Just as the newly created Wisconsin Dental Association Practice Transitions Committee was being formed and planning its first meeting, we received an invitation from the American Dental Association to participate in a new Business Model Project pilot.
At its initial meeting on May 18, the Practice Transitions Committee received a presentation from ADA Vice President of Member & Client Services Bill Robinson. The committee was extremely impressed and voted to send a resolution recommending that we commit to being a pilot state to the WDA Board of Trustees. Bill gave a presentation to the Board on June 9 and a decision was made to formally commit to be being one of two pilot states.
The objective of the WDA Practice Transitions Committee is to keep private practice dentistry viable by providing tools and resources to buyers and sellers. This will include sharing of information, experience and best practices among member dentists. The new ADA Business Model Project will support WDA’s initiative by building a platform to facilitate communication between practice owners looking for associates and employee dentists and dental students near graduation who are seeking opportunities.
The Business Model Project also includes a revolutionary concept that will have ADA purchase up to 50 dental practices for the purpose of reselling them to new-owner dentists after professional mentoring and practice management coaching. The goal is to sell each practice to a dentist within two years. Initially, during the pilot, two practices will be purchased by ADA and then transitioned to dentists interested in owning their first practice.
In addition, WDA will collaborate with Marquette University School of Dentistry on providing information about practice transitions and ownership to third and fourth year dental students to help encourage these future dentists to consider all their options upon graduation and beyond.
I would like to thank the WDA Practice Transitions Committee for their hard work, creativity and dedication in building this much needed program.
- Dr. Ryan Braden (Lake Geneva), chair
- Dr. Renita Burrell (Milwaukee)
- Dr. Paul Feit (Sturgeon Bay)
- Dr. Chris Hansen (Two Rivers), Boart of Trustees liaison
- Dr. William Lobb, MUSOD dean
- Dr. Nicole Martin (Milwaukee)
- Dr. Tanner McKenna (Sun Prairie)
- Dr. Katie Satula (Hales Corners)
- Dr. Steve Stoll (Menasha)
- Ms. Betsy Krekling, WDA staff liaison
Please watch for more information about the new WDA/ADA practice transitions initiatives and feel free to contact me if you have any questions.
Participating in the first Practice Transitions Committee meeting were Continuing Education & Special Programs Coordinator Betsy Krekling, Marquette University School of Dentistry Dean Bill Lobb (Milwaukee), Dr. Renita Burrell (Wauwatosa), Dr. Katie Satula (Hales Corners), Chair Dr. Ryan Braden (Lake Geneva), Dr. Nicole Martin (Milwaukee), Dr. Ned Murphy (Racine), Dr. Chris Hansen (Two Rivers), Executive Director Mark Paget, Dr. Steve Stoll (Menasha) and Dr. Paul Feit (Sturgeon Bay).
