Practice Transitions
Practice transitions - whether you’re buying a new practice or selling your current one - are major financial and career milestones. From valuation and due diligence to tax structuring and negotiation, these decisions have long-term impact. The Phillips Group guides dentists through every step so you can protect value and maximize outcomes.
Practice transition services are available on a standalone basis or included for clients currently on our monthly plans, reflecting our commitment to continuity and long-term support.
Transition Services
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This is a deep dive into the finances of the practice you’re keen to buy. We look at the past 3-4 years of tax returns, profit & loss statements, production & collections reports, and more. We even comb line-by-line through each bank statement to analyze the data at a granular level.
Upon completion of our analysis, we’ll meet with you to discuss our findings. Plus, we’ll help you through the rest of the practice negotiation, including with asset allocations.
This fee for this service is $2,500 and it usually takes about one to two weeks to complete.
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We realized that some clients aren’t looking for the full due diligence service, and instead, just need advice during the practice acquisition process. This is where our Buyer Consulting comes in.
For only $1,500, we will walk you through the negotiation phase of the acquisition and help you build a solid foundation for your practice.
Please note that this is an advisory service only, and no financial review or assurance is included. Additionally, our Due Diligence and Monthly Service clients are entitled to this service at no additional cost.
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The Seller-side of the transaction isn’t just “the opposite” of the Buyer-side; it’s a completely different series of conversations. Our goal will be to learn more about your retirement plans and help you structure your asset sale in a manner that complements them.
Ideally, we’d like to begin Consulting with a Seller two years before their practice sale. This allows us to implement various strategies with you and your practice, to reap the maximum benefit when it comes time to sell.
Regardless of when you engage us for this service, we will be with you through every step of the asset sale. We’ll also help you close your company efficiently.
Our fee for this service starts at $1,500. However, there is no charge for clients on any one of our Monthly Plans.
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We can help you file any final business returns and dissolve your company. For current Monthly Plan clients, there is no fee. For all others, we charge $2,500, which includes your final business tax return.
Each Transition Service Includes..
A Wealth of Experience.
Each partner has over a decade of experience, and the firm itself has a client base going back nearly 35 years. All we need is for you to give us the green light to put our knowledge to work - for you.
A Full-Service Team.
From due diligence and buyer consulting, to practice accounting and overhead analysis, all the way to Seller consulting and dissolution of the business, our team can with everything you’ll need.
Unlimited Consultations.
Some of our competitors offer a “Free 30-Minute Consultation”. How generous! Here at The Phillips Group, we’ll communicate with you for as long and as often as necessary until the job is done.
Seamless Technology.
Our tech stack includes cloud technology and process automation to provide a more efficient environment for our processes, resulting in faster, more proactive service to our clients.
Follow-through Guidance.
We don’t just want you to end up with the right practice at the right price, we will make sure you find success in the practice, and we’ll teach you the skills you need to get there.
Virtually Endless Referrals.
In addition to all we offer, we have connections to a myriad of outside professionals specializing in healthcare, from attorneys to real estate agents.
Your Questions, Answered
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A practice transition refers to a major change in ownership or structure of a dental practice. This can include buying a practice, selling a practice, bringing on or buying out a partner, or winding down a practice entirely. Each scenario has meaningful financial and tax implications that should be evaluated before decisions are finalized.
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Ideally, just after the LOI is signed. Many of the most expensive mistakes we see happen when financial and tax considerations are addressed after a purchase agreement is already in place. Early involvement allows us to evaluate structure, cash flow, tax exposure, and long-term impact before you’re locked in.
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Yes. We work with dentists on both sides of a transaction. For buyers, this often includes financial due diligence, cash flow analysis, and evaluating whether a deal makes sense long-term. For sellers, it includes preparing financials, reviewing offers, and understanding the tax consequences of different deal structures.
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We do not perform formal valuations, but we routinely review valuation reports and purchase offers to help clients understand whether the numbers align with the practice’s financial reality. We focus on how the valuation impacts cash flow, taxes, and overall financial outcomes.
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Due diligence typically involves reviewing several years of tax returns and financial statements, analyzing collections and expenses, identifying red flags, and assessing whether projected cash flow supports the proposed purchase price and debt. Our role is to help you understand what the numbers are actually telling you before you move forward.
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Yes. Practice transitions almost always involve multiple professionals. We regularly work alongside dental attorneys, brokers, and lenders to ensure the financial and tax considerations are aligned with the legal structure and deal terms.
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The best first step is a conversation. We’ll discuss where you are in the process, what you’re considering, and whether our practice transition services are a good fit for your situation.
Click here to schedule this conversation at your convenience.
