Page 24 - GP FALL 2010

THE PRACTICE GIVE-
AWAY…continued from page 22
In Memoriam
(which will most likely be much, much
less than the value you had in mind) and NYSAGD mourns the loss of our dear colleagues who passed this year.
you will have no choice but to accept. Requiescat in pace.

You can’t believe what is happening. You Dr. Sidney Berger
are thinking how ungrateful and conniv- New York, NY
ing the associate is. But realistically, you
must understand the associate’s perspec- NYU 1977
tive. The associate feels that you have
made a fortune all these years off of his Dr. Donald Chiarello
labor. All the associate’s friends, family East Meadow, NY
and advisors have told him that he should NYU 1958
leave you and open a new office. They tell
him you are being selfish and greedy for
trying to sell him the practice instead of Dr. Henry Cramer
just turning the practice over to him after Syracuse, NY
all the service he gave you. In the associ- Case Western Reserve 1944
ate’s mind, he is not conniving or ungrate-
ful; he really believes he is right!
Dr. William Doob
You are totally devastated, feeling Flushing, NY
betrayed and absolutely reeling from the Univ. of Pennsylvania 1937
eye-opening loss of hundreds of thou-
sands of dollars in practice equity that you Dr. Nathan Lewis
were counting on to retire. If you did a
good job saving for retirement, maybe Brooklyn, NY
you overcome this. If not, you may be Ohio State Univ. 1938
forced to practice forever and rebuild a
practice at a time in your life when retire- Dr. Harry Lewner
ment was foremost on your mind. Brooklyn, NY

As previously stated, this scenario hap- Columbia Univ. 1976
pens year after year. It happens to unsus-
pecting doctors as well as those who were Dr. Robert Needle
made aware of the risks beforehand. But Cortlandt Manor, NY
for some reason, no one believes it will NYU 1953
happen to him or her. Would you like a
better scenario for you and your practice?
There is a good way to bring on your “heir Dr. Robert Turner
apparent.” East Syracuse, NY
Tufts Univ. 1969

If you would like more information, please
contact transition consultants, Dr. Berdj Dr. John Young
Feredjian, DDS, FAGD and Katherine Rockaway Park, NY
Feredjian, of Paragon Dental Practice NYU 1954
Transitions at berdj@paragon.us.com.

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www.nysagd.org | Fall 2010 | GP 24