Tips for Merging Practices

Are you considering merging your orthodontic practice with another practice, or are you already in the merger process? Stosich Consulting, an orthodontic consulting firm, has some tips for you to make the transition as seamless as possible.

1. Analyze both practices. Once you’ve identified the practice you want to merge with, it is important to complete a thorough analysis of both of your practices. You need to fully understand the operations of each, including the number of employees and job descriptions, patient load, technology used, etc. You may find things that need to be fleshed out, such as employees with differing job descriptions, different practice management software, or other things that need to be addressed before you can successfully merge together.
2. Create a new brand that brings both practices together. It is important to remember, especially if you were a solo practitioner before, that merging is bringing two worlds together, and your new identity should take that into account.
3. Keep your team apprised every step of the way. A merger can make employees nervous, but if you are upfront and discuss why the merger is happening and all of the positive things it can bring, your employees will appreciate it. If you don’t keep your team members up to date, it can create confusion, rumors, and hurt feelings. Make sure your team knows they are valued and that the practice you are merging with values them, as well.
4. Ensure everyone is a team player. When merging, it can be easy to take an us versus them attitude. Each staff will most likely have to be willing to compromise and learn new things. It can be easy to fall back on a “but our practice does it this way” mentality, but encourage everyone to work collaboratively, listen and learn. Everyone’s goal should be the same – to help the practice succeed, even if it means leaving things you’ve done in the past behind.
5. Talk to your patients. Your patients should also be updated along the way so they know there will not be a stoppage in their care and that they will always receive the same high quality care they are used to. Your patients chose your practice because they trust you, so you want to assure them that the new team will be every bit as capable.
6. Be sure you have a clear plan for how you are going to handle more patients. The goal of a merger is an increase in patient load, but you have to be able to handle that increase without disruption. Look at the number of patients you can realistically expect to increase by, and then carefully analyze the impact that will have. Do you need to adjust or add hours to your practice schedule to accommodate new patients? Do you need to train additional staff to help with the additional patient load?
7. Bring in the experts. If you’ve never merged practices before, there may be things you overlook. An orthodontic consulting firm can help you understand all of the necessary steps you need to take to make your merger as successful as possible, without altering your patient care.

Merging orthodontic practices can offer benefits to both parties, but it doesn’t come without its hiccups and growing pains. If you are properly prepared, you can make these blips as painless as possible.

The experts at Stosich Consulting are not only experts in orthodontic care, but in helping practices merge and grow, as well. Dr. Michael and Dr. Sachdeva known the frustrations and the joys that go along with creating a successful orthodontic practice. Their knowledge will help you meet and exceed your goals. Call Stosich Consulting today at 847-986-5693.