No. 1 financial tip for potential dental office buyers, sellers: CDA

Whether purchasing or selling a dental practice, there's one financial tip individuals should always consider, the California Dental Association reported March 21.

Katie Fornelli, senior practice management analyst at CDA Practice Support, and CJ Williams, vice president and regional business development officer at Bank of America Practice Solutions, answered the question, "What is the number one financial tip for potential buyers and sellers?"

The most important financial tip is to "do your homework," the authors wrote.

"Due diligence is an underestimated step in any practice transaction," Ms. Fornelli and Mr. Williams wrote. "Knowing what to look for and what to have prepared will be essential. Most individuals will lean on a professional advisor to analyze the financials; however, the seller and buyer must have a level of understanding as well. It is a powerful learning process that will make each party more knowledgeable."

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