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On the topic of $400,000 debt

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i was referring to new grad gp high end earners, the ones malkynn was talking about.

 

I'm guessing they went super super rural or were lucky enough to take over a family dental practice, or perhaps made a huge investment and bought an established practice from a retiring dentist, straight out of school in order to reach that kind of billing straight out.

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i was referring to new grad gp high end earners, the ones malkynn was talking about.

 

If you are comfortable and fast doing root canal and crown, you can be, but mostly they are in the non-metropolitan area. It will be unlikely in Toronto/GVR, maybe in Edmonton /Calgary because there is no fee guide

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So from most of these posts I have concluded that after graduation,what one really needs is business management skills besides the clinical skills. Besides opening up your own dental practise, is there any other way dentists can earn money?

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So from most of these posts I have concluded that after graduation,what one really needs is business management skills besides the clinical skills. Besides opening up your own dental practise, is there any other way dentists can earn money?

 

there are many ways one can earn money.

if you are talking about dental related, you can go into academic.

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Going into dentistry with the expectation of riches is a surefire way to be sorely disappointed, IMO. Faizah, there are better careers out there if you're looking for a short route to a fortune. Dentistry is not it anymore, unfortunately. It's not the goldmine it was in the 70s and 80s.

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Going into dentistry with the expectation of riches is a surefire way to be sorely disappointed, IMO. Faizah, there are better careers out there if you're looking for a short route to a fortune. Dentistry is not it anymore, unfortunately. It's not the goldmine it was in the 70s and 80s.

 

There are many factors that play into early success. Some students have parents who are looking to retire when they graduate. These students can just take over they parents practices and make a lot more than students starting off on their own.

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There are many factors that play into early success. Some students have parents who are looking to retire when they graduate. These students can just take over they parents practices and make a lot more than students starting off on their own.

 

Well, sure, but those people are the exception. I'm not sure what you're trying to say. The grand majority of people studying dentistry today do not come from so-called "dental families." Also, by "early success" I didn't mean acquiring a practice a few years earlier than your peers or being debt free when you graduate. Those are preliminary steps toward true financial success, as far as I'm concerned.

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There are many factors that play into early success. Some students have parents who are looking to retire when they graduate. These students can just take over they parents practices and make a lot more than students starting off on their own.

 

“I'm not sure what you're trying to say” + 1

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just gotta face the music, like someone said its not like it used to be 20-30 years ago where you'd graduate and have 5 dentists offering you full time jobs to choose from. Much like almost any other professional field there is now competition, the ratio has swung and there are 2-3 applicants per position. This may be new in dentistry but if you do a little research you will see it across the board, there are medical specialists that cant get jobs in major hospitals, there are law grads not getting jobs in firms in the city, there are PTs and OTs working that 3 or 4 different clinics just to make up full time hours. So stop worrying about money and glitz and just see which profession you can be best at because in this day and age you either gotta go rural or be damn good at what you do if you want a substantial income.

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just gotta face the music, like someone said its not like it used to be 20-30 years ago where you'd graduate and have 5 dentists offering you full time jobs to choose from. Much like almost any other professional field there is now competition, the ratio has swung and there are 2-3 applicants per position. This may be new in dentistry but if you do a little research you will see it across the board, there are medical specialists that cant get jobs in major hospitals, there are law grads not getting jobs in firms in the city, there are PTs and OTs working that 3 or 4 different clinics just to make up full time hours. So stop worrying about money and glitz and just see which profession you can be best at because in this day and age you either gotta go rural or be damn good at what you do if you want a substantial income.

 

well said

 

10char

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I took over a full patient load in a central location in Ottawa, not a family member, no investment, not rural. I was very lucky.

I do A LOT of crown and bridge and dentures, so even though my highest billing month was close to 60K, a good chunk of that was lab bill (significantly over 10K), and definitely not a typical month. So no, I did not take home 40% of 60K.

 

My average monthly billings are closer to high 40s, low 50s, again, minus lab bill and those are hefty when doing a lot of prostho.

 

considering that you have a full and busy patient base, and still have to pay a considerable amount of lab fees for crown, bridge and prostho makes me wonder if its even possible for associates to net $200K as some rural practices state...if one does a lot of resto and surgery, are high billings possible?

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considering that you have a full and busy patient base, and still have to pay a considerable amount of lab fees for crown, bridge and prostho makes me wonder if its even possible for associates to net $200K as some rural practices state...if one does a lot of resto and surgery, are high billings possible?

 

I can only talk about surgery, depends on what kind of surgery you are talking about. Extraction vs. sinus lift vs. perio surgery. Also, speed factors into everything.

 

Depends on how many cases and specific of surgery, on a slow day i bill at least 5k a day but I only work 6.5 hours.

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I can only talk about surgery, depends on what kind of surgery you are talking about. Extraction vs. sinus lift vs. perio surgery. Also, speed factors into everything.

 

Depends on how many cases and specific of surgery, on a slow day i bill at least 5k a day but I only work 6.5 hours.

 

are you finished with your residency? that's really good if you just started working as omfs. is the cut still 40% for you as well?

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are you finished with your residency? that's really good if you just started working as omfs. is the cut still 40% for you as well?

 

Done.... cut is negotiated, but typically for specialist is 50%+

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considering that you have a full and busy patient base, and still have to pay a considerable amount of lab fees for crown, bridge and prostho makes me wonder if its even possible for associates to net $200K as some rural practices state...if one does a lot of resto and surgery, are high billings possible?

i think you are misunderstanding the lab components. Crowns and bridges are billed at higher and it will include lab fees. It's not related to how busy you are booked. If you can do nothing but crowns for an entire day you will bill very high

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I can only talk about surgery, depends on what kind of surgery you are talking about. Extraction vs. sinus lift vs. perio surgery. Also, speed factors into everything.

 

Depends on how many cases and specific of surgery, on a slow day i bill at least 5k a day but I only work 6.5 hours.

 

sorry, i was referring to gp surgical procedures..as omfs, you guys bill much higher due to different fee rates. i was wondering about these procedures (exo, sinus, perio) from a gp fee rate perspective.

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sorry, i was referring to gp surgical procedures..as omfs, you guys bill much higher due to different fee rates. i was wondering about these procedures (exo, sinus, perio) from a gp fee rate perspective.

 

Actually it depends, OMS fee is not much higher in Ontario, actually at 2013 GP fee for removal of impacted dentition was higher than OMS fee. Well I have both GP and OMS fee guides, however, due to the copyright issue, i can't give you any further detail.

 

I would say some of the above procedure the rate different is less than 5% between GP and specialist fee (although, small numbers are greater than 20% diff)

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Actually it depends, OMS fee is not much higher in Ontario, actually at 2013 GP fee for removal of impacted dentition was higher than OMS fee. Well I have both GP and OMS fee guides, however, due to the copyright issue, i can't give you any further detail.

 

I would say some of the above procedure the rate different is less than 5% between GP and specialist fee (although, small numbers are greater than 20% diff)

 

true..the other thing is referrals though. you guys operate with high fee procedures mostly whereas im assuming, in the day of a gp's practice, one'd probably be doing mostly resto, exos and some prostho with occasional high billing procedures so im guessing thats the reason its probably much harder to almost impossible to bill $5000 per day as a gp associate

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