Professional Transition Strategies
Professional Transition Strategies
A practice transition is not as simple as some doctors may believe. If not done correctly, it can be a very costly experience. Discover what to do in order to create a successful transition.
Professional Transition Strategies

Why Dental Practice Demographics Matter

Why Dental Practice Demographics Matter

5/27/2019 2:02:18 PM   |   Comments: 0   |   Views: 60

Why Dental Practice Demographics Matter 

 

Whether looking to buy a new dental practice or sell an existing one, assessing the demographics of the surrounding area will only be advantageous. Once you’ve established the type of practice you want, make sure to consider the competitive analysis and demographics to ensure the location will work for your practice. Here are some factors to consider when looking at the big picture.

Ask the right questions

How is population growth? What is the age distribution? Is it your target market based on income and job types in the area? What is the average education level? Do the majority of residents come from an ethnic background? Does the neighborhood lifestyle align with your practice?

Consider the prospectus

When valuating a dental practice, its physical location of the practice and type of building in which it resides will be at the top of the prospectus list of demographics to help determine fair market value.

State the facts

In addition to the obvious percentage breakdown of patient demographics by gender and age brackets, a list of nearby specialists will help determine if your practice will thrive in the current climate. For example, if your practice is geared toward children (i.e., pediatric dentistry or ortho), you’ll want to be in a younger community. If you do a lot with implants and prosthodontics, you’ll want to be in an older community. If you are planning on offering Medicaid and lots of insurance options, you can be a low- to middle-income area. Conversely, if you want to be more FFS and offering a lot of cosmetic services, being in an affluent area would be advantageous.

What’s next?

Contact the experts at Professional Transition Strategies to analyze the demographics of your dental practice area for you.

The original version of this post appears on the Professional Transition Strategies website

More Like This

Total Blog Activity

769
Total Bloggers
7,939
Total Blog Posts
2,967
Total Podcasts
1,300
Total Videos

Sponsors

Townie Perks

Townie® Poll

Do you allow parents into the operatory?
  

Site Help

Sally Gross, Member Services
Phone: +1-480-445-9710
Email: sally@farranmedia.com

Follow Dentaltown

Mobile App

WITH DENTALTOWN . . . NO DENTIST WILL EVER HAVE TO PRACTICE SOLO AGAIN®

WWW.DENTALTOWN.COM - WHERE THE DENTAL COMMUNITY LIVES®

9633 S. 48th Street Suite 200 • Phoenix, AZ 85044 · Phone: +1-480-598-0001 · Fax: +1-480-598-3450
©1999-2019 Dentaltown, L.L.C., a division of Farran Media, L.L.C. · All Rights Reserved