How to make 50% net profit as a dentist

A client call last night as I spend 7 hours battling north through traffic – client looking at buying a full NHS practice – UDA contract value is £400k and a corporate have offered 115% – cash up front and the partners can walk away (They will find immigrant dentists to do the “work” – see below for a definition of what that work might be).

The real scandal is the existing owners – guys in their early 50’s.

They have sales of £400k (just the NHS work) and Net Profit Before Tax of £200k!

How do they do that?

Lab fees FOR THE YEAR were £4,000.

They are doing hardly any dentistry at all – just endless check ups.

Day in day out – check ups with no treatment.

My client has seen some of their their patients – mouths in a mess.

The Government (PCT) send the cheque and get the tick – the dentist banks the cheque – the patients’ are walking around with rotten teeth and gums in blissful ignorance until something goes badly wrong.

Government-sponsored supervised neglect – absolute scandal.

My client wants to buy the list (the patients) and spend the next 5 years getting all the patients fit after a private conversion – has offered to match the price and they will take his offer “because he is a local dentist” – he gets a goldmine provided he can get the language right around “your last dentist was a criminal but I’m going to sort you out” – this is always a problem because the patients think the world of “old Mr Bloggs who never used to hurt me”.