tag:blogger.com,1999:blog-6934098248197121161.post7819544067358784610..comments2024-02-14T22:32:09.982-06:00Comments on The Daily Grind: I Tried to Hire an Associate TodayAGD Bloggerhttp://www.blogger.com/profile/09495044833994580808noreply@blogger.comBlogger12125tag:blogger.com,1999:blog-6934098248197121161.post-61870101576465369642017-03-11T18:21:04.361-06:002017-03-11T18:21:04.361-06:00Andy, two years have now gone by. Did you sell you...Andy, two years have now gone by. Did you sell your practice? Are you now working as an Associate? Are you less stressed?<br />I sold my practice to reduce my stress and stayed on as a full time Associate. It has not worked out very well. The guy who bought my practice has undone all that I built over the last 25 years and now I have been asked to leave...the practice has lost 50% of the patientsDr. Lawrence M.https://www.blogger.com/profile/07060971391756093353noreply@blogger.comtag:blogger.com,1999:blog-6934098248197121161.post-20961279758129762192015-03-22T23:13:07.161-05:002015-03-22T23:13:07.161-05:00Assuming your office is big enough so that you are...Assuming your office is big enough so that you are working at the same time as your associate, the overhead on the associate's production is less than yours. Your overhead has already paid for all the fixed costs (rent, phone lines, electricity, internet etc). For the associate, besides their salary and lab bill, there is a bit of cost for materials and the cost of an additional staff member Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6934098248197121161.post-73815387557151953052015-02-23T13:45:55.678-06:002015-02-23T13:45:55.678-06:00According to my accountants (who are dental CPAs),...According to my accountants (who are dental CPAs), the going rate for experienced associates is 35% of gross production & the practice pays the lab bills. It's around 40% if the associate pays the lab bill. Minimum daily rates are $600-700; a lot of practices do a draw on future earnings for this.<br /><br />I'm not sure what new graduates are getting, but with all due respect--25% Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6934098248197121161.post-68722271552851883712015-02-19T21:12:01.381-06:002015-02-19T21:12:01.381-06:00I hear your frustration, but as a recently graduat...I hear your frustration, but as a recently graduated dentist, I can tell you its very tough from our perspective also. I believe 25-30% of adjusted production is a fair amount. Assuming the average overhead is actually 65% (not 75%), then the owner is roughly making 10% of the associate's production. Add in the profit from hygiene, then the benefits of being a practice owner are more obvious.Indentured By Loansnoreply@blogger.comtag:blogger.com,1999:blog-6934098248197121161.post-1512725808048388122015-02-19T13:33:57.894-06:002015-02-19T13:33:57.894-06:00I'm not sure your associate candidates are wai...I'm not sure your associate candidates are waiting for the "big money jobs." Perhaps they are just trying to limit their risk. Having a salary guarantee, from their perspective, ensures that their employer will be serious about putting them to work. My first associateship had no guarantee and my well-intentioned boss only allowed me $45,000 in production over the course of 9 Thomashttps://www.blogger.com/profile/02436302101688258310noreply@blogger.comtag:blogger.com,1999:blog-6934098248197121161.post-5164054595485751542015-02-19T08:26:52.334-06:002015-02-19T08:26:52.334-06:00You know, I love this article - and it really show...You know, I love this article - and it really shows the attitude of the candidates coming into the workforce these days - in any profession! I have noticed younger family members of mine NOT taking jobs because they are waiting for the BIG money jobs, rather than understanding that taking the lower paying entry level jobs is the best way to get to the bigger money! They are going to waste time (BC Dentalhttp://topbcdental.comnoreply@blogger.comtag:blogger.com,1999:blog-6934098248197121161.post-60408537519235929042015-02-19T07:33:57.915-06:002015-02-19T07:33:57.915-06:00Try looking at overhead a different way: you say y...Try looking at overhead a different way: you say your overhead is 75%, but that should be composed of both fixed and variable expenses. A fixed expense would be something like rent, that is the same no matter how much dentistry you do. A variable expense is something like dental supplies or lab - that increases as you do more dentistry. When you look at the numbers this way, you will see that Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6934098248197121161.post-62873433120575709972015-02-18T18:44:10.333-06:002015-02-18T18:44:10.333-06:00Why is overhead 75%?
How would an associate add 2...Why is overhead 75%?<br /><br />How would an associate add 25% to overhead without adding any increased income? Is that part a joke?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6934098248197121161.post-78103429141357414892015-02-18T17:53:42.337-06:002015-02-18T17:53:42.337-06:00Interesting. It definitely varies by region but in...Interesting. It definitely varies by region but in Illinois, 25 % of production would be considered too less.<br />Associates generally get a guaranteed base and at least 30% of production and 35% to 40 % of collection whichever is higher.<br />It would be interesting to read others opinions as well. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6934098248197121161.post-64993061676439395742015-02-18T16:21:32.221-06:002015-02-18T16:21:32.221-06:00Andy,
I did the associate routine for years. The ...Andy,<br /><br />I did the associate routine for years. The pay off is in having time off and the hygiene patient income. Not much else.<br />Found that raising my fees (we do not participate in any plans or delta but you can cut them if appropriate)can weed out some folks and so there is less patients without losing income.<br />Hope that helps.<br />Enjoy the Journey,<br />Bobbob oronoreply@blogger.comtag:blogger.com,1999:blog-6934098248197121161.post-91505817600348200052015-02-18T15:34:12.033-06:002015-02-18T15:34:12.033-06:00Don't get me started. I brought in an associat...Don't get me started. I brought in an associate. I was not super busy but my partner just retired and I thought she would pick up the slack and create his own patients. <br />I brought in an associate that seemed perfect for the job. I paid her a per diem and/or 35% of production. <br />I made it clear that she was going to have to get out there and make a name for herself. <br />Well Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6934098248197121161.post-19907175142248783102015-02-18T14:57:52.055-06:002015-02-18T14:57:52.055-06:00Andy, if you get this figured out, let me know. I&...Andy, if you get this figured out, let me know. I'm not sure what the new grads are being told about potential income, but i'm pretty sure it is exaggerated. I have seen ads from some of the corporate practices offering starting salaries and benefits which I would like to make even after 38 years in practice. I joke about my retirement plan being a "toes up position" out the Terry G Box DDS MAGDnoreply@blogger.com