Selling a Family Practice in Ontario

When contemplating selling a FHO practice, there are many things to take into consideration. Here are some of the key questions and issues you’ll want to consider:

What is Your Practice Worth?

Attaching a value to your practice can sometimes be a difficult task as you may disagree with the market and its estimated worth. Ultimately, its worth depends on how much a buyer is willing to pay, the income generated by your practice month-to-month, and additional offerings that speak to the buyer in question.

Considerations in Your Medical Office Lease

There is so much at stake in the process of selling a family practice; therefore it is imperative that you consider the current obligations of your office lease, specifically the assignment provisions within it. Prior to completing the sale, it’s important to have your lease properly reviewed to ensure that there are no hidden risks, and that the ‘assignment of the lease’ occurs properly, protecting the interests of both parties along the way.

Communication with Your Colleagues

It is important to communicate with your colleagues to ensure that they are aware of the upcoming changes. This is important so you may gain their support along the way with regards to group obligations. When it comes to the MOHLTC, transitioning a healthcare practice has many steps involved. Make this process easier on yourself and look to the professionals for help.
Click here to download the white paper.
Allow Cirrus Consulting Group to help facilitate the sale and optimization of your practice.
Contact us for a complimentary consultation, or call 1.800.459.3413.

Preventive Care Bonus Submissions

Physicians may now submit their Preventive Care Bonus targets attained for the 2016-2017 MOHLTC fiscal year. Submissions are open from April 1st to the September 2017 claims submission cut-off date.
How do I calculate my Preventive Care Bonus threshold?
The goal is to calculate how many of your enrolled patients have received their Preventive Care services within the relevant screening intervals. i.e. * 100%

You must then bill the appropriate billing code that corresponds to the percentage threshold reached in your Preventive Care efforts.
Cirrus Tips to Preventive Care Billing:

Make sure to bill your relevant Preventive Care Bonus code(s) and backdate it to March 31, 2017 to reflect your performance in the 2016-2017 fiscal year.
The MOHLTC Preventive Care Target Population/Service Report (Previous & Projected) was issued in late April 2017. This report can be used to assist you in calculating your target thresholds attained.
Another tool in managing and tracking your Preventive Care in the Colorectal, Cervical and Breast Cancer Screening categories is to sign up for the Screening Activity Report (SAR) by clicking here.

In order to ensure that you have been paid your bonus for the previous fiscal year, you may review your monthly Remittance Advice under the “Preventive Care Bonus Accumulations and Payment” section in the months following submission.

For further assistance or clarification on accurately billing for your Preventive Care Bonus, please do not hesitate to contact your Cirrus Consultant at any time.

Henry Schein Associate Spotlight – Jimmie Hammon, ESS

“Cirrus represented the best interests of the doctor throughout the lease negotiation to ensure that her success was our number one goal.”

Jimmie Hammon, ESS | Henry Schein Boston, MA

Helping Doctors Realize Their Dream Dental Practice

My 14 years of experience as an architect, 6 years as a general contractor/developer building dental offices, and 15 years as a dental equipment consultant have given me a tremendous amount of knowledge in helping doctors realize their dream dental practice. From small remodels to new clinics and professional buildings, the Henry Schein “team approach” to solving dental practice design projects brings together our Henry Schein Dental National Design Department, Business Solutions Consultants, Technical Service Representatives, and contractors in order to achieve perfect results.  We are all on their team as partners of their practice.

Cirrus Has the Best Interest for Your Doctors

The teamwork of Dr. Seliger-Schamberg, Cirrus and myself allowed us to evaluate (3) different potential locations for the location of her practice, Zubi Dental. The open communication allowed us to navigate the various dental office lease proposals and the language within it. With Cirrus’ help, we were able to secure the best location, and negotiate the dental office lease with terms that best fit the needs of Dr. Seliger-Schamberg’s business plan, and long term career goals. Cirrus represented the best interests of the doctor throughout the dental office lease negotiation to ensure that her success was our number one goal, and that the lease terms suited the doctor’s needs for the foundation of the business plan.

– Jimmie Hammon, ESS | Henry Schein Boston, MA

Customer Case Study: Dr. Daniel R., DDS | Ortonville, MI

Dr. Daniel R. is a General Dentist running a successful practice out of Ortonville, MI.

As building-owners of 35 years, Dr. R. and his wife were growing weary of the constant demands involved in maintaining a property and being landlords. They also strived to grow the practice and expand, but were limited by the size and number of treatment rooms available in their 2,400 sq. ft. unit. After much deliberation, Dr. R. and his wife made the difficult decision to sell the building and relocate their practice.

The doctor had narrowed down the search to 3 locations in Clarkson, MI. Unsure of how to negotiate the details of their tenancy with the landlord, Dr. R. and his wife attended a seminar in Troy, MI presented by Cirrus Consulting Group on the topic of “Dental Office Lease Negotiations”. The seminar discussed the top $100,000 traps buried in a lease, and the harsh negative impact they can have on a practice’s future.

With this newfound knowledge, the doctor decided against using the services of his long-time corporate attorney for the negotiation, and instead sought out the expertise of Cirrus and their dental office lease negotiators. Dr. R. and his wife chose a location for their practice and were soon presented with the dental office lease for the space by the new landlord. Dr. R. was looking for the new lease to provide him with the following:

Cirrus conducted a thorough review and analysis of the lease, highlighting critical dates, risks and pitfalls. They uncovered a lack of death and disability protection in the lease, a significant issue for Dr. R. as a late-career dentist. The lease also permitted the landlord to move competing dentists into the building, and collect proceeds […]

Henry Schein Canada Spotlight | Jonathan Hollink, ESS

“Always engage the experts. We build practices. Cirrus ensures those practices have a strong lease agreement with fair and affordable terms.”

Jonathan Hollink, ESS | Henry Schein Ottawa, ON

The Greatest Organization in Dental

I have been in dental for 10 years, the last two with Henry Schein Canada as an Equipment Sales Specialist (ESS). I am proud to work with the best dental professionals in the business, for the greatest organization in dental. The ability to bring value to our clients is what sets us apart from everyone else. Partners like Cirrus Consulting Group illustrate our value, and add commitment to our clients as our combined services allow our doctors to focus on dentistry while we focus on their best interests in the background.

When working with a dentist to open their dream practice, it is essential to have a team of experts to guide them along the path. Cirrus and their team of dental office lease negotiators are the experts at ensuring our dentists obtain the most favourable lease terms for their practice, now and in the future.

Always Engage the Experts

Cirrus worked with us and a dental client on a new deal. It was through the diligence of Cirrus and their lease review process that the doctor walked away from a potential location with an uncompromising landlord. Ensuring lease terms are risk-free and favourable to our clients is the core of their business. As a result, the location shifted from one location to another, and Cirrus continued to fight for the doctor’s goals and vision. Soon, Cirrus worked their “lease review and negotiation magic”, and the doctor is now in a thriving practice, growing at a phenomenal rate, and completely content with the terms of her […]

Henry Schein Dental Spotlight | Jeff Rice, FSC

“Cirrus negotiated the dental office lease agreement on behalf of Dr. Young, and saved him over $40,000 on his 10-year lease agreement. I was then able to take that savings into a meeting with Dr. Young, and won all of his merchandise business. He’s on pace to spend over $200K on merchandise alone this year.”

Jeff Rice, FSC | Henry Schein Charlotte, NC

Truly Special and Dynamic

Jeff Rice here! I’ve been an FSC with Henry Schein Dental for 15 years now. Prior to Schein, I spent over a decade in the music/pharma printing and packaging industry, and worked for a large, multi-national firm. I share that background because it still provides me with valuable perspective on this profession, and our company, Henry Schein. From my experience both outside and inside of dentistry, we are all fortunate to be in a truly special and dynamic industry, and to be a TSM with the world’s #1 dental distribution company. I’m only more convinced of this as time goes on.

Our Consultative Approach is Key to Adding Value

We all face very real challenges every day in the field, many of which are simply an extension of the difficulties our dental customers face. As dentistry continues to evolve and change from clinical to the business side, dentists are faced with a unique combination of challenges and opportunities. Our charge at HSD is to help identify and define both of these for and with our customers, and to offer specific, applicable solutions. As our title “FSC” describes, we believe in being consultative with our customers. It’s what has fundamentally set us apart from our competitors, and Cirrus is a perfect example of our consultative approach and partnership. I found that out with […]

New De-Roster Codes

The MOHLTC has recently announced that they have rolled out three new billing codes that will enable physicians to de-roster patients without having to submit the “Primary Care – Request to Remove a Patient” forms.
What are the De-Roster Codes Implemented?

Q401A – De-Roster – Member Deceased.
Q402A – De-Roster – Ended by Provider.
Q403A – De-Roster – Patient Left Province.

How do we bill the new De-Roster Q Codes?

Ensure the Service Date inputted when billing matches the effective De-roster Date you wish to remove the patient to.

The usual six-month stale dating rule that applies to all claim submissions applies to the De-Roster Q codes.

The De-Roster Q codes may be submitted with a service date of up to six months prior to February 1st, 2017 (therefore August 1st, 2016).
Physicians who have submitted de-roster forms with an end date after August 1st, 2016 and within the 6-month stale-dating period may submit the De-Roster Q codes or wait for their forms to be processed.

Ensure the service date when billing the Q code matches the de-roster date noted on the paper copy of the de-roster form.
Per the MOHLTC, should the de-roster date be greater than 6 months from the date the claims are being billed for submission, then you must contact your Claims Services Branch office and request approval to submit a stale dated claims file for these claims. Approval must be received prior to submitting the stale dated claims file.

Physicians who have submitted de-roster forms with an end date prior to August 1st, 2016 must wait to have their form processed.

Please note that the MOHLTC will continue processing paper de-roster forms until April 1st, 2017 only.

Further information on the MOHLTC changes […]

Customer Case Study: Dr. Gordon S., DVM | Woodstock, GA

Dr. Gordon S. is a late-career veterinarian running a successful animal hospital in Woodstock, GA.

As a busy veterinarian, Dr. S. had not been keeping track of critical dates in his lease agreement such as the lease expiry date, which was vast approaching.

The doctor was invited to attend a CE webinar on the topic of “Negotiating or Renegotiating the Terms and Rent in the Veterinary Office Lease” hosted by Cirrus Consulting Group, the veterinary office lease negotiation experts. At the webinar, the doctor learned about the importance of beginning the lease renewal process 18-24 months in advance of the expiry date in order to bring the landlord to the table with enough leverage and time to secure the best deal. The doctor also learned about many of the inherent risks in lease agreements, and was shocked to learn that many of these pitfalls existed in his current lease.

With the negotiation clock ticking, the doctor retained Cirrus to review his current lease agreement, and negotiate the terms of his renewal.

The doctor communicated to Cirrus that as a late-career veterinarian, he was looking for lease terms that would appeal to future buyers, and enable him to transition profitably and smoothly without being indebted to the practice afterwards. In addition, the doctor believed that the new Property Management company that was hired to manage the shopping center was unfairly charging for rent and Common Area Maintenance (CAM) charges, so this was something he would also want addressed in the negotiations.

Dr. S. was looking for his new lease to provide him with the following:

Cirrus conducted a thorough practice needs analysis and reviewed the lease for critical dates and problematic language. Together they created a lease negotiation strategy and were […]

By | March 15th, 2017 | Case Studies | 0 Comments

Customer Case Study: Dr. Emma M., DDS | Midlothian, VA

Dr. Emma M. is a general dentist in the later stages of her career practicing in Midlothian, VA. After being diagnosed with hand tremors, Dr. M. brought in dental associate Dr. Bill S., and has since begun treating patients for Sleep Apnea at the clinic.

Dr. M’s 28-year lease was rapidly approaching its renewal deadline. As a late career dentist, she was looking to renew her lease with terms that would support her eventual plans to transition out of dentistry. Naturally she considered Dr. S. as a potential buyer; however, she was unsure the timing was right as he was a fairly new associate.

Being cognizant of her eventual transition plans, she was looking to renew the lease agreement with terms that would spark the interest of potential buyers. She was looking for a shorter term, ideally 5 years, with options to renew to ensure the long-time viability for her successor.

After attending a dental office lease negotiation and commercial real estate seminar hosted by Cirrus Consulting Group, Dr. M. retained Cirrus for help with her upcoming lease renewal.

“I had no idea the ramifications that some of the clauses could have. I signed my old lease 28 years ago but was very young and not very bright when it came to lease agreements. Now that I am older and wiser, I felt it was necessary to hire Cirrus to re-write my lease and negotiate terms that I felt were fair and could live with.”

– Dr. Emma M., DDS, Midlothian, VA

She was looking for the following key wins in her renewed lease:

Cirrus Consulting Group guided Dr. M. through their strategic lease negotiation process and achieved the
following key wins:

Dr. M. now has peace-of-mind knowing her lease is set up for a […]

By | March 15th, 2017 | Case Studies | 0 Comments

Henry Schein Dental Spotlight | Jeff Trachtenberg, FSC

“My relationship with Dr. Phadnis could not be stronger now and she has thanked me too many times to count! Ask your doctors for a copy of their lease agreement, and have Cirrus make you ‘SCHEIN’.”

– Jeff Trachtenberg, FSC | Henry Schein Wallingford, CT

Continued Learning

I have worked in the dental field for nearly 25 years, 17 of which was for Henry Schein Dental (HSD). I started my career at HSD as a Regional Manager and managed the CT region for 11 years. I transitioned to a Field Sales Consultant (FSC) over 6 years ago. Being a Regional Manager prior to becoming an FSC gave me the opportunity to work closely with some of the top-producing FSCs. I took so much away from them, and really engrossed myself in what made them successful.

Cirrus was Instrumental in Securing a Healthy Lease Agreement

I have been promoting Cirrus Consulting Group for the past couple of years. Cirrus has performed dozens of dental office lease reviews over the phone for my clients, and most recently I brought 6 doctors to one of their local CE seminars about “How to Negotiate the Terms and Rent in the Dental Office Lease”. I successfully referred two dental offices to Cirrus last year, with more to follow.

One particular case is Dr. Ukti Phadnis who opened a dental practice from scratch. She was extremely overwhelmed with the process because the landlord of the chosen location had provided her with a lease agreement she felt was very unfair to her. Of the many pitfalls/risks in the lease, she was being overcharged for the common area maintenance (CAM) fees with no explanation to what she was really being charged for, and, she had no […]