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What kind of impression does your practice make?

Whether you’re selling or hiring, your success hinges on what potential buyers or hires think about your practice. And that impression often goes beyond the initial curb appeal. (See: 5 Easy Ways to Boost Your Practice’s Curb Appeal.)

When dentists are looking to join a new practice, whether as an owner or associate, they’re wise to look beyond that first impression. In fact, a smart candidate will take the time to dig deeper to see how well the practice runs. After all, the practice could become their professional home!

As an ADA Advisor helping dentists navigate their practice transitions, I talk to many dentists who say they feel “stuck.” When someone says this, I always try to better understand what they mean. Their answers tend to fall into one of a few categories:

• They have been in their current practice for a few years and feel like there’s no room for advancement. The owner isn’t retiring any time soon and doesn’t want to share patients or responsibility.
• They are in a corporate practice and like the stability, but feel burned out.
• They want to buy but aren’t sure how they can afford it, or don’t feel quite ready. (And they know there’s a lot they don’t know.)

When a doctor considers buying a practice, they look beyond the building and the equipment. After all, the patients and staff make a practice!

A strong, loyal patient pool is the most valuable asset in a sale, and long-term, well-trained staff are worth their weight in gold.

But if staff are unhappy with a transition — even if they stick around — patients are more likely to leave. So how can a new owner retain staff and patients after the transition?