I had a very unique experience when purchasing my practice . My hope in sharing my story is that I can give some insight to any dentist contemplating purchasing a practice or to those that already own their practice .
I started working at my practice , Bellefonte Family Dentistry , in 2014 as an associate dentist . We are located approximately 10 minutes from Penn State ’ s campus . I was originally going to partner with the current owner , but he was arrested in 2017 . I continued to work there by myself while he went through his legal battles , and I had to testify against him while purchasing his practice . I purchased the practice in 2018 , and also became a part owner in the building at the same time . Making the transition from being an employee to the owner required a real sense of urgency . Many of you may also go through this scenario if the outgoing dentist is retiring , needs medical leave , or other challenging circumstances . This transition was difficult and tedious for my wife , my staff and me . We also had our first child during this time , so my life was completely changed for the better .
Now , I ’ m 40 years old , and I ’ ve been an owner for almost 6 years . We have three dentists ( including me ), three hygienists and two EFDAs . The office has 10 rooms , and we are fee for service . The office has been fee for service for around 20 years . My staff has been phenomenal . They have stuck with me through the transition have helped build the practice back up after the previous dentist had to leave . One of the biggest pieces of advice I can give is be flexible . Give in to listening to your staff and patients about the flow of your specific office . Do not force the office to change abruptly . This will cause staff and patients to want to look elsewhere . Also , surround yourself with a good team . It is so important to find people that you can trust – lawyer , financial advisor , accountant , practice manager , IT company , etc . I relied on the senior office staff to help me mitigate issues with patients and treatment plans , which help the patients gain trust with me .
My family has grown since this transition . I now have a 6-year-old son and a 3-year-old daughter . My wife and I have been married for 15 amazing years . She is my rock and foundation . The first three years of ownership , I was at my office constantly . I was the only dentist during that time , and I was on the search for an associate dentist . I was worried about the debt I was in , responsibility for paying staff , benefits and the building payment . This caused me to go into overdrive and stay at the office trying to “ learn the ropes .”
My wife was with my son many nights when I ’ d be at the office late . I was frustrated that my work-life balance was not at peace and too heavy on the work side . I slowly learned the motto “ tomorrow is another day .” You do not have to get everything done in one day . Make lists , use Post-It notes or whatever you need to manage the tasks at hand . Also , find something that you truly enjoy . I love spending time with my kids and working out . I found that going to the gym in the morning at 5:30 a . m . before my family is awake is a way for me to reset myself . It took years to finally figure that one out .
You are the go-to person at the office that everyone comes to when there is an issue . If a sensor breaks , water leaks , or a patient is not happy , you have to address it in some shape or manner . You have to learn how to keep an open-door policy but yet have time to manage your patients , your own life and your sanity . I learned through this process to delegate tasks to staff members and trust that they ’ ll do it the way you intended . It is important to also thank them for their help and remind them that they are appreciated .
Owning a practice has given me the autonomy I was looking for . I am my own boss . I am able to grow my practice and make it a reflection of myself . I am very proud of and grateful for what I have built , and I ’ m looking forward to the future that lies ahead of me . It ’ s funny how in the beginning I had thoughts of “ why did I do this ?”, but kept seeing the light at the end of the tunnel . It ’ s been getting better and better every day . It ’ s been a lot of work , but I ’ ve learned how to manage my life so I can enjoy being a dentist , owner and a dad / husband . Thank you for reading , and I wish you all the best of luck in your future endeavors .
JULY / AUGUST 2024 | PENNSYLVANIA DENTAL JOURNAL 39