Type of Contract Associate-ships

Associate ships are a popular choice for new graduates. They offer the chance to hone clinical skills and spend time with an established dentist, all while bringing home a regular paycheck. There are two approaches to associateships; without practice equity and with practice equity.

Associates without practice equity are essentially employees rather than potential partners to the business. Associateship positions may be available working for an individual practice owner in his or her office or as one of many employed dentists in a large group practice setting.

This type of employment offers :

• Immediate income (depending on the agreement, it could also include benefits such as paid CE, insurance, vacation and sick leave ). Changes in the partnership structure can affect agreements with associates.
• No financial risk or initial capital requirements. With reduced risk often comes reduced earning potential.
• The opportunity to observe practice management without taking on management responsibilities. Limited responsibility can also mean a limited ability to effect changes in the dental office.
• Professional teamwork and consultation with shared responsibility for patient coverage. A team approach can mean conflicting opinions about many topics and diplomacy is a valuable skill.

Associates with practice equity have the option to “buy in” by investing and become a partner in the practice. Many characteristics are similar to associateships without equity, but having an equity stake in a practice usually means the potential for a higher income and increased say over management practices over time.

• In the early phase of an associateship with equity, an associate may be treated more like an employee and less like a partner.
• As a partner, staff may rely on your leadership to resolve conflict.