The Partnership Opportunity

Transcription

1 The Partnership Opportunity for Practice Principals. It s the perfect professional partnership. You focus on dentistry, we look after the paperwork.

2 In recognition of what you, the Practice Principal, have built with your dental practice, we extend an offer to partner with Dental Corporation.

3 Contents About Us... 2 Our Vision for Growth... 3 Partnership Opportunity... 4 You Focus on Dentistry... 5 Our Offer to You... 6 The Joining Process... 7 FAQs... 8 Next Steps... 9 Page 1

4 About Us How we do business is important to us: Integrity, innovation, collaboration, service commitment and patient care shape our approach. Dental Corporation is the leading provider of dental services and facilities in Australia and New Zealand. Our group is focused on partnering with successful general and specialist dental practices through our unique business approach. Our partnership model allows you, the dentist, to focus on dentistry while our support centre alleviates many of the administrative duties of running a practice. You continue to manage the day-to-day operation of the practice and we work with you to help you to grow your practice and to provide the best patient care. A full list of our practices along with further company information is detailed on our websites: / Business Overview Wholly owned by Bupa, an international healthcare provider. Executive Leadership and Management teams who possess an intricate operational understanding of dental practices and the business of dentistry. A business model that has consistently won acclaim, with a strong focus on practice value, customer relationships, key resources and business support. About Bupa Bupa s purpose is to help people live longer, healthier, happier lives. A leading international healthcare group, Bupa serves 33 million customers in more than 190 countries. Bupa offers personal and company-financed health insurance and medical subscription products, runs hospitals, and provides workplace health services, home healthcare, health assessments and chronic disease management services. Bupa is also a major international provider of nursing and residential care for elderly people. With no shareholders, it invests its profits to provide more and better healthcare and fulfil its purpose. Bupa employs more than 62,000 people, principally in the UK, Australia, Spain, Poland, New Zealand and the USA, as well as Saudi Arabia, Hong Kong, India, Thailand, China and across Latin America. Bupa is one of the largest providers of dental services and facilities in the world, with operations in Australia, New Zealand, United Kingdom, Spain, Hong Kong, Poland and Chile. For more information, visit Page 2

5 Our Vision for Growth We partner with a select group of leading dentists with a proven history of excellence. As market leaders in Australia and New Zealand, we aim to continue to acquire and partner with new dental practices in these locations, as well as expand the operations of our existing practice portfolio. We will continue to partner with practitioners through our successful, award-winning approach, underpinned by our core values and expertise in the operation of dental practices. Growth will continue to come through: Partnering with industry leading Practice Principals. Streamlining back office operations to ensure dentists are able to focus on clinical practice. Continued investment in the growth of practices and facilities. Ongoing training and development for all our Practice Principals and practice staff. Page 3

6 Partnership Opportunity Dentists across all of our regions continue to embrace our partnership model and the benefits it provides them. We promote growth and success in our practices with the provision of expert operational support and the financial incentive that rewards the dental business that you have built. The benefits of our Partnership Model: Our partnership model provides many significant benefits for our Practice Principals. These include: Realising the equity within your practice. We offer a market value based on your current earnings per annum, allowing you to realise the value you have built in your business. We recognise that the key to long term success is ensuring Practice Principals are satisfied professionally, intellectually and financially. Sharing in financial reward as your practice continues to grow. Our partnership model ensures you are financially rewarded for continued growth in the practice s profits. Retaining your clinical independence and management of the day-to-day operation of your practice. With the support of Dental Corporation s dedicated corporate centre team, you have more time to focus on dentistry. We work with you to develop your practice to its greatest potential. Page 4

7 You Focus on Dentistry Dental Care Network As a Dental Corporation partner you will benefit from our consumer brand, Dental Care Network (DCN). DCN is a source of dental education and worldclass programs which attract new and retain existing patients to your practice. Operation Support Your practice is supported operationally by a Practice Development Consultant. Your consultant can offer creative and innovative ways to help you grow your practice and ensure the best patient care. They can assist in building efficiencies, identifying areas of opportunity, recommending best practice strategies and processes and sharing knowledge from across the group. We let our dentists be dentists. We are committed to working with you to support the operations of your practice, allowing you more time to focus on dentistry. Receive a comprehensive range of support services. We provide access to a comprehensive range of support services via our corporate centre team, reducing your administrative tasks. These include: Supplier negotiations that access group buying power Networking, training and development Collaborating with industry leading dentists Operations support Financial reporting Accounts payable and payroll Human resources support Marketing support Information technology support We facilitate networking with peers across our group. Access clinical and business management training. We promote continued professional development and knowledge sharing to assist with the continued growth and efficient management of your practice. Utilise group purchasing power. We have negotiated deals with suppliers that will give you the best value pricing. Page 5

8 Our Offer to You When partnering with Dental Corporation, Practice Principals receive: Initial value: Your practice is assessed as a going concern and our offer to you reflects market leading consideration. Attractive financial structure: Practice Principals are rewarded based on their personal patient collections, in addition to a bonus structure for continuing to oversee the profitable growth of the practice. An attractive financial partnership our success is your success. Expert support: Freedom to manage the practice on a dayto-day basis with our continued support and the backing of our corporate centre team who have comprehensive knowledge of the dental industry. Access to clinical and business management training: Training is available to assist with the continued growth and efficient management of the practice (CPD points may be available). Support services: We provide a comprehensive suite of payroll, accounts payable and financial reporting services to our practices, delivering comprehensive management information on a monthly basis. In addition, consultative support is provided in the areas of information technology, human resources, practice operations, management and marketing as appropriate and/or as requested by the Practice Principals. Page 6

9 The Joining Process We understand that the decision to join Dental Corporation is an important one. Our aim is to make the process as seamless as possible by minimising interruption to your day-to-day practice operations. There are 10 simple steps to joining Dental Corporation: 1. Introductory meeting and site visit. 2. Review of financial data. 3. Valuation and pricing proposal. 4. Heads of Agreement signed (agreement on key commercial terms). 5. Legal documentation prepared and due diligence undertaken. 6. Pre-settlement planning (transition and integration steps). 7. Visit by a Practice Development Consultant. 8. Financial settlement. 9. First day in the group. 10. Post-settlement support (Practice Induction Workshop). Page 7

10 FAQs How long do I continue operating in my practice? Our Practice Principals continue operating their practice on a five year facilities and services agreement with the right to renew at the end of the contract. We take the time to understand your personal situation and seek to build a long term, mutually beneficial relationship with you. What price do I receive for my practice? You receive an attractive valuation based on a multiple of your agreed maintainable practice earnings. What are my operating hours? The hours of your practice remain the same as they are now. Future changes to your operating hours are your decision. What happens to my existing marketing and advertising initiatives? Our expert marketing team is available to assist with your existing marketing strategies and provide guidance on future plans and initiatives. We have a comprehensive range of tried and tested marketing initiatives and we can work with you to develop custom campaigns. Your practice marketing is supported by the group marketing initiatives of Dental Care Network. What happens to my existing staff? We value the great team you have put together to build a successful practice. Your current staff will transfer across to Dental Corporation under the same terms and conditions. Does Dental Corporation look after payroll for staff? Yes, we manage the payroll process for our practices, ensuring staff are paid accurately and appropriate records are kept including pay slips, superannuation and tax office payments. You no longer need to worry about the time-consuming process of paying your staff. How do I get rewarded for personal revenue collected? You receive a percentage of your net revenue collected. Our finance team takes care of calculating and processing your remittance each month. The calculation in respect of your personal net revenue is sent to you for approval prior to processing the monthly remittance. Can I choose my suppliers? Yes, you can still utilise your existing suppliers, most of whom will be available through our online Purchase Portal, where you can purchase a comprehensive range of dental products at discounted prices. We have our practice s best interests in mind and use our group buying power to negotiate deals with suppliers. What training and development is available? We believe and invest in conferences, seminars and events to facilitate learning, networking and camaraderie across the group. What role does Bupa play with Dental Corporation? Dental Corporation has a high degree of autonomy within the Bupa group but we are exploring a range of options to create value from leveraging our large number of practices with Bupa s substantial customer base Page 8

11 Next Steps Submitting the information required to evaluate the practice. Below is the list of information we require to evaluate your practice and provide you with a valuation and pricing proposal. Once you have collated your information, please forward it to one of our Directors listed below who will review the information and get in contact with you. Please don t hesitate to contact them if you have any questions regarding the information requirements and the joining process. Profit and loss Financial (statutory) accounts for the previous financial year. Management accounts for subsequent trading period. Commentary on profit and loss Annual gross revenue by practitioner, including the Practice Principal, Associates/Dentists and Hygienists. Laboratory fees by practitioner for the same period as revenues in point above. Please identify any personal or nonrecurring items of expenditure or purchases of equipment. Staff List of current staff with annual salary and typical expenditure on casual/temp staff. List of Associate Dentists and remuneration agreements with them. Leases Copy of premises lease including rent payable, term and options, rental increase provisions and contributions to outgoings. Submit your information to: Dr Ray Khouri Executive Director M: T: E: rkhouri@dentalcorp.com.au Mark Evans Managing Director M: T: E: mevans@dentalcorp.com.au Page 9

12 Dental Corporation Level 6, 18 Orion Rd Lane Cove West, NSW Australia Practice Principal Partnership Opportunities. For more information contact: Dr Ray Khouri Executive Director M: T: E: rkhouri@dentalcorp.com.au Mark Evans Managing Director M: T: E: mevans@dentalcorp.com.au