Solo practice is on the decline; group practices and
dentists practicing as employees of service management companies are
increasing. In a recent study by a
reputable practice management company, only 54% of dentists/respondents
practiced alone, a record low. The
predominant group practice has two dentists with an increasing number of
offices combining three or more practitioners.
Group practices allow better competition with the increasing presence of
corporate dentistry. With two or more
practicing dentists, groups can increase days and hours of operation for
patients’ convenience and spread overhead costs among the several producers.
What does this mean for you if you are a solo
practitioner? It means you may be
searching for an associate much sooner than you thought when you began
practice. And, as you begin the search,
you must decide if you want an associate who will evolve into a partner who shares
ownership and management responsibilities of the practice or one who remains an
associate, either an employee or an independent contractor. There is a remarkable difference between the
two. An associate is hired to provide
clinical services, but seeks no ownership and may remain uninvolved in the
management of the practice. Once an associate begins to buy into the
practice, he/she becomes a partner with
financial and management commitment and authority.
While an attorney and an accountant can spell out the
conditions of a contract between two dentists who wish to practice together,
most often it is the interpersonal relationship between the two that will make
or break the arrangement. Senior dentists who contemplate bringing in another
dentist, whether to remain an associate or to become a partner, may wish to
seek the advice of a psychologist to evaluate the following points that are
crucial when practicing with another professional. Evaluation of the attributes of the in-coming
dentist is even more important if a buy-in or buy-out is planned. Analyze these questions:
- Is there satisfactory interpersonal compatibility between the two dentists? Do they have harmonious interests, standards, and humor? Are they equally sensitive to staff members? Respectful of patients? Able to work well with diverse personality types and styles? Will their personalities complement so that there is a peaceful, productive, fulfilling aura in the office?
- Is the level of dominance or aggression of the in-coming dentist acceptable to the senior? Is the young dentist so aggressive that he/she will overpower or alienate the senior? Or, conversely, is the young dentist so passive and unassertive that he/she will be unable or unwilling to keep the practice viable and growing when the older dentist reduces work hours or retires?
- Does the young dentist have a keen sense of integrity? Ethical behavior? Can one rely on his/her word so that, in fact, this practitioner’s promise is as reliable as the conditions listed in a contract? While a contract is necessary, are chances high that both dentists will adhere to the requirements of a contract without a legal battle should a split occur?
- Does the prospective associate/partner have a strong work ethic? Is he/she “hungry”? Is he/she willing to work extended hours, take call, limit time off? If asked, will he/she attend staff meetings or practice management meetings during off hours? A successful dentist knows that when the office door is closed at night, the problems of the practice do not disappear. He/she takes them home, works on their resolution, and constantly plans for future developments of the practice. Will the young dentist be able and willing to work at such a level?
- How does the prospective associate/partner persevere through difficult issues? Solve problems? Cope with stress?
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