If you are considering buying a healthcare practice, you need someone to be on your side and help ensure you get what you want out of the process. At Crossroads Healthcare Transitions, our team is here to guide you through the process of buying a healthcare practice and smoothly transitioning the ownership over into your name. Finding the right practice for you will involve economics, demographics, and emotional considerations on all ends. We believe that the best practice transitions start from a place of mutual trust and reliability. Let our team help you find the perfect practice for you. We will help you determine what practice fits your desires, and make sure your search is private and comprehensive along the way.
Buying A Healthcare Practice: What To Expect
The first step to buying a healthcare practice is to complete a buyer’s survey. The buyer’s survey is designed to help us get to know you, your goals, and your needs as a buyer. This allows us to gain a full understanding of where you are in your purchasing journey and determine how we can best serve you going forward. Please take the time to fill out the buyer’s survey here.
Steve did an amazing job coordinating and paying attention to the small details to make the purchase of my second practice easy! — Adrienne Hedrick, DDS
Following the completion of the buyer’s survey, we ask that you sign our non-disclosure agreement. Your privacy is our top priority. We want to ensure that both the buyer and the seller’s information are protected during all steps of the transition.
Usually, practices for sale are confidential to the staff, patients, and the general public. After you’ve completed your non-disclosure agreement, you will receive a detailed prospectus for a practice listing.
In the early stages of a practice purchase, we recommend getting pre-approved from a reputable dental lender. This shows the seller that you are serious about pursuing the purchase of their practice and moves you to the front of the line in terms of buying power. The Crossroads Healthcare Transitions team has extensive expertise in helping our client choose what dental lender is best for your individualized goals.
As the purchase process progresses, you will receive a prospectus from the practices that you are interested in. A prospectus is a document that contains all necessary information on the practice including financial records. It should give you a good idea of what the goals of the seller are to help ensure that your goals are mutually aligned.
One of the final steps in the process is attending a showing. A showing is your chance to see the practice in person. Showings are scheduled through a broker, and the seller does not attend. Additionally, showings are held after business hours. Keep an open mind during the showing and know that we are here for you if you need us.
Ready to Buy?
Crossroads Healthcare Transitions is here to make the practice purchasing process as easy as it can be for you. We take care of all the little details and ensure that your experience is a positive one. If you are interested in seeing how we can help you through this process, please contact us. We look forward to speaking with you soon.