As a dentist, there is obviously no shortage of work for you to do. Whether you are a family dentist or focus on a certain specialty, you have your work cut out for you as a licensed dentist. When you climb the ladder of dental experience, it can be easy to dream of having your own practice in the future. In fact, you may even see a orthodontic practice for sale and think it’s the perfect time to buy. However, there are quite a few factors that you need to consider before making the big jump to owning your very own practice.
In this video, we will take a look at what it takes to run your very own practice, and if it is a wise investment for a dentist or orthodontist.
There’s clearly not a clean-cut answer to whether you should buy your own practice or not. The right choice depends on where you are, how much experience you have, and how many staff members you can feasibly hire. Obviously, your income is going to increase in your own practice, but you can also run into issues regarding your staff. You will need to be careful to keep your staffing at a minimum, but this also puts you at risk of losing patients if one of your staff members suddenly quits.