Issue link: http://cp.revolio.com/i/142672
merging practices By Lloyd Manning Most of the massage and bodywork profession is an uncoordinated patchwork of one- and two-person practices, each trying to capture a fair share of the existing market. While effective for many, this is not always economical and can even be a waste of talent and resources. In today's economy, consider adopting a more modern model. Although there are some drawbacks, merging with one or more competitors is a way to beat the odds in tough times. Advantages Client satisfaction and retention, as well as exemplary service, are musts for massage practitioners hoping to survive in today's business environment. A merged practice of several therapists, each with different skills, can offer an even wider range of services for those clients you're trying to keep. For example, one therapist may be more interested in sports massage, another in craniosacral work, and another in infant massage or reiki. In a larger practice, therapists are in a better position to provide specialized and remedial services to clients, effectively opening the door to a variety of clients seeking more directed work. Handling the clients most interested in your area of expertise, while passing others to an office mate, allows you and your coworkers to grow within your specialties while meeting the clients' needs. Other advantages to merging practices include a greater ability to adapt to changing circumstances and improved negotiating skills with insurance companies, managed care organizations, and other third-party payers. Many professional practices are merged for synergistic reasons, primarily financial. The group benefit is greater than the sum of the individual practices. Economies of size often create cost savings. Greater use can be made of the fixtures and equipment, waiting room, office area, bathrooms, storage, and common areas when they are shared. There will also be less duplication of ancillary and clerical staff, services, billing systems, and the pooling of financial resources. Challenges When partnering with others, you'll face some challenges. The new structure may not eliminate all of the problems faced by individual therapists. In fact, it could exacerbate some. Efficiencies are not created by the merger alone, but by the participants who must now commit themselves to operating as a harmonious group. The principal challenge is incompatibility with other merging partners and differing expectations of what the merger will accomplish. If the objectives are fuzzy, the results will be, too. Not everyone is a team player. Yet, this is what each must be if the merger is to be