In This Episode
Often, dentists focus their energy on growing their patient base, expanding revenue streams, or optimizing office workflows, but an equally important consideration is planning for the sale of their dental practice.
In this episode of "The Art of Dental Finance and Management,” Art is joined by his long-time partner in the dental practice transition field, Dr. Bogdan Madurowicz. Dr. Madurowicz practiced general dentistry in North San Diego County for thirty-three years and brings substantial experience from numerous transitions. During the episode he provides valuable insights drawn from his experience in selling his practice and offers thoughtful recommendations for both buyers and sellers engaged in the process.
The episode focuses on critical considerations for practice owners preparing to sell, such as maintaining accurate financial statements and enhancing the physical facility before listing. The episode also addresses how sellers should interact with landlords and how to maintain office leases.
Additional advice for potential sellers includes best practices for collaborating with banks, financial readiness, and buyer expectations. The purchase and sale of a dental practice is a complex process that typically requires extensive planning, often one to three years in advance. This episode will offer key insights to assist both sellers and buyers in navigating this intricate transaction.
Show Notes & Resources
- Upcoming Eide Bailly Events
- Eide Bailly's Healthcare Services
- Decisions in Dentistry
- Academy of Dental CPAs
About the Host
Art Wiederman, CPA, Director of Dental Practices | Eide Bailly
Art specializes in serving dental practices. He oversees a variety of services including accounting, tax compliance and planning, financial planning, retirement planning, and financial practice management consulting. Art’s expertise is not only in taxation issues for dentists, but also in his knowledge of dental practice metrics and benchmarks. Art has the ability to look at a dentist’s statements and identify profit holes in their practice.
About the Guest
Bogdan Madurowicz, DDS
After retiring early from his dental career, Dr. Bogdan Madurowicz leveraged his extensive experience to guide fellow dentists through the often-complex process of selling their practices. Dr. Madurowicz's professional background includes over 33 years managing a fee-for-service restorative family dental practice, more than 40 years overseeing investment property management, and eight years specializing in practice sales throughout Southern California. He has developed well-established partnerships with lenders, attorneys, CPAs, and dental consultants.
Outside his professional pursuits, Dr. Madurowicz is passionate about ocean sports and mountain hiking with his family. He also enjoys home improvement projects in North San Diego County, the area where he practiced dentistry and where he and his wife Kelly raised their family.
