Editor’s note: The DSO Secrets: Dentist Entrepreneurs Growing Dental Organizations Facebook page is a place to find resources, networking opportunities, information about upcoming industry events, and a forum to ask fellow dentist entrepreneurs questions you may have about running your business. The following was a recent discussion among DSO Secrets Facebook page members.
Kalleb Greene asked: What has everyone found as the most straightforward way of paying an associate?
A few of the DSO Secrets Facebook page members responses:
Shaharyar Fiza: The absolute no-nonsense way to pay an associate dentist is percentage of adjusted production … This has been the most straightforward compensation structure for me. Aside from the obvious collection process handed off as the owner’s responsibility, paying on production also incentivizes the associate to perform same-day treatment, as they do not have to wait for payments to come in and be processed by the admin team.
Kyle Hale: 30% production, 30% lab bill.
Anthony Joseph: Salary with potential for bonus at end-of-year term, which includes percentage of collection minus lab. If reconciled yearly, then it’s much more straightforward and simple throughout the year.
Emily Letran: Salary, bonus based on tiered production.
Santosh Patel: Eat what you treat. For GPs we are seeing 27-30% of adjusted production (with use of approved lab partners). For Specialists it’s 35-40%
Hendrick Lai: Most straightforward way is a salary. (Not the best, but most straightforward)
Kiltesh Patel: Doesn’t matter which way, but the key is being transparent. Trust goes a long way.