Why do people say dentists make more than doctors?

[rdn837]

There is a broad spectrum of earning potential both in medicine and dentistry which rests on two major variables: specialization and ownership.

For example, a GP MD makes 200K/year (but needs 11 years of schooling) while a Pediatric Nephrologist makes 600K/year (but needs 16-17 years of schooling). DDS makes 170K/year (but needs 8 years of schooling) but an OMFS makes 400K+/year (but needs 12 years of schooling). There is little variance meaning that a particular specialization may have a different salary but it won't differ by more than 10K or so.

In Canada, it is important to remember that medicine isn't privatized and it is government funded. Universal health care essentially fixes MD income by speciality. Alternatively, DDS is not government funded and prices are fixed by the DDS himself/herself. This means that two DDSs in two separate practices can offer the same services for very different prices whereas there is a "standard price" for MD services. These DDS service prices can change based on how many years the practice has been established, the reputation of the practice/practitioners, how saturated the local marketplace is with other DDS practices, where the DDS practice is located, DDS advertizing, DDS overhead (dental assistants, hygenists, receptionists, office cleaners) and non-essential DDS asthetics (for example, a commitment to a more naturopathic approach). The ability of the dentist to potentially build his or her own practice and optimize these ownership variables is what ultimately makes Dentistry in Canada potentially far more lucrative than Medicine.  It is a different story in the US.

 

[JohnGrisham]

8 hours ago, rdn837 said:

There is a broad spectrum of earning potential both in medicine and dentistry which rests on two major variables: specialization and ownership.

For example, a GP MD makes 200K/year (but needs 11 years of schooling) while a Pediatric Nephrologist makes 600K/year (but needs 16-17 years of schooling). DDS makes 170K/year (but needs 8 years of schooling) but an OMFS makes 400K+/year (but needs 12 years of schooling). There is little variance meaning that a particular specialization may have a different salary but it won't differ by more than 10K or so.

In Canada, it is important to remember that medicine isn't privatized and it is government funded. Universal health care essentially fixes MD income by speciality. Alternatively, DDS is not government funded and prices are fixed by the DDS himself/herself. This means that two DDSs in two separate practices can offer the same services for very different prices whereas there is a "standard price" for MD services. These DDS service prices can change based on how many years the practice has been established, the reputation of the practice/practitioners, how saturated the local marketplace is with other DDS practices, where the DDS practice is located, DDS advertizing, DDS overhead (dental assistants, hygenists, receptionists, office cleaners) and non-essential DDS asthetics (for example, a commitment to a more naturopathic approach). The ability of the dentist to potentially build his or her own practice and optimize these ownership variables is what ultimately makes Dentistry in Canada potentially far more lucrative than Medicine.  It is a different story in the US.

 

Bolded is wrong, if taken at face value.

The range for how much a GP MD makes can be 200k-1,000,000+ depending on location, type of practice, if they own their practice, and how much they work. 

DDS similarly can make more by owning practices as well, and having numerous hygenists working under them. As well rural dentistry pays alot more where a associate dentist can easily make 200-400k right out of university. 
 

[Stethescope]

On 2/28/2018 at 7:15 PM, JYPMITH said:

Why do people say dentists make more than doctors?

Comparing clinician vs clinician and clinic owner vs clinic owner, dentists don't come close to physicians.

If dentists have to compare dental clinic owners to physicians practicing medicine (i.e. not owning a business and just doing their thang), then dentists should be aware they're comparing apples to oranges.

Dental clinic owners can have a high ceiling because the whole profession is practically centered around selling services. If you are good at marketing and selling, you can do well.

[ArchEnemy]

On 3/3/2018 at 10:13 PM, medigeek said:

Precisely. FHOs can make upper 6 figs and even 7 figures if done right. 

Which FHO provider makes 7 figures?

[shikimate]

5 hours ago, ArchEnemy said:

Which FHO provider makes 7 figures?

I'd be very curious to find out as well (PM if feel uncomfortable explaining here).

I know AFPs can be lucrative if the work is shared amongst small number of people, but then that's very hard earned money, not ideal for long run, maybe ok for short run if building up capital.

Also very interested to know if anybody here use their PC to invest in medical building or diagnostic lab (again feel free to PM),