Welcome to the FAKTR podcast, where we talk about the stuff they didn't teach you in school. How to grow your practice, refine your clinical skills, and get better results for your patients. We're here to help you navigate the real world challenges of being a health care provider. From delivering top notch patient care to running a business that doesn't run you into the ground. Whether you're fresh out of school or scaling your practice, we're diving into effective cutting edge treatments to get patients better faster. We'll also talk about business strategies and tactics to help you work smarter and not harder, and the mindset shifts required to thrive as a top performer in your field so you can build a career you love without burning out. If you're ready to learn what works and what doesn't, from leading experts, industry innovators, and respected clinicians across a wide range of specialties, you're in the right place, my friend. Let's dive in.

Hi there. Welcome back to the FAKTR podcast.

I'm your host, Jessica Riddle. And today, we're diving into part two of our business focus series with doctor Lisa Goodman. In our last episode, we explored the career defining question of whether to become a practice owner, an associate, or an independent contractor, and what those decisions really look like in the real world. Today, we're shifting gears a bit and taking a closer look at the associate practice owner relationship from the inside out. Doctor Goodman will share some practical strategies for structuring compensation, navigating salary negotiations, and how to create a long term partnership that benefits both the provider and the practice. Whether you're hiring your first associate or negotiating your first contract, this episode is packed with actionable insights you can put into practice right away. Let's jump in.

So little breath there, and then let's move on to what associates' responsibilities are. So jumping back to the job description, associates have a responsibility to negotiate their compensation prior to accepting the job. If there's anything they don't like in their job offer, their hours, their pay, the required farmers market extent, they should negotiate that before they start. Everyone can be really excited to accept a job offer, especially right out of school, But this is the time. If your owner really likes you and they've narrowed it down to you to where they've offered you a job, ask right then and there for what you want. They could easily say no to you, and they probably will, especially if you have a short list. But that is the time for the action plan. So you say, hey.

I know you offered me a base of 50,000 with a percentage. I would love it if you would offer me a base of 90,000. They might say, well, I actually agree that you deserve to make 90,000, and here's how that's gonna happen. And I think this can happen in the first six months based on your percentage, and here's what I'm gonna commit to help you make that happen. If by the end of six months we aren't there yet, let's regroup and figure out what we both need to do to make that happen. So that's more of an action plan and open communication. But an easy one might be, hey. You get one week of paid vacation, and you say, hey.

My family lives on the East Coast. I'd really like two weeks of paid vacation. Nine times out of 10, they're gonna agree to that. So make sure you ask for what you want before starting the job. It's honestly, it is easier to negotiate because, like we said before, you may not have an opportunity to have that meeting for another year. Why do I do that? It just it really does distract everybody when associates have a good week and they constantly want to change their arrangement. And we really should be focusing on patient care, and we'll look at that arrangement again in a year. Associates also have a responsibility to show up with integrity.

Do what you say you're going to do. This goes to the job description. If you sign the job description and you love the practice and the owner, show up every single day doing your absolute best work with integrity. Integrity, I have two teenage boys, means doing what you say you'll do when no one's looking. Right? When nobody else is around, you're still practicing as the the best that you possibly can. So there are gonna be days as an associate where your owner's not around, and potentially, you're also in charge of or working independently with other staff in the office. Integrity is huge, so associates have a responsibility to show up with integrity. Associates also have a responsibility to communicate well.