Anita Roubicek, February 2018 - Very often when a practice is bought by a group practice, there is very little in the way of change on the inside. The dental group takes control of the finances but allows the previous owner to continue to run the practice as long as they are happy doing so.
Even though they are no longer the owner, the original dentist is left on their own devices, to keep running the business.
That is until the dental group reaches a certain size, and then suddenly everything changes.
The group wants to standardise the processes and begins to enforce changes on the old owner. This typically results in a disgruntled dentist and a team who end up leaving.
I have seen this pattern over and over, and the end result is a lot of headaches for the group practice owners. A lot of recruiting and hand-holding is needed years after the purchase.
As with most things, the way to avoid it happening is to begin to think ahead.
1. Choosing the strategy
First, you need to consider the best management setup for your newly purchased practice. The selling dentist may no longer want to be the business driver, as typically they have sold the practice to reduce their stress and responsibilities.
However, they may be willing to still act as the clinical leader of the practice. This makes them a go-to expert on clinical cases, and the driver for case acceptance in the practice. Often with the business management pressure off their shoulders, they are happy to take on this role.
If this is the case, you can then groom a new leader to be the business manager.
2. Finding the future leaders
Think about the next generation of your leadership team in the newly bought practice. Are there associate dentists, or front office team members who might be potential business managers?
You can also look outside the new practice and consider your other locations. Similar to the banking industry, a group dental practice can move team members from one location (or department) to another with great success. It can also offer new opportunities for development for the team.
The key here is to set this up properly from the beginning of the ownership changeover. Let the team know there are leadership opportunities and encourage them to take them. If you do this well, you can then have future leaders working to improve their skills alongside the existing team.
3. Developing and Grooming Future Leaders
The final stage is to think about what kind of training the future leaders need.
Do they need further business acumen? Do they need help with leadership or communication skills?
The original dentist may also be able to mentor younger team members and share their knowledge. By encouraging them to do so, you can leverage that knowledge across the newly bought practice location.
In summary, don’t just wait until the whole group needs an overhaul - start grooming new leaders now, from day one of the changeover.
Developing for the future - without needing to make huge changes in the current situation - will pay dividends down the road.
