When you first begin your practice, there is tremendous room for growth through new patient acquisition. If you understand your patient volume capacity, do a great job with your patients, and manage your practice appropriately, you will eventually hit a ceiling where you will no longer be able to accept new clientele without sacrificing your existing patient care. Some practices that continue to operate as ‘new’ practices (even after years and decades) without the appropriate patient centric procedures to create retention, will never turn the corner to a stable, mature practice.
As your practice grows, you’ll need to share some responsibilities if you desire greater stability, vacations, and professional camaraderie. If you manage to create an abundance of patients, the question becomes how to manage them; one wonderful way to do that is to bring on associates. In able to be ready for a great associate program, start early by developing a recruitment strategy, a 12 week internship program, associate agreements, and an associate reimbursement structure so that you are completely prepared when the time comes.
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