists identify the right time to start thinking about expansion, moving on or adding an associate, as well as identifying and analyzing the factors that drive the value of a dental practice.
No matter where dentists are in their careers, this conference can help them assess all of the elements they should consider before a major practice transition, said Dr. Nima Aflatooni, chair of the ADA Council on Dental Practice’s practice management subcommittee.
Dr. Roger Levin, thought leader, chairman and CEO of the Levin Group and third-generation dentist, will present 15 Ways to Increase Practice Value ASAP. He plans on teaching dentists how to increase the value of their dental practices through essential data that can be measured and reviewed, so that performance, operations and profitability can be improved, he said.
The topic of transitions is a “fantastic” conference for every dentist, Dr. Levin said in a phone interview. Each and every dentist will be faced with challenging decisions throughout their career, and the only thing that will remain the same is that change is inevitable, he said.
“My number-one recommendation is to prepare in advance,” Dr. Levin said.
Other speakers include:
• Kirk Dewart, senior program manager of North American Industry Sectors for BMO Harris Bank, on Plan Your Exit Strategy, in which he will teach dentists the right time to formulate a plan; what dentists should look for in an associate or buyer; how dentists can help the buyers prepare; and the establishment of realistic expectations in preserving the dentist’s legacy after he or she is gone.
• William P. Prescott, author and attorney, on You’ll Need a Lawyer, in which he will teach attendees the structure, ownership, practice valuation, agreements and legal compliance of dental transitions.
• Allen Schiff, certified public accountant and founding member of the Academy of Dental CPAs, on Considering A Sale of Your Dental Practice? How to Make It Tax Efficient. In this presentation, attendees will learn how to structure the asset allocation to minimize taxes and maximize value when selling a dental practice.
Six hours of continuing education credit are offered.
The ADA Council on Dental Practice is committed to the ADA’s goal to present meaningful CE on topics of interest to member dentists, said Dr. Stacey K. Van Scoyoc, chair of the Council on Dental Practice.
For more information on the conference, visit ADA.org/transitions.