The prohibition on fee splitting by professionals is alive and well in New York. The sale of a dental practice from one dentist to another was found to violate the state’s prohibition against fee splitting because the purchase price was to be paid, in part, based on a percentage of the future revenue of the practice.
Dentistry
Rivkin Radler to Exhibit and Present at Greater Long Island Dental Meeting
By Rivkin Rounds Staff on
Posted in Dentistry
Rivkin Radler’s Dental Practice Counseling Group will be exhibiting and presenting at the Greater Long Island Dental Meeting from April 2-3 at the Melville Hilton. “Practice Transitions for the Practicing Dentist” will be presented by Ben Malerba, Doug Menikheim, Joel Greenberg, Eric Ploumis, and Sean Simensky on Tuesday, April 2 from 6:00 PM to 8:00…
Due Diligence: A Critical Component of any Transaction
Posted in Dentistry
In our previous article, we detailed the role and importance of the letter of intent (LOI) in establishing a framework for selling a dental practice. Now we will discuss the next step in the transaction – performing due diligence.
Due diligence is the process through which each party evaluates the other party(ies) to determine…
Letters of Intent – Negotiating the Framework of Your Transaction
Posted in Dentistry
In our last installment, we discussed some of the initial steps involved in the process of selling a dental practice, including preparing your practice for sale and finding a potential suitor. Specifically, we described ways in which sellers can find potential buyers and work with advisors and brokers to evaluate the best fit. In…
Contemplating Selling Your Practice? Consider These First Steps
Posted in Dentistry, Mergers and Acquisitions
In our last installment, we discussed that the dental services industry has undergone large-scale consolidation in recent years, primarily driven by Dental Services Organizations (DSOs) and private investors. We described what a DSO is and why it is a prevalent vehicle through which private investors are seeking to consolidate the dental services industry. We…
DSO’s Computer Systems Hacked
By Sean Simensky on
Posted in Dentistry, Electronic Health Records
A recent data breach involving the computer systems of Great Expressions Dental Centers (GEDC) compromised the records of more than 500 Michigan patients. GEDC operates almost 350 dental practices in 10 states, including New York, New Jersey and Connecticut, making it one of the largest dental services organizations (DSOs) in the country.
GEDC’s website explains:…
DSOs: An Option Dentists and Dental Practices Should Consider
Posted in Dentistry, Mergers and Acquisitions
As a dental professional, you are likely aware of the surge of consolidation that has been affecting the industry for the last several years, which has mostly been driven by Dental Services Organizations (DSOs). This consolidation has not only created significant financial opportunities for investors, but it has also created additional financial and exit opportunities…
Westchester DA Brings Charges for Unlicensed Dental Practice
By Sean Simensky on
The Westchester District Attorney’s office announced on March 17 that it has charged Cesar Masso, a 78-year-old Queens resident, with illegally practicing dentistry without a license. Masso operated a dental practice in White Plains under the name East Post Dental, performing professional services including extractions, examinations, and delivering anesthetics, and has been charged with three…
Don’t Post Patient Info on Social Media!
By Eric Fader on
I don’t know how to say it any more clearly. Somehow, medical and dental practices continue to get roped into responding to negative patient reviews on Yelp, Google, or elsewhere online, and posting any identifying information about a patient is a HIPAA violation. It’s protected health information (PHI), even if the patient posted something first.
CMS Adds New Billing Code for Dental Surgeries
By Eric Fader on
The American Dental Association (ADA) announced on November 15 that the Centers for Medicare & Medicaid Services (CMS) has agreed to create a new Healthcare Common Procedure Coding System (HCPCS) code G0330 for dental surgeries performed under anesthesia in hospital operating rooms. The new code resulted from an advocacy campaign driven by the ADA, American…