Do Your Financial Due Diligence

  • Saturday 1/29/2022
  • Time: 11:00 am - 12:00 pm
  • Course Code: 658SL
  • Cost: No Charge
  • Room Location: BCEC Room 258 B
  • Credits: 1 CE Hour
Andrew Schwartz, CPA is founder and managing partner of Schwartz & Schwartz, PC, in Woburn, MA. Andrew is also the founder of CPA Niche and The MDTAXES Network, a national association of CPAs that specialize in the healthcare profession. He is a member of the Massachusetts Society of CPAs (MSCPA) and the American Institute of CPAs (AICPA). Andrew was selected as a multi-year winner of Boston Magazine's "Five-Star Wealth Manager - Best in Client Satisfaction" award.

When presented with an opportunity to purchase a practice, a dentist can be overwhelmed trying to evaluate the volume of practice data available to determine whether to move forward with the purchase. In this course, the instructor will help you better understand what it means to “Do Your Financial Due Diligence”. Attendees will learn how to evaluate financial data in several practice management areas, such as collections and overhead, productivity, staff compensation, standard fee schedule, and projected “after-tax, after debt-service cash flow”. The instructor will discuss practice management averages, metrics and benchmarks common to practices in the area. Attendees will review real world examples of how this information can be utilized as part of the due diligence process and help put the practice opportunity into perspective compared to other practices. This course is also valuable for sellers so they can learn which aspects of their practices the buyers will be evaluating when the time to sell their practices arrives.

After this course attendees will be able to:
  • Understand the overhead for dental practices in the area
  • List eleven productivity metrics that can help pinpoint opportunities and pitfalls
  • Compare your practice management numbers with similar practices
  • Develop confidence in analyzing and understanding practice management data when presented with an opportunity to purchase a practice
  • Recognize key attributes of a target practice that provide the best opportunities for a buyer
  • Identify what to look for during the Due Diligence process when your LOI (Letter of Intent) is accepted 
  • Determine how to account for decrease in productivity due to Coronavirus Pandemic
Recommended Audience: Dentist

The Schwartz & Schwartz, CPAs grant has been applied to this course.