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Adding an associate to your dental practice is an exciting step for growth, and it can offer numerous benefits to you as the practice owner. However, this decision requires careful planning, from assessing your needs and finding the right candidate to integrating them into your practice. Below, we’ll guide you through each step of the process to help ensure a successful experience.
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1. Assess Your Practice’s Needs and Goals
Before adding an associate, it’s essential to determine if your practice is truly ready for one. This means identifying your goals, evaluating your current workload, and checking financial readiness.
- Identify Workload Demands: If patient demand exceeds your capacity or you’re feeling stretched, adding an associate can alleviate the workload.
- Set Long-Term Practice Goals: Consider whether you want to expand your services, offer extended hours, or work towards an eventual succession plan. Adding an associate might be the next logical step toward these objectives.
- Evaluate Financial Readiness: Review your finances to ensure your practice can comfortably support an additional salary. Look into compensation benchmarks in your area to offer competitive packages.
2. Define the Associate’s Role and Responsibilities
Setting clear expectations for your new associate’s role is crucial to a smooth integration.
- Scope of Practice: Outline the types of treatments and procedures you want the associate to handle. Perhaps they’ll focus on routine dental care while you take on complex cases.
- Scheduling and Patient Load: Clarify how many patients they’ll see each day, and communicate your expectations regarding appointment management.
- Integrate with Current Team and Patient Base: Consider the associate’s place within your team dynamics and how they’ll be introduced to your patients. Introducing them gradually to patients can foster a positive relationship from the start.
3. Determine Compensation Structure and Benefits
An attractive compensation and benefits package is essential to hiring and retaining top talent. Consider your options for structuring their pay and benefits:
- Salary Options: A competitive base salary can provide security, but many practices opt for a base-plus-commission model to incentivize productivity.
- Incentive Programs: Bonus structures for meeting productivity targets or quality care goals can motivate associates and increase their buy-in to your practice.
- Benefits Package: A well-rounded package with health insurance, retirement options, and professional development opportunities can make your practice more appealing to associates.
4. Find the Right Associate
The right associate will not only have the clinical skills you’re looking for but will also align with your practice’s values and culture.
- Source Potential Candidates: Utilize dental job boards, professional networks, and connections with local dental schools to reach a wide candidate pool.
- Conduct Thorough Interviews: Prioritize candidates whose career goals align with your practice’s mission. During interviews, assess their clinical skills, patient care philosophy, and adaptability.
- Check References and Credentials: Verify each candidate’s background, speaking to their previous employers or colleagues, and confirm their credentials to ensure a high-quality hire.
5. Draft a Comprehensive Employment Agreement
A solid employment agreement provides clarity for both you and the associate and protects your practice in the long term. Key elements include:
- Roles and Responsibilities: Clearly state their daily duties, working hours, and emergency or on-call expectations.
- Compensation Details: Document their base salary, commission structures, and any bonuses.
- Non-Compete and Confidentiality Agreements: Many practice owners choose to include a non-compete clause, especially if their associate might otherwise set up a practice nearby. Confidentiality clauses also protect sensitive patient and practice information.
- Transition Terms: Consider including clauses for potential partnership, buy-in, or exit scenarios to allow for flexibility in the future.
6. Develop a Smooth Onboarding Process
An effective onboarding process will help your associate feel supported and welcomed into the team.
- Training and Integration: Orient them on practice protocols, introduce them to your team, and review any technology or equipment unique to your practice.
- Introduce to Team and Patients: Host a team gathering to welcome them, and consider sending out a patient announcement to introduce them.
- Ongoing Mentorship and Support: Schedule regular check-ins to discuss cases, provide feedback, and ensure they’re settling in smoothly. Being accessible to your associate during the initial months can make a big difference in their confidence and performance.
7. Communicate the Benefits to Patients
Introducing an associate to patients is an important step in retaining their trust in the practice.
- Enhanced Access and Flexibility: Let patients know that with the new associate, they can expect shorter wait times and increased scheduling flexibility.
- Expanded Service Offering: If your associate has specialized skills, highlight these new options to patients as added value.
- Reassure Patients on Quality of Care: Share that your associate was selected based on high standards of care, assuring patients that the quality they expect will be maintained.
8. Evaluate and Adjust Over Time
Once your associate is part of the team, it’s important to monitor their integration and adjust as needed.
- Track Key Performance Metrics: Regularly review metrics such as patient satisfaction, appointment volume, and revenue growth to ensure a successful addition.
- Seek Feedback: Encourage feedback from both your team and the associate to understand how the new structure is working and address any challenges that arise.
- Adjust as Needed: Flexibility is key, especially in the early months. Adjust their role, scheduling, or compensation structure as necessary to achieve a productive, positive working relationship.
Benefits of Adding an Associate
Adding an associate can provide multiple long-term benefits for you as a practice owner:
- Increased Revenue Potential: With another practitioner handling patients, your practice can serve more people and potentially expand its offerings.
- Enhanced Work-Life Balance: An associate allows you to share the workload, freeing up more of your time for personal life or practice management.
- Pathway to Succession Planning: Bringing on an associate early offers a natural step towards succession planning, as they may become a potential partner or buyer of the practice.
- Expanded Services: Associates often bring new skills and specialties, which can help your practice grow its service offerings and attract a wider patient base.
Final Thoughts
Hiring an associate is a significant step that, when done thoughtfully, can enhance your practice’s growth, patient service, and overall success. At SPP Partners, we specialize in supporting practice owners throughout the associate hiring process. From defining the role to crafting employment agreements, we’re here to help. Contact us today to learn how we can make adding an associate to your practice a seamless and beneficial experience.