Established in 2004, Omni Practice Group specializes in guiding dentists and healthcare professionals through the complex process of buying and selling practices. With a nationwide team of expert consultants operating in 17 states, the company brings deep experience and personalized support to every practice transition.
“What I like about [the field] is that you have to use your right and left brain,” said Rod Johnston, founder and principal broker of Omni Practice Group. “You have to use your left brain to do financial analysis and figure out what each practice is worth and then you have to use your right brain to put creative marketing materials together and do sales.”
“When it comes to running practice, dentists are taught how to treat patients in school, but often not how to run and manage the business,” Johnston said.
“You don’t get any training on HR in school or on how to negotiate a lease or how to fix the toilet if it’s leaking in the bathroom. Those types of questions never come up,” said Johnston, who has an MBA from Seattle University and is a Certified Management Accountant and an Accredited Business Appraiser by the Institute of Business Appraisers.
To help medical professionals with these and other unique business challenges, Omni offers free seminars and webinars on practice management and tips and strategies for making the best business decisions.
Johnston also has advice for recent dental graduates who want to buy a practice one day. He recommends taking a few years to ensure their hand skills are up to speed, their production numbers are good and they’re working to learn the business side of things.
To connect with Omni’s practice management resources, “I suggest they sign up for our monthly newsletter,” said Johnston. Omni’s newsletters include listings, checklists and steps for buying and selling practices, as well as upcoming webinars and seminars.
While advertising listings and providing educational resources are normal for agencies like Omni, what makes them stand apart is their hands-on approach, said Johnston; no singular night was more indicative of Rod’s and Omni’s values than New Year’s Eve 2017.
Johnston had recently worked with a client who needed him to list, finance and sell her practice in under two months. Although this process usually takes well over six months, she needed it done before she embarked on a multi-year mission trip.
After closing the deal in time, Johnston stopped by her office to deliver the signed lease and a closing gift around 7 p.m. on Dec. 31. She was alone with over 750 letters to send to patients, informing them of the sale of the practice and introducing them to their new dentist.
She had a flight to China the next morning, so Johnston helped her address and stuff every envelope — an act of kindness that is second nature to him and a part of the culture at Omni.
Johnston strives to instill a “Nordstrom-like” mindset within the company – with a mission to go above and beyond while helping clients transition to a new career stage.
Omni is involved in the community. Johnston and his colleagues started a Thanksgiving food drive where they feed roughly 300 families each year. They’ve been business partners with the UW School of Dentistry for nine years and counting now.
Omni is deeply committed to community involvement. Each year, Johnston and his team organize a Thanksgiving food drive that provides meals to approximately 300 families in need. Their dedication to service extends beyond philanthropy—they’ve proudly partnered with the UW School of Dentistry for over nine years, fostering a strong and enduring relationship.
“We’re giving back as much as we can,” said Johnston. “We want to support the University of Washington as well as all the other dentists out there and help out in whatever way we can.”
While the process of buying and managing a healthcare practice, or selling one on the verge of retirement, can be daunting, Johnston and his team assure practice owners there’s no reason to be afraid.
“The failure rate for a dental practice is approximately 0.3%,” said Johnston. “You grow equity in your practice as soon as you buy it, which will allow you to retire sooner than an associate who has no equity in the practice.”
“You control your own destiny [when you own your own practice]. Not many practice owners have laid themselves off.”
For more information about Omni Practice Group, visit their website: omni-pg.com.
