Case Study: Dr. Matt Harmon
Purchasing Two Practices as a New Grad and Making them Shine
Dr. Matthew Harmon was at a crossroads in the early part of his career and needed a coach to help him sort it out. A recent dental school graduate who had excelled in his program at Midwestern University College of Dental Medicine in Glendale, AZ (elected as class president his 3rd year and student body president his final year) he simultaneously worked as an associate for two different practices in the Phoenix area. Both of the owner doctors were interested in him buying their practice. But both practices were entirely unique from each other in terms of the cultures of the practice, clinical styles and communities served.
Dr. Harmon knew Bob on a personal basis and approached him to help analyze the two practices. He wanted this additional insight to provide an initial recommendation as to which would be the best fit for him in terms of his clinical character, personality style, and financial goals. They arrived at the conclusion that the practice in Sun City West, AZ with Dr. Fred Davidson as owner, would be the best fit matching Dr Harmon’s long-term and short-term goals. Tragically, Dr. Davidson was in a sudden motorcycle accident, leaving him disabled. With this news, Dr. Harmon became the full-time doctor overnight.
Dr. Harmon continued to work full time, but still acted as an associate to see how he could grow the practice on his own and whether or not the practice would match his personality style and personal goals. As time passed, it was clear Dr. Harmon made the perfect fit, so Bob began the negotiating for the practice purchase.
While all this was occurring, another practice owner, Dr. Robert McCall, who’s office was less than a half mile from Dr Davidson’s office, was put into contact with Dr Harmon saying he was interested in selling his patient charts as he planned to retire soon. He offered promising connections that were sure to help expand the practice. Bob skillfully negotiated the different arrangements, and ultimately with the agreement of transferring both Dr McCall’s patient charts and his staff to Dr Harmon the transition was finalized and two practices became one.
Bob was also involved in negotiating the many facets of the transition including acting as liaison between the accountants, practice consultants, the bank, attorneys, two different lease agreements (which Dr Harmon was taking over), and helping to demystify the language of the two practice purchase agreements for Dr Harmon. Dr Harmon is quoted as saying “I could not have imagined this transition having gone any smoother. Bob was masterful at doing what he does best and that is to make things happen. This challenging and complicated transition was put together with skill and great ability by a man who understands the business side and the people side so very well.”
After the purchase and transitions were complete, Bob coached Dr. Harmon on the integration of both practices, specifically on uniting the new team and accommodating the new clientele. Bob taught him how to lead his new practice, as well as how to achieve his personal and financial goals through the process. He also trained and taught Dr. Harmon’s team, reinforcing the principals that would ensure long term success: unselfish teamwork, skilled communication, scheduling by design, exceptional patient systems, unrivaled patient care and conflict resolution. The integration was successful, with 75% of Dr. McCall’s patients transferring to Dr. Harmon’s new practice and 100% of the existing staff and patients staying. Since this time, Dr. Harmon has continued to experience 25-30% growth each year, and cultivates loyalty within his team and clients.
Bob is still actively training both Dr Harmon and his team and looks forward to their frequent in office training sessions.