Jessica Martin here from Martin Management. Today, I’m thrilled to share an insightful conversation with a true leader in the dental industry, Kim McCleskey. With over 30 years of experience in dentistry, Kim’s journey has spanned managing and leading large dental practices, founding her own consulting firm, and now serving as a dental practice transition consultant and broker at Professional Transition Strategies. Her expertise in practice transitions, startups, and leadership coaching makes her a powerhouse in the field.
Kim’s Journey: From Front Office to Industry Leader
Kim’s story began humbly, working one day a week at the front desk of a dental practice. Over time, she discovered a passion for the business side of dentistry—numbers, insurance, and operations. This curiosity grew into an impressive career. Kim managed a thriving practice, helped scale operations to eight locations, and eventually founded True North Dental Solutions. Later, she merged her company with Avitus Dental Management Solutions, further expanding her impact.
Reflecting on her journey, Kim shared, “The doors opened, and I walked through them. In retrospect, I can see how those early experiences shaped my understanding of practice transitions and scaling.”
The Evolving Landscape of Dental Practice Transitions
Kim offered valuable insights into the shifting dynamics of the dental industry. The rise of consolidation and private equity is reshaping the landscape. “We’re about halfway through consolidation in dentistry,” Kim explained, “and we anticipate it will peak at around 65-70% of the industry.”
For practitioners considering selling their practices, Kim emphasized the importance of acting now. “If you’re thinking about an exit strategy, now is the time to evaluate your options. The financial outcomes for practices selling to DSOs are very different now than they will be toward the end of consolidation.”
However, not all practices will join this wave. Around 30% of dental practices are expected to remain independent, and Kim reassured that opportunities for individual buyers and traditional transitions will persist.
Advice for Dentists Considering Ownership
For those entering ownership for the first time, Kim emphasized preparation. “Ownership is a big step, and it’s crucial to understand the business of dentistry. Surround yourself with the right advisors to help you grasp P&Ls, industry standards, and financial planning.”
Kim also stressed the importance of thinking long-term. Whether pursuing a startup or an acquisition, having a five-year business plan and aligning personal and professional goals is essential.
Planning for the Future
One of Kim’s key takeaways was the need for proactive planning. “The average age of a seller is 45,” she noted, dispelling the myth that transitions only happen at retirement age. “Every practice owner should have their business evaluated and develop a clear exit strategy. Knowing the value of your practice and preparing it for future transactions ensures you have options when the time comes.”
Kim’s advice extended beyond transitions. She encouraged practitioners to view their practices as investment vehicles, capable of generating generational wealth.
Leadership and Empowerment: The 3Es
Kim shared her leadership philosophy, developed over decades of experience: Educate, Encourage, Empower. This approach has guided her in supporting teams, navigating emotionally charged transactions, and fostering success for both buyers and sellers.
“It’s about being of service,” Kim reflected. “When you focus on educating, encouraging, and empowering others, everything comes together.”
Kim’s dedication to helping dental professionals succeed is inspiring. Her insights into the evolving dental industry, paired with her compassionate leadership, make her a trusted guide for anyone navigating the complex world of practice transitions. Thank you, Kim, for sharing your expertise and wisdom with us today!
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