Going from residency to full-time business owner is a big leap. Over the years, many people have asked, “Why don’t they teach doctors how to deal with the business aspects of running an orthodontic practice when they are in school?” The truth is – there is not enough time or resources. The orthodontist who wants to own their own practice must rely on others to help them make that leap successfully.
Bentson Clark & Copple’s newly released 2014 Resident Survey reports that only 14% of current residents feel his or her orthodontic program has done a ‘very good’ job in preparing him or her for the business aspects of owning a practice. On the other end of the spectrum, 20% rank his or her program as doing a ‘poor’ or ‘very poor’ job.
It is often heard from residents that they receive very little training in owning a practice and rely on conferences, lunch & learn presentations and attending regional or national meetings to gain knowledge and information. The Bentson Clark & Copple team understands the need to educate the resident population outside of the clinical setting. That is why we are happy to announce a new educational partnership with Ormco.
Ormco is known within the orthodontic community as a company that builds trusted relationships with orthodontists, providing a breadth of innovative products and solutions to enhance their professional lives. Bentson Clark & Copple is committed to helping orthodontists achieve their career objectives through successful practice transitions, at both the beginning and end of one’s career. In conjunction, this newly-created partnership directly targets the resident community to offer guidance before they become submerged in the myriad challenges of practice ownership.
As part of this partnership, the Bentson Clark & Copple team will present a one-hour co-branded education webinar to each orthodontic residency program in the United States. With the help of Ormco’s outstanding sales team, each residency program is anticipated to be reached by the summer of 2015. The webinar will discuss the following: transition timelines, current market data, common types of practice transition, major factors in price/value, practice activity trends, practice overhead and expense data.
Our endeavor is to help educate the future leaders of the orthodontic community, provide useful data and help residents make smart decisions about his or her future plans. Overall, both companies hope this undertaking will increase the level of satisfaction residents have in regard to their preparation for the business aspects of owning an orthodontic practice.