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Coverage Groups: Don’t be Caught Dead Without One
Dentists, by nature, are solitary beings. Most practice alone and many have no arrangement to keep their practices running if they are unable to be in the office. The thinking often goes, “I have life/disability/overhead/malpractice insurance. What else is there to worry about?” An often-overlooked “insurance” is the cross-coverage group—an agreement among like-minded practitioners to fill in for one another if a member is disabled or dies.
10 Strategies To Make Your Veterinary Hospital Stand Out
Marketing a veterinary hospital takes way more than having a nice website and hoping pet owners find you. You’ve got to build trust, create memorable experiences, and stay top-of-mind for pet parents. Here are 10 creative, strategic ways to help your business stand out, bring in new clients, and keep current clients coming back.
Top 3 myths told to aspiring veterinary hospital owners
At Wicklow, we often talk to associate veterinarians who are considering ownership but aren’t sure if it’s possible. Often, what’s holding them back is misinformation. That’s why we’re featuring this insightful article from Anthony Principe, VP at Bank of America Practice Solutions. Anthony explains the most common myths told to aspiring practice owners and why ownership is more feasible than you might think.
Preparing Your Veterinary Hospital for Sale: Your Facility Matters
Selling a veterinary hospital is a major transition that requires strategic planning and investment to maximize value. Whether you're looking to retire, relocate, or simply move on to new ventures, ensuring that your facility is modern, compliant, and market-ready can make a significant difference in attracting buyers and securing a profitable sale.
10 smart tips to market your dental practice
Marketing your dental practice takes more than just getting your name out there. A successful dental practice uses marketing to ensure the right people know, trust, and choose you over the competition.
The Private Equity Pushback: Why Dental Practice Owners Need Sell-Side Advisors Now More Than Ever
In recent years, private equity (PE) has reshaped the dental industry. Dental practices, especially those with strong profitability and growth potential, have become hot commodities for PE firms eager to consolidate and scale through Dental Support Organizations (DSOs).
Navigating Dental Support Organization (DSO) Partnerships: Insights for Mid-Career Dentists
If you’re a mid-career dentist, you might be surprised to hear that partnering with a Dental Support Organization (DSO) isn’t just for those nearing retirement. More and more mid-career dentists are exploring DSO affiliations as a way to grow their careers, secure financial stability, and lighten the load of managing a practice.
Navigating DSO Partnerships: What Late-Career Dentists Should Know
For many dentists nearing retirement, affiliating with a Dental Support Organization (DSO) can feel like a perfect solution. They offer financial security, operational relief, and a clear path to your next chapter.
Join us in welcoming Dr. Eric Ploumis to the Wicklow team
We’re excited to announce that Dr. Eric Ploumis has joined Wicklow Healthcare Advisory! With 40 years as a practicing orthodontist, 35 years as a dental transitions attorney, and a founding role in a successful DSO platform, Dr. Ploumis brings unmatched expertise to support dental practice owners planning their exit strategies.
Selling to Corporate Entities
In this article, Peter Tanella of Mandelbaum Barrett Law Firm discusses a major trend impacting veterinary hospitals: selling to corporate entities. With nearly 30% of veterinary practices now under corporate ownership, knowing how to approach a sale has never been more important.
Understanding COGS in a Dental Practice: A Guide to Managing Costs of Goods Sold
In any dental practice, maintaining a healthy profit margin depends on controlling operational expenses, including the often-overlooked Cost of Goods Sold (COGS). Understanding and managing COGS is crucial for long-term financial health, as it directly impacts profitability.
Being “bankable”: How to prepare yourself financially to purchase or start a veterinary hospital
At Wicklow Healthcare Advisory, we know that securing the right financing is a critical step in purchasing or expanding a veterinary hospital.
What Should I Be Focused On? KPIs for Veterinary Hospitals
Running a veterinary hospital is a lot like managing any other healthcare facility – it’s important to keep an eye on various Key Performance Indicators (KPIs) to see how things are going. These KPIs give you a clear picture of your hospital's financial health, operational success, and the quality of care you're providing.
But my practice has so much potential!
Valuing professional practices like those of veterinarians and dentists can be complex. Unlike tech startups, these practices are usually assessed based on historical financial performance rather than future potential. This conservative approach is due to their nature, risk profiles, and specific valuation metrics. In this article, we'll explore why buyers often prioritize past financial performance over potential growth for veterinary and dental practices.
The DSO Decision: Strategic Considerations for Selling Your Dental Practice
If you're reading this, chances are you're nearing retirement and contemplating selling your dental practice. First, congratulations on reaching this significant career milestone.
Nearing Retirement: Dental
If you're reading this, chances are you're nearing retirement and contemplating selling your dental practice. First, congratulations on reaching this significant career milestone.
Challenges of Selling a Dental Practice
Whether you're dreaming of owning a dental practice or considering selling your dental business, you're embarking on a unique journey. Unlike any other business, dental practices come…
Private Equity Offers for Veterinary Hospitals
Are you a veterinarian who's received an unsolicited offer for your veterinary hospital? If so, it's important to tread lightly in the world of private equity-backed corporate buyers.
Steps to Buying a Veterinary Hospital
So, you're dreaming of owning your own veterinary practice? That’s great! But there's a financial journey ahead. Let's dive into how you can get financially prepared to make that dream a reality.
Challenges of Selling a Veterinary Hospital
Are you a passionate veterinarian considering selling your veterinary hospital? Perhaps retirement beckons, or you're ready to embark on a new adventure. While the prospect of selling…