How did you know you were ready for partnership?

[drusso]

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What's the best "test" of a candidate's partnership material...push-ups, Jager shots, ability to work under pressure?

 

[Malayil]

I would offer partnership for someone who brought value to the practice .

Being somewhere doesn’t mean you get partnership, it means you were an employee.

If someone showed initiative, growth, understanding of the business etc

 

[DrSpine]

At this rate, if one can even get it. Seems to be more rare. At least in major metro areas, I've seen many promise it, then come up with excuses later or sell to PE.

 

[Agast]

There seem to be a number of practices where the owner never finds anyone good enough to become partner. High turnover rate when the new guy wisens up to what’s going on.

 

[Baron S]

I would offer partnership for someone who brought value to the practice .

Translation: someone willing to buy in at some made up valuation

 

[MitchLevi]

Translation: someone willing to buy in at some made up valuation

Should be easily proven math based off the financials.

 

[Orin]

Does it matter these days when partnership just means a slightly larger cut when you sell out to PE/VC?

 

[bubaghanush]

Translation: someone willing to buy in at some made up valuation

Should be easily proven math based off the financials.

Haven't you seen SpaceX? Math and fundamentals don't matter for valuation anymore. It's all vibes.

 

[MitchLevi]

Haven't you seen SpaceX? Math and fundamentals don't matter for valuation anymore. It's all vibes.

Not in a medical practice. What did you bring in the last x years, what is the overhead, etc.

I get your point though. I did not buy any SpaceX at the IPO, I will in another 5M or so.

 

[drusso]

Should be easily proven math based off the financials.

What about personality, cultural fit, and "vibe?"

 

[MitchLevi]

What about personality, cultural fit, and "vibe?"

Priceless, the only thing that matters.

Partnership is overrated in many practices.

 

[SpineandWine]

Surgeons are way more likely to give partnerships to each other than pain physicians would to ea h other
They treat their own much more kindly

I’d never trust a pain physician for “partnership” status

 

[BobBarker]

I don’t know how to make someone partner when I will still need to make every business decision and make sure everyone gets paid.

 

[SpineandWine]

For me atleast- I became equal partner from ortho docs. I make almost no business decisions (although neither do 3/4ths of the group). I would love to be involved though as I think I can truly add value atleast for office billing.

I’d make a doc equal partner as pain physician if they brought in own territory of patients/had referral patterns they themselves set and were interested in discussing business side of things.

Distinguishing partnership from profit sharing here