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Have you ever pondered whether selling your practice to a DSO could unlock the doors to financial freedom and a more manageable workload? Dr. Paul Etchison, a seasoned dentist, not only entertained this idea but took the plunge. Was it a seamless journey? Join us to uncover the hurdles, unexpected opportunities, and invaluable lessons he gathered along the way. In this episode, he also dives into critical aspects such as DSOs acquiring dental practices, the motivations behind selling his practice, the intricacies of practice valuation, the nuances of managing and owning a practice, the art of negotiating with DSOs, and finding the right work-life balance. Tune in for a comprehensive exploration of his transformative experience.
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Meet Dr. Paul Etchison, a visionary leader blending clinical expertise with business smarts. This Chicago-based dentist built a practice exceeding $1 million in collections in year one and eventually sold the practice to a DSO. His secret? Combining marketing with a killer team and a passion for both dentistry and your well-being. Tune in and discover how Dr. Etchison carves his own path to success.
Timestamps
- 00:02:07 – Discussing insights into DSOs acquiring dental practices
- 00:05:07 – Exploring the factors that led Dr. Et to consider selling his practice
- 00:11:41 – Delving into the intricacies of practice valuation
- 00:18:09 – Analyzing the pros and cons of managing and owning a practice
- 00:20:56 – Comparing different DSOs in the dental industry
- 00:23:03 – Unpacking the art of negotiating with DSOs
- 00:25:27 – Shifting mindset perspectives
- 00:30:11 – Exploring the journey towards financial independence and achieving a work-life balance
- 00:35:42 – Support and services provided by DSO
- 00:40:42 – Gary shares an anecdote
Amazon Link to Purchase Paul’s Book: Dental Practice Hero; From Ordinary Practice to Extraordinary Experience http://bit.ly/DentalPracticeHero
Paul’s Email address: dentalpracticeheros@gmail.com
Resources
Gary became a successful practice owner by purchasing a fixer-upper practice and developing it into a world-class dental practice. He is passionate about sharing his hard-earned insights and experiences with dental practices across the globe.