An expense sharing agreement allows two or more dentists to work alongside one another in a practice, sharing expenses such as rent, utility bills, costs of shared equipment and the wages of staff. This can offer a lot of flexibility and has many benefits, financial and otherwise. However, it is important to establish clear boundaries in terms of patient lists and personal assets.
An expense sharing agreement will have many of the advantages of a traditional partnership such as enabling a dentist to benefit from interaction and support from other dentists in a professional environment. A dentist will also still have independence and the freedom that comes with being the sole owner of the practice.
If you rely only on an informal, verbal agreement you could face costly, time-consuming problems if things do not go as smoothly as you would like or you are unable to resolve disagreements. In an environment where a number of professionals each have their own plans, obligations, aspirations and expectations it is highly unlikely that everyone will agree all of the time.