Dr. Dean C. Bellavia

1-716-834-5857

BioEngineering@twc.com

Associates/Partners & RETIRING Pearls

Associates/Partners & RETIRING Pearls

 

If considering an associate/partner or if planning to retire soon, 

 

the "Associates/Partners & Retiring Kit" might help.


Are you the Associate or Partner Type?  Simply answer the following questions to find out.   1) If my partner and I disagreed, would I concede to my partner if it were best for the practice, even if it wasn't best for me?   2) Can I share “equal practice name billing” (vs. the partnership being in my name)?   If YES to both questions, you are the partner type…if…

When can you afford to retire—do you have enough savings to retire?  What is the best way to retire?  The answers may not be that complicated.   Retirement can take many forms.  It can be sudden—sell your practice and move on to another phase of your life.  It can be gradual—take on an associate and practice a few days a week for five or 10 years.  It can be long-lasting—sell…

Are you considering the sale of your practice as an important part of your retirement income?  Are you considering selling off part or all of your practice?  Are you considering purchasing somebody else’s practice?  If so, this management pearl may help you to decide the best course of action.   The sale value of the practice is based on two principles: 1) Can it generate enough gross income to pay…

Have you ever considered combining your Ortho practice with a Pedo practice?  Are you concerned that your competition may do so?  If so, this management pearl may help you to put your mind at ease.   1) An established Ortho practice that brings in a new pediatric dentist (who doesn’t have an established Pedo practice) to increase their Ortho practice referrals.   The major con is the time it takes for the orthodontist…

Are you considering a partner or associate?  Might you like to know how to go about obtaining one?  If yes, maybe this pearl will help.   Lets face it, making system changes in your practice isn’t typically met with great staff zeal.  But if your team is a part of the entire process, your success is more probable.   Sooo...Analyze the attachments below to see how the A~D~D~I~C~T straightforward approach…

  Are you considering or wondering about an associate?  Are you in a quandary about associate compensation?  If so, maybe this pearl can help.   Compensation of an associate is simple when that associate is a partner.  The rule is that they get half of the yearly net (or 1/3 if three partners, etc.).  If the buy-in is for cash, this equal share applies immediately. When the initial buy-in includes…

  Are you looking for a new partner or associate?  Do you typically teach other orthodontists in your practice?  Do you feel a need to protect your practice from your own employees?  If so, maybe this pearl can help you avoid embarrassment or legal problems.   Many orthodontists are beginning to realize that there are people out there who are not very nice, and through ignorance or intent to do…

Is your practice growing out of control?  Have you considered a new associate or partner? Do you think that you can handle an associate or partner?  Maybe the 6th part of this odyssey series will help you.     Dream Practice Odyssey: Part 6     View more of Your Practice Odyssey Videos   Your Practice Odyssey - Part-1: The Perils of Staffing   Your Practice Odyssey - Part-2: The…

Latest Management Pearl

  • Mindfulness: Part-1, Gaining Wisdom by Understanding
      Do you find it intolerable to listen to opinions that are contrary to yours?  Do you seek information that only fortifies your own opinions and shuns anything contrary?  Is this limiting your ability to become a wiser, more fulfilled person?  If so, you might consider appreciating the contrary opinions of others.   Listening to and accepting as somewhat valid the contrary opinions of others isn’t easy to do, especially…