Best States to Practice Dentistry

[jokersmiles]

I understand that California, New York etc are suffering from saturation.

What are some of the best states/cities to work in with high salaries to help pay off loans?

I tried searching SDN but couldn't find solid answers.

Thank you!

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[Scumbag_Steve]

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[Cold Front]

I understand that California, New York etc are suffering from saturation.

What are some of the best states/cities to work in with high salaries to help pay off loans?

I tried searching SDN but couldn't find solid answers.

Thank you!

Are you willing to go to the least saturated areas in the country and make a big money? I'm talking real rural, no major city within 3-4 hours drive. Most of the states have such areas, and you should manage all your financing well there (very low cost of living, small city taxes, no major expenses on socializing, etc).

Example... I have a friend who moved to Peioria, IL. Corn-town America type of a city. Started an office from scratch, paid off all her school debt in 2 years. Now, that she did make the money, she wants to move to a big city and move on, but she can't find a buyer for her office. She gets depressed in the winter, loneliness and lack of socializing. It can take a big toll on young dentist's mind.

Just work hard and live close to a big city (upto 1 hour drive radius). Best of both worlds.

 

[Incis0r]

Are you willing to go to the least saturated areas in the country and make a big money? I'm talking real rural, no major city within 3-4 hours drive. Most of the states have such areas, and you should manage all your financing well there (very low cost of living, small city taxes, no major expenses on socializing, etc).

Example... I have a friend who moved to Peioria, IL. Corn-town America type of a city. Started an office from scratch, paid off all her school debt in 2 years. Now, that she did make the money, she wants to move to a big city and move on, but she can't find a buyer for her office. She gets depressed in the winter, loneliness and lack of socializing. It can take a big toll on young dentist's mind.

Just work hard and live close to a big city (upto 1 hour drive radius). Best of both worlds.

How much school debt did she have?

 

[endoaccess]

I was looking at practices for sale recently on one of the brokers sites. I noticed practices in Arkansas seemed to be doing particularly well. Many very profitable practices for sale. But you live in Arkansas. Might not be a good fit for everyone.

 

[Screwtape]

Are you willing to go to the least saturated areas in the country and make a big money? I'm talking real rural, no major city within 3-4 hours drive. Most of the states have such areas, and you should manage all your financing well there (very low cost of living, small city taxes, no major expenses on socializing, etc).

Example... I have a friend who moved to Peioria, IL. Corn-town America type of a city. Started an office from scratch, paid off all her school debt in 2 years. Now, that she did make the money, she wants to move to a big city and move on, but she can't find a buyer for her office. She gets depressed in the winter, loneliness and lack of socializing. It can take a big toll on young dentist's mind.

Just work hard and live close to a big city (upto 1 hour drive radius). Best of both worlds.

Lol Peoria has like 300,000 people in the area. Not sure if I'd consider that "real rural".

 

[Cold Front]

Lol Peoria has like 300,000 people in the area. Not sure if I'd consider that "real rural".

lol So it seems. I have never been there, but I have heard its in the middle of nowhere.

 

[Cold Front]

How much school debt did she have?

Probably $250-300k. Her office produced $700k first year, about $1M the following year. She utilized an in-house denture lab, and was able to offer competitive and affordable denture cases.

 

[Incis0r]

Probably $250-300k. Her office produced $700k first year, about $1M the following year. She utilized an in-house denture lab, and was able to offer competitive and affordable denture cases.

Wow, a start-up producing $700K in year one? That's fantastic (i'm assuming collections was 90%+)
Did she do an AEGD or go straight in? Do you know if she used DentalMaverick or Breakaway?

 

[Daurang]

Probably $250-300k. Her office produced $700k first year, about $1M the following year. She utilized an in-house denture lab, and was able to offer competitive and affordable denture cases.

If she's producing $1M+, she'll want $1.5M for her practice + real estate $. Who out of school of school can afford or can qualify for that?

The only viable option for a newbie is to get a $200k loan and build an practice right across her place, then rake in the bucks. Notice how Walgreens or CVS or RiteAid are always located across each other and they all do fine?

 

[Cold Front]

If she's producing $1M+, she'll want $1.5M for her practice + real estate $. Who out of school of school can afford or can qualify for that?

The only viable option for a newbie is to get a $200k loan and build an practice right across her place, then rake in the bucks. Notice how Walgreens or CVS or RiteAid are always located across each other and they all do fine?

You are abosuletly right. It's interesting how much the selling dentist wants to sell his/her practice without considering the buyer's options. Unfortunately, some lenders are willing to lend high loans for existing high grossing practices, so they can maximize their interest in the deal. Apparently, the default rate in the industry is next to none, so this would ultimately pinch the uninformed buyer the most if they bought a $1M practice.

 

[Cold Front]

Wow, a start-up producing $700K in year one? That's fantastic (i'm assuming collections was 90%+)
Did she do an AEGD or go straight in? Do you know if she used DentalMaverick or Breakaway?

Not sure to all of the above.

 

[cmcner]

States with good Medicaid fee schedules open up a ton of potential desirable patients that are missing in states with bad Medicaid fee schedules. It decreases competition even for doctors who don't take Medicaid because you don't have every dentist chasing after the same tiny group of patients to the same degree. Medicaid fee schedules can be found on google if you want to compare.

 

[Cold Front]

States with good Medicaid fee schedules open up a ton of potential desirable patients that are missing in states with bad Medicaid fee schedules. It decreases competition even for doctors who don't take Medicaid because you don't have every dentist chasing after the same tiny group of patients to the same degree. Medicaid fee schedules can be found on google if you want to compare.

Good point. Obamacare comes to mind, for states which fully embraced and expanded the Medicaid program to many patients that were missing in the dental service. Some even flipped from private to Medicaid after the new and raised poverty line guidelines. It is what it is, but dentists will have more patients to see, and for some at a reasonable Medicaid fee schedule.