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Imagine the most important decisions in your career being guided by an
experienced, well regarded, knowledgeable expert.
Reality is here, you can stop imagining!
Practice Transition / Succession Planning is designed to
provide a process to develop associateships, partnership and
practice sales smoothly and equitably. It helps make the
transitions a win-win for all parties. Randall K. Berning
co-authored the ADA publications Associateships and Valuing A
Practice. Those publications are now on their 5th revision
and have withstood the test of time and countless doctors and
their advisors review. You can be guided by the same judgment he
provided in writing the publications and that has served
hundreds of dentists in his consultations for more than 25
years.
We help create a satisfying practice arrangement for the doctors
seeking a well planned practice relationship by stating what the
parties should do and how to do it.
Most doctors seem to forget that professional practice
relationships have great elasticity. By that we mean that there
are a variety of options available to create a structure
tailored to the doctors needs. We are experts at identifying
options for the doctors to consider, determining what structure
fits the underlying practice and matching it with traditional or
more creative formats. With a tailored associateship,
partnership or planned larger growth oriented practice it
provides a wonderful and satisfying practice arrangement.
The Program Starts With Several Important Initial Discussion
Areas.
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What Is Right For This Practice and For Each Of the Doctors:
Developing An Initial Associateship, A More Immediate Buy-In, A
Shorter Term Buy-out Or A Longer Term Buy-in?
Is the current doctor owner or group looking toward a doctor
leaving in the near future or is there interest in the doctor
continuing with the practice for many years? Is the younger
professional prospect interested in a modest equity interest or
equal equity partnership interest? Stating the expectations
of the parties relating to a variety of foundation and
qualifying issues, including those above, allows for an
intelligently designed partnership relationship to be developed.
It is part of our mission to develop professional practice
associateships, partnerships or planned larger practices that
last for the time period necessary to effectuate the parties'
goals. The structure, agreement provisions and relationship
should give the doctors, the staff, the patients and referral
sources the confidence that the practice is stable.
We do not know of another more successful approach to developing
professional practice relationships. See our outstanding
Testimonials.
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We have a solid record of helping doctors develop their
professional practice goals. We coordinate with our affiliates
in providing professional third party practice valuation, cash
flow projections to illustrate the financial and tax terms,
providing suggested terms for the entire period of the
relationship. The period of the relationship can be short or
long, starting with an associateship or not, or starting with a
partnership and where there is a planned buy-out and eventual
hire back of a practice founder.
For Practice Owners We Provide Prospect / Practice Evaluation
and Next Steps To Take.
We act to suggest and illustrate the steps the practice owner
should be taking to find, qualify and present an opportunity to
prospects, including comprehensive opportunity binders, practice
valuation, compensation distribution, terms letter and document
sets. Younger professionals have many practice equity
opportunities today and we take seriously encouraging practice
owners to develop a professional package for the younger
professional and their advisors to evaluate the practice
partnership opportunity.
For Younger Professionals We Provide Opportunity Review and
Guidance.
On behalf of younger professionals we help to review and
evaluate proposals, buy-in or buy-out arrangements, compensation
distribution, tax structure, benefits, and the potential path of
the relationship as well as help locate local counsel and
accounting assistance.
How We Help You Establish Your Relationship and Your Future
Path.
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A Tackle It consultation is scheduled prior to Your
Planning Day.
The consultation is designed to help ensure that the
Practice Transition / Succession Planning Day is right for
you and tailored to the needs of the doctors and practice.
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Once the Practice Transition / Succession Planning Day is
scheduled.
We request
relevant information on the practice and practitioners. An
appropriate questionnaire is provided to each party.
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During Our Day Together, In Addition To the Items Noted Above,
We Assess The Potential Future Path of the Relationship and
Provide a "Start to Finish" Discussion.
A primary part of the day is to use a process to build your
practice transition relationship, suggest proven terms, suggest
advisors if the practice does not currently have counsel,
suggest agreement provisions, develop your timeline and more.
The above description of the program offered by Berning &
Affiliates is intended to help doctors start their practice
transition planning right by taking account of the practice and
personal goals of the doctors. Practices vary. Call us at
800-8121 to discuss your practice and your needs. |
