Experience - First five years out of school

[periopocket]

You don't have to believe me, and I hate being questioned, so here's some pics of my car when I first got it. Reverse image search these if you don't believe that these are original.

Yes, I have two other cars and I did blur out the license plates because I am a little paranoid,

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I'm having a clear bra and other things installed all around right now, so when I get it back, I'll make sure to dedicate the post just for you.

So ill!


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[Jay 4 jay]

Awesome post


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[gunner4ever]

In the first year how did you make 286 when your salary was 132?

 

[Trollest]

You don't have to believe me, and I hate being questioned, so here's some pics of my car when I first got it. Reverse image search these if you don't believe that these are original.

Yes, I have two other cars and I did blur out the license plates because I am a little paranoid,

View attachment 218811 View attachment 218812 View attachment 218813 View attachment 218814

I'm having a clear bra and other things installed all around right now, so when I get it back, I'll make sure to dedicate the post just for you.

Wow, how much is that car?

 

[Garett24]

To get out of debt the fastest should I do NHSC H2S? Or just corporate? Thanks! 400k

 

[321931]

My experience has been different.

Year 1 worked in Ca made about 110-120k working 5-6 days a week
Year 2 worked in Ca made about 120-130k
Year 3 switched states made about 180k
Year 4 ownership went into debt but doubled my associate income to 200-300.

Out of all my dental friends I keep in touch with... I’m doing the probably above average out of all of them. Most of them working/jumping associateships making 150k and student loans and no practice which means no equity etc. Most working 5-6 days a week. But most are at the stage of looking to buy a practice.

Tanmans post is great but that is a total outlier in my opinion. Most of my friends work 5 days making 150k. If you have a class size of 100. Maybe 10 of those 100 will be at tanmans level.

 

[Medin2017]

My experience has been different.

Year 1 worked in Ca made about 110-120k working 5-6 days a week
Year 2 worked in Ca made about 120-130k
Year 3 switched states made about 180k
Year 4 ownership went 1 mil in debt make about 300-350k after paying off loans

Bought a house and practice about 1.7 mil in debt. No student loans. Hope to pay it off in about 10 years. Work 4 days a week.Go big or go home.

Out of all my dental friends I keep in touch with... I’m doing the BEST out of all of them. Most of them working/jumping associateships making 150k and student loans and no practice which means no equity etc. Most working 5-6 days a week. But most are at the stage of looking to buy a practice. Ironic right?

Tanmans post is great but that is a total outlier in my opinion. Even me...I consider myself an outlier. Most of my friends work 5 days making 150k. If you have a class size of 100. Maybe 10 of those 100 will be at my level or tanman

Honestly I remember we conversed about general dent vs specializing and this just confirms my opinions. I don't want to be the #1 dentist out of a vast majority of dentists just to beat out a specialist when I can be a an average specialist and beat out 95% of general dentists in income or stability.

Edit: Also I recall you using yourself as an example of a dentist beating specialists and how it's all gravy in the general dentistry world. Your classmates definitely tell a very different story (how I predicted life would be for most dental students 2-5 years out of school- glad I was correct in that assumption).

 

[321931]

Honestly I remember we conversed about general dent vs specializing and this just confirms my opinions. I don't want to be the #1 dentist out of a vast majority of dentists just to beat out a specialist when I can be a an average specialist and beat out 95% of general dentists in income or stability.

Edit: Also I recall you using yourself as an example of a dentist beating specialists and how it's all gravy in the general dentistry world. Your classmates definitely tell a very different story (how I predicted life would be for most dental students 2-5 years out of school- glad I was correct in that assumption).

I do think that as a specialty you can work as an employee or as a small business owner and make really good money. As a GP, you cannot work as an employee and make money, you have to go own the business route and that's why perhaps I'm partial to the GP over specialty route because you don't really need to go into specialty to make money...as long as you can run a small business you can make just as much. And that's why I always tell everyone, do what you like, don't do it for the money. I could never do Pedo, even though they rake in money. I guess thats why your point of view does hold some truth as its much easier to be an average specialist and be comfortable over a successful GP dentist. So we do agree on this point.

 

[InformMe123]

@Rainee do you know any other friends who bought a practice like you and how they are doing with their practice?

 

[321931]

@Rainee do you know any other friends who bought a practice like you and how they are doing with their practice?

Really is a toss-up. Most of my friends are still associates. I know one guy upper class man a year ahead of me, setup shop in Arizona working on snowbirds doing implants as a GP all day. Does all extractions and places all implants. Refers to os when it’s only proximity to nerve or whatever. Makes a killing but he was always a gunner. Top 10 in class sorta guy. I always refer to him for help for clinical and business decisions. Another guy who was a year ahead of me did a startup few years ago... dunno how he’s doing but I think he would of been better off as an associate (setup in saturated area)

The consensus on DT and majority of the conversations I’ve had there is that it’s really a tossup if the practice is a home run or crapshoot or just middle of the road. There’s a lot of luck involved with finding the right practice and hoping you mesh with the patients and staff well. I think I transitioned fine. There were bumps but nothing bankrupt-worthy. It’s really a huge conversation to go into but it really depends on luck, personality, capability as a leader, financial everything. To pinpoint just to one quality or thing to success is way understating it. I only know of one other person and they failed but they weren’t my classmate. They were pretty crappy as a dentist and had no business sense.

 

[DDS9994]

Really is a toss-up. Most of my friends are still associates. I know one guy upper class man a year ahead of me, setup shop in Arizona working on snowbirds doing implants as a GP all day. Does all extractions and places all implants. Refers to os when it’s only proximity to nerve or whatever. Makes a killing but he was always a gunner. Top 10 in class sorta guy. I always refer to him for help for clinical and business decisions. Another guy who was a year ahead of me did a startup few years ago... dunno how he’s doing but I think he would of been better off as an associate (setup in saturated area)

The consensus on DT and majority of the conversations I’ve had there is that it’s really a tossup if the practice is a home run or crapshoot or just middle of the road. There’s a lot of luck involved with finding the right practice and hoping you mesh with the patients and staff well. I think I transitioned fine. There were bumps but nothing bankrupt-worthy. It’s really a huge conversation to go into but it really depends on luck, personality, capability as a leader, financial everything. To pinpoint just to one quality or thing to success is way understating it. I only know of one other person and they failed but they weren’t my classmate. They were pretty crappy as a dentist and had no business sense.

AHA!!! I thought you sounded familiar, your on DT a lot, your name gave it away, LOL.

 

[smoothoperator1]

Rainee, where are you located if you don't mind me asking?

Also, what is your procedural mix at your office?

What do you attribute to the success of your office?

 

[321931]

Just being a good dentist, trying your best with patients, being honest and being personable. Buying the right office is key. If you buy from a cosmetic dentist that bikes 5000 miles a day and has a 6 pack with 12 veneers...and you yourself are a country guy with "normal" teeth and like to fish...that's not going to work. Find a personality of a dentist that is like you, and you will most likely have success as that owner attracted patient's that "like" him, and the more similar you are the better you will be. If you are laid back and talk alot with patients then find that dentist that is the same way.

Dentistry at it's core is a hard job. There is good months and bad months. This month seems to be bad...lots of cancellations. But it's okay. You are in it for the long run, so don't get down about it, it comes in cycles and averages out. overall I'm happy with the job and I chose the lower stress route. Everyone's goals are different and you need to know what makes you happy in order to make dentistry work for you. If 12 chairs with 2 docs is the way for you...then go for it... if talking to 40 patients a day and doing simple dentistry is the way for you, then go for it. If specialty is the way for you, then go for it. That's what will make you successful in the end. Knowing what you want.

Last edit: i know it’s crazy to think that the motto of “do what you like to do” will work... but it will. You can’t change yourself to be someone else. You just have to be comfortable in your own shoes and do what you like to do. I don’t like dealing with post ops and possible gorey surgeries so difficult omfs and perio And endo get referees out. I maybe get one emergency call a month and it’s a simple my filling broke can you come in sorta deal. I like my life simple. So don’t chase the benjamins, chase what makes you happy and keeps you alive. If it’s pedo, omfs, endo or just simply a “family practice” you will do fine. I really don’t recommend associating though. Make your own practice and make your vision and be happy.

 

[kingme23]

I do think that as a specialty you can work as an employee or as a small business owner and make really good money. As a GP, you cannot work as an employee and make money, you have to go own the business route and that's why perhaps I'm partial to the GP over specialty route because you don't really need to go into specialty to make money...as long as you can run a small business you can make just as much. And that's why I always tell everyone, do what you like, don't do it for the money. I could never do Pedo, even though they rake in money. I guess thats why your point of view does hold some truth as its much easier to be an average specialist and be comfortable over a successful GP dentist. So we do agree on this point.

Could you elaborate on how this is accomplished? Aside from being the next Aspen dental owner and opening a bunch of offices. I'm always interested in hearing how GPs have been able to reach that level of income, when comparing solo GP vs solo OS. I've seen docs on here say that they'll hit 4K production on a good day....that's like 2 wizzie cases for an OS lol.

 

[schmoob]

Could you elaborate on how this is accomplished? Aside from being the next Aspen dental owner and opening a bunch of offices. I'm always interested in hearing how GPs have been able to reach that level of income, when comparing solo GP vs solo OS. I've seen docs on here say that they'll hit 4K production on a good day....that's like 2 wizzie cases for an OS lol.

People have a hard time getting out of the mindset of only being able to produce so much, therefore there believing there is a limit on their earning potential.
When it comes to business, the wealthy have people making money FOR them. Yes, an OS will easily outproduce a GP. But when factoring in business savvy, it's a different ballgame.

 

[321931]

People have a hard time getting out of the mindset of only being able to produce so much, therefore there believing there is a limit on their earning potential.
When it comes to business, the wealthy have people making money FOR them. Yes, an OS will easily outproduce a GP. But when factoring in business savvy, it's a different ballgame.

+1.

 

[kingme23]

People have a hard time getting out of the mindset of only being able to produce so much, therefore there believing there is a limit on their earning potential.
When it comes to business, the wealthy have people making money FOR them. Yes, an OS will easily outproduce a GP. But when factoring in business savvy, it's a different ballgame.

Aka bringing in specialists to work in-house? If it were that easy, why isn’t almost every GP doing that? This may sound naive I’m just not familiar with running a practice.

 

[wgodw1]

All the extremely wealthy GPs I know are only doing implants, wisdom teeth, and other high-profit procedures. They just took the CE classes they needed to be able to do these things and they’re reaping the rewards.


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[schmoob]

Aka bringing in specialists to work in-house? If it were that easy, why isn’t almost every GP doing that? This may sound naive I’m just not familiar with running a practice.

I understand, it's not naive.

I apologize if I oversimplified, it is much more complicated than that. There are many more variables and lots of business models. I meant it more conceptually.

 

[321931]

I understand, it's not naive.

I apologize if I oversimplified, it is much more complicated than that. There are many more variables and lots of business models. I meant it more conceptually.

Aka bringing in specialists to work in-house? If it were that easy, why isn’t almost every GP doing that? This may sound naive I’m just not familiar with running a practice.

+1. It would be like teaching a business class 101...it's complicated at first, but makes sense later. Focus on the big picture and utilize your professors at clinic to teach you business management. Use the CE that school sometimes hosts for lunch and learn and learn OH and metrics. Find a mentor and let them teach you things in dentistry and the business side to. It will all make sense later.

 

[Snowpack]

I would like to have it paid off in under 5 years.

Vasco, what was your practice grossing when you purchased it, and how much did you purchase it for?

 

[medicaldepot]

A quite long experience you been having in this field, Keep up the great work!