There are a lot of good reasons to hire a new Optometry or Ophthalmology associate, and just as many wrong ones. Ultimately, the decision is yours. While there may be some gray areas depending on your practice’s unique situation, here are a few guidelines to consider as your ponder whether now is the right time to hire a new associate:
Reason 1: Your practice is too busy.
If you are having to refer work you would prefer to do or are losing patients because of long waits, this could be a reason to consider a new associate. Two important things to consider are whether this is simply a busy time or a sustainable trend and whether your practice could expand to absorb the costs (salary, benefits, infrastructure) of a new associate without impacting operations.
Reason 2: You lost an associate.
While this may be an indicator you need a new associate, it should not be an automatic trigger. Take an honest look at the revenue the parting associate generated, the cadence of the business and the real effect of the associate on the business as a whole.
Reason 3: You want to expand.
While this is certainly a reason to seek a new associate, the nature of the expansion will influence the traits of the associate you might seek. Looking for an associate to lead a new practice in another town? Charisma and likability may be key factors in the associate you choose. Need more capacity in your current practice? Fit with your current culture is more critical.
Reason 4: You are looking for an associate to take over your practice when you retire.
We’re all getting closer to retirement every day. It’s wise to begin succession planning well in advance of your anticipated exit. The right associate is the perfect way to create a relatively seamless transition.
At ETS Vision, we are more than recruiters. With hundreds of successes across the United States, we can offer you an expertise earned through years of working with practices to identify what works and what doesn’t. If you’re considering a new associate, reach out to us for a no-obligation conversation.