The 8 Secrets of Buying the Right Dental Practice: Increase Your Income and Independence, Build Equity, and Avoid Expensive Mistakes

By Fabio Oliveira

FOR OVER TEN YEARS, I've been obsessed with helping private dentists chase their entrepreneurial spirit to become successful practice owners. All over the country, I've had the pleasure of working with very successful doctors who buy highly successful dental practices. There's nothing more rewarding for a doctor than practicing on your own terms with full clinical autonomy. The best part for me is seeing my clients experience a pride of ownership that very few people get to experience in life.

Every week, I speak to at least ten new dentists looking to buy a practice. And the most common question I get is this: "How do I know what a great practice to buy looks like?"

The thing is, that's the kind of question that takes years of experience to answer. Unless you really know the ins and outs of evaluating a dental practice acquisition, you're bound to miss the key indicators of the right practice—or worse, buy the wrong one.

That's why, in this book, I'm going to show you the eight characteristics, or "secrets," of a great practice to buy—all backed by evidence and hard data—so you'll know exactly what to look for when you're ready to buy.

• Language: English
• Publisher: BookBaby
• Release date: Apr 12, 2022
• ISBN: 9781544529622

Book preview

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Advance Praise

"Buy The Right Practice helped me avoid a big mistake and buy the wrong practice that would have brought me a lot of headaches. Then it helped me find a great practice to buy that met many of the criteria."

Roberto Macedo, DDS

Fabio Oliveira has helped me own two practices that together generate over $4 million in revenue. The amount of money I’m taking in has gone up significantly since I was working as an associate dentist. Last year, I traveled to nineteen countries while my business still generated cash flow at home.

Justin Scott, DMD

"The 8 Secrets has changed my life in a lot of ways. I’ve purchased an underperforming practice, and only one year later, it is generating double the revenue I paid for. The amount of money I’m making has gone up, and I’m looking to buy another. I spend much more time with my family than I did working as an associate."

Alexander Ferdkoff, DDS

What Dentistry’s

Key Opinion Leaders

Are Saying about

The 8 Secrets

"This book is a must-read for any dentist going into practice ownership. The 8 Secrets lines up with all the data we have collected from more than 10,000 dental practices around the country. If you follow this system, you are greatly increasing your chances of buying a practice that grows to be in the top 10 percent of all practices."

Weston Lunsford, CEO, Dental Intelligence

"I coach many successful practices in our mastermind group, and The 8 Secrets lines up with what I have seen as key characteristics of great dental practices. I’ve also purchased 2 practices myself and more than doubled them in a short period of time. When you follow this system, you are greatly increasing your odds of becoming a successful practice owner."

Dr. Christopher Phelps, DMD, CMCT

Founder & CEO, The Phelps Institute,

Call Tracker ROI, Golden Goose Scheduling

I’m thankful to have the opportunity to work with many successful practice owners in our Freedom Founders Mastermind program. If you want to reach those same levels of success, you have to control your own destiny and stack the odds in your favor. I highly recommend that your first step be to pick up a copy of this book.

Dr. David Phelps, DMD, Founder & CEO, Freedom Founders

I can’t stress enough how important it is to find the RIGHT practice—this isn’t like a one-year apartment lease that you can get out of. Buying the wrong practice can lead to, at best, years of practicing types of dentistry that you never wanted to and, at worst, significantly less income than your peers in more opportune areas.

Kent Miller, Founder & CEO, Dentagraphics

Mathematics is the music of reason.

James Joseph Sylvester

The 8 Secrets of Buying the Right Dental Practice

Increase Your Income and Independence, Build Equity,

and Avoid Expensive Mistakes

Fabio Oliveira

Copyright © 2022 Fabio Oliveira

All rights reserved.

The 8 Secrets of Buying the Right Dental Practice

Increase Your Income and Independence, Build Equity,

and Avoid Expensive Mistakes

isbn hardcover:

978-1-5445-2317-0

paperback:

978-1-5445-2316-3

EBook:

978-1-5445-2962-2

Contents

Advance Praise

What Dentistry’s Key Opinion Leaders Are Saying about The 8 Secrets

Foreword

How I Learned More about the Dental Business than Most Dentists

Who Should Read This Book?

Why Am I Giving This Book Away?

Why Am I So Certain?

Secret #1: Collections of $600K–$1.2M

Secret #2: Mainly PPO Patients with Some Fee-for-Service and Bread-and-Butter Dentistry

Secret #3: Patient Base of 1,500–2,500 Active Patients

Secret #4: More than 20 New Patients per Month on a Small Marketing Budget

Secret #5: Hygiene Accounts for 20 Percent to 30 Percent of Total Production

Secret #6: A Healthy Amount of Patient Accounts 90+ Days Overdue

Secret #7: At Least Four Operatories

Secret #8: Financial Categories within Benchmarks

Bonus: How to Measure a Practice’s Upside Potential

Working with a Team of Experts to Find and Analyze Your PERFECT Practice

Case Studies

Foreword

By Dr. Bruce Baird

Fellow Dentists,

I have been fortunate enough to have had a great career as a dentist, building a successful practice in Granbury, Texas, and being one of the most productive dentists in the country, producing over $3,500 per hour.

I’ve helped thousands of dentists across the country increase their hourly production via my work with the Productive Dentist Academy.

I wish I could give you the blueprint to go into practice ownership for yourself by doing exactly what I did, 30 years ago, when I first became a dental-practice owner. However, what worked then simply won’t work now.

Over the last 15 years, dentistry has changed. Today, you must compete with corporate groups to buy your own dental practice. They have more money, access to more practices, better ways of analyzing practices, and much better ways of transitioning the practice successfully and significantly growing