Choosing Between a Private Practice and a Commercial Dentist Office
Many commercial dentists face a career-defining decision at some point in their careers: whether to join a private practice or a larger corporate dentistry group. Both options have unique advantages and challenges, but choosing the right path depends on personal and professional aspirations at a particular juncture in your career.
The Impact of Commercials in Dental Marketing
Corporate dentistry groups (DMSOs) provide opportunities for growth and advancement without the business-related risk that comes with running a private practice. These entities are also able to negotiate better rates on supplies and materials due to the group purchasing power. DMSOs may also offer incentives for new associates, such as buyouts and sign-on bonuses.
However, despite these perks, joining a corporate office can be emotionally taxing for new dentists. A large part of a successful dental practice is the integrity of treatment, and many DMSOs can be driven by profit rather than patient care. This can lead to doctors misdiagnosing disorders and recommending unnecessary procedures in order to generate revenue.
A smaller, privately owned group practice can be a more enjoyable environment to work in because of the flexibility of time off and the ability to build equity in your practice. In addition, small practices can be a great place to develop and nurture strong professional relationships.
The type of business entity you choose will have a significant impact on your tax status. Some states, like New Jersey and California, do not allow professionals to form a PLLC and require them to file as a professional corporation (PC).