26. A buyer’s and seller’s guide to navigating practice transition day

With Dr. Lee Maddox

Buying or selling a healthcare practice is usually one of the biggest financial decisions of a doctor’s life.

It can be accompanied by stress, uncertainty, and even conflict.

Since it's something most people do only once (maybe twice), the laws and best practices that govern practice transition can be unfamiliar or confusing.

Meet our guest

Dr. Maddox practiced endodontics and maintained two offices in Orange County, California, for five years. During this time, his practice increased production by an incredible 700%.

In his post-provider life, he's been providing legal services to dentists since 2001, helping thousands of doctors with their transition needs and general ledger services. He's been in the dental transition business as a practice broker from 2010-2018 and practices law full-time to support dentists, veterinarians, and other medical professionals.

In this episode

The importance of fostering appropriate communication between buyer and seller
How to pair the right buyer with the right seller
The special nuances of a practice transition between owner and associate
What to expect on transition day
How to prepare practice staff for an ownership transition

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