Looking for the Right Balance between Dentist as Manager and Dentist as Care Provider.

In the quest to understand the implications of separating management and treatment, we must first examine the forces driving management decisions. By defining ownership and equity interest, we are able to isolate a critical factor in the decision-making process. Evaluating the spectrum of the different models of dentistry gives us insight into potential advantages as well as disadvantages that can arise. In private practice, an owner typically wants to see the business grow over a lifetime, while, on the other end of the spectrum, corporate dental companies may be prioritizing dividends, investment returns through speedy packaged sales, or other means of reporting progress to investors. Interestingly, each model of dentistry has shown strength and growth, but there is no clear path to what is deemed ideal.

A regional survey of dentists' preferences for hiring a dental associate.

BACKGROUND: For many new dental school graduates, working as an associate may be an attractive option. To provide practical information for new job-seeking dentists, the authors conducted a survey to assess dentists' preferences with regard to hiring an associate. METHODS: The authors mailed surveys to a random sample of 3,875 general dentists in four states that asked questions about the characteristics they preferred when hiring an associate. Five hundred seventy-four dentists (14.8 percent) responded to the survey. RESULTS: The results of this survey showed a wide variation in the characteristics dentists prefer when hiring an associate, but interpersonal skills appear to be at least as important as technical skills for new dentists' success. CONCLUSIONS: Opportunities for associate positions appear to be available to new dentists who have a range of skills, experience and training. Practical Implications. These results provide new dentists with information regarding the variety of career opportunities available for associates.

Evaluating a dental practice for purchase or associateship.

Private dental practice can be achieved through either outright ownership or an associateship in conjunction with senior dentists; the decision depends on personal and professional objectives and goals. Once a decision is made, the time and effort required to identify an appropriate practice, negotiate the terms of purchase or associateship, and transition to the new practice can be daunting. This article reviews the process and provides an overview of the general steps involved in the evaluation of a dental practice for purchase or associateship. With appropriate knowledge and preparation, due diligence, and ethical and sensitive behavior, transitioning to private practice can be successful and lead to professional and personal fulfillment.

How to plan a successful associateship and practice transition.

Once doctors decide to plan and form an associateship, the general process of advertising, recruiting, interviewing, and accepting an associate is important. Here we illustrate the process in three phases. We concluded that not only must the doctors be willing to devote a great deal of time and effort to building the practice but even greater time and effort into building and nurturing the associateship.

Sharing the burden.

Expense sharing arrangements are extremely beneficial to dentists and not just in a financial sense. They can be easy to organise and administer, but must be based on a proper written legal agreement.

The keys to successful associateships.

When a practice is running at a high volume and stress is increasing, dentists often feel that it might be time to add an associate. This can be a good decision if the practice has the right data-driven systems in place. Conversely, if the scheduling system is inefficient and not managed properly, adding an associate will only increase the practice stress levels. Once the right systems are in place, hiring an associate still requires excellent communication and training skills on the part of the dentist.

Goodwill--what is it worth in the market?

This paper discusses the intangible asset that dentists refer to as practice goodwill. How is the market value of practice goodwill estimated? After defining goodwill in economic terms, a formula is given that dentists can use to estimate and negotiate the price of goodwill. Guidelines are suggested that indicate how the formula can best be used. Some general market conditions that can affect the price of goodwill in a particular area are discussed.

Partnership is a three-step process.

BACKGROUND: Many dentists would like to bring in a future partner but are reluctant to do so for various reasons. The author outlines a three-step process toward achieving a successful partnership: the employment phase, in which an associate is introduced to and integrated into the practice; the at-risk associateship phase, in which the new doctor begins to assume financial responsibility for his or her portion of the practice; and the partnership phase, in which the partners achieve their full function as a team. CONCLUSIONS AND PRACTICE IMPLICATIONS: There will be challenges in any partnership. Regular meetings, division of responsibility and open, nonjudgmental communication will diffuse the problems encountered in day-to-day practice and will ensure that the partners enjoy a rewarding relationship for many years to come.

Successful associateship agreements.

When evaluating potential associateship agreements, dentists need to recognize and understand how status, noncompete clauses, scheduling and compensation affect the strength of an associateship agreement. Dentists should not enter an associateship agreement without fully understanding the agreement and its obligations or without the help of an accountant and an attorney.

Associateships, partnerships, buying, and selling. Strategies for established practitioners and new dentists.

Associateships, partnerships, and buying-selling practices are the current trend among new and established practitioners. The method for fulfilling these objectives is addressed in this article.

A study of the career development of male and female dental practitioners.

AIM: The aim of the study was to determine differences between male and female dental practitioners in the positions they occupy within their employment, and to analyse the correlates of such differences. METHOD: Postal questionnaire survey of a 1 in 10 sample of individuals taken from the General Dental Council register. RESULTS: Female dental practitioners occupy lower positions in the employment hierarchies of the Community Dental Service and the Hospital Dental Service. Women general dental practitioners are significantly less likely to be sole proprietor of, or a partner in, a general practice. Ownership of a general practice is related to: sex, age, number of years qualified, number of children, and hours worked. Consultants in the Hospital Dental Service are more likely to be male, older, to have been qualified longer and (obviously) to hold more additional qualifications than their non-consultant colleagues. Senior Dental Officers and Directors of the Community Dental Service are more likely to be male, work longer hours and (again obviously) to hold more additional qualifications than Community Dental Officers. CONCLUSIONS: Differences exist between male and female dental practitioners in the positions they occupy within employment hierarchies. Age, length of time since qualification and the acquisition of additional qualifications are consistently found to differentiate dental practitioners' status.

When is the best time to hire an associate?

Hiring an associate is a natural step in the growth of a dental practice. However, it is a choice not to be made lightly or based on vague perceptions and expectations. A dentist wishing to bring another dentist into the practice needs to consider concerns such as the business of the operative schedule, personal and professional wishes in regard to sharing the workload, and how future practice growth or retirement will impact the choice of an assistant.