Introduction
Being a dentist is already challenging, but dental practice ownership adds a whole new layer of stress.
While working as an associate, you clock out when the last patient leaves and leave your worries behind.
But as a practice owner, you’re constantly thinking about payroll, taxes, equipment, and more.
Let’s break it down so it’s clear why the responsibilities, and the stress, are so different between these two roles.
Understanding the Roles: Associate Dentist vs. Practice Owner
What Does an Associate Dentist Do?
As an associate dentist, your primary focus is providing dental care to patients. Your responsibilities are mainly clinical. You show up, take care of your scheduled patients, and at the end of the day, you’re free to go home and unwind. Of course, the day might be busy, and you might deal with difficult patients or tricky procedures, but your role is largely limited to patient care.
What Does a Practice Owner Do?
On the other hand, a practice owner wears many hats. Sure, they still take care of patients, but they are also responsible for business. Running a practice means handling the finances, managing the staff, keeping up with regulations, marketing the practice, and ensuring the office operates smoothly. All of this falls on the owner’s shoulders.
Why is the Stress So Different?
1. Defined vs. Undefined Responsibilities
An associate dentist’s responsibilities are fairly straightforward. They treat patients, maintain good relationships with them, and maybe assist with some office tasks, but they don’t have to worry about the overall health of the business. Once patient hours are over, their job is done.
They can shut off their work brain and enjoy their personal life.
For a practice owner, though, the lines between work and personal time often blur. The owner doesn’t get to just walk out of the office and leave everything behind.
There’s always something to think about: Is the practice making enough money? Is the new hygienist working out? Are there any legal issues to resolve? The list of things to manage doesn’t have an “off” button.
2. Financial Responsibility
As an associate, you get paid for the work you do. You don’t have to worry about whether the office is making a profit or how much money is being spent on supplies or salaries. It’s a straightforward paycheck for your clinical work.
For a practice owner, however, financial stress is a constant companion. You are responsible for everything from the electricity bill to the lease for the building.
If your practice isn’t bringing in enough patients or the expenses outweigh the income, that stress can be overwhelming.
There’s also the pressure to invest in new technology or marketing to keep the practice competitive, all of which costs money.
3. Managing People
As an associate dentist, you’re part of the team, but you don’t necessarily have to manage it. You’re not responsible for hiring, firing, or resolving conflicts between staff members. You can focus more on the clinical side and less on the interpersonal dynamics of running a business.
As a practice owner, you’re the boss. You need to manage the entire team – dental assistants, hygienists, receptionists – and that means dealing with their problems, scheduling, performance, and even their issues at times. You’re not just a dentist, you’re also a manager, and managing people comes with its own set of stressors.
4. Constant Decision-Making
One of the biggest stressors for practice owners is decision fatigue. From the color of the walls in the waiting room to the type of software used for patient records, the owner is in charge of making decisions—big and small. And with decisions come risks.
You’re constantly asking yourself if you’re making the right choice, and there’s always the potential for things to go wrong.
As an associate, your decisions are largely confined to your treatment of patients. You can focus on dentistry itself, not on the hundreds of other decisions that affect the business side of things.
Why Is It Like This?
The main reason stress never truly stops for practice owners is that they are both clinicians and business owners. Owning a dental practice is running a small business, and small businesses come with their own set of challenges, separate from the clinical work.
Associates, by comparison, don’t have to worry about those additional responsibilities. Their work is more narrowly focused, which allows them to turn off the stress when the day ends.
What Can Be Done to Manage the Stress of Dental Practice Ownership?
Dental practice ownership doesn’t have to mean constant, unrelenting stress. There are ways to manage the workload and create a healthier balance between work and personal life.
1. Delegate Where Possible
You don’t have to do everything yourself. Hiring a good dental office manager to handle administrative tasks or outsourcing payroll and accounting can lighten your load.
By delegating non-clinical tasks, you can focus more on patient care and less on the business side of things.
2. Set Boundaries
Even though it’s hard to turn off “work mode” when you own a business, setting clear boundaries can help you manage stress. Designate specific times of the day when you won’t respond to work-related calls or emails. Having a work-life balance is essential for your mental health.
3. Invest in Systems
Invest in software and systems that make running the practice easier. Practice management software can streamline appointments, billing, and patient records, reducing the amount of time you spend on administrative tasks.
The right technology can make a huge difference in how smoothly your practice runs.
4. Build a Support Network
Talk to other practice owners or join a professional group where you can share your experiences and get advice.
Sometimes, just knowing you’re not alone in dealing with certain stressors can make a huge difference. Plus, you might pick up tips or strategies for handling specific challenges.
5. Consider Hiring a Consultant
If you’re feeling overwhelmed, it might be worth hiring a consultant who specializes in helping dental practices.
They can provide insights and help you identify areas where you can improve efficiency, reduce costs, or grow your patient base, which can take a significant amount of stress off your plate.
Conclusion
As an associate, your stress usually ends with the last patient of the day. As a practice owner, the stress follows you home. However, it doesn’t have to consume your life.
By assigning tasks, setting clear boundaries, building a support network, and even considering outside help, you can manage the stress and enjoy the rewards of running a successful practice.
Dental practice ownership is challenging, but with the right strategies, it can also be incredibly rewarding.
FAQs
- Is being a practice owner always more stressful than being an associate dentist? Not always, but it typically comes with more responsibilities that lead to ongoing stress. How you manage that stress can make a big difference.
- Can practice ownership be financially rewarding despite the stress? Yes! While it comes with financial risks, owning a practice can be highly rewarding if managed well, allowing for greater income potential and control over your career.
- How can I reduce the stress of owning a dental practice? You can delegate tasks, invest in management systems, and set clear boundaries to create a better work-life balance.
- Should I hire someone to manage the business side of the practice? Hiring an office manager or outsourcing certain business tasks can significantly reduce your stress and allow you to focus more on dentistry.
- What’s the biggest challenge of being a practice owner? The biggest challenge is balancing the clinical work with the responsibilities of running a business, which can feel overwhelming if not managed well.
