Prepared for lenders, CDCs, and federal agencies to SBA SOP 50 10 8, USDA RD Instruction 5001, and conventional underwriting standards. Fiduciary duty runs to the lender and the agency, never the borrower. More than 4,000 studies since 1998 covering $40.2 billion in evaluated project value.
Dental facilities — general practices, pediatric and orthodontic offices, oral-surgery centers, and multi-site DSO locations — are chair-economics businesses: production per operatory, the provider hours that fill the chairs, and a payer mix spanning PPO contracts, fee-for-service, and Medicaid that prices identical procedures very differently. The study sizes patient demand from population-to-dentist ratios in the draw area, models production by operatory against provider capacity, and validates the buildout budget at clinical costs — plumbing, imaging, sterilization — that commodity office space never carries.
Demand from dentist-per-capita gap analysis and competitive census, production modeling per operatory at procedure-mix yields by payer, hygiene-department economics modeled separately as the recurring base, startup ramp from documented new-practice curves, and acquisition analyses tied to verified production history rather than asking-price narratives.
Every Wert-Berater financial model is fully linked with no hardcoded values, so any reviewer can stress any input. Deliverables comprise a complete narrative report and the linked Excel model, with ten-year pro forma, sensitivity analysis at ±5, 10, and 15 percent, interest-rate stress from +0.5 to +3.0 percent, and ratio analysis benchmarked against RMA and IBISWorld data.
SBA engagements are prepared to SOP 50 10 8, including its debt-service-coverage minimums of 1.15x operating and 1.00x global. USDA engagements follow RD Staff Instruction 5001 across the Business & Industry, Community Facilities, REAP, and Value-Added Producer Grant programs. Conventional engagements are built to the lender's stated coverage standard, typically 1.20x. Owner-dentist projects are core SBA territory — practice acquisitions, ground-up buildings, equipment packages; DSO-affiliated expansions route conventional with the management agreement reviewed.
The firm's professional-practice underwriting applies its standard throughput discipline to the operatory: chairs, hours, and yield. Independence is non-negotiable: determinations follow the evidence and are not revised under pressure, and studies are built to pass lender, agency, and third-party review without exception items.
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