Starting own practice, Other options

[DrugPusher]

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I know the majority of dentists open their own practices or join the practice of a family member. But what is someone without connections to do? I after all the debt from schooll, i hardly want to take out more loans to establish a practice. But I also need a job that will pay enough to pay pack the loans. Do hospital dentist get paid well?? How about dentists that are part of a chain?? Hopefully I do well enough to get an ortho residency, but I am just worried about my options.

 

[eric275]

I know the majority of dentists open their own practices or join the practice of a family member. But what is someone without connections to do? I after all the debt from schooll, i hardly want to take out more loans to establish a practice. But I also need a job that will pay enough to pay pack the loans. Do hospital dentist get paid well?? How about dentists that are part of a chain?? Hopefully I do well enough to get an ortho residency, but I am just worried about my options.

You can always work as an associate, which means that you work for a dentist that owns the practice. Your basically an employee. Most of the associates I know are paid according to thier production, typically a set percentage. It can be a good way to get some experience and also start putting some money in your pocket while also giving you time to determine your future plans. It is common for graduates to take over a practice by first starting as an associate, and then buying out the retiring dentist several years later if that is your desire. Or you could just work as an associate your entire career.

 

[airvent]

Or you can join the Navy or Airforce..they pay all tuition and you have a job waitng for you when you graduate. Pay is moderate, but living expenses are paid for. You gain alot of experience, and you serve your country.
😀

 

[shopaholic]

Hopefully I do well enough to get an ortho residency, but I am just worried about my options.

If you don't do well enough to get into conventional ortho, there's always Ortho Education Company. They'll pay for your residency at UNLV, CO, or FL, and then pay you as an associate for 7 years after that. It's more money than you'll make as an general dentist (even one that is established), but obviously not as much as you'd make as a private orthodontist.

 

[gomphodont]

If you don't do well enough to get into conventional ortho, there's always Ortho Education Company. They'll pay for your residency at UNLV, CO, or FL, and then pay you as an associate for 7 years after that. It's more money than you'll make as an general dentist (even one that is established), but obviously not as much as you'd make as a private orthodontist.

am curious to know what OEC is paying associates. do you have any stats? from what i remember, like associating, their compensation is also production based.

 

[DrugPusher]

how tough is oec to get? Its seems like a good deal so i would think pretty competitive as well.

 

[ISU_Steve]

Or you can join the Navy or Airforce..they pay all tuition and you have a job waitng for you when you graduate. Pay is moderate, but living expenses are paid for. You gain alot of experience, and you serve your country.
😀

As a former service member, 👎 I strongly advise against this approach. I've stated them several times on here, but if anyone wants a refresher, just PM me.

 

[etoolky1]

I've heard that establishing a private practice is the best way to make good money.
Have you thought about possibly going out to talk to dentist (making connections) in the area that would be willing to split the overhead/supplies with you? The doctors I currently work for split overhead (they consider themselves partners) what about finding a partner in d. school? The options are endless. I've heard military and hospital work sucks.

 

[shopaholic]

am curious to know what OEC is paying associates. do you have any stats? from what i remember, like associating, their compensation is also production based.

Their first offices are opening this summer so no stats yet. It is production based, but you do have that safety net of 150,000 year. Seeing as how most orthodontists have at least 1 mil in production per year, I'd say you should be making at least 250,000...a lot more if you're good. There are 36 residency spots per year, and it's definitely not as competitive as other programs since you do have to commit to associating for 7 years. But for 250K/year, I'd gladly be an employee.

 

[nothen2do]

Their first offices are opening this summer so no stats yet. It is production based, but you do have that safety net of 150,000 year. Seeing as how most orthodontists have at least 1 mil in production per year, I'd say you should be making at least 250,000...a lot more if you're good. There are 36 residency spots per year, and it's definitely not as competitive as other programs since you do have to commit to associating for 7 years. But for 250K/year, I'd gladly be an employee.

even though its going to ruin the dental field's self autonomy. Read the debate in the dental forum, very controversial.

 

[juggamynugga]

you won't be making 250,000 don't kid yourself

 

[shopaholic]

you won't be making 250,000 don't kid yourself

They're going to flood the market with tv, magazine, and radio ads. Their waiting rooms are going to be filled with people just dying to hand over $6000. 250k is a very conservative number since 1mil gross is very reasonable. I honestly could care less what effect OEC has on the field of orthodontics as long as I get paid. It's not like what has happened to the medical field. These practices are still privately owned by dentists.

 

[crazy_sherm]

I honestly could care less what effect OEC has on the field of orthodontics as long as I get paid.

Way to support the community! You're awesome! 👍

 

[shopaholic]

Way to support the community! You're awesome! 👍

Thank you, and don't forget to join the ADA, your state dental association, and your local chapter. It's very important that we have power in numbers.

 

[nothen2do]

Thank you, and don't forget to join the ADA, your state dental association, and your local chapter. It's very important that we have power in numbers.

I'm pretty sure crazy sherm was being sarcastic.

 

[souperman]

I honestly could care less what effect OEC has on the field of orthodontics as long as I get paid.

You could care less, so you care a lot about it and your level of care could drop. OR you don't really care about it at all so you COULDN'T care less. Sorry I hear and see this all the time and has become a pet peeve of mine. If you don't care about somthing the phrase should go that you couldn't care less about somthing not that you could care less. (getting of my soapbox now)

 

[shopaholic]

I'm pretty sure crazy sherm was being sarcastic.

I know, but I was also over exaggerating when I said that I didn't care about the community. What's important to me is that dentistry remains private and doesn't go the way of HMO's. I don't want other people who aren't dentists telling me what I can or can't do. That's why I think everyone needs to join organized dentistry. I want the field of dentistry to be highly regarded and remain lucrative. But I also believe in competition because that is what will keep us all in check. That was my point.

 

[nothen2do]

I know, but I was also over exaggerating when I said that I didn't care about the community. What's important to me is that dentistry remains private and doesn't go the way of HMO's. I don't want other people who aren't dentists telling me what I can or can't do. That's why I think everyone needs to join organized dentistry. I want the field of dentistry to be highly regarded and remain lucrative. But I also believe in competition because that is what will keep us all in check. That was my point.

You want dentistry to remain private, yet you don't care about OEC (a publicly traded company) that not only saturates the market with orthodontists but also has an unethical system of admitting students who sign a 7 year work contract. My point is that companies like OEC are bad for dentistry, whether it affects you personally or not!

 

[shopaholic]

You want dentistry to remain private, yet you don't care about OEC (a publicly traded company) that not only saturates the market with orthodontists but also has an unethical system of admitting students who sign a 7 year work contract. My point is that companies like OEC are bad for dentistry, whether it affects you personally or not!

OEC is just another dental chain owned by a dentist. These dental chains fulfill a niche, and whether or not you want to be a part of it is your decision. I personally think they are good stepping stones...you obviously don't. We'll just have to agree to disagree.

 

[airvent]

OEC fills a niche like McDonalds does. Soon they'll be employing Dentist for cheap as they squeeze out independent dentists. The way CVS and other corporations squeezed out the indepedent pharmacies. MBAs run the show, and their concern is the bottom dollar for themselves not the employees(you)

 

[shopaholic]

OEC fills a niche like McDonalds does. Soon they'll be employing Dentist for cheap as they squeeze out independent dentists. The way CVS and other corporations squeezed out the indepedent pharmacies. MBAs run the show, and their concern is the bottom dollar for themselves not the employees(you)

I didn't mean for this to be an OEC debate. I just wanted to mention it as another possible option. As for squeezing out the independents...I guess that's possible. And maybe they'll treat me badly, but then again maybe I'll learn something from these MBA's so that when I start my own practice I won't make huge mistakes.