Methods IV- Practice Management

An introduction to business factors important to making decisions on associateships and ownership of a dental practice. General business concepts are presented as well as specific concepts necessary to manage a successful dental practice. Students are exposed to practice overhead including personnel costs. Students complete productivity logs to help them understand chair utilization, time management, and effects of managed care and other third party payers on financial outcomes. Leadership and management skills are emphasized as necessary for a successful practice. Personnel practices are presented so the beginning dentist is aware of legal obligations to hire, manage, and terminate employees. Associateship agreements and practice transitions are discussed to aid the beginning dentist in finding employment opportunities and purchasing a practice. Students are also presented with personal financial strategies and how they relate to their dental business and to retirement planning. The