In our latest episode of 'The Dental Deal,' Brett sits down with Dr. Jason Montgomery and discusses his practice transition process from start to finish. Dr. Montgomery is a distinguished local dentist based in Dallas. This enlightening episode delves into the intricate world of dental practices, transitions, and the often-misunderstood concept of Dental Service Organizations. This episode gives a firsthand account of what the transition process is like from the doctor’s perspective. 

Dr. Montgomery opens up with the history of his practice, Lonestar Dental. The narrative unfolds as the Dr. Montgomery recounts his practice’s journey, beginning with the challenges of retiring partners and the decision to eventually merge practices with his wife, Dr. Sivie. Their eventually decision to sell to a DSO sets the stage for a captivating exploration of the intricacies of a clean and efficient practice transition orchestrated by 7 Pillars.

The episode takes a candid turn as Dr. Montgomery discusses the reservations he and his wife initially harbored about DSOs. The couple had heard numerous 'horror stories' surrounding these organizations, a notion that many dentists can relate to. Additionally, they found the cookie-cutter processes offered by a big transition firm off putting. They realized the importance of a personalized and flexible approach heavily focused on education and the choices available.

As the conversation progresses, Dr. Montgomery emphasizes the need for a thorough and inquisitive approach to researching DSOs..

A highlight of the episode is Dr. Montgomery's candid reflection on the DSO transition process from start to finish. Initially uncomfortable and unsure of the questions to ask, Drs. Montgomery and Sivie found the guidance from Brett and Michael at 7 Pillars invaluable. The narrative takes the audience through the variety of partnership choices the couple had to explore – from large DSO conglomerates to private equity groups to start-up DSOs.

Beyond the financial aspects of the deal, Dr. Montgomery shares the profound realization that the transition was about more than just monetary value. With at least 7-10 more years of practice in sight, the deal became a holistic journey that forced the doctors to think long term and about the legacy of their practice.

The episode unveils the pivotal role of 7 Pillars in navigating Dr. Montgomery and his wife through the financial, business development, and marketing aspects of the DSO transition. The dynamic between the couple during the marketing phase adds a human touch, as differences in preferences surface. Dr. Sivie and Dr. Montgomery's exploration of their disagreements during this phase adds relatability and authenticity to the narrative.

This episode of 'The Dental Deal' offers a comprehensive and insightful exploration of the world of dental practice transitions and DSO partnerships. Listeners are treated to a firsthand account of the challenges, hesitations, and triumphs that come with such a significant decision. Dr. Montgomery's story can serve as a beacon for dentists navigating similar paths, emphasizing the importance of thorough research, collaborative partnerships, and a holistic approach to practice transitions. Tune in to gain a deeper understanding of the dental industry's intricacies and glean valuable lessons from Drs. Montgomery and Sivie’s practice transition journey.

Welcome to another insightful episode of The Dental Deal! In an episode purely focused on the financial planning perspective of joining a DSO, Christy is joined by Brittany Frazier. Brittany is a financial planning partner of 7 Pillars with Cain Watters & Associates. Tune in as Christy and Brittany tackle debt management, tax strategies, investment considerations, and retirement planning. Brittany shares her invaluable insights tailored to clients exclusively within the dental field.

As the conversation unfolds, learn about the evolving landscape of DSOs. Christy and Brittany discuss that these transitions offer a lot of opportunities, and should not be solely seen as an exit strategy. Young dentists are increasingly recognizing DSOs as viable growth strategies for their practices, marking a significant shift in the industry. Christy and Brittany’s deep financial knowledge offers a unique perspective on the ever-shifting DSO space. The episode addresses common pitfalls, with Brittany pinpointing a few examples she encounters with her clients. Particularly, the need to understand the 'why' behind their decision to transition their practice to a new owner.

‘Chasing the multiple’ is another critical concept explored in this episode. Brittany emphasizes the importance of avoiding the mistake of solely pursuing higher sale multiples and highlights the role of brokers in helping clients find buyers who align with their desired practice style.

Tune in to gain a deeper understanding of the financial intricacies involved in DSO transitions and pick up valuable insights to navigate this dynamic landscape successfully. Whether you're a seasoned practitioner or a young dentist exploring growth avenues, this episode provides a comprehensive guide to strategic financial planning in the ever-changing world of dental practice transitions. Reach out to a 7 Pillars team member today if you have any questions!

 Welcome to another episode of The Dental Deal. We are tackling a common scenario in practice transitions: Transitioning With Associates. In this insightful discussion, we focus on the considerations that arise when selling a practice to a Dental Service Organization (DSO) and managing associate practice owners during this crucial period.

Selling a dental practice is a monumental decision, and when associates are in the picture, the dynamics become even more intricate. This episode unravels the intricacies of when and how to broach the subject with associates, exploring the potential impact on the overall deal.

Christy and Brett share their wealth of experience guiding clients through these situations, offering valuable insights into the nuances of these sensitive conversations. From understanding the right timing to communicating the implications, every aspect of this touchy topic is explored to guide doctors through the maze of considerations.

One of the biggest takeaways from this episode is its recognition that there's no one-size-fits-all solution to handling associates in these situations. The hosts acknowledge the myriad circumstances that can surround these transitions and provide practical advice that can be tailored to individual scenarios. Listeners can expect real-world examples, case studies, and actionable strategies to help them see the situation through the lens of their own practice.

Whether you're a seasoned practitioner contemplating a transition or a newer dentist considering the future, this episode of The Dental Deal is a must-listen. Gain the tools and insights needed to approach these challenging conversations with confidence, ensuring a smooth transition that aligns with your professional goals. Don't miss out on the wisdom shared in this episode - your practice's future may depend on it.

Tune in to The Dental Deal and take the first step toward a successful and fulfilling partnership in the dental industry. Reach out and connect with a 7 Pillars professional if you have any questions along the way.