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Associateships: a business wedding
Journal of the American Dental Association (1939)
|February 1, 1994
Summary
Hiring an associate can be a strategic move for solo practitioners facing high operational costs. This guide explores the benefits and key considerations for bringing on an associate, including interviewing and compensation strategies.
Area of Science:
- Dental Practice Management
- Business Administration
Background:
- Solo dental practices face increasing financial pressures.
- Competitive market dynamics necessitate exploring growth and efficiency strategies.
Purpose of the Study:
- To evaluate the viability of dental associateships as a business model for solo practitioners.
- To outline critical factors for successful associate hiring and integration.
Main Methods:
- Review of practice management literature.
- Analysis of financial and operational benefits of associateships.
- Discussion of key interviewing and compensation considerations.
Main Results:
- Associateships offer a potential solution to high overhead costs and enhance practice capacity.
- Strategic interviewing and fair compensation are crucial for successful associate retention and practice growth.
Conclusions:
- Dental associateships present a viable option for solo practitioners seeking to expand services and profitability.
- Careful planning regarding recruitment, interviewing, and compensation is essential for maximizing the benefits of hiring an associate.