OMFS corporate versus private practice

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thewingman

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In my 3rd year of residency and starting to consider jobs. I wanted to get more information - pros and cons regarding traditional private practice with eventual buy in versus corporate (traveling within the city). It seems that there is more encroachment from DSOs into the traditional aspect of OMFS. Also general Dentist are becoming more keen in having Omfs come to their practice. Do y’all see the traditional practice model slowing down? And of course, what is the earning potential (first year and after buy in) between corporate and private practice?

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All good questions that have been asked many times here. It all depends on how you want to practice. I would say that MOST if not all dentists and specialists chose dentistry for the autonomy, lifestyle and ability to open your own practice. Working in a Corp as an employee is a job. Nothing more. Nothing less.

After 26 years of private practice .... I currently work as an employee in a Corp office mostly as a way to SIMPLIFY my life. But I am on the tail side of my career. It's different if you are just starting out. For myself .... working in a Corp setting is SO STRESS FREE. I show up. Do my work. Leave. That's it.

Yes ... the Corp chains are encroaching on EVERYTHING. The Corp practice I work for has EVERY specialist there. After going to a Corp meeting .... I listened to their CEO discuss their future plans. They are going after Pedo practices now. They are buying them quickly. So the Corp chains are here to stay. I envision the large Corporate Dental Chains gobbling up all the smaller, less capitalized chains. It's already happening. Consolidation.

As for working for a GP/Specialist in their office? Not for me. I didn't go to DS school to work for another dentist, but that's just me. It's unfortunate that it has come to this IMO. Back in the day .... you earned the trust of the GP to treat their patients. Now the GP's want a cut of that referred revenue. If this was a rural area where you had to travel to a remote town .... then I could understand working out of a dentist's office. But I would rent or share space with that dentist.

In large urban popular cities ..... saturation will be commonplace. It's in these saturated areas where the private practice model will have the hardest time.
 
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All good questions that have been asked many times here. It all depends on how you want to practice. I would say that MOST if not all dentists and specialists chose dentistry for the autonomy, lifestyle and ability to open your own practice. Working in a Corp as an employee is a job. Nothing more. Nothing less.

After 26 years of private practice .... I currently work as an employee in a Corp office mostly as a way to SIMPLIFY my life. But I am on the tail side of my career. It's different if you are just starting out. For myself .... working in a Corp setting is SO STRESS FREE. I show up. Do my work. Leave. That's it.

Yes ... the Corp chains are encroaching on EVERYTHING. The Corp practice I work for has EVERY specialist there. After going to a Corp meeting .... I listened to their CEO discuss their future plans. They are going after Pedo practices now. They are buying them quickly. So the Corp chains are here to stay. I envision the large Corporate Dental Chains gobbling up all the smaller, less capitalized chains. It's already happening. Consolidation.

As for working for a GP/Specialist in their office? Not for me. I didn't go to DS school to work for another dentist, but that's just me. It's unfortunate that it has come to this IMO. Back in the day .... you earned the trust of the GP to treat their patients. Now the GP's want a cut of that referred revenue. If this was a rural area where you had to travel to a remote town .... then I could understand working out of a dentist's office. But I would rent or share space with that dentist.

In large urban popular cities ..... saturation will be commonplace. It's in these saturated areas where the private practice model will have the hardest time.
Your ego’s too big to work for another dentist but not too big to work for an MBA/Econ/Finance grad?
 
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Your ego’s too big to work for another dentist but not too big to work for an MBA/Econ/Finance grad?

YEP. Even when I graduated .... my intent was partnership leading to immediate ownership within 1-2 years. I was NOT going to work for another dentist/specialist PERIOD. Partnership gave me equal power and ownership along with all the benefits of working with a seasoned dentist/orthodontist/etc. Bought that practice in 18 months, said goodbye to the original orthodontist and started another practice from scratch along with buying real estate to house a second start up during the next 5 years. After 26 years of doing things MY WAY ... the thought of answering to a dentist/specialist is not an option for myself. Call it ego, pride or just being older and set in my ways.

Sold my practices, but I still own the real estate for one practice. I now work for Corp because it is convenient. 3-4 days per week. Yes .... I work for an MBA/Finance/etc, but that person(s) is invisible to me. Trust me. No one is hovering over me telling me what to do. I do my job well and I'm essentially left alone. If I worked for another ortho .... most likely I would be given all the bullsh*t work to do. Staff would look at me like I was a second class citizen. I would have to hear the constant ... "Well, Dr. So and So does it this way". NO THANKS. Not for me.

Working for a GP. Not going to happen. Spent years catering and kissing a** for those referrals. Now I need to work for a GP? I'll pass.

If I was a new grad GP or Specialist .... if I didn't partner up with a contracted buyout in 1-2 years .... my direction would be Corp PT and then start my own practice. Then dump the Corp job.
 
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Wise words, 2TH MVR. As someone in a similar situation to you, I agree completely.
 
Wise words, 2TH MVR. As someone in a similar situation to you, I agree completely.

My wife and I are specialists and we work for GPs. The GPs usually treat you as an equal because they don’t know anything about ortho and they let you make decisions on everything…tx plannings, patient scheduling, ordering supplies/equipment, choosing the days you want to work etc. When you work for an orthodontist boss, he/she usually treats you like an employee because you are just an inexperienced new grad. One major plus of working for a Corp office is large patient volume, which helps give you more work days….and make more $$$.

If you are a new grad and have high student loan debt, don’t be picky....get as many work days (at GP offices, Corp offices, specialist offices) as you can. The more patients you treat, the more experience you will gain, and the quicker you will reach your goal of being financially independent.

OP, sorry for not answering your questions.
 
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Thank you all for your replies. Does anyone have additional information that is specific to OMFS? Does anyone have financial information of working at a corporate office versus private office as an associate?
 
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