You may have heard that entering into a dental partnership is like entering into a marriage. Unfortunately, it is not… It is harder. Both are gigantic commitments that change the course of ones life. They both require trust, respect, and communication. They both require a same philospohy on spending and saving money. The truth, however,…
In California, practicing as a professional California dental corporation may bestow you with many benefits over practicing as a sole proprietor or dental partnership. Formed under the Moscone-Knox Professional Corporation Act, a professional dental corporation in California is entitled to render dental services that are pursuant to a license, certification, or registration authorized by the…
10 Dental Office Lease Negotiation Points: Term: Generally speaking, you will want to negotiate a dental office lease term between 5-15 years (including options to renew). Options to Renew: In order to get an acceptable term, start with a base term and request options to renew. Type of Lease: There are three major types of…
Upcoming FLSA Changes: Impact on Dental Practices in California On December 1, 2016, an update to the federal Fair Labor Standards Act (FLSA) comes into effect, and it has the potential to change whom in your dental practice is eligible for overtime pay. State overtime salary thresholds are also set to change in the coming…
Are you considering opening a dental office in California? If so, congratulations, and welcome to the world of private enterprise. Although you may find it difficult to believe right now, you will soon be wearing two hats: those of medical professional and business whiz. The steps you take today can spell the success or failure of…
While the vast majority of dentists practice independently, that number is shrinking. Increasingly, dentists are contracting with Dental Support Organizations (DSO), Dental Management Support Organization (DMSO) or Management Support Organizations (MSOs), to handle the business of the practice while dentists focus on clinical aspects of patient care. This relatively new phenomenon has led to an…
Who needs a buy-sell agreement? Entering a business partnership is something like a marriage. While it’s not often preceded by romance, starting a company is a largely financial arrangement where partners share benefits and risks. In the event one partner is unable or unwilling to continue with the business, a buy sell agreement sets out…
As a doctor or a dentist, are you currently thinking of partnering with at least one other member of your profession? If so, you’re not alone. As many as one out of every five new dentists, for example, eschew the thought of private practice and choose instead to enter into group medicine directly out of…
General Partnerships in California The California general partnership is the default entity formed when two individuals carry on a business activity for intended commercial gains and with the intent to share profits and losses. California general partnerships are one of the several common forms of business ownership and have a lot in common with sole-proprietorship. There…
While patients themselves may applaud the protection they now receive through 1996’s Health Insurance Portability and Accountability Act, the 2003 addition of HIPAA’s Privacy Rule has resulted in headaches for many of the doctors and dentists who treat them. While paper-based practices and those that transmit their patients’ health and billing data only by telephone…
