March – Group Practice Accelerator
Polaris Healthcare Partners
We help healthcare entrepreneurs build and exit successful group practices. Clarity. Confidence. Results.
Happy March!?
Spring is upon us, and we're observing a gradual relaxation of tension surrounding M&A activities and capital lending for expansion initiatives. The emerging group practice market is experiencing a reinvigorated focus on operational excellence and streamlining clinic-level efficiencies, marking an exciting shift in strategy. Drawing from insightful discussions in various client strategic planning sessions, we're seeing the growing importance of leveraging marketing metrics to drive new patient inflows, coupled with a proactive recruitment push to fortify teams for upcoming growth phases. We are also encouraging clients on a 'back-to-basics' approach, advocating for a robust cash reserve equivalent to two times monthly operating expenses on the balance sheet, as a safeguard against potential economic uncertainties on the horizon.
Cheers, Perrin?
Are you considering expanding into a group practice? Or looking to accelerate the growth of your current group?
This 6-week virtual course is taught by Polaris Co-Founder, Perrin DesPortes, and is designed for practice owners seeking to enhance their businesses by either expanding with new practices or bolstering the confidence and tactical skills required for the growth of existing groups.
Our Q1 program sold out quickly, and spots for Q2 are limited.?
Dental Economics – Group dental practices looking to exit: Proceed with care
Over the past 18 months, rising lending rates have tempered PE interest in group dental practices. PE firms are renegotiating defaulted loans quietly, and PE-backed credit is dwindling even for successful DSOs. Despite these signs, many dental practices anticipate high valuations and exits. However, we forecast an imminent burst of the bubble for group dental practices expecting significant payouts.
The Top 3 Ways Call Centers Can Revolutionize Group Dental Practices?
The dental industry is evolving fast, demanding swift adaptation from group practice leaders. Adopting call center services is key to streamlining operations and enhancing patient service. Check out our blog on how call centers can revolutionize patient experiences, streamline operations, and boost profitability for group dental practices.
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March Podcast Round Up
Why are we getting so much interest in debt restructuring and credit facilities when lending rates are so high?! Diwakar joins me on the show to dive deep into his prognostication for where rates will be as well as how you should be proactively thinking about your current relationship through the next phase of growth of your business.
The current state of borrowing can be arduous if you're trying to access capital, so maintaining a healthy relationship with your current bank is mission critical. Diwakar joins the podcast to share some stories and insights into some current client challenges and how you can avoid them yourself.
Has "the Bubble Burst" in the M&A markets?! Well, judging from some of your reactions to our recent article in Dental Economics, we may need to share some further insights. What about the business and the industry fundamentals? How did we get "here?" And what about how we should think about the future?
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Many of you recruit based on need and far too many "hope and pray" that you can hold onto your best Associates, but have you really ever stopped to think about what makes them great in the first place? Is it all them...or maybe you do a lot to influence their success. I reference a recent client visit as well as some discussions we're having in the current Catalyst Project class...and I even draw upon a lesson from the Super Bowl.?