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MAY
29
0

Dental Elite Proud to Sponsor Dental Awards at Dentistry Show 2018

Awards-DE

At this year’s Dental Awards hosted by Purple Media during the British Dental Conference and Dentistry Show 2018, Dental Elite was thrilled to sponsor not one, but two of the prestigious Awards.

The first, Website and Digital Campaign of the Year, was presented to Narberth & Herbrandston Dental Practices in Pembrokeshire, while Practice Manager of the Year was awarded to Lesley Holden from Sharoe Green Dental Practice in Preston.

Presented by none other than Dental Elite’s Director of Recruitment Services, Luke Arnold, the leading practice sales, acquisitions, valuations and finance agency is pleased to have once again been able to be a part of the Awards. He says:

“It’s always a pleasure to sponsor and present an Award, and we’re extremely happy to have been able to do it again this year. Congratulations to all the winners and category finalists.”


For more information contact Dental Elite. Visit www.dentalelite.co.uk, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01788 545 900

  1164 Hits
1164 Hits
APR
05
0

What will your exit strategy be?

Luke-HS

If you’re a practice principal you’ll no doubt be familiar with the term ‘exit strategy’. What you may not know is that your plan should be in place at least five years before you actually intend to leave. This gives you time to get all your accounts in order, identify the appropriate exit strategy and identify your personal goals for the future. Not to mention that it will help you secure a smooth exit and gain maximum return on your practice.

If you plan on selling the business as a way of securing monetary funds for retirement, then that time can be used to implement strategies that will help to maximise turnover and profits. Advertising and branding can help with this, as can having a dental practice valuation from a specialist valuations company.

As part of your exit strategy you should also decide whether you want to sell the practice outright or stay on part-time as part of a deferred consideration deal. Admittedly the eventual outcome may be outside of your control, but it’s definitely something to give thought to and plan. Especially if your intention is to depart immediately and settle for a smaller sum, as you may need to start your exit plan even earlier.

Of course, the better the planning, the more likely you are to achieve your personal and business goals. So if your heart is dead set on walking away from the practice and avoiding being tied into a part-time contract for several years after the sale, you’ll need to plan in advance to make that happen. Naturally, it’s best to contact a specialist dental acquisitions and sales agency that can help you to establish the most appropriate exit strategy that matches your objectives.

They will also be able to warn you of potential pitfalls to avoid. For instance, don't make the mistake of taking on fewer patients and reducing working hours too soon. All too often practice principals make this mistake, resulting in stagnation of growth and loss of income. As your profits decrease, so will the practice’s attractiveness to potential buyers and banks.

In regard to your staff, be sure to look at the way in which your associates are remunerated in your exit strategy to create an accurate overview of your practice’s performance and potential. Official associate agreements will be needed as well to protect the goodwill of the practice and assure potential buyers that the clinical team plans to remain with the business for the foreseeable future.

If retirement is on your mind or you’re thinking of moving on, then it may be time to start thinking about an exit strategy. Call Dental Elite for a free valuation, healthcheck and expert advice that will help you to achieve your long-term goals and realise your practice’s potential.

 

For more information contact Dental Elite. Visit www.dentalelite.co.uk, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01788 545 900

  932 Hits
932 Hits
JUN
06
0

And the award goes to…

And the award goes to…

And the award goes to…

 

Every year the prestigious Dental Awards take place to celebrate the unwavering commitment and achievements of individuals, teams and companies within the dental profession.

 

At this year’s event, which was well attended by some of the profession’s leading lights, Dental Elite had the pleasure of sponsoring two Awards: Practice Manager of the Year and Dental Practice of the Year South. The Awards were presented by Recruitment Manager, Luke Arnold.

 

As always, the level of talent of the nominees was exceptionally high, which for winners Hannah Haines, Practice Manager of Inspired Dental and Reginald O’Neill Dental Care (Practice of the Year for the South) made victory even sweeter. The team is proud to have been part of such a distinguished occasion.

 

Dental Elite would also like to congratulate Edd Jones from Hartley Dental Practice and The Care Dental Centre in London for coming highly commended in their respective categories.

 

Dedicated to supporting the profession wherever it can, Dental Elite is thrilled to have been involved with the Dental Awards 2017 – here’s to doing it all again next year!

 

For more information contact Dental Elite. Visit www.dentalelite.co.uk, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01788 545 900

  2064 Hits
2064 Hits
MAY
02
0

Practices Sales According to Jamal Johnston

Practices Sales According to Jamal Johnston

 

When Jamal Johnston sold his practice, he utilised the services of Dental Elite.

“I am very happy with the outcome of the transaction,” he commented when asked about the process, “and though it took slightly longer than expected, it still only took nine months.

“During the sale my representative was Leah Turner, who was very proactive and worked closely with me throughout the process.”

When asked about the challenges that he faced, he said:

“Without a doubt the most challenging part of the sale was due diligence. Had everything gone smoothly the deal could have been completed far sooner than it did, but because there were a few hiccups, the process was dragged out longer than it needed to be.

“My advice would therefore be to make all the necessary preparations and to start collecting and organising the documentation required for the due diligence aspect of the sale, even before you consider putting it on the market.”

There are a great many facets to selling a dental practice, so to ensure that you’ve got everything covered, make sure you utilise the services of a reputable practice sales and valuations agency like Dental Elite.

 

For more information contact Dental Elite. Visit www.dentalelite.co.uk, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01788 545 900

  1954 Hits
1954 Hits
MAR
01
0

Nothing But Praise

Nothing But Praise

 

 

When Henry and Jane McFarlane sold their practice in Burnham-on-Crouch, they decided to utilise the services of Dental Elite. When asked about it, Henry commented:

“Having gone to one of their lectures, I knew what documents were needed to complete due diligence. As such, we made sure that 95 per cent of the paperwork was ready before the practice even went on the market – and I would strongly advise others to do the same. We were in contact with Leah Turner, our representative for some years before we went to market; she helped us enormously in maximising the value of our practice.

“Leah was more than helpful with all the paperwork and was very positive, which is exactly what we needed in such a stressful situation.

“Helen, one of Dental Elite’s administrative staff, was also amazing. If we ever needed anything she would sort it immediately, and was great at problem solving quickly and efficiently – we really have got nothing but praise for the team.”

To view Henry and Jane’s interview in full, go online today.

 

For more information contact Dental Elite. Visit www.dentalelite.co.uk, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01788 545 900

  2337 Hits
2337 Hits
JAN
04

What Goes Into Candidate Screening? Luke Arnold

What Goes Into Candidate Screening? Luke Arnold

 

 

If you are looking to maximise your chances of success when applying for a role, it can pay to prepare for candidate screening. The only way to do that is to know what goes into it.

 

To help with screening, employers often use an initial checklist that can be used to quickly and efficiently establish whether an applicant is a suitable candidate or not. On that list will be a number of desired skills that the prospective employee must have in order to advance to the next round – these typically include the necessary qualifications, accreditations and registrations. They will also be looking out for candidates that have previous experience.

 

Once the employer has established which candidates satisfy all the requirements, they will examine personal qualities. If it goes down to the wire and two applicants are on an even playing field in terms of qualifications and experience, these attributes could be the deciding factor between who is selected to fulfil the position.

 

However, it is important to remember that no two prospective employers are the same, so there will always be variety in what practices are looking for during their screening process. Some companies, for instance, are very relaxed and will consider interviewing anyone that applies, while others are very selective. Some employers might even choose to conduct phone interviews either in place of interviewing or in addition to, though this typically depends on whether the vacancy is for a permanent or locum position.

 

Bearing all this in mind, there are a number of preparations that you can make to boost your chances of success during the screening process.

 

  • Having a good curriculum vitae is the biggest foot in the door, so it is crucial that you spend adequate time ensuring that all the necessary information is included in a clear and concise fashion.

 

  • You must also be sure that you have researched the company and the role thoroughly – and when you’ve done that, research some more. The more prepared you are, the higher up on their list you’ll be.

 

  • About 80 per cent of employers will search for an applicant on Facebook, Twitter and LinkedIn, so whatever you put online, make sure it’s appropriate.

 

  • Draw on your peers’ experiences for insight and top tips.

 

  • Follow up on your application to confirm that it was received – it will show that you’re proactive and enthusiastic about the role.

 

  • Contact the employer post interview thanking them for their time to help keep your name at the forefront of their mind.

 

  • Employ the services of a specialist recruitment agency like Dental Elite for expert advice, support and to act as an intermediary between yourself and the employer.

 

Altogether, there are a great many factors that are taken into consideration by an employer during the recruitment process, all of which not only help to ensure that the right candidate gets the job, but also to streamline the process for everyone involved. To ensure that you meet the criteria and pass the screening process, take the appropriate steps to prepare today.

 

For more information on Dental Elite visit www.dentalelite.co.uk, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01788 545 900

 

  2042 Hits
2042 Hits
SEP
07
0

Dental Elite Announces New Membership

Dental Elite Announces New Membership

Dental Elite is pleased to announce that it has been awarded membership to the National Association of Commercial Finance Brokers (NACFB).

Having gone through a rigorous process, Dental Elite is now a member of the UK’s trade body for business finance brokers – an accolade that only a few other companies within the dental sector can boast.

With this associateship, Dental Elite can continue to offer its clients an excellent service with the additional support of the NACFB, which exists to safeguard both its members and their clients against fraud and restrictive practices.

Its aim as one of the largest agencies in dental recruitment, finance, valuations, acquisitions and sales is to ensure that its clients receive a transparent, impartial and ethical service that ensures the optimum outcome is achieved.

For more information, contact the team today.

 

For more information contact DE Finance. Visit www.dentalelite.co.uk, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01788 545 900

  2315 Hits
2315 Hits
JUN
20
0

Dental Elite Supports LDCs for 4th Year Running

Dental Elite Supports LDCs for 4th Year Running

To show its dedication to the industry, Dental Elite recently pledged its support to the Annual Conference of Local Dental Committees 2016 for the fourth consecutive year.

As Gold Sponsor of the event, the leading practice sales agency was proud to be able to offer its knowledge and services to dental professionals debating about the wider issues of dentistry, having already acted for a large number of the attending delegates successfully in the past.

If you missed Dental Elite at the conference, don't worry – the team will be exhibiting at various top calendar events and supporting more local LDC meetings and study groups throughout the next year.

If you are interested in receiving support for your event, contact the team today.

 

For more information contact Dental Elite. Visit www.dentalelite.co.uk, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01788 545 900

  3125 Hits
3125 Hits
MAY
11
0

“Definitely Recommend”

“Definitely Recommend”

 

Emma Watkins was recently placed into Portman Healthcare in Faringdon, Oxfordshire as a Dental Receptionist.

Although her use of a recruitment agency was entirely accidental, she had nothing but positive words when asked about her experience. She said:

“While it did come as a bit of a surprise that I had inadvertently used a recruiter, I did find it very useful having someone I could discuss the position with –especially post-interview when I was keen to find out how it had gone.

“What’s more, I enjoyed the fact that I was able to distance myself from the process of arranging the interview and so on with the practice manager.

“Having now used Dental Elite, I wouldn't rule out using a recruitment agency if I was looking to step up the ladder.”

Emma also reflected on whether she would recommend an agency to other professions:

“When you’re working full time, job hunting can be a job in itself. Using a recruiter allows you to find a position without having to apply for separate jobs and without having to do any of the work. For that reason, I would definitely recommend an agency to other professionals.”

To find out more about Emma’s experience with Dental Elite, visit the website today.

 

For more information contact Dental Elite. Visit www.dentalelite.co.uk, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01788 545 900

  7514 Hits
7514 Hits
APR
02

What It Means To Have An Orthodontic Contract

What It Means To Have An Orthodontic Contract

 

When it comes to selling a dental practice, no two sales are the same. From variations in goodwill to due diligence to the type of contract in place, each process is unique. The latter in particular can have a huge impact on the overall transaction, especially NHS practices with an orthodontic contract.

There is no doubt that NHS practices are highly sought after and they typically command higher prices than private practices. However, since the implementation of the dental contract reforms in 2013 – in place of the original 2006 framework – the process of selling a practice with an NHS orthodontic contract has become much harder. It is important to note that if you hold an NHS orthodontic contract, you most likely have a PDS agreement – and it is this not so small detail that will affect the way in which your practice is sold.

From PCT to LAT

The difficulty stems from the fact that unlike GDS contracts, a PDS agreement cannot be shared through partnership. When contracts were under management by PCTs the transfer was sometimes viable, as although there was provision for this within the drafting of the PDS agreement, most turned a blind eye to the absence of the relevant clauses, or simply didn’t know the difference! So what’s the alternative? Essentially, there are two possible pathways; you can either sell the assets or incorporate to sell the shares.

Gain Consent From NHS

The first way an orthodontic practice can be sold is though the sale of assets accompanied by a direct transfer of the contract between the seller and the buyer. However, this can only be achieved with permission from the LATs, which requires long and laborious negotiations. It is important to note that as the NHS is under no obligation to accept a proposal to transfer a contract, this is not a guaranteed route. In fact, this is incredibly rare as most are petrified of being challenged under the EU Procurement Regulations.

 

Incorporation

The other option is to incorporate the dental practice into a limited company structure, which means transferring the company’s assets as well as the contract to the limited company. By selling the shares to a buyer, the transfer can then be completed. Although incorporation is certainly a viable option for practices with an orthodontic contact, it is not one that comes without difficulty. Once an initial request has been made an LAT will consider each application individually based on its merits and key criteria. Only an approved application will progress to the next stage of being issued with a new PDS contract in the name of the limited company. As it stands NHS England Policy allows LATs to approve these requests but there are still local politics to deal with, and many try and refuse such applications. They can demand a benefit for the application, with the focus typically placed on how the incorporation will benefit the LAT itself rather than the practice. You guessed it – a price per Unit reduction! Thus, it would be prudent to accept that certain compromises may need to be made in order to incorporate, and later sell, a practice.

Lastly, it is important to note that if a PDS contract is permitted to become a limited company and a practice decides to sell, the LAT must give approval and produce what is known as a Deed of Novation. This is an agreement that transfers one party’s rights and obligations under a contract or agreement to a new third party. But what does this entail? The first section of the document that sellers should be aware of, is that the LAT will require a personal guarantee from the contractor that the contract will meet requirements and perform to the expected standard. Similarly, this is also a lifetime financial guarantee against under-performance – a guarantee that cannot necessarily be swapped to a purchaser at a later stage.

However, because of the way the Deed of Novation is designed, the LAT is not obliged to agree with the sale. Due to the change of control clause, any transference of share holdings of 10% or more must be approved by the LAT. While there would need to be a valid reason for the refusal, it’s an aspect of the process that is important to be aware of, as challenging the refusal is very difficult.

All in all, selling a PDS orthodontic contract is not a straightforward process – but it is not impossible. Seeking the advice of a trusted and experienced agency in this situation, such as Dental Elite, is therefore imperative, and will ensure that you follow the procedure to the letter.

 

For more information on Dental Elite visit www.dentalelite.co.uk, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01788 545 900

 

 

 

  3105 Hits
3105 Hits
MAR
29
0

Dental Elite: “Professional and supportive”

Dental Elite: “Professional and supportive”

 

 

“Whilst at a seminar on ‘selling your practice’, I met Luke Moore, a representative of Dental Elite” says Dr John Campbell who has recently sold two of his practices. 

 

“The valuation was organised promptly, we had a fantastic response and we received the full asking price.

 

“Despite the fact that a deferred consideration was involved pursuant upon contract extensions, Luke’s confident and professional approach eased the process; to date the deferred considerations have been met with no issues.”

 

Naturally, when it came to selling his second practice, Dr Campbell felt that there was really only “one choice of broker.”

 

“Full asking price was once again achieved and this time without a deferred consideration, despite only one year remaining of the contract!” John adds. “I think that this is testament to Dental Elite’s accurate understanding of the dental market.

 

“I would whole heartedly endorse Luke and Dental Elite for their thoroughly professional and supportive approach to selling a dental practice. Selling can be a very stressful event but Dental Elite certainly eased the process! I would without hesitation, recommend Luke and his company to any colleague, and indeed have already done so.”

 

For more information and to find out how Dental Elite can value
and assist your practice sale visit
www.dentalelite.co.uk, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01788 545 900

  6396 Hits
6396 Hits
FEB
11
0

Goodwill Guidance

Goodwill Guidance

 

Looking to buy a dental practice? Don't forget to consider the effect intangible values such as customer base, rapport and employee relations will have on the goodwill premiums that might be incurred.

As the market becomes increasingly more aggressive and competitive with practices in high demand, goodwill premiums are growing in occurrence and increasing in magnitude. This will affect the amount that you will have to pay on top of the valuation price.

With over 100 combined years’ of experience and expertise, the team at Dental Elite are committed to providing financial advice to those looking for a smooth and hassle-free acquisition.

Knowledgeable and attuned to current trends, Dental Elite offers a person-centred single point of contact service to ensure you don't go over budget and get out of your depth.

Don't get caught out with goodwill premiums; contact Dental Elite today.

 

For more information contact Dental Elite. Visit www.dentalelite.co.uk, email This email address is being protected from spambots. You need JavaScript enabled to view it. or call 01788 545 900

  2616 Hits
2616 Hits

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