STARTING YOUR CAREER
Which ‘door’ will you choose?
By Timothy Gay, DC

What do you plan to do once you have earned your doctor of chiropractic degree?

Just like in certain game shows, you have three “doors” from which to choose: Door No. 1: Immediately open your own practice; Door No. 2: Become an independent contractor; or Door No. 3: Become a paid associate.

Each has its pros and cons.

OPEN YOUR OWN PRACTICE

Opening a practice is appealing: It offers you complete freedom to run a business and a clinic as you would like to do. You follow your own philosophies. And the potential financial rewards are attractive.

But, it has its drawbacks. It requires financial outlay at a time when you may already be in debt for school loans. Because of the financial risk, this option is generally not a wise choice unless you have a family member who is a chiropractor or a mentor in a successful practice who can coach you. The problems encountered in the day-to-day operation of a clinic require a certain amount of experience in dealing with patients, managing staff, and running the business of the practice.

If you have the experience and knowledge (and financial backing) to open and run a business and the clinical knowledge and adjusting skills to “hit the ground running,” this choice may be right for you.

If you don’t, then one of the other two choices may be the answer for you.

INDEPENDENT CONTRACTOR

As an independent contractor, you rent space in another practice or share an office with another chiropractor. Being an independent contractor also has its share of pros and cons.

• You are able to run your practice the way you want. Often, an independent contractor does not duplicate the other doctor’s techniques or protocols unless both doctors agree on these areas.

• You can set your own hours of practice. Your schedule is independent. Some contractors make themselves available at times when the other doctor is not in the office.

• You may share staff and equipment. This means you do not have to have a big cash outlay at the start of your practice.

• You may be paid a percentage of the collections or services rendered. Depending upon your financial arrangement, this may be a plus or a minus.

• You incur some overhead expenses. It is better to have your own phone line and a person to answer the phone. You also have to pay your own malpractice insurance.

PAID ASSOCIATE

A paid associate is an employee of a practice. She or he works for another established chiropractor.

This option gives you the most security, but you give up any semblance of independence. The tradeoff for security may also be lower pay.

Working for another doctor has its share of pros and cons:

• You learn how to run a practice. This is the best way to learn how to run your practice. In an associateship, you have the opportunity to work with a senior doctor and learn some of the finer points of running a practice.

• Pay programs vary. You may be paid a percentage or a salary, depending upon your negotiation with the doctor.

• You ‘own’ no patients. You come to the practice with no patient base, and all patients you attract to the clinic belong exclusively to the clinic — not to you.

• You have no overhead expenses. Because you are working for an established doctor and helping build that practice, the clinic director pays all overhead expenses incurred by you.

• You have specific working hours. The clinic director may work a short workweek, but that may not be true for you. Your working hours are specified.

• You learn a practice system. This is one of the biggest benefits of working as an associate — learning to manage a business. You learn how to duplicate every system and aspect of the practice.

WHICH IS RIGHT FOR YOU?

Associating or contracting with the wrong doctor can be a bad experience. Best advice: Do not sign a contract for the first 30 to 45 days. Instead, consider a trial working arrangement to see if personalities, techniques, and philosophies are compatible.

Timothy J. Gay, DC, is a  veteran of chiropractic health and wellness. The founder of Ultimate Practice, he is a nationally recognized speaker who holds many seminars around the country on a variety of topics. He can be reached at 866-797-8366, at timothygaydc@ultimatepractice.com, or through his Web site, www.ultimatepractice.com.