Hi everyone, I'd love some advice. I just graduated this May and have been speaking to a private practice about an associate position. It would just be me and the owner dentist. She is offering $11,000/month for the first 90 days (no lab fee during salary period), then 32% of collections along with 32% lab fee + $100 per in house milled crown. I've been told by my dental school instructors that the lab fee is crazy, but I find myself between going to work for a private practice that I really like vs corporate. She gave me a second option that is $12,000/month for the first 90 days, but I would be paying the lab fee in this 90 day salary period as well as afterwards when it changes to collections. I'm not sure which is the better offer or if I should just try to look elsewhere. I don't want to sell myself short. Any feedback will be much appreciated!
Need Advise with contact (new 2024 grad)
- Thread starter coconutz
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Let’s take a look at aspects of this that are negotiable:
1) The monthly payment ($11,000)
2) The length of the guarantee (90 days)
3) The percentage of collections (32%)
4) The lab fee (32% and $100 per crown)
Little pigs get fed. Big pigs get slaughtered. You don’t want to negotiate everything to the point she loses interest in you as an associate, but pick what is important to you and negotiate that. Starting out you may be more worried about the guarantee. She would probably be willing to extend it to 180 days to give you some more time to get your feet on the ground. But in the long run, once you get established, the percentage of collections is going to be what makes you your money. It would probably be a more wise long term decision to negotiate it up to 35% collections with you paying 35% of lab fee. Once you’re established and out producing the minimum you should be making well over $11,000 per month.
As for reference the outside lab that I use charges me $50 per crown. If you owe $35% of that that would be $17.50 per crown. Paying $100 per crown is very high.
If she isn’t willing to negotiate on anything, walk. There are better job opportunities out there. Figure out what percent of production is collected by the office. Close to 98%? Good. 70%? Run.
And make sure she actually has enough patients for you. The reason that I’m successful is because there is a large enough patient base for me. If you’re sitting around doing nothing 35% of 0 is 0.
And to actually answer your question, you don’t want to be stuck paying the whole lab fee after you switch to collections. I probably average a lab fee of around $6000 per month. If you pay 35% of that that comes to $2,100 per month. I’d rather save $3,900 per month on the lab bill for the duration of the job than make an extra $1,000 the first 3 months.
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If you cut a crown, what is the lab fee? Is it just 100 dollars for the milled crown? Or is it a lab fee PLUS 100 dollars for the milled crown?
