Is Your Associate Helping or Hurting Your Practice?

When dentists think about growing their practice, one of the first solutions that often comes to mind is hiring an associate. It seems logical: more hands should mean more production, right? And for dentists hoping to reduce their workload or take time off, having an associate can feel like the perfect way to keep the doors open and revenue flowing.

But adding an associate isn't always the best - or the only - path to growth. Before you take that step, it's worth exploring other strategies that could strengthen your practice without the risks that sometimes come with bringing in another dentist.

Alternative Ways to Boost Productivity

Before committing to an associate, consider these options:

Review your scheduling efficiency

Often, a more strategic approach to how your days are booked can help you accomplish more without working longer hours. If in doubt, a consultant with expertise in dental operations can help identify opportunities.

Expand your hygiene team's capabilities

An expanded-duty hygienist can take on more responsibilities, freeing you to focus on the more complex, rewarding procedures that only you can deliver.

Partner with specialists

If certain cases take too long or lead to re-treatment, referring out - or arranging for specialists to treat patients in your office - could improve outcomes and save time.

Invest in new technology

Modern technology and advanced clinical training can help you deliver care more efficiently, expand your services, and enhance both profitability and job satisfaction.

When Adding an Associate Makes Sense - And What to Watch Out For

If, after careful evaluation, you decide that hiring an associate is the right move, it's crucial to understand the potential impact on your practice's most valuable asset: your goodwill.

Without proper planning, associates can sometimes pose risks:

• They may leave and set up nearby, attracting patients who followed them rather than staying loyal to your practice.
• If they manage a significant share of patient care - especially without a clear, enforceable contract - your practice's value could be undermined.

Here's how to minimize those risks:

• Retain your connection with patients. Ensure that you continue seeing all new patients and limit how much of your patient base is seen exclusively by the associate.
• Clearly define roles. Consider having the associate handle specific treatments while you maintain the primary patient relationship.
• Secure a strong agreement. Work with an experienced dental lawyer to draft an associate contract that is fair, enforceable, and assignable - critical if you plan to sell the practice in the future.

Why Associate Agreements Matter for Practice Value

When it comes time to sell your practice, a high-producing associate without a contract can jeopardize the deal. Buyers want assurance that the associate will stay - or that their production can be replaced without major disruption.

We've seen deals fall apart when associates, told of the sale at the last minute, refuse to sign agreements or demand more favourable terms. Worse, they might leave entirely, taking patients with them and leaving you scrambling to rebuild at a stage in life when you'd planned to move on.

The Bottom Line

An associate can indeed be an asset - but only if managed thoughtfully. Your involvement with patients, combined with the right legal protections, will determine whether adding an associate strengthens your practice or puts it at risk.

Let Meridian Sales & Appraisals Help You Plan for Long-Term Value

At Meridian Sales & Appraisals, we specialize in independent practice appraisals and guidance on how your decisions today - including adding an associate - may affect your practice's future value and marketability. Contact us today for a confidential consultation -and ensure your next step supports the value you've built.

Alan Rustom