Help w/ 2 contract offers.

[MavsFanForLife]

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1. Big DSO. Crazy busy area (coastal SC). Base salary of 140k/year OR 25% collections. 2 year commitment. 30k sign on bonus. (20 first year and 10 second) Opening up a new practice w/ older/more seasoned doc. I feel like the area is growing rapidly. I would have (hopefully) a good mentor. And being in a 2 doc office in a new area, i think i would have the opportunity to get my speed up and make decent money! Liked the vibe, but did not LOVE it.

2. Small DSO. Smaller coastal town in NC. 2 year commitment. Base salary of 650/day OR 31% PRODUCTION. Area is definitely not AS busy as SC, but is still is decently busy. I would be the 4th doc to come in. The office had a good close knit vibe, really loved it. but coming in as a 4th doc scares me. I would have great mentorship around me, but I also want a good opportunity to have a good pt flow to set my self up for success.

 

[Roto Picante]

Right off the bat, being the second/less experienced doc in a practice with NO patients means it may be a very long while before you ever collect more than your daily minimum. Being the 4th dentist in a busy practice means there will be more to spread around.
48 weeks x 5 days x 650 = 156K which is >140k. Plus 31% Prod is way better than just 25% of collections. What am I missing here? Without more details, this seems like a no brainer to me.

 

[MavsFanForLife]

Right off the bat, being the second/less experienced doc in a practice with NO patients means it may be a very long while before you ever collect more than your daily minimum. Being the 4th dentist in a busy practice means there will be more to spread around.
48 weeks x 5 days x 650 = 156K which is >140k. Plus 31% Prod is way better than just 25% of collections. What am I missing here? Without more details, this seems like a no brainer to me.

I guess my thinking is, brand new practice is an extremely busy area may mean more opportunity for me than a 4th doc in an area that is not nearly as populated/ growing. The number 2 option did tell me the 3 docs are producing 4500 per doc a day on avg. But they are very experienced docs

 

[Saddleshoes]

Which town would you most like to live in?

 

[MavsFanForLife]

Which town would you most like to live in?

I wish i knew....Option A is Myrtle Beach SC so crazy busy. While B is Wilmington NC. On location alone, i would lean the quiter wilmington but i know my family would be happy in either one of those places.

 

[pubhealthdent]

Go with B. 25% collection is insulting. 4 docs in a busy office should not be a concern

 

[AONLINE]

Is the first option a denovo with Heartland? I know for Heartland you can try to negotiate for a higher guarantee than that $140k that you were offered. But personally I wouldn’t do a denovo with them so I’ll go with 2nd option…

 

[Roto Picante]

I guess my thinking is, brand new practice is an extremely busy area may mean more opportunity for me than a 4th doc in an area that is not nearly as populated/ growing. The number 2 option did tell me the 3 docs are producing 4500 per doc a day on avg. But they are very experienced docs

Mirtle beach is busy some of of the year. But a proverbial ghost town when the weather is poor. AND a lot of what you perceive as busy are just tourists from out of town, not long term patients. I just don't see it. Strongly in the 2nd option camp.

 

[Roto Picante]

I guess my thinking is, brand new practice is an extremely busy area may mean more opportunity for me than a 4th doc in an area that is not nearly as populated/ growing. The number 2 option did tell me the 3 docs are producing 4500 per doc a day on avg. But they are very experienced docs

Even if you only do 3000 a day, that is still $930 at 31% of production. Are there any other benefits/things to consider here? Do you have to pay back money earned when the daily minimum isn't met? Some contracts will make you earn back for the days you took the daily minimum when you didn't produce enough. Health insurance? Malpractice? Disability? Is there an unreasonable non compete clause in the contract? How long is the contract for if you hate the job? What has the turnover been in the 4 doc practice? Are you the umpteenth new doc taking this job with this DSO?

 

[princeafrica]

is the 25% collection Heartland Dental? Watch out for their draw

 

[BingDent]

Options 2 if you have to choose between the two.

Personally, I would hate the '2 year contract'. This means they can fire you, but you can't leave. Try to negotiate this 2 year contract to something like 30 day notice and be able to quit anytime.

 

[[email protected].]

Is the first option a denovo with Heartland? I know for Heartland you can try to negotiate for a higher guarantee than that $140k that you were offered. But personally I wouldn’t do a denovo with them so I’ll go with 2nd option…

I have the opportunity to do denovo w heart land. But I want to learn how to start a practice, take ce- so I'm ready to open a clinic. I will try negotiate $150k min 25% collection . But worried about draw.