I’m going to let this story speak for itself.
It comes from one of my former clients and describes in great detail why a DSO is such a good opportunity.
Only thing I’ll say is …
Don’t wait for a heart attack to get the benefits.
“With over 25 years in business and three practices that net mid-seven figures, I had no interest in the details of how to partner with a DSO.
But things change. And, sometimes they change faster than you expect.
In my case, that change could have wiped out the entire value of my life’s work.
One day, with no high-risk factors and no warning, I had a heart attack. Fortunately, I survived. And, my associate doctors kept the practice running.
That heart attack was a wake-up call.
If I had become disabled and couldn’t practice, or had died, the practice would have been sold for a tiny fraction of its worth, or simply dissolved.
Fortunately, I was back to work in about six weeks. But, the decision was made: I had to protect my equity, so if there was another event and I wasn’t so lucky, my family would be secure.
About that time, a colleague introduced me to Stan Kinder.
Before the heart attack, I had no interest in details on how to affiliate with a DSO. But after the unexpected struck, and I realized my risk of losing everything was real, I was happy to speak with Stan.
Today, in hindsight, I say in all honesty, and with no sugar-coating, listening to Stan Kinder explain the advantages affiliating with a DSO may give you, was the best decision of my professional career.
I did not know a DSO may pay several multiples of bottom-line profit for a good practice.
That valuation formula would net me millions more than I would have ever received in a
doctor-to-doctor sale.
Having never considered partnering with a DSO, I did not know you could take a huge cash equity out of your practice, and still retain a percentage of ownership that may give you another multi-seven figure payday a few years down the road if the practice continues to grow.
Most importantly, I did not know that once I partnered with a DSO, besides transferring huge equity from my practice to my bank account, if I became disabled, with the DSO as the majority partner running the business side of everything, the practice would continue uninterrupted, the value of my retained equity was secure, and if I passed away, my heirs would inherit my retained value.
And finally, working chairside with no limit on my ability to earn and with no management responsibility, there would be less stress, no employee-marketing or affiliate doctor concerns, and an agreeable work situation, with me doing the dentistry I love, and others handling daily operations.
Once I understood the details, and realized the value of my equity would no longer be at risk, and not subject to my ability to practice, or at risk of economic downturns that would hurt any dental practice, I decided to go forward. Stan made the entire process seen easy.
He did a practice valuation.
He matched likely DSO partners with my practice, and my vision of an ideal practice scenario going forward.
He helped prepare a partnership proposal.
He helped negotiate everything, including a post-partnership employment agreement.
And, he stayed with the process from start to finish. The answer to any question that came up, was one phone call away.
Bottom line: I couldn’t be happier.
This would not have happened without Stan’s help.
Today, my equity is secure in my bank.
My family is financially secure come what may.
And, I have an agreeable practice situation I enjoy, with retained equity and the possibility of another seven-figure pay day a few years down the line.
Stan Kinder has my highest possible recommendation.
He is a man of integrity.
He’s a straight shooter.
He tells you like it is.
He gets things done fast.
And, if you speak with him, you’ll be glad you did, whether you decide to partner with a DSO or not.”
—M. H. DDS