Dental Practice Acquisition & SBA Underwriting Financial Model (Excel + Google Sheets)

The step every other template skips: production is not collections. Revenue is built bottom-up from the two chairs — the dentists and the hygiene recall department — to reach gross production, then bridged to net collections through PPO/insurance write-offs (ADA 2023: 30-40% of billed fees). On the base case the practice bills 2.54M in production but collects only 1.70M — a 67% collection ratio. Pay a multiple of production and you overpay by the entire write-off.

The honesty-killer is the owner-dentist production replacement. The owner is usually a producing dentist; a non-dentist buyer must re-hire that chair at ~30% of collections, on top of a manager salary. The model deducts both to reach Adjusted EBITDA and shows the TRUE DSCR (1.53x) next to the NAIVE broker-style DSCR (2.33x) — the gap is the seller's own production. It includes a 3-part SBA 7(a) capital stack with a full-standby vs amortizing seller-note toggle, a DSCR gate, a lost-associate down-case, three practice profiles, a 5-year P&L, returns and a dashboard. 10 sheets, machine-verified across three engines, Excel and Google Sheets, with a 23-page PDF guide. Educational planning tool, not financial advice.