ADA Practice Transitions (ADAPT)
ADA Practice Transitions is now matching dentists in Kentucky!
We are now available to dentists who either own a practice or want to work in Indiana, Iowa, Kentucky, Maine, Michigan, Minnesota, New Hampshire and Wisconsin.
We can help you find the right situation, no matter your goals:
- Finding a job
- Buying a practice
- Selling your practice
- Hiring an associate
Work with the ADA Advisor to find a job, buy or sell a practice, or hire an associate. Find your best match on the online platform helps you navigate key career decisions.
This is not an MLS-type service where you browse available jobs or practices. Instead, ADA Practice Transitions does the initial work for you, helping you find the right match for your long-term plans AND providing the support you need throughout the entire process...
Making matches for the long-term: why ADAPT isn’t just another broker
Traditional brokers tend to get you through a sale, then walk away. ADAPT takes a different approach, giving you the tools, knowledge and hands-on support you need to navigate the entire transition, from first interview through long-term success. Find out why ADAPT’s approach leads to thriving practices, satisfying careers, and happy patients.
1) What types of transitions does ADA Practice Transitions assist with?
- Associate placement
- Practice purchase/sale
2) I am a specialist, can I use the service?
Not at this time, but stay tuned!
3) Why is Philosophy of Care important?
If dentists entering into a transitions share a common vision about how patients, staff and their communities are to be taken care of, they will be happier and more successful. Even if the owner will not be staying in the practice, the patients will be happier if they continue to experience a similar treatment style and thus more likely to stay with the new owner.
4) What is the purpose of the profile?
The online platform, which includes a personality assessment and extensive questionnaire, helps dentists think about and articulate their philosophy of care. This information is used by the ADA Advisor to connect dentists who are compatible in key areas that determine a successful transition.
5) What does the ADA advisor do?
- Suggest potential matches via the online platform
- Assist with the introduction by providing guidance on the interview process
- Act as a sounding board for dentists who are not entirely sure of what they want
- Refer the dentists to the appropriate legal and financial professionals when it is appropriate
- Follow up with the dentists after the transaction is complete to ensure it is going smoothly
6) Why is the ADA doing this?
Market research that lasted over 2 years identified that owners and incoming dentists were having problems transitioning in and out of practices.
- Owners are frustrated with the cost of the typical broker and the fact that practices outside urban areas are not being well served - but their primary concern is having someone come into their practice who shares their philosophy of care, they want their patients taken care of by someone who shares their values.
- Incoming dentists are frustrated because they are not aware of the options that are available to them and are often being caught in ‘standard’ contracts containing language that ends up jeopardizing their future plans. For example, a dentist goes into a practice with the promise of ownership but the owner ends up not following through. The incoming dentist, who wants to own, is established in the area – maybe has a family - must deal with a non-compete that forces them to move if they want to pursue practice ownership.
7) I am not a member – can I use the service?
YES, but if you take a close look at the pricing page found on adapracticetransions.com, you will see that it may make sense for you to become a member before signing up.
8) What does this cost? Costs are ADA member/non-member
- It is free to fill out the platform but you will not have access to the advisor or matching until you subscribe to the service for $25/$50 per month
- Owners will pay $3,500/$5,000 if an associate is found for the practice
- Owners will pay 4%/7% of the sale price if the practice is sold
- Incoming will pay $500/$1,000 if placed as an associate
- Incoming will not pay any fees if purchasing a practice
9) I want to find associates for my DSO
The service is available to private practicing dentists only at this time, you are welcome to contact ADAPT@ada.org for additional information
10) I am having trouble filling out the platform information:
Call the ADA Practice transitions team at 800-232-6119 or email them at firstname.lastname@example.org