Passing the Torch
A lifetime of service to patients, family and community should be rewarded with a comfortable retirement and generational wealth. A sailboat might be nice as well. But the transition of your practice should also represent the preservation of trusted patient relationships and philosophy of care.
The Royer team has the resources and expertise to help you develop an optimal exit strategy that aligns your personal wealth management goals with your vision for the future care of your patients and employees.
From understanding the value of your business, to planning a purposeful transition, the Royer team can help write the next chapter in the legacy of your life’s work.
• Business Valuation
A business valuation is the process of determining the economic value of a business. It’s also known as a company valuation. All business areas are analyzed during the valuation process to determine its worth and the value of its departments or units. Royer has the most experienced business valuation team in Maine.
• Production and Fee Analysis
Fee analysis involves evaluating the current pricing structure in accordance with market trends, costs of service delivery, and patient demographics. A well-executed fee analysis can uncover avenues for improvement that not only strengthen financial outcomes but also enhance patient satisfaction.
• Estate Planning
Proper estate planning for dentists is a crucial responsibility and, when done correctly, ensures your dental practice’s longevity. It preserves your legacy, safeguards your loved ones, and maintains patient care continuity.
• Retirement Planning
Dentists have some specific challenges when it comes to retirement planning. One of which is that they have more employees compared to the average medical practice. Royer works with certified wealth advisors who understand your industry and can tailor solutions to meet the individual need.
• Strategic Planning
Integrating your personal and business tax strategy takes careful planning and an understanding of the big picture. Our team will maximize your tax plan by carefully considering the impact your reportable entities have on each other and devising an approach with all factors considered.
• Proactive Financial Planning
Our goal is to help our clients achieve purposeful financial results. The first step is understanding where you are today and where you would like to be tomorrow.
• Transition Strategies
The reward for a successful clinical career should be more than just a comfortable retirement. The Royer Team understands that your philosophy of care is baked into the legacy of your business. We will help you find a successor, not just a buyer.
• Broker Services
Brokers sell businesses. Royer helps grow and transition legacy private practice businesses. Before you call a broker, talk with us to ensure you are “painting the right picture” and maximizing your exposure.