This episode explores the ins and outs of starting or acquiring a dental practice, with a focus on financing options, macroeconomic trends, and strategic advice for new dentists. Our guest, Joe Persichetti, the head of healthcare banking at US Bank, shares insights on loan qualification, real estate decisions, and the future outlook of the dental industry.
About Joe: In July 2023, Joe Persichetti was named head of healthcare business banking at U.S. Bank, overseeing a team that works with small-to-midsized healthcare practices and practice owners. Persichetti has almost 20 years of experience in the healthcare field, previously serving as the head of sales practice finance at Huntington National Bank and holding senior positions at Henry Schein Financial Services and at Bank of America. He lives in Columbus, Ohio, with his wife and four children.
Main Topics:
How student loan debt impacts financing for new dentists
Key criteria for qualifying for practice startup and acquisition loans
The importance of building a strong advisory team (CPA, attorney, industry-specific consultants)
Differences between leasing and owning dental practice real estate
Trends in practice ownership, including startups versus acquisitions and quick starts
Geographic growth hotspots and underserved communities
The changing landscape of DSO versus independent practices
Strategies for practice growth and patient base development
Student loans can be a significant factor; federal programs offer income-based repayment options that can help.
Practice loans are cash flow-based; longer repayment terms (10-15 years) provide more flexibility.
Building a reliable team of industry-aware professionals saves money and sets a solid foundation.
Real estate ownership is feasible with 20% down, but consider long-term location stability.
Growing regions like Columbus and Austin continue to attract dentists due to population growth and infrastructure investments.
Both DSO and independent models can be successful if patient care remains the priority.
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