Understanding Associate Agreements: Hiring or becoming an associate is a major decision for every orthodontist. This presentation will review a number of the legal and practical issues both the employer and the employee need to consider in entering into an associate agreement. We will examine the important issues relevant to an associate agreement in a presentation that balances the interests of both the employer and the employee. Attendees will come away with an understanding of the fundamentals of an employment agreement.
Recall what a comprehensive employment agreement should contain
Explain the difference between an independent contractor and an employee
Explain how to properly address associate compensation
Discuss what an effective restrictive covenant should (and should not) include
This course will survey current trends and developments in the operating environment for orthodontic practices, and include the effect on transition activities. In addition, the best practices / planning protocols for adding a partner will be explained, to include the necessary legal documentation, both initial and secondary.
Discuss the fundamental changes in orthodontic practice operations and transition activities that will influence your career
Explain the best practices / protocols for Partnership Pathway planning
Explain the fundamental causes for partnership failure and how to prevent them
Differentiate between the initial and secondary legal documents
Understanding the options for employment, how to find them, and what to review when you do find them is extremely important. This webinar will be directed primarily with an orientation to the process of how buyers and sellers or employers for orthodontic opportunities happen. A review of the current market conditions and review of the timeline, expense, and materials needed to review an opportunity will be discussed. Current valuation methodology and a high level overview of the operational and financial metrics that should be reviewed will be covered as well as associate pay, and cash flow pro-formas. Partnership methods of buying in will also be covered.
Recall the nine paths to earning income as a young orthodontist
Explain the current associate compensation norms
List the high level operational and financial metrics necessary to evaluate an opportunity
Illustrate a tax-affected cash flow pro-forma and explain its importance
In a time of slow to low organic economic growth in the country, how to grow a new or mature practice is on every practice owner's mind. This webinar will review various methods for growing a practice. A baseline of how to interpret your current profitability and the key metrics that help determine growth will begin the discussion. A review of what practices are doing to grow will be given along with resources for doctors to use including demographic analysis, consultant expertise and internal, external, social media and other strategies that are working for practices.
Explain how to examine your product mix to grow your practice
Discuss where growing practices are spending money to achieve growth
Discuss adding a satellite and its statistical effect on overhead and revenue
Discuss when does buying revenue (acquiring a competitor) make sense
Choosing and Working With an Attorney: A good attorney can help insure a favorable outcome. Whether it is to negotiate an employment agreement, purchase or sell a practice, collect a fee, defend against an accusation of professional negligence, or interpret a complex dental regulation, having a good attorney can make the difference between a successful outcome and a debilitating loss. This presentation will explore some of the issues every orthodontist needs to understand and consider when choosing and working with an attorney.
Understanding and Negotiating Contracts: Whether you are negotiating your lease, a managed care plan, the purchase of supplies and equipment, an employment agreement, or a contract with a vendor, understanding some basic legal concepts can help improve the outcome. This presentation will review the legal fundamentals of contract law and discuss how they apply to every contract your sign. In addition, we will review strategies that can level the playing field in contract negotiations.
Explain how to efficiently, effectively, and economically utilize the services of an attorney
Explain how to work with an attorney to better achieve their desired outcomes
Discuss the basic concepts of contract law and contract construction
Discuss the traps and pitfalls that can be contained in a contract
Education may be an appropriate career for you if you have special talents. The search is on for the brightest new orthodontists to step into the budgeted and funded faculty positions that are on the rise to serve the research, teaching, service and patient care needs within the specialty. Orthodontic graduate programs report no fewer than 6.4 faculty vacancies per program.
The benefits of a career in academe;
What to expect as a full-time or part-time educator;
Experiences of some of the most renowned orthodontic educators;
AAOs strategic support for orthodontic graduate education.