Orthotown May 2014 - (Page 24)
practice management // feature
by Patrick J. Wood, Esq
and Jason P. Wood, Esq
T
There is no greater, all-consuming argument
on the business side of the profession than whether
partnerships are good or bad for the individuals
involved in them. One side says you should avoid
them at all costs. On the other side, there are national
companies that have their entire business model based
on the idea that partnerships are the only way practices should be run. So who is right? We are firmly and
unequivocally of the mindset that... it depends!
We believe that most partnerships are rushed without a lot of thought given to the complexities of what
is needed to formulate a good partnership, or are created by companies that really do not have the experience necessary. Too often, people believe that because
24
MAY 2014 // orthotown.com
they are friends or family, that
they can work together without having to deal with
the specifics of a partnership. "We've known each
other for years and are best friends" is probably one of
the worst sentences that can ever go through your
head when contemplating a partnership. If you don't
plan this properly, and protect and value that relationship, your best friend (or family member) will become
your greatest enemy. It is serious and needs to be
approached from a position of protecting that relationship, because aside from your spouse (and maybe
your kids) this will be the most important relationship
http://www.orthotown.com
Table of Contents for the Digital Edition of Orthotown May 2014
Orthotown.com Highlights
Wired for Success
Startup Message Boards
What’s it Like Doing Corporate Orthodontics? Honest answers from
Unilateral Distalization— Favorite Method?
Invisalign Trays Hanging Off Posterior?
Navigating Residency
Partnerships: A Match Made in Heaven or the Pathway to Financial Hell?
A Pioneer in Lingual
Arch Development: Clear Fixed Appliance vs. Aligner Treatment
Ad Index
Four Characteristics of Connected Patients and How They Impact Practice Growth and Profitability
Orthotown May 2014
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