What is My Practice Worth?
Posted by Administrator at 7:49 PM on Oct 23, 2015
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Many dentists, especially those nearing retirement or hoping to sell their practice in the future, want to know what their practice is worth. In these cases, a practice valuation can give you the estimate you’re looking for!
It’s true that valuations can be time consuming, and as a general rule, your practice’s value can be estimated at 65% of its annual revenue. Unfortunately, this can be a very wide range, which can drop you right back at square one. There are a number of outside factors, including your staff, your patient base, your medical equipment, and your competition in the area. All these factors are taken into account when the final value is placed on your practice, rendering the 65% rule useless.
Fortunately, we here at Dental Bookkeeping have a system in place to give you accurate numbers when it comes to the potential worth of your practice. To find out more, or for information on increasing the value of your practice, please contact Dental Bookkeeping today!