Charles Loretto, 5 CE - These classes are intended for members of ISOS
(Three classes in one)
FINANCIAL DECISIONS THE ORTHODONTIST MUST GET RIGHT: Real World Answers to Dentistry’s Tough Financial Questions
COURSE DESCRIPTION: In this content-rich, interactive course, learn proven formulas behind building wealth, tax strategies to improve cash flow, plus the short- and long-term benefits of various investment environments. Also covered: Pension and retirement planning. Learn about current pension laws and advantageous tax strategies to support pension planning, plus where to find the money to fund retirement plans. The course also covers best practices for purchasing or transitioning ownership of a practice, how to work with partners or associates, and how to improve the efficiency of your practice. Using our “real life” case studies, this course helps you determine how your practice compares to similar practices, and evaluate how you’re tracking on the path to financial freedom.
- Determine how to minimize social security taxes, state and federal taxes
- Learn how practice ownership better positions you to accumulate and retain wealth
- Discover the advantages of saving in a tax-deferred environment
- Illuminate the impact setting realistic goals for your business has on your personal financial goals
- Identify the right way and the right time to acquire another office
- Discover the rewards of bringing an associate or partner into the practice when the time is right
- Learn the importance of having a vision when following a personal and business financial plan
2. SUCCESSFUL ORTHODONTIC PARTNERSHIPS: From Associate to Equity Partner
COURSE DESCRIPTION: Course participants will receive a thorough outline of considerations to analyze when contemplating partnerships. Finding a buyer for the practice and getting a fair value are simply two parts of a larger equation. Learn how to position yourself financially to sell a portion or all of the practice and gain a keen understanding of how it all impacts your financial future. Learn what portion of the practice to transition based on both doctor’s average collections. We will also explore the emotional side of the buying and selling process from the perspectives of doctors on both sides.
- Learn the step-by-step process that produces successful, equitable partnerships
- Determine if it makes financial sense to buy in as an associate
- Discover how much income you will have to give up when you bring in a partner
- Pinpoint when to acquire a valuation of the business and what to expect
- Learn how to split the money when procedures and collections amounts differ among providers
3. OWNING YOUR PRACTICE: The Key to Your Financial Future
COURSE DESCRIPTION: We will discuss why this becomes an emotional rather than a business decision for so many, and how massive school debt often obscures the big picture. The course provides a realistic view of ownership versus being an employee. We will weigh the risks, consider debt, and evaluate options associated with opening a practice, entering a partnership, buying an existing practice, or working as a partner in an orthodontic environment. This lecture illuminates the path which a new orthodontist should take which leads to long-term personal and financial success.
- Understand how much an owner profits from having an associate
- Gain realistic expectations for ownership through case studies
- Learn how associates are leaving millions on the table when not owning a practice
- Know the key elements before purchasing a practice: location, type of practice, type of transition, price, age of equipment, etc.
- Hear a proven plan to efficiently create opportunities for you to find the right practice for you.
Intended Audience: Orthodontists
Sponsored by the Idaho State Orthodontic Society