Dr. Leslie Paris answers questions about the career path she took after finishing her residency...

2005 Student Event: Scaling to New Heights in Periodontal Practice
STARTING YOUR OWN PRACTICE

Below is an interview with Dr. Leslie Paris.
PhotoLeslie J. Paris, D.D.S., is in practice in Fort Collins, Colorado. She completed her periodontal residency at Indiana University in 1997.

What is the most rewarding part of what you do everyday?

The patient care is the most rewarding.

What was your plan after graduation?

To associate and buy into a practice.

What made you consider starting your own practice?

Left associateship, looked at other practices and decided to start from scratch. (I wanted to stay in the area.)

What factors affected your plan and decisions about your career and future?

The two major factors that affected my plan and decisions about my career were my passion for periodontics and my love of patient contact.

How did you begin the process of starting your own practice?

Contacted a local dental supply company and searched for a vacant office.

What variables influenced your decision on location?

I moved to a new office after 4 years—central location, near several dental offices.

Did you meet with an attorney, practice consultant or accountant before pursuing a loan? Why or why not? What did they do for you and why was it beneficial?

Yes, I met with an attorney, accountant and practice consultant. The loan was through a dental supply company for 2 operatories and equipment.

How did you determine the financial requirements for starting a practice?

I determined financial requirements by budgeting equipment, supplies and rent.

How did you obtain financing?

For the starter office I borrowed a small amount from my mother and the remainder thru a dental supply company. For my new office building I obtained financing from Matsco & CITS Small Business Lending.

What risks were involved in starting your practice?

The main risk was having enough new patients to account for a cash flow that would cover expenses.

How did you assess and manage those risks?

I had to assess my current referral base and manage that risk by use of heavy marketing techniques—especially toward local hygienists. I also managed by paying myself a minimal salary for the first year so that money could be invested back into the practice.

What is your situation now?

Right now I still have my own practice and I built a new office—five operatories and 2800 sq feet—about three years ago.

How did you structure the practice’s finances in the beginning to pay the bills, yourself, staff and to buy equipment, etc.?

In the beginning I only had one staff member for the first six months. She both assisted and ran the front desk. I only bought 2 operatories to start; one was fully equipped and the other had only a light and chair with a roll cart for exams and post-op trays.

What financial issues or considerations came into play when planning for the future?

Several financial issues came into play. They included paying off student loans, keeping an excellent credit rating, being able to save for the down payment on a new office building and also save for retirement.

Using real or fictitious numbers, how did the realities of your finances compare to the plan you originally outlined?

I have exceeded my practice goals (annual) from the first year. I have seen positive practice growth every year.

What resources (i.e., people, publications, groups) did you find the most helpful?

Publications from the ADA on starting a practice were very helpful resources.

Given what you know now, what might you do differently?

I would have hired a practice consultant much earlier. I waited until my 5th year of practice.

What suggestions do you have for individuals considering starting their own practice?

Network, market and have a plan.

What was your biggest mistake starting out?

I really cannot say.

How many employees do you have?

I have six employees.

What is the most important thing you have learned about managing people?

You have to be able to say, “No” when necessary and stand your ground.

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