Interviewer: Tanya Sue Maestas, DDS
Interviewee: Dr. Pamela Maragliano-Muniz
Edited By: Candy Velez – CRDH, BSDH
We had the pleasure of speaking with Dr. Pamela Maragliano-Muniz, who shared a personal financial mistake she made and how it shaped her approach to dentistry.
Dr. Maragliano-Muniz’s story serves as a valuable lesson for all dental professionals, highlighting the importance of trust, vision, and surrounding oneself with like-minded individuals.
The Challenge of Transitioning Ownership
In 2014, Dr. Maragliano Muniz purchased a dental practice amidst reluctance from the previous owner. This decision strained their relationship, hindering Dr. Maragliano-Muniz’s effective implementation of her vision.
The emotional tension stifled her practice’s growth for years. Struggling to find her voice and fearing disruption, Dr. Maragliano-Muniz hesitated to make substantial changes, keeping the existing team despite their misalignment with her goals.
This reluctance led to six years of stagnation and dissatisfaction, highlighting the struggle many dentists face when asserting their vision.
Dr. Maragliano-Muniz begins by recounting her experience buying a dental practice in 2014. The previous owner was reluctant to sell, but circumstances forced her hand.
Unfortunately, this led to a strained relationship between the two dentists. Dr. Maragliano-Muniz explains,
“She and I never really got along… I was the person that took her practice from her.”
This emotional tension created a challenging environment for Dr. Maragliano-Muniz to establish her vision for the practice.
Struggling to Find Her Voice
Feeling the need to maintain consistency for patients, Dr. Maragliano-Muniz hesitated to make significant changes to the practice. She explains,
“I felt it was important to maintain the team… However, they were her people, not mine.”
This hesitation to assert her vision and make necessary improvements led to six years of dissatisfaction and a feeling of being stuck.
The Pandemic as a Catalyst for Change
The COVID-19 pandemic provided Dr. Maragliano-Muniz with an unexpected opportunity for reflection. With three months of downtime, she realized that she wanted to be happier with the core of how her practice was being run.
She describes the moment of realization, saying,
“I felt like I was the captain of a sinking ship… My team is killing me.”
This revelation prompted her to make a bold decision during the pandemic: she parted ways with her entire clinical team.
The Financial Impact of Change
While the decision to let go of her clinical team was primarily a business one, Dr. Maragliano-Muniz acknowledges the financial implications. She admits,
“Little did I realize how quickly what a poor financial decision it was to keep them.”
However, despite the initial financial setback, 2020 was her practice’s best year ever. Dr. Maragliano-Muniz’s experience highlights the importance of surrounding oneself with a team that shares the same vision and values and people who will have your back and support your journey:
“In a situation like a pandemic, you quickly realize who your ride or dies are and who is not there you.”
Trusting Yourself and Finding Your Tribe
Dr. Maragliano-Muniz advises fellow dental professionals to trust themselves and be true to their vision.
She emphasizes the importance of finding a team that aligns with one’s core values, saying,
“Your team should have a similar vision to you.”
This alignment creates a harmonious work environment where everyone works towards a common goal. Dr. Maragliano-Muniz encourages dentists to take the time to define their vision and seek out like-minded individuals who will support their dreams.
The Journey to Practice Ownership
Dr. Maragliano-Muniz’s journey to practice ownership was challenging. She shares her experience as an associate in various practices, each with its own set of pros and cons.
However, she realized that if she was going to face challenges, she wanted them to be her own. This realization prompted her to take the leap and buy her own practice.
She advises aspiring practice owners to seek mentors and surround themselves with supportive individuals who can guide them through the process.
The Importance of Mentorship
Dr. Maragliano-Muniz highlights the value of mentorship in the dental profession. She mentions her own mentor, Dr. David Rice, and the support she receives from him.
She also mentions IgniteDDS, an organization that offers mentorship and guidance to dentists looking to purchase or start a practice.
Dr. Maragliano-Muniz encourages dental professionals to reach out to mentors and colleagues for advice and support, as their guidance can be invaluable in navigating the complexities of the dental industry.
Conclusion: Learning from Mistakes and Looking Ahead
Dr. Maragliano-Muniz’s story is a powerful reminder that mistakes can be valuable learning experiences.
By recognizing the need for change and taking decisive action, she was able to transform her practice and achieve unprecedented success.
Her journey highlights the importance of trust, vision, and finding a team that shares the same values. As dental professionals, we must trust ourselves, define our vision, and surround ourselves with supportive individuals who help us achieve our goals.
Thought Leadership Summary
Looking ahead, the future of dentistry holds endless possibilities for those willing to take risks and embrace change.
By learning from the mistakes of others and seeking guidance from mentors, dental professionals can navigate the industry’s challenges and create practices that align with their vision.
The key is to trust oneself, surround oneself with the right team, and never be afraid to make necessary changes to improve the practice and the patients it serves.
The journey to practice ownership may be challenging, but with the right mentors and a supportive team, success is within reach.
Until next time, keep learning, keep exploring, and fuel your dental dreams with knowledge!
