So, if you answered yes to the questions, and you want an associate and understand the pros and cons, start interviewing and feel free to reach out to us for help! What are some milestones that you need to reach before bringing on an associate? Given that an associate will probably want a salary that matches current trends, you will probably need to be collecting $750,000 with some growth trends to $1 million.
Your schedule should be booked out consistently by three weeks or more—remember, you will be eating for two soon. You refer out several procedures that could be kept in office. You should have a physical room, or schedule room, to accommodate another person.
You have a way for that associate to get new patients when the time comes. Most associates don’t have the magic skill to produce new patients. And, importantly, you are a realist . . .
As you hit those milestones, write down a list of what you want your perfect associate to be. Remember, human cloning is illegal in the United States, so you probably won’t be able to find an exact copy of yourself.
Your associate will have wants and needs too. A good associate will need a daily guarantee so he or she can pay her bills, rent, and nacho tabs. An associate usually sees new patients and does the most unproductive procedures initially, but you still need to pay the team when the associate is there. And remember, the associate is in a learning phase and cannot treatment plan, execute care, and manage patients as well as you can—you could not either at his or her age.
In conclusion, if you think you want or need an associate, then know your numbers! Generate reports on procedures and monitor referrals closely. Go to some local dental meetings to start interacting with young dentists. Associates can be awesome and last a long time, or they can fail in a few months and cause stress—kind of like dentistry!
Jason Lipscomb, DDS, is a general dentist in Richmond, Virginia. He has three offices and finds time to cohost the wildly popular Dental Hacks podcast. Dr. Lipscomb is also the Virginia representative for the Dental Transitions firm United Dental Brokers of America. This firm, located in Pennsylvania, helps dental buyers and sellers across the country. Your transition questions can be answered by contacting Jason at [email protected].
Paul Goodman, DMD, is a practicing general dentist and managing partner of a two-location group practice in Mercer County, New Jersey. He has a passion for helping dentists as transitions broker for United Dental Brokers of America and through the Facebook group Dental Nachos, which he founded. Dr. Goodman lectures nationally on dental implants, practice management, and practice sales. Share your favorite nacho recipe or contact Dr. Paul at [email protected].
