Who Decided to Remove the Value from Your Dental Practice?

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Who Decided to Remove the Value from Your Dental Practice?
Posted on 09/02/2021

“Nowadays people know the price of everything and the value of nothing.”

OSCAR WILDE

This quote was written many years ago, but how true it is today!  It is incredibly disturbing to now see Internet advertising “gimmicks” where a person or a business entity has been given the privilege of selling a dentist’s priceless dental practice, list the selling price as if they were selling a car or refrigerator! Of course, selling price is important, but when used as an indicator of value, it assumes that all dental practices are created equal.  They are not.

Webster’s dictionary defines “Value” as the regard that something is held to deserve; the importance, worth, or usefulness of something.Price” is the amount of money expected, required, or given in payment for something.

The life work of a dentist is priceless. However, the transfer of that life of work does carry value that another dentist will benefit from.  I often tell my clients that Value and Price are two different things. The reason that this is important is that price doesn’t take into consideration the most important factors that separate one practice from another.  If a dental practice was only made up of tangible assets or your equipment and supplies, then it would be like selling a car or a refrigerator.  But that is not the case.  Dentistry is a service business where the principal provider, hygienists and staff “serve” others by providing education, unique and skilled treatment procedures, as well as emotional and physical care.  There is so much more to the real story and VALUE of what a dentist is selling when transitioning his/her business.

© 2021

Susan A. Spear

SAS Transitions, Inc.

Dental Practice Brokers