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Associate Dentist Contracts: 4 Red Flags for New Grads & Practice Owners | Dr. Paul Goodman

September 21, 2022 · 47 min

Hiring an associate, or signing on as one?

Show notes

Hiring an associate, or signing on as one? Dr. Paul Goodman ("Dr. Nacho" of Dental Nachos) and Jill Ruggieri of Dentist Job Connect walk through the four contract red flags they see every week: no guaranteed income, unreasonable restrictive covenants, long termination notices, and pay plans built on a "draw." The DINKs share their own associate stories, from Chad's first job out of school to the associate who thanked Jeff for simply paying what he promised.

In this episode:
- Why finding the right associate is so hard
- How Dentist Job Connect matches practices and associates
- Red flag #1: no guaranteed income, just the promise you'll be "busy"
- Red flag #2: restrictive covenants that block your next step
- Why every contract needs a dental-focused attorney
- Red flag #3: long termination notices and penalties
- Red flag #4: complex pay plans and the word "draw"
- "If you need all that protective language, maybe you're not ready"
- Don't rush the buy-in: focus on a great first year
- The golden rule: lay out every rule from day one
- Why practice owners need mentors too

📰 Plus dental news from December 2021: the HPV awareness bill passes the House, the ADA pushes back on OSHA's COVID emergency standard, and lobbying insurers for fee increases.

Dr. Paul Goodman is the founder of Dental Nachos and Dentist Job Connect. Jill Ruggieri, a physical therapist by training, is the director of Dentist Job Connect.

🙌 Special shout out to Dentist Job Connect and Dental Nachos for supporting Dentists in the Know!

Chapters:
0:00 Intro
2:04 News: HPV awareness bill passes the House
3:33 News: ADA vs. OSHA's COVID emergency standard
5:28 News: lobbying insurers for fee increases
6:25 Meet Jill Ruggieri and Dr. Paul Goodman
7:33 Why finding an associate is so hard
11:21 How Dentist Job Connect works
13:21 Red flag #1: no income guarantee
18:29 Chad's first associateship: a draw
20:42 Sponsor: Dentist Job Connect
21:23 Red flag #2: unreasonable restrictive covenants
23:29 Get your contract reviewed
24:19 Red flag #3: long termination notices
27:08 Start looking before you need an associate
31:08 Red flag #4: complex pay and the word "draw"
33:06 "Maybe you're not ready"
33:32 The associate who cried at her second paycheck
35:01 Don't rush the buy-in
36:54 The golden rule: set the rules up front
37:51 Owners need mentors too
38:46 New grads are getting fewer clinical reps
39:35 How to reach Dentist Job Connect

🎥 Watch the full episode on YouTube:
https://www.youtube.com/@dentistsintheknow

📺 Join us live every Wednesday at 8pm ET!

🌐 Check out our brand new website:
https://dentistsintheknow.com

🌟 Stay up to date on all the latest dental trends when you follow the DINKs:
https://fanflet.com/dinks/social-2

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