144. Key Factors to Consider Before Investing in a Dental Practice

In this episode, industry expert Jesse Lee shares invaluable insights into navigating the world of dental practice investments. From avoiding common pitfalls like excessive debt to understanding the significance of liquidity as a backup source of repayment, Jesse covers essential aspects that every dentist should consider before venturing into practice ownership. He discusses the importance of assessing skill sets and patient bases when stepping into the shoes of previous practice owners and highlights the value of fostering long-term banking relationships, particularly in challenging times like the COVID-19 pandemic.

@04:27 Making the wrong Financial Decision

@07:40 Cash Flow

@16:11 What practice should I buy?

@21:12 Seller Standpoint

@24:36 Difference between banks Connect with Dr. Jesse Lee - The Dental Banker

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Who is Dr. Sully Sullivan?

Dr. Sully is a fourth-generation dentist from Nashville, Tn. After receiving his doctorate of dental surgery from the University of Tennessee, he moved back to Nashville to practice with his father. By continuing to invest in his education through adult orthodontics, soft tissue grafting, dental implants, third molar extractions, and obstructive sleep apnea, he helped double his practice in just 24 months.

As a millennial, he truly believes in working smarter not harder, which has led him to utilize technology to not only deliver better patient care but more efficient care. Dr. Sullivan regularly uses CEREC, 3D imaging with Galileos, 3D printing, and multiple lasers. In addition to his practice, he started the Millennial Dentist Podcast in February of 2017 to help push his fellow colleagues to take their dental careers to the next level. Dr. Sully lectures around the country on cone beam technology, cad/cam dentistry, obstructive sleep apnea, and practice management. He is also an ambassador for the 3D-Dentist teaching facility in Raleigh, NC.

As always, thanks so much for listening! If you like the show, we would love for you to review the show on Apple Podcasts as well as spread the word! If you have any questions or want to get in touch, shoot me an email at [email protected]

Links and Resources

Richard Sullivan, DDS

Partner, Sullivan Dental Partners

Co-host/Founder of the Millennial Dentist Podcast

http://www.millennialdentist.com

www.drsullysullivan.com

c. (615)574-8208

w. (615)373-1012

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