Have you ever wondered how you were going to manage a dental career, a family, and the rest of your life? Have you been in practice a good many years and found your energy waning? Are you old enough to retire, but can’t afford to quit? Are you just out of the military and don’t need/want to practice “full-time”? Women, does a part-time career with fantastic income and equity ownership appeal to you as you plan your family or otherwise need to divide your life a little more equally. Any or all of the above?
A little known secret is that Comfort Dental can be the answer to these questions and likely a few more as well. HALF-PARTNERSHIP. Our partnership system has allowed us to take our equal partner-owners and divide one partnership share into two halves. When we open a new dental practice, there are two equal partner-owners. Each dentist owns 50% of this practice. As the practice grows, those two owners may sell a partnership interest, creating 33&1/3% for each of the now three owners. Ultimately those three owners may sell another partnership interest, creating four – quarter percentage partner-owners. Each half or third or quarter partner-owner has the right to his/her increment of the available work hours (our offices are open 66 hours/week) and without getting too complicated, this works out to be 24-36 hours per week. And this is broken down into 4-6 6-hour clinical shifts.
The half-partnership is therefore 2-3 6-hour clinical shifts apiece for a 12-18 hour workweek each, give or take. (There’s certainly all kinds of flexibility as long as all partners agree.) For example both half partner-owners can work the, say, quarter-partnership’s allotted shifts together or apart or a combination as agreed upon by all the partners in the practice. This might mean a half partner shares 4-6 shifts per week with the other half partner; or as little as maybe 2-3 shifts per week alone. (Again, each shift is 6 hours). The 2 half partners may share patients or keep them individually, depending on agreement.
In this system, a partner whose energy is waning is able to stay “fresh” for the entire number of shifts that he/she is on the schedule. Partners become more productive during a shift and have very little “down” time. Moms are able to continue practicing and earning a good income, while being able to be at home for the family the majority of the time. Older doctors are able to continue working, earning and maintaining the value of their practice asset. Military veterans are able to create a nice income to add to their military pension.
We have a good number of husband/wife, Doctor/Doctor partner couples. They never practice in the same practice because they wouldn’t have time off together except in rare cases. Instead, we have seen the husband doctor in one practice and the wife doctor in another. Many of the wife doctors have taken leave from their practices for maternity and after the birth return to a full-time schedule. This creates some challenges when scheduling both husband and wife, but somehow they make it work. In a couple of cases the husband doctor keeps his full-time partnership schedule and the wife doctor sells half of her practice increment and creates a half-partnership. She then is able to continue her dental career and still stay home with the family. The husband doctor is able to schedule his time off when his wife doctor is working her limited schedule. Or they schedule as much time off together and let the nanny take care of the kids on a part-time basis. The Comfort Dental HALF PARTNERSHIP offers all of these possibilities.
Two senior Comfort partners who want to stay active either because they still need the income or still enjoy the practice of dentistry are great candidates for HALF PARTNERSHIP. Dental practice is difficult, as we all know, and our energy levels are tough to maintain throughout our careers. Yet, a Comfort Dental partnership requires we maintain our energy in support of the other partners in the practice.
But at Comfort Dental, half doesn’t always mean half. We believe that Comfort Dental has “funny math” and that 3 6-hour shifts does not generate half of what 6 6-hour shifts generates. Maybe, just maybe, since it’s easier to focus and gear up for just 3 shifts per week, 3 shifts equals 60 or 70 or even 80% of what 6 shifts offers as all resources are concentrated into the shorter week. We now have senior Comfort partners proving the “funny math” exists and works nicely at Comfort Dental.
Perhaps a retiring military dentist has a nice pension but still wants to practice, help people, earn, and enjoy the wonderful challenge of dental practice but doesn’t need to commit full time to it. Comfort Dental HALF PARTNERSHIP is a great option.
If you don’t fit in the full-time box or otherwise can’t or won’t commit to the “Whole Comfort Enchilada”, give this some thought. Comfort Dental HALF PARTNERSHIP may just have the answer for you — creative options for individuals who don’t “fit in the box”. It has all the tremendous virtues of the Comfort Dental partnership but only half the time commitment. Genius! Brilliant!