FINANCIAL RECORDS: FIRST AND FOREMOST
Done
I received all the financial documents I requested.
 
INSURANCE COMPOSITION OF THE DENTAL PRACTICE
Done
I received a complete list of all insurance plans the practice accepts
 
I received a fee schedule for the insurance plans the practice accepts
 
ADVERTISING
Done
I received a copy of all the advertising the selling office utilizes
 
I know the exact cost of all advertising and the related contracts
 
NEW PATIENTS
Done
I know the new patient numbers for the last two years
 
I know where the new patients are coming from
 
PATIENT RECORDS
Done
I examined a representative number of patient charts, and I chose those charts myself
 
I examined the x-rays of those charts compared those with the treatment plan and the progress notes
 
I examined the treatment plans to be certain I could provide that type of dentistry
 
I examined the financial arrangements on the patients whose charts I selected
 
I looked at cities/areas the patients were coming from
 
PATIENT SCHEDULE
Done
I have carefully examined the patient schedule, both for past and future appointments
 
I noticed whether a scheduling system is used, or names are just “thrown” on the page
 
I noticed how long hygiene is booked in advance
 
PATIENTS AND PATIENT COMMUNICATION
Done
I looked at the practice’s website, if any
 
I examined any patient newsletters, or other forms of communication sent to patients
 
FEES/FINANCIAL ARRANGEMENTS
Done
I have received a copy of all the dental practice’s fee schedules
 
I know when the selling dentist last increased his/her fees
 
I have examined the financial arrangement documents and procedures
 
EQUIPMENT
Done
I have an inventory of what exactly is being sold, and what is excluded
 
I know the age of all the dental and office equipment
 
I know what the dental computer software is, its age and whether it has been updated
 
STAFF
Done
I have received information regarding each staff member’s pay, benefits, hours, licenses, length of time with the
practice, probability of staying with the practice
 
I have examined the practice’s personnel manual
 
ACCOUNTS RECEIVABLE
Done
I received a comprehensive accounts receivable report, showing aged money owed
 
I asked whether co-pays and deductibles are routinely collected
 
SELLER ISSUES
Done
I asked whether the seller is a member of any particular group, religion, organization or other entity that
accounts for 10% or more of his/her patients
 
I asked the selling dentists what his/her future plans are and asked whether he/she was willing to warrant and
guarantee all the information he has provided me in the final sales contract, knowing that information is forming
the basis of my decision to buy the practice
 
I asked the seller whether a management consultant has been utilized
 
BUYER ISSUES
Done
I understand that I should hire appropriate professionals to advise me, but that I cannot rely solely on them and
have to use common sense
 
I understand that I must use my own common sense and good judgment
 
I must pay attention to any ‘red flags’ or bad feelings in the pit of my stomach, all the way up to the close date!  
See list of
RED FLAGS
 
I must thoroughly read, understand and agree to everything before I sign it
 
I understand that I should buy a practice that is very close to what I ideally want
 
DUE DILIGENCE CHECKLIST
Bette Robin                                                                                      714-421-4407
Dentist, Attorney, Real Estate Broker                                                                                                                                      
SELECT PRACTICE SERVICES, INC.
17482 Irvine Blvd., Ste. E
Tustin, CA  92780
DrRobin@BetteRobin.com
877-DrRobin
714-421-4407
Call: