Recent Graduate--Ask me Anything

Discussion in 'Dental' started by italianstallion2008, Jul 18, 2018.

  1. doktorinprogres

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    Can I ask if you have any good reads for disecting financial statements? It's kind of curious you say that b/c theoretically dentistry has really favorable business margins. My understanding is that's the reason private equity money is being funneled towards corporate dentistry.
     
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  2. coldicecream

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    i'm a business major so they just teach us how to read them, evaluate a business (usually large corps) through different ratios. sorry, don't really have specifics reads.

    i also assumed dentistry would have favorable business margins after shadowing and doing mental math of the dentists production along with checking out the costs of supplies. I was just shocked to see how some practices are being sold but have horrible margins. This could be tunnel vision though since successful practices wouldn't put "For Sale" ads if they are doing well lol

    I still have some reading to do myself on business in dentistry, but I wouldn't be surprised in private equity is being put into corporate dentistry. In the past five years, I've seen so many of those pop up.
     
  3. doktorinprogres

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    I'm jealous, being a business major is going to give you a decent leg up in terms of really understanding that side of dentistry.
     
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  4. coldicecream

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    i'm glad i knew back in high school that I didn't have to major in a science. ;)
     
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  5. OP
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    italianstallion2008

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    Hey everyone. Just as a wrap-up for the year and for the sake of transparency..

    I was handed my W-2 for 2018 today. First one as an associate dentist.

    Total income for 2018: $123,323.11
    Weeks worked: 32 (M-F)
    Days off within that time: 22 + weekends
    Average compensation per day worked: $893.64

    Happy New Year to all.
     
    #55 italianstallion2008, Jan 2, 2019
    Last edited: Jan 2, 2019
  6. coldicecream

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    DANG! So basically 5K a WEEK
    How's the buy-in process going?
     
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  7. AppalachianDentalBoy

    AppalachianDentalBoy SDN Bronze Donor
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    I appreciate your willingness to continue answering questions and the updates
     
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  8. Firik

    Firik Connection is the Key!

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    Can you share the total tax you paid? Thanks
     
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  9. REACHOn

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    You are an inspiration. Thank you so much for sharing your journey with us and congrats on the baby who is keeping you busy now :) I've been worried about how I can live with a debt of around 420k. Your success story gives me hope and will allow my brain to put more attention into getting through dental school.
     
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    italianstallion2008

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    I'll be happy to post my taxes as soon as I complete my tax return for this year. Still several tax documents rolling in over the next several weeks, but I know I overpaid by a few thousand and have a couple tax credits for the kiddos coming my way. Stay tuned.
     
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  11. Pedopearls

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    Question: why buy 50% if he is moving out of town and you are the only doc? Why not offer to buy the entire practice or set up shop down the street..., if no other dr is there the patients and staff will follow... unless you have a noncompete but doesn’t seem like that would hold up if the practice closed.... just curious. Also 50/50 partnerships are hard.... they usually don’t end well... Would you buy the other 50% at a designated time? Like 6 months or 1 year later? It sounds like you could run this office on your own...
     
  12. buffdentist

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    How were you able to get this job? When you applied did the employer ask for your gpa or rank? Did they ask to see you do a trial on patients before committing to you? I’m just so curious how you got such an amazing and well paying gig and avoided corporate dentistry. I’m a 3rd Year dental student, and trying to figure out how to bolster my resume. Thanks for taking the time to make this thread! It’s so helpful!


    Sent from my iPhone using SDN
     
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  13. Medin2017

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    What was the hardest part about transitioning from dental school to practicing in the real world?

    If you could go back to dental school, from first to fourth year, what are things you would have done differently to make life easier now?

    What are some things that surprised you in the real world as opposed to dental school, both good and bad?

    Thanks for doing this.
     
  14. 2TH MVR

    2TH MVR Orthodontist
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    I'm curious about this also. Especially if the owner is moving OOS. I would buy the entire practice. As for setting up shop down the street .... I would be really surprised if the associateship contract did not include a non-compete covenant. That is just basic knowledge in associateships/buy-sell practices agreements.
     
  15. youngsushi

    youngsushi Hip-Hop/Rap Artist

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    Would you mind sharing how much debt you were in after dental school and how much in monthly payment you paid towards student loans?
     
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  16. cloth_alert00

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    How did you feel about more complicated procedures when u graduated like molar endo, bridges, veneers, placing/restoring implants, full mouth restos and basically all the stuff dental students don't get much practice on? I'm a D3, and most D4s at my school are about to graduate with not having done any of those mentioned procedures. Do you think AEGD/GPR would be worth it before starting?
     

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