Greg Winteregg DDS Adding an Associate to your Practice
Below is a MRR and PLR article in category Business -> subcategory Other.
Adding an Associate to Your Dental Practice
Why and How to Add an Associate
As a dental professional with over thirteen years of private practice experience and nearly as many as a trainer and consultant, I've learned that there's a right and wrong approach to adding an associate. Addressing questions weekly from colleagues considering this move, here's a guide to making this transition smoothly.
Key Considerations
When thinking about adding a dental associate, evaluate the following:
1. When Is the Right Time?
2. How Should Compensation Be Structured?
3. What's the Best Way to Find an Associate?
4. Important Interview Points
5. Integration into Your Practice
Timing Your Decision
Timing is crucial and often where mistakes occur. Imagine you're doing reasonably well, with some open slots and about ten new patients monthly. You might think extending hours and adding an associate is smart. However, this can lead to inefficiencies. Without a sufficient influx of new patients, your associate may end up unproductive, resulting in revenue loss.
To determine the right time to bring in an associate, ask yourself these questions:
- Is your practice experiencing growth or has it hit a plateau despite being efficiently run?
- Are you managing your schedule effectively?
- Is your practice profitable?
- Is your schedule mostly full?
If your answers are "Yes," it may be time to consider an associate.
Practical Scenarios
Consider a scenario where your practice has expanded to its limits, unable to accommodate more patients. The schedule is full weeks in advance, and you're running efficiently and profitably. Here, hiring an associate serves multiple purposes:
1. Improving Patient Service: Faster, more efficient care.
2. Focusing Your Efforts: Allowing you to concentrate on preferred treatments.
3. Boosting Productivity: Increasing overall practice efficiency.
In such a case, start by hiring an associate for one or two days a week, gradually expanding as needed.
Managing Patient Load
Evaluate your patient charts. With around 1,000 charts, a doctor and hygienist can remain productive if managed well, maintaining a one-to-one ratio. If two full-time hygienists are fully booked, it likely indicates the need for an associate. However, ensure other factors align.
Growth and Staffing
Business survival ties to growth. A well-run, expanding practice will eventually require additional hands. The threshold for needing an associate varies based on practice style, fees, and dentistry type.
According to MGE guidelines, add an associate when patient demand outpaces your ability to provide timely service. Ideally, wait times shouldn't exceed a couple of weeks.
Expanding Patient Base
To support yourself and potentially an associate, assess new patient flow. Here's a basic formula:
- Calculate 20% of your total active patient charts.
- Divide this number by 12 (months).
- The result is the minimum monthly new patients needed to maintain practice health. Exceed this for growth and sustainability.
For example, with 1,200 active charts, you'll need 20 new patients monthly to stay healthy.
Conditions for Success
Ensure two key conditions:
1. Fee-for-Service New Patients: Critical for maintaining financial health.
2. Effective Treatment Presentation: Skilled at converting consultations into treatments.
For practices aiming to attract more new patients, workshops like the "MGE New Patient Workshop" can provide valuable strategies for growth.
By carefully considering these factors and aligning them with your practice's current status and goals, adding an associate can become a successful and rewarding next step.
You can find the original non-AI version of this article here: Greg Winteregg DDS Adding an Associate to your Practice.
You can browse and read all the articles for free. If you want to use them and get PLR and MRR rights, you need to buy the pack. Learn more about this pack of over 100 000 MRR and PLR articles.