Case Study: From City Lights to Small-Town Practice: An Oral Surgeon’s Strategic Move

In dentistry, particularly in specialized fields like oral surgery, strategic transitions can significantly affect how a practitioner is able to step away from their practice. In our latest installment of real-life stories from our eBook, “Making the Case for Small-Market Dentistry,” we explore the journey of a budding specialist, Dr. Tim, an oral surgeon who relocated to a small southern town to practice oral surgery. His journey highlights the importance of long-term thinking, comprehensive financial planning and community integration when it comes to building a small-town specialty practice.

Challenge: An oral surgeon’s transition to small-town life

Dr. Tim was living in a metropolitan city following dental school. He became aware of a promising opportunity in a small town not too far away, when one of the town’s three existing oral surgeons decided to retire. This wasn’t merely a transaction; it was a comprehensive package deal that included both the specialty dental practice and the real estate — a total investment of over $950,000, with the building valued at approximately $600,000.

When deciding to move from a central metropolitan area into a smaller town (the small town had roughly 80,000 residents), Dr. Tim faced uncertainties, especially since he would be practicing with two established competitors in the area. With a looming debt of $1.5 million resting on his shoulders should he choose to purchase the practice; Dr. Tim ultimately decided the risk was worth the reward and he confronted his fears of relocating to a community with no prior connections.

Solution: Guidance on ownership transition and comprehensive financial planning

Dr. Tim became aware of Aprio’s Dental team and reached out for help. Through Aprio’s collaborative approach to strategic planning and transition solutions, Dr. Tim overcame these challenges. Dr. Tim enlisted Aprio’s Dental Practice Transitions team for help with developing a transition readiness plan and financing to acquire the oral surgery practice. Dr. Tim focused on involving himself in the community and providing exceptional patient care, quickly becoming the leading oral surgeon in town. He also achieved the remarkable feat of paying off his practice loan in just three years, thanks to the dental-specific financing plan Aprio helped connect him with. Dr. Tim’s success is a testament to his business acumen and embracing the small-town community.

Outcome: A success story in oral surgery practice acquisition

As a specialist, Dr. Tim works off of referrals from other general dentists. He prioritized learning about the community, who the patients were, and how best to care for them – through meeting with colleagues and building that trust and presence to allow his practice to flourish. His revenue had grown consistently to around $2 million, emphasizing the significant growth he achieved through his hard work and Aprio’s guidance. Aprio continued working with Dr. Tim as he grew in his economic goals, both near-term and far.

Dr. Tim’s journey highlights the value of taking a leap of faith to a new environment, partnered with working with a financial partner with proven, comprehensive proficiency in the dental industry. At Aprio, we had the privilege of supporting Dr. Tim as he navigated his new financial landscape. Our focus on tax and wealth planning enabled us to offer tailored advice, assuring he was equipped for continued success.

What’s next?

Aprio’s Dental team is committed to empowering clients like Dr. Tim by providing them with insights and tools necessary for informed decision-making regarding their business and financial futures.

Whether you are preparing for a transition or simply managing the ups and downs of practice ownership, it is essential to have a well-rounded financial strategy. Aprio is here to help you get started — schedule a consultation with our team today.