The old real estate adage of “location, location, location” carries over to dental practices, too. And in the Pacific Northwest, you’ll find a number of reasons why your dental practice assesses a higher value than other areas of the country. Here, we list a few reasons why now is a great time to sell.
Desirable location
Sticking with the real estate analogy, the more desirable an area is, the higher property values tend to be, whether the housing market or business property. These days, thanks to the tech boom, the Pacific Northwest is proving to be a seller’s market with the influx of business and overseas investments moving to the area. When assessing the value of a practice, the seller comes out on the higher end of the deal in an area where people want to live and work.
High concentration of dental service organizations
Along with big business comes DSOs that contract with individual dental practices to manage the non-clinical operations, leaving you the option to stay on with a lighter workload to release the managerial responsibilities. In a growing market like the Pacific Northwest, DSOs are willing to pay a higher price to expand their services while also leaving you the option to earn a salary after the sale.
Higher insurance reimbursements
Simply put, your dental practice gets a higher percentage back from the insurance companies than other areas of the country, making the potential to earn more an attractive quality to buyers. The higher concentration of business in the Pacific Northwest means insurance companies are able to offer a bigger cut, which translates into more money in your pocket both before and after a sale.
What’s next?
Ready to sell your dental practice? Learn how else you can increase the value of your practice before you sell, then contact the experts at Professional Transition Strategies to start the next steps.