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General questions
The ideal time is prior to closing, however, in most cases, that is not possible. TAG’s implementation and analysis can be started anytime before or after closing.
Great question! Most office managers have never started a business or transitioned a business, so they do not have the knowledge or skills to perform many of the tasks. In addition, the office manager is already performing a full-time job at the practice. So giving them additional tasks will take away from their daily job; therefore, having significant impacts on the operations.
No. Consultants typically evaluate or analyze your practice and create a list of objectives that YOU need to implement. They do not do any of the work. We are outside experts that do the work, as well as provide training on what needs or can be done in the future. We are dental practice transition specialist.
Yes. TAG’s goal is to accelerate your earning potential. That acceleration can start whenever you are ready. In many cases, the new dentist has not made very many changes since the acquisition.
Some insurance coordinators will know how to complete the paperwork, however, insurance companies are getting very savvy with putting multiple contracts for HMO, PPO and other lower paying plans within the same contract. In most cases, your insurance coordinator would not have the knowledge on how to direct you to sign up for the correct plans. Most insurance coordinators are very good at sending claims and troubleshooting why a claim was not paid, but again, they have never started a company and most likely do not have the experience.
We deliver results, not recommendations!
With a few Internet searches, anyone can find all the advice and recommendations for just about any issue. What’s missing is the skills and expertise to execute.
We offer the skills and expertise to do all the work necessary and partner with the practice in assisting them with learning the details on managing the information moving forward.
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Buyer questions
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We offer a multitude of services for a buyer. We will customize a plan that best suits the needs of the new buyer. Some of the services we offer include getting the business setup with the TAX ID, NPI number, doing business as certificate as well as insurance notification of the sale and much more.
It depends on the size of the practice, the number of participating insurance plans and goals of the new owner. In most cases, the minimum amount of time is 120 days with an average of about 6 months.
The practice may be performing very well, however, with the transition to a new owner, you should expect a drop in production. T.A.G will help you minimize the decrease in production and keep the practice moving in a positive direction.
Most office managers are already performing a full-time job at the practice. Giving them additional tasks will take away from their daily job. Most office managers have never started a business or transitioned a business, so they do not have the knowledge or skills to perform the task.
With the sale of the practice comes “permission” for patients to look for a new dentist. In addition, the new dentist has not built the trust of the existing patients, therefore, treatment acceptance will be lower until trust has been established.
Seller questions
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When you choose T.A.G to sell your practice, you are choosing over 17 years of experience in sales and knowledge of the business of dentistry. Prior to taking a listing, T.A.G will do an analysis to identify any areas where you can increase the opportunity for a higher price, help you implement the opportunities and then list the practice. T.A.G will get your practice Sale-Ready! In addition, we will offer the buyer 30 days of FREE Business Transition Services.
If a buyer is deciding between your practice and another practice, the FREE 30 days of Business Transition Services will set your practice apart from the other. The buyer will feel more comfortable buying a practice if they have business support. Transition Accelera*on Group takes the fear out of owning a practice.
You will need to sign a listing agreement that will give us the authorization to list, market, and show the practice. This agreement can be cancelled at any point during the agreement with a 30 days notice.
Not yet, but we are working on creating business channels to provide a national service. Currently, we provide brokerage services in the Southeast. However, we do offer our Sale-Ready and buyer services in all 50 states.
Yes, because of the many years of consulting we have established relationships with individual doctors and dental service organizations. All of which could potentially be open to anything from a small percentage of ownership, managing affiliated partnerships to a full ownership.
There are several methods for valuing a practice and we will select the right valuing process for you. A general rule of thumb is a percentage based off collections. However, Transition Acceleration Group understands corporate dentistry and what they need and look for. Don’t settle for the standard valuation methods, allow Transition Acceleration Group to evaluate the practice as a whole to gain maximum insight on the true value of your practice.
We encourage both the buyer and the seller to have an attorney. We can help facilitate industry relationships as necessary.
We require all potential buyers to sign a Non Disclosure Agreement and pre-qualify them before we discuss any details about the practice.
Transition Acceleration Group has been implementing, coaching and defining opportunities for growth for over 10 years. We have a large database of single practitioners to large DSO’s that we know personally and professionally. When you list your practice for sale with Transition Acceleration Group, we send data sheets to all of our contacts prior to the practice every being listed in the open market. Majority of our practice listings never reach the open market.
Yes, we offer referral fees to other licensed professionals that are the procuring cause of the sale. We cannot however offer the referral fee to any non-licensed individuals.
Yes. We have extensive experience in commercial property sales and leases. We are licensed in several states that allow us to help you sell or lease your building.
Credentialing questions
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The process of collecting essential data pertaining to medical and dental professionals, such as education, training, location, etc…
From the time the application is submitted 30-120 days.
Credentialing management ensures that vital dentist information is correct and kept up to date on all platforms.
This is the process of requesting participation as a provider to an insurance company.
A credentialing database that will allow insurance companies to have accurate information through keeping your profile up to date.
By keeping an updated CAQH profile, this will allow a more efficient process for insurance companies to access provider information once the permission is granted.
Payers will needs to be notified of any changes such as demographic, Tax I.D, NPI 2, to maintain the current and correct status.
This depends on the insurance company / payer. Some will allow you to have multiple status’ while others will only allow one.
Management questions
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We are more of an implementation group than a consulting company. Consultants typically evaluate or analyze your practice and create a list of objectives that you need to implement, but they do not do any of the hard work. We do the same evaluation and analysis, but we are outside experts that do the work, as well as provide training on what needs or can be done in the future.
We deliver results, not recommendations®. With a few internet searches, anyone can find advice and recommendations for just about any issue. What’s missing are the skills and expertise to execute the plan. We offer the skills and expertise to do all the work necessary and partner with the practice in assisting them with learning the details on managing the information moving forward.
Usually no, however, travel can be arranged. In most cases we can utilize technology and therefore, no site visit is required.
We can provide services in mostly all areas of management: insurance processing training and followup, collections, answering phones, patient experience training, implementation of medical billing, credentialing, general consulting, employee manuals, and more.