Partnership opportunities are an important consideration when deciding whether to join a dermatology practice. I’ve had a successful partnership for the last 20 years, and while we had some differences, they were easily resolved. As I reflect back, I see that there were some key features of our partnership that made it click.
Before you enter into a partnership, consider these factors as a test of whether or not the partnership is right for you:
You like the partners and have respect for them.
You will be spending a tremendous amount of time with one another, so liking and respecting your partners is an absolute must. I used to joke with my wife that I spend more waking time Monday through Friday with my business partners than with her. Just like any relationship, you have to be able to get along with those you spend time with. You don’t have to be best friends, but you have to like them as a person and, importantly, have professional respect for them. You want to make sure you are involved with someone who is a quality person, and someone you believe could take great care of your patients as you would theirs. Also look for someone who is willing to help you out when needed and willing, in return, to receive your assistance.
You have the same core values.
In our practice, patients always came first. It was the bottom line. That doesn’t have to be the core value of your practice – your values could include working hard, but not letting work take over every part of your life. However, if you don’t have the same core values, say you have one workaholic and one yoga-aholic, those two aren’t always going to get along and there could be conflict. Make sure you and your partners have the same core values.
You have the same work ethic.
Before joining a practice and as the practice evolves, make sure all partners agree to put in a similar number of hours and see about the same number of patients. Also, be sure to agree to the hours the practice will be open and the work to do “after clinic hours.” You want to make sure all partners are putting in the same effort. If you have someone who wants to work 3 ½ days a week and another who wants to work 5 days a week, conflict can arise. Something as simple as scheduling could lead to complex schedules and resentment among the staff.
Once you’ve entered into a partnership, it’s important to keep these guidelines in mind for success:
Have a collaborative, not competitive mindset.
Be prepared to assist one another because, inevitably, it is a medical practice and one patient will take longer than another. Help one another out when you can. See one of their patients if you are finished for the day. This helps not only the patient but also the staff so they can go home on time. Work together when possible.
If you’re tempted to be competitive, channel that to an appropriate venue outside the workplace, such as recreational sports. In dermatology partnerships, everyone is going to do well and you will have a rewarding career. Don’t put silly ideas of competition into the mix. Assist one another.
Support your partners.
Be prepared to provide emotional support when needed. Things happen in one’s lives. Someone might get sick, have a family crisis, or have a life changing event. You want to express that your partner is important to you and that you will support them and work this out. This may mean that you have to give more of yourself when your partner is having an unexpected event. You may need to see some of their patients, most certainly their patients who need follow-up care. Things usually return to normal. There is an appreciation that should occur between you for support and it will bond you together. When you have a partnership, you have to care for each other when needed.
Share your ideas openly.
A supportive partner also shares ideas. If a partner says they have a patient who is not doing well, you should feel comfortable discussing their care. Share ideas of what you’ve read in journal articles or seen presented at meetings. Intellectual collaboration, where you pitch ideas back and forth like any good scientist, greatly helps the patient because multiple minds and thought processes often result in the best outcomes. No dermatologist can know everything!
Ask questions and communicate.
If you are interviewing for a job that might lead to partnership, ask a lot of questions. Get to know the partners as people, and their vision for their practice and the future. Make sure you like them as you will be legally bound together. Go with your gut when interviewing. If a young person told me that they want to join a practice but they don’t have a very good feeling about the partners, I would say pay attention to your “inner voice.” If someone feels it’s “not right,” it’s best not to join because issues of compatibility are foundational. Once you have a good foundation, however, it’s very likely your partnership will be smooth sailing for many years. Always remember any good partnership has good communication.
