What kind of job dentists have

[xia101010]

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I read a lot of mention on buying dental practice etc. Is this what every one does? I know MD's generally work for hospitals or work in group or work for company like Keiser. Are such options there for dentists?

Buying a practice is putting one in deeper hole of loan that one already has. But what other options are there and how much is the salary from those? I have zero business background and look to work 9-5PM.

 

[bjpenn]

I currently work in a group practice as an associate. You could do that

 

[xia101010]

Is that a W2 regular employment with 10 days vacation with full benefits medical, dental 401k etc, which is the norm in US? I have not come across many people working as employee in this field. Few I shadowed were had own business(I assume) - is that the normal thing?

 

[bluesky12]

Are associate dentists usually independent contractors or employees?

 

[bjpenn]

I'm an independent contractor, and my sister is an employee. As and IC, I pay my own self employment tax, and my own payroll tax. I feel like I should be an employee because I use the office's equipment, materials, and staff. I show up to work 5 days a week at the same time, and I don't work anywhere else.

This is great for the company I work for bc they don't have to pay our employment tax, but sucks for us because I feel like an employee for the reasons I mentioned above. No 401k, no paid vacation time, no sick days.

 

[Incis0r]

I'm an independent contractor, and my sister is an employee. As and IC, I pay my own self employment tax, and my own payroll tax. I feel like I should be an employee because I use the office's equipment, materials, and staff. I show up to work 5 days a week at the same time, and I don't work anywhere else.

This is great for the company I work for bc they don't have to pay our employment tax, but sucks for us because I feel like an employee for the reasons I mentioned above. No 401k, no paid vacation time, no sick days.

Do you have plans to go into private practice eventually?

 

[xia101010]

I'm an independent contractor, and my sister is an employee. As and IC, I pay my own self employment tax, and my own payroll tax. I feel like I should be an employee because I use the office's equipment, materials, and staff. I show up to work 5 days a week at the same time, and I don't work anywhere else.

This is great for the company I work for bc they don't have to pay our employment tax, but sucks for us because I feel like an employee for the reasons I mentioned above. No 401k, no paid vacation time, no sick days.

Do you carry your own liability insurance, if yes how much you pay if I may ask? I work for finance company and a employee. I have friends that are IC and are required to carry - 4 insurances: liability, profession, error and omission and umbrella. This chews ups 5K a year I am sure for dentists these insurances or similar ones will add up lot more.

 

[bjpenn]

I do want my practice eventually. I look everyday for opportunties, drive around, but I just want to reduce my debt first. I've only worked at one medicaid office since I graduated and the patients are low-income, mostly kids. I remember in school that treating kids was really daunting, but I think adults are harder.
In my experience, adults complain, ask too many questions, and sometimes act like even bigger babies than kids. You end up focusing more on managing the patient than doing the dentistry. I dunno, I ask myself what kind of dentistry I want to do everyday: kids or adults.

The other thing is competition: What other profession do you know where you have to fork over 4-500k just to work when there is no telling how many patients are going to walk through your door? I want to take calculated risks, not just have a practice for the sake of having one.

The hard part is when I ask my colleagues who have opened, they will never tell you they are struggling, or the day in/day out issues they have to deal with. You just don't know what you don't know. There are a few things I don't like about my job, but I'm willing to put up for it a little longer because of the money.

I carry my own liability insurance, but its no more than 5k a year. In fact, I think its less.

 

[Incis0r]

In my experience, adults complain, ask too many questions, and sometimes act like even bigger babies than kids. You end up focusing more on managing the patient than doing the dentistry. I dunno, I ask myself what kind of dentistry I want to do everyday: kids or adults.

Hahaha this is funny. Sorry- I'm sure it's annoying but it amazes me that even adults can require so much manageable. How frequently does this happen?

The other thing is competition: What other profession do you know where you have to fork over 4-500k just to work when there is no telling how many patients are going to walk through your door? I want to take calculated risks, not just have a practice for the sake of having one.

I hear you. So your strategy is to kill all of your debt first, establish a reliable stream of income, have easily manageable bills, and then go for your practice? Sounds low-risk!

The hard part is when I ask my colleagues who have opened, they will never tell you they are struggling, or the day in/day out issues they have to deal with. You just don't know what you don't know.

I hear you about this. Never considered that before. Thanks for bringing up this point!

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