After selling your dental practice, one of the most important decisions you’ll need to make is whether to stay on as a practicing dentist or step away entirely. Many practice owners choose to stay on for a transition period or even indefinitely as a clinician. In this blog, we’ll explore the pros and cons of staying on after the sale and how to determine if this option is right for you.
The Benefits of Staying On As a Dental Associate After the Sale
Staying on after selling your practice can offer several benefits, both for you and the buyer. For starters, it allows for continuity of patient care, which can help retain patients and maintain trust during the ownership transition. Patients are more likely to stay with the practice if they know their longtime dentist will still be involved, even if ownership has changed.
Additionally, staying on as a clinician lets you continue practicing dentistry without the administrative burdens of running a business. The buyer will take over the operational aspects, such as managing staff and finances, leaving you free to focus on patient care.
What to Consider When Staying On
While staying on after the sale has its benefits, it’s important to consider a few key factors before making your decision. First, think about how long you’re willing to remain involved. Do you want a short-term transition period, or are you open to practicing indefinitely?
Next, consider the terms of your employment.Will you be working as an associate under the new owner, or will you have some autonomy? It’s important to negotiate these details upfront to ensure that you’re comfortable with the new arrangement.
The Pros and Cons of Staying Involved With Your Dental Practice
There are pros and cons to staying on after selling your practice. On the positive side, you’ll get to maintain your relationships with patients and continue doing the work you love. However, you’ll need to adapt to working under a new owner, which could involve changes in how the practice operates. Ultimately, staying on after the sale is a personal decision that depends on your goals, work-life balance, and how much involvement you want in the practice going forward.
Conclusion
Staying on after selling your dental practice can offer many benefits, from patient continuity to reduced operational responsibilities. However, it’s essential to carefully consider the terms of your continued involvement and whether this option aligns with your personal and professional goals.
Thinking about staying on after selling your practice? Fill out this form to schedule a risk-free call with our team and explore how to structure a post-sale arrangement that works for you.