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Why Fewer Dentists Are Choosing to Own Their Own Dental Practices

Young dentist smiling

Young dentist smilingThe dental world is changing rapidly! With new concepts like corporate dentistry and long-term associateships, it appears that fewer dentists are choosing to own their own dental practices. There’s no wrong answer when it comes to how you choose to practice dentistry, but it is important to be realistic with yourself about what type of dentist you are. We will refer to these two types of dentists as owner dentists or non-owner dentists.

An owner dentist is someone who feels that they wouldn’t be truly happy or fulfilled practicing dentistry if they were working for anyone else. The non-owner dentist is happy simply practicing dentistry and leaving all the challenges of practice ownership to someone else. In today’s dental landscape, there’s room for both types of dentists.

Dangers of Assumptions and Peer Pressure

For many years, dental schools, advisors, and dental peers have been perpetuating the idea that the only way to feel successful and validated as a dentist is to own your own dental practice. For the owner dentist, this is absolutely accurate! But for a non-owner dentist, following this path can lead to mistakes and challenges that may otherwise have been avoided if you were honest with yourself from the start. We’ve been seeing an increase in young dentists choosing to opt-out of practice ownership and that’s ok!

The dangers of perpetuating the status quo include non-owner dentists getting into practice ownership without feeling equipped or happy. The good news is that, as a non-owner dentist who owns a practice, you can get out of ownership. It can sometimes be difficult, and you may take a hit on your initial investment, but for many non-owner dentists, this is worth the hassle.

Advantages of Both Ownership and Non-Ownership

The advantages of dental practice ownership are quite clear. You’re the boss, you run the practice, and you make your own hours! In addition, your net cash flow can be higher, and you get a few extra tax advantages as a business owner. Ownership isn’t always easy, but it’s a challenge that the owner dentist will be happy to take on.

The advantages of the non-owner dentist are not discussed as often but can also be very rewarding if it’s correctly leveraged. Today’s dental industry is full of corporate ownership, entrepreneurial ownership, and multi-dentist practices. A non-owner dentist could easily find a good fit in any of these models, as they all require additional dentists to run their practices.

For help with your insurance credentialing in your dental office, please contact Dental Insurance Credentialing today. And remember, no matter what type of dentist you are, owner or non-owner, there’s room for you in today’s dental landscape!

Posted on Oct 21, 2019

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The best way for insurance companies to make sure profits increase is to collect monthly premiums from their members…
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