money money

[ADentalHopeful]

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k, i was just doing some chemistry and then this thought hit me. I always heard a half decent/average overhead is around 60%, does that include paying your employees?
so say..like if your practice brings in a million then you get to keep $400,000
guess since im still quite far away from owning a practice/being in dental school then i shouldnt get too excited yet, but still.. thats like 200 and hour 😱

 

[Quattro DMD]

There's other posts on here about this. I think the overhead for a general dentist is more like 75%. I know in my area the average salary for a private practice dentist thats been in the game for a while is like 177K. I think thats part of the reason why orthos make so much money because they have a smaller overhead. But I'm going into community health so I'm gonna be coasting at 90K for a very long time...haha.

 

[SugarNaCl]

Wow! A million dollar practice? I'll work for you!!! Pick me 😉 I thought really good practices often only netted 1/2 of that.

 

[Hysteria24]

k, i was just doing some chemistry and then this thought hit me. I always heard a half decent/average overhead is around 60%, does that include paying your employees?

It was funny picturing trying to picture this ...(as the revelation had absolutely nothing to do with what you were working on at the time).

 

[GoBlueJays]

I have one case study; the dentist I work for here in Maryland. He suggests that 65% is overhead, however, it was his father's practice so perhaps he has some leasing benefits. He has 4 chairs with no hygienist as he does all his own prophys.

Keep in mind when you say "keep 400,000" that is gross income so you will only keep 60% (or less depending on state income tax) of that revenue. The rest will go to the careful, trustworthy, omniscient, managers of funds called the government.

Regards,
Representative of the Dept. of Govt Accountability aka GoBlueJays

 

[ADentalHopeful]

lol yeah.. i have a chem midterm next week, and ugh, so boring! so i was trying to find a motivation i guess haha...
and im pretty sure some practices can make like even 1.5 mill.
i mean they'd definitely have to be full time, none of that 3 days a week dental offices. My dentist is open saturdays and i think that definitely helpful because that becomes the busiest day. lotsa business. mhhmm.

 

[SugarNaCl]

lol yeah.. i have a chem midterm next week, and ugh, so boring! so i was trying to find a motivation i guess haha...
and im pretty sure some practices can make like even 1.5 mill.
i mean they'd definitely have to be full time, none of that 3 days a week dental offices. My dentist is open saturdays and i think that definitely helpful because that becomes the busiest day. lotsa business. mhhmm.

Mmmm... I think you really have to look at what kind of dentistry. Correct me if I am wrong. ADA including specialists who own practices make on average (mid-career) 270K. Since specialists make more than GDPs generally, I'm not sure a $1 - 1.5 million practice is truly "typical". I think in special cases with practices that hire multiple dentists you could get there, but it is the norm or the average? I somehow am skeptical... but we aren't going into it for the $$ anyway, so it doesnt matter... right? 😉