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P4 - Risk of defective work If you decide to buy a practice, it is worth considering negotiations to cover for the risk of defective work/treatment provided before the purchase took place, by either the dentist selling the practice, or their associates. Some points to consider: ¨What timescale, if any, should be included in the contract fro making a claim. ¨Should the selling dentists be presented with the opportunity to respond to the allegation of defective work/treatment? ¨Should the contract cover complaints by patients only, or also defective work/treatment discovered by the purchaser? ¨How should compensation be calculated and provided? ¨Should the formula to calculate compensation be different forr NHS and private work? ¨The best course of action is usually to raise this point as early on in the negotiations as possible. Ask your solicitor
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"He (Mac) has helped me as my practice has expanded from single-handed to a six surgery/8 dentist practice." "Mac is always available to "pick his brains" and has a solution for any problem!" "He always offers sound independent advice on all financial and taxation affairs in a way that is easy to comprehend and follow." "He has helped me through my early associate days and is now proving invaluable in my journey towards practice ownership." "There is never anything I do in business or personal finance without first consulting Mac." |
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