Contracts for Practice Success | Dental economy
It has been 18 years since I graduated from dental school. One thing no one told me was that I was about to embark on a life of contracts: residency, associate contracts, banking agreements, purchase and sale agreements, rental agreements. , service provider agreements, employee contracts, insurance; the list seems endless!
Last month, many new dentists graduated from dental school and are looking for their first associate position. Although this is an exciting and crucial time in a young dentist‘s career, it can be stressful. After all, everyone hopes their first associate position will turn into a long-term dental home, but sadly, that’s not a reality for most. Although many early associate positions are ending, it is essential that young dentists seek out a position that will ideally provide them with mentorship as well as clinical and practice management experience. In an ideal world, partners will gain valuable experience that will prepare them to become a practice owner.
For practice owners, this is an exceptional time of year to find a quality partner. Many recent graduates are joining private practices, and later this month many dentists will be completing residency programs. This is an important opportunity for firms that are ready to have a partner. It is essential for a firm owner to be sure that the firm can successfully support a partner. The practice must have the available space, patient flow and staff to accommodate an associate dentist.
Last month: Grow your practice
Associate agreements can lead to a rewarding long-term professional relationship, or they can end in frustration, miscommunication, resentment, and sometimes litigation. Effective preparation, communication and understanding from both the dentist owner and the new associate are essential for a successful partnership. Although partner contracts are one type of agreement, this month’s issue explores a variety of issues surrounding different types of contracts – partner contracts, determining if your firm is ready for a partner, avoiding disputes, end a partnership peacefully and marriage and insurance contracts. . We hope this information gives you something to think about to avoid serious headaches in the future.
Practices thrive when effective systems are in place. This promotes standard practices, successful communication and a source of consistency for every member of the dental team. In my practice, I have found that my systems are constantly evolving; we are always looking for ways to improve our practices, efficiency and productivity. This development is sometimes due to trial and error; other times it’s due to exposure to new services and systems. If you have good systems or yours needs tweaking, Dental economy is there for you. We continuously deliver dynamic and engaging online events that directly address the challenges of private practice.
If you are ready for an in-person event, Dental economyThe Principles of Practice Management Conference will be held August 26-27 in Nashville, Tennessee. This year’s theme: Rock Your Practice! You’ll have two days, up close and personal, with some of our top contributors and most respected practice management experts to help you hone your systems and encourage you to be an effective leader. You’ll learn hands-on lessons from the best in the industry and return home elated and empowered to take your practice to the next level.
Follow @dentaleconomicsofficial for updates on DE Solutions Lab, practice management principles and practical tips.
We’re halfway through 2022, and hopefully this is your best year yet!
Pamela Maragliano-Muniz, DMD
Editor’s note: This article originally appeared in the June 2022 print edition of Dental economy magazine. Dentists in North America can take advantage of a free print subscription. Register here.