Ukraine: Legal Forms for Private Practice in Oral Surgery and Dentistry

Abstract

During the last 30 years of Ukrainian independence the private dental businesses are flourishing what is a very good sign not only for patients and dental professionals, but also for economy. As of January 1, 2019, 4,584 privately owned dental institutions were registered Ukraine. Among them, 669 were dental clinics and 3,915 – dental offices.1 Generally, dental care in Ukraine (as of January 1, 2019) was provided by 25,651 dentists of six specialties.1 According to these 2019 data, we can hypostatize that every sixth dentist in Ukraine is an owner of a private clinic/office.1 Moreover, as of January 1, 2021, the number of private dental practices for the first time in history of this country increased to 5,084 (ie, showed a 8.72 percent growth during a 2019 to 2021 period).

One Million Dollar Private Practice

“…3 So, if the name of the practice is the doctor's one, the practice value may be less in these situations. 2 Such conclusion is supported by the evidence that 40% of patients leave a practice once the doctor with the branded name is gone. 2 Palmerino (January 2018) emphasized 4 things the practice owner should know when thinking of selling the dental practice: (1) start early (because a selling process typically takes years), (2) to have realistic expectations about what the practice is worth (do not have an inflated view), (3) keep essential equipment and facilities up to date, and (4) to understand that sale doesn't always mark the end of the road (in some cases the buyers can motivate previous owner to continue doing practice 1 year after the deal).…”

“…2 Such conclusion is supported by the evidence that 40% of patients leave a practice once the doctor with the branded name is gone. 2 Palmerino (January 2018) emphasized 4 things the practice owner should know when thinking of selling the dental practice: (1) start early (because a selling process typically takes years), (2) to have realistic expectations about what the practice is worth (do not have an inflated view), (3) keep essential equipment and facilities up to date, and (4) to understand that sale doesn't always mark the end of the road (in some cases the buyers can motivate previous owner to continue doing practice 1 year after the deal). 4 Goldsmith in July 2018 described 5 ways to maximize return on investment (ROI) when selling the dental practice: (1) to avoid doctor`s name is a clinic title, (2) build a strong structure, (3) systems keep things organized (buyers avoid purchasing of disorganized practice), (4) handling the owner's paycheck, (5) keep a sharp eye on expenses and profits.…”

“…And due to that reason, if the founder of the private clinic wants to have the option in future to sell the business he/she should register the business in a form of Limited Liability Company (tovarystvo z obmezhenoiu vidpovidalnistiu [in Ukrainian]) or Private Enterprise (pryvatne pidpryiemstvo [in Ukrainian]). 2 Another key for the success practice sell is to avoid the doctor`s name in a clinic`s name (Goldsmith, 2018). 3 So, if the name of the practice is the doctor's one, the practice value may be less in these situations.…”