North Texas Dentistry Volume 9 Issue 2 2019 ISSUE 2 DE | Page 16

A Formula to Successfully
GROW
by Lynne S. Gerlach, DDS, FICD, FACD
practice transitions
Your Practice with an Associate
Often, one of the first transition strategies employed by dentists
is to add an associate to their practice. This can be one of several
methods used to energize the practice, bring in new patients and
grow the revenue. If all goes well, this associate could move to
partner or ultimately owner of the practice in the future. Certainly,
not all associate paths follow such a neat and tidy order. Dentists
need to understand the benefits as well as challenges of adding
an associate to their practice. As transition consultants, we are
contacted to search for an appropriate associate or set the stage
for a current associate moving to partner or owner. Through years
of working with practices, the formula G+R+O+W = Success
is helpful to the practice owner who is considering the addition of
an associate. A few examples of practices that have applied this
formula to their success are included as well.
G represents GIVE!
Practice owners are accustomed to giving to their businesses.
Most have a career of financial investment, dedication, and hard
work! As the practice owner, are you willing to give more to make
the onboarding of an associate effective and successful? Decisions
involving practice operations like whether to expand clinic hours,
the need to realign or add personnel, and which doctor’s schedule
will receive the new patients are some of the objectives. The new
associate needs to come to the practice prepared to give as well.
They can give their enthusiasm and work ethic. They can bring
their clinical skills and emotional temperament to assist the prac-
tice with new projects and ideas. Both practice owner and associ-
ate can give to their community as business leaders. A generous
business culture on both sides can lead to greatness!
Practice #1 - The new associate giving to an established practice
was evidenced by their ability to glean through the practice man-
agement software and locating the digital consent forms with elec-
tronic signatures necessary for the patient record. The ability for
this improvement had been there all along, but the associate
brought their skill and time to the project resulting in success!
R represents REWARD!
Both the practice owner and associate should be rewarded
financially for this growth of the practice when given proper tim-
16 NORTH TEXAS DENTISTRY | www.northtexasdentistry.com
ing for the investment. patients should feel rewarded as they
are treated in the office by a caring and collaborative clinical and
administrative team. this reward begins with both parties com-
mitting to growing the practice together.
Practice #2 - A new associate bringing expanded hours to a prac-
tice rewarded the practice owner with more time at home fol-
lowing the birth of a new baby without impacting the practice
owner’s revenue.
O represents OPPORTUNITY!
The practice owner and associate have an incredible path upon
which to embark. Through proper and thorough associate
onboarding in the technical and practice philosophies. there is an
opportunity for mentoring and reverse-mentoring. Office poli-
cies need to be discussed. Furthermore, changes in equipment,
supplies, hours or team members takes organizational planning.
The addition of an associate can be exciting and a bit chaotic with
new challenges that usually level out quickly.
Practice #3 - The opportunity for an owner to complete a career
well often allows for a practice owner to share their technical and
business knowledge with a young colleague. Doctor is a Latin
word that means ‘to teach’. As practice leaders, the opportunity
to teach our patients and our team about how much we care
is priceless.
W represents WIN!
Most practice owners are not looking for a revolving door in their
associate position. When this revolving door occurs, it can be
expensive and interruptive in patient care. Having both doctors
work together when meeting referring offices, developing new
website content, streamlining operations with IT improvements
or creating new marketing strategies brings the most successful
results. The new associate should seek the chance to grow their
administrative skills by bringing their best energy and ideas to
these systems. Collaboration on new procedures or systems to be
offered in the practice should be communicated effectively
through team meetings and education. Team members are
invested in the practice success and are integral in how best to