While it can be a wise business move, the decision to bring in an associate is often made on an emotional basis without doing a proper analysis of the profound impact the presence another doctor will have on both the interpersonal dynamics and the finances of the practice.

We all know that bringing in the wrong associate will create problems, but bringing in the right associate under the wrong conditions is just as bad. Both mistakes can cost you a lot of time and money.

Let the experienced professionals at Hayes Consulting guide you through the process of developing an associate agreement and compensation plan that will lead to a successful long term relationship.

Questions you should have the answer to before bringing in an associate:
• Can I afford an associate? When is the right time to bring someone in?
• How will I compensate my new associate so that they are motivated to work hard and stick around? Do I pay them a set salary or on a production basis?
• What type of agreement do we need? What should be in the contract?
• Should my new associate become a partner? When?
• How can I protect myself if the relationship doesn't work out?

Contact Hayes Consulting

Hayes Consulting offers consulting services for doctors seeking to bring an associate or partner into their practice. Simply click here to e-mail or call 800.588.9636 for a prompt, confidential consultation with Senior Consultant
Marilee Blackwell.

Marilee Blackwell

An MBA and former CPA, Ms. Blackwell is a full-time consultant on partnership and associate issues. She is also a member of the AOA's Practice Management University and a frequent speaker and writer on a variety of financial management issues in the vision care field.

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