Anonymous wrote:DH's orthodontist worked in finance for 8 years before going to an Ivy dental school on full scholarship so had no debt and ton of savings and investments.

Anonymous wrote:do not send your kids to dental school, its probably one of the worst financial decisions unless you have $500k+ for dental school loans and another $500-800k+ to open a dental office! we also have not seen any material increase in wages since the early 2000s!!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I always figured that for dental and vet school you need a rich parent that can buy everything up front.

You don’t need to spend the money to open your own office right after graduation. It isn’t even advisable. You take over your dad's practice.

Fixed that for you.

It's a nepo world, the rest of us just live in it.

DP +1

All Gen Y dentists I know take over their parents private practice.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I always figured that for dental and vet school you need a rich parent that can buy everything up front.

You don’t need to spend the money to open your own office right after graduation. It isn’t even advisable. You take over your dad's practice.

Fixed that for you.

It's a nepo world, the rest of us just live in it.

DP +1

All Gen Y dentists I know take over their parents private practice.

It's funny, we have been going to our dentist for 20 years, he is excellent. He was taking over his dad's practice when we started, and we saw his dad a couple times during the maybe 5 years he was still there- he was not a very nice guy! But the current one is great. Doesn't seem like any of his kids are going to take it over, interestingly.

Anonymous wrote:You can not argue against the fact that there has been to significant increase in reimbursement from insurance companies.

Anonymous wrote:It’s because todays Dentists moved to a different model.

My dentists from the 1960s to 1980s worked out of house they lived in. My dentist growing up took no dental insurance. He did not even have a computer. The emergency after hours number was their home phone number.

The wife, or kid or maybe part time stay at home mom took appointments. You paid by check day of or they mail you a bill you mail back check and wife usually dropped off checks at local bank. They often owned one car as husband worked out of house and wife SAHM. Dentist did cleanings too so no staff or had a local young girl help part time.

Today my dentist lives in an expensive home in Potomac. He rents an expensive office in Bethesda. Him and wife two luxury cars, he takes insurance and has multiple staff front desk as well as multiple employees. It is a very expensive business model. It is not sustainable.

If he got rid of Bethesda office, got rid of staff, got rid of his luxury car and worked out of home and had wife or local college student book appointments and stopped taking insurance his expenses would be way way less. In face he be charging less and making way more

Anonymous wrote:It’s because todays Dentists moved to a different model.

My dentists from the 1960s to 1980s worked out of house they lived in. My dentist growing up took no dental insurance. He did not even have a computer. The emergency after hours number was their home phone number.

The wife, or kid or maybe part time stay at home mom took appointments. You paid by check day of or they mail you a bill you mail back check and wife usually dropped off checks at local bank. They often owned one car as husband worked out of house and wife SAHM. Dentist did cleanings too so no staff or had a local young girl help part time.

Today my dentist lives in an expensive home in Potomac. He rents an expensive office in Bethesda. Him and wife two luxury cars, he takes insurance and has multiple staff front desk as well as multiple employees. It is a very expensive business model. It is not sustainable.

If he got rid of Bethesda office, got rid of staff, got rid of his luxury car and worked out of home and had wife or local college student book appointments and stopped taking insurance his expenses would be way way less. In face he be charging less and making way more

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I always figured that for dental and vet school you need a rich parent that can buy everything up front.

You don’t need to spend the money to open your own office right after graduation. It isn’t even advisable. You take over your dad's practice.

Fixed that for you.

It's a nepo world, the rest of us just live in it.

DP +1

All Gen Y dentists I know take over their parents private practice.

Anonymous wrote:You can not argue against the fact that there has been to significant increase in reimbursement from insurance companies.

If cost of everything including education has gone up but you're still getting paid the almost the same as 20 years ago, then your personal income is going down.

Delta dental pays $36 for a dental cleaning code, same as 20 years ago. The person cleaning your teeth has gone from $36 to $70/ hour now so the dentist is eating the extra cost. TRUST ME on this, its our reality.

I would not send my kids to dental school.

For those who are wondering, average dentist salary is still at 150k, same as it was 2010. Yes there are some that make more but the AVERAGE is 150K, no way around it.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I always figured that for dental and vet school you need a rich parent that can buy everything up front.

You don’t need to spend the money to open your own office right after graduation. It isn’t even advisable. You take over your dad's practice.

Fixed that for you.

It's a nepo world, the rest of us just live in it.

Anonymous wrote:There is a lot of money in it, specially for orthodontists and Endodontists. Yes, being a sole owner is where real money is but you can start with few tears of practice in an academic setting and then many practices would want you as partners.