Jump to content
Premed 101 Forums

Recommended Posts

who cares ? just pick the profession you like, neither are going hungry. Im assuming however that their hirer billings are compensated by having more workers to pay. any time i have been to the dentist there are a variety of denist techs who do 90% of the work, and the dentist just comes in for minimal time 

 

Yea I'm just curious but as for choosing a profession, as long as it's healthcare related I'm ok with it. 

Link to post
Share on other sites

Overhead. Overhead in dental could range from 40% to 75% with most falling somewhere between 50-65% in established, well-oiled practices. And if you work as a dental associate, the % pay you get from production is 30-40% (depends on your offer) or a base plus percentage if you exceed a production goal. Thus, you make half or more likely much less than half of what you bill as a dentist.

 

Overhead for FM practices is about 30% and for specialties could range from 0 (think EM) to 25% (maybe more if it's private practice and these are more expenses). 

 

So yes the amount you bill is much higher in dental on average but overhead evens some of the playing field. The overhead comes from lab costs, staff wages, rent, debt repayment of practice (yes some factor this into overhead but it is an expense), purchasing new equipment, advertising, and etc. 

 

Also, consider insurance write-offs could be higher in dentistry (expect to collect about mid-90% of what you produce).

 

Overall, healthcare professions are solidly compensated. Don't choose solely on compensation and choose based on interest. And the average dental specialist bills much more than 650K (900K was what the ADA posted but it is likely similar in Canada especially without Medicaid). 

Link to post
Share on other sites

Overhead. Overhead in dental could range from 40% to 75% with most falling somewhere between 50-65% in established, well-oiled practices. And if you work as a dental associate, the % pay you get from production is 30-40% (depends on your offer) or a base plus percentage if you exceed a production goal. Thus, you make half or more likely much less than half of what you bill as a dentist.

 

Overhead for FM practices is about 30% and for specialties could range from 0 (think EM) to 25% (maybe more if it's private practice and these are more expenses). 

 

So yes the amount you bill is much higher in dental on average but overhead evens some of the playing field. The overhead comes from lab costs, staff wages, rent, debt repayment of practice (yes some factor this into overhead but it is an expense), purchasing new equipment, advertising, and etc. 

 

Also, consider insurance write-offs could be higher in dentistry (expect to collect about mid-90% of what you produce).

 

Overall, healthcare professions are solidly compensated. Don't choose solely on compensation and choose based on interest. And the average dental specialist bills much more than 650K (900K was what the ADA posted but it is likely similar in Canada especially without Medicaid). 

 

there are a few places where the overhead is higher in med - I mean as an example the overhead for rads for instance in a community imaging centre is a huge fraction - well over 50%. Same with ophthalmology :) 

 

You point is valid of course though - compensation is far from terrible :) 

Link to post
Share on other sites

there are a few places where the overhead is higher in med - I mean as an example the overhead for rads for instance in a community imaging centre is a huge fraction - well over 50%. Same with ophthalmology :)

 

You point is valid of course though - compensation is far from terrible :)

 

Absolutely Rmorelan (yes sorry about my lack of knowledge on overhead in medicine). 

 

Yeah, the point is compensation is what you make of it (especially in dental where no one can tell you how much you can earn because it is dependent on what your fees are and how many patients you see and how you manage overhead and write offs). If you work hard, the sky might be the limit. But you would probably also be burned out. That's why interest in what you do is such a huge factor to avoid burn out.

Link to post
Share on other sites

Yes, I think staff wages are a very important factor because dental practise that bill a lot more than likely have 2-3 hygienists generating a good portion of the income. 

 

The rule of thumb for hygienists is that they can bring in anywhere from 1/4 to 1/3 of the annual production of a practice. Assistants ($40/hr would not surprise me) and front desk staff are very expensive as well. To really do "well", you will need to either do a great volume of procedures as the doc or do the more profitable ones (ortho, implants, etc.).  Can't rely on just hygiene but it can help quite a bit (which is why dentists generally see a significant uptick in production once they add another hygiene into their practice). Just make sure everyone (incl. the doc) is busy!

Link to post
Share on other sites

The rule of thumb for hygienists is that they can bring in anywhere from 1/4 to 1/3 of the annual production of a practice. Assistants ($40/hr would not surprise me) and front desk staff are very expensive as well. To really do "well", you will need to either do a great volume of procedures as the doc or do the more profitable ones (ortho, implants, etc.).  Can't rely on just hygiene but it can help quite a bit (which is why dentists generally see a significant uptick in production once they add another hygiene into their practice). Just make sure everyone (incl. the doc) is busy!

 

That's very true. Are you a dentist or a dental student? you seem to be very knowledgable 

Link to post
Share on other sites

Another reasons doctors seem lower is their billings are not included on the salary disclosures you see online.

 

Yea, but the number I posted above (350k) is their average billings. Out of that they must pay for their expenses and deduct the taxes and that's their net income. Same with dentists but their expenses are usually more. 

Link to post
Share on other sites

Another reasons doctors seem lower is their billings are not included on the salary disclosures you see online.

 

Yup, 100% agree with that. Billings for privatized procedures (in derm, ophtho, etc.) are not included so the numbers should be higher in those circumstances. Overhead, as Rmorelan noted, could be 50% for rads and ophtho and around 30% for FM practices, I'm not sure about other circumstances. :)

Link to post
Share on other sites
  • 2 weeks later...

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
×
×
  • Create New...