I often discuss what I would do if I was an orthodontic residents coming out of school today and dead set on owning a practice in a competitive area – as opposed to living where there is a need. We are in total agreement that we would purchase a large dental practice or group of practices and then start an orthodontic practice within the existing patient base and new patient flow.
I know this sounds crazy to most but think about it. Controlling your own destiny and your own patient base is the name of the game these days and a million dollar dental practice can produce more than enough patients to supply a start up orthodontic practice while producing income from normal dental operations as well. You could keep the seller on as an associate, hire an associate or do the dentistry yourself. In most states it’s perfectly legal to do both the orthodontics and the dentistry! I know most residents recoil at the idea of doing dentistry but, seriously, the days of making business decisions based on what you want are over or soon will be. If you want to insure your success as a practice owner you need to think nontraditionally and be prepared to do whatever it takes! In our opinion, buying a dental practice instead of buying an orthodontic practice or starting from scratch is a great option and will allow you to have plenty of cash flow and new patients while you start your orthodontic practice.
You can do it!!