So, what happens to your staff if a DSO buys your practice?
If you are having this fear …
Or if your staff are feeling apprehensive,
Don’t worry.
It’s normal to feel this way, but I also want to explain why you don’t need to be concerned.
BUT, you do want to be cognizant of one important point.
First,Do you need to worry about your staff if a DSO buys your practice?
Here’s the thing. When a DSO is buying your practice, they understand that your practice is the way it is, and the way they expect it to grow, BECAUSE of you and your staff.
They have no incentive to muck with your people.
In most cases, you’ll certainly retain hiring/firing, and control over the culture, because they understand this is best for your business (and therefore, theirs).
The obvious things which will be affected include the name on their paycheck and how certain administrative and financial tasks are managed.
But compensation levels are almost never going to change. If it did, you’d have to be the one driving that change, as a DSO is highly unlikely to arbitrarily reduce compensation.
Your staff will actually benefit from the DSO partnership with increased opportunities for promotion through a larger organization, access to enhanced training and development opportunities, and a potentially much better benefits package.
But even if all the change is good, change is still challenging.
The most important thing you can do is communicate. Let everyone know you’re still going to be there (if you are), what they can expect to see differently, how they’ll benefit, etc.
If you keep open clear communication for everyone, you’ll have a smooth happy transition.
