Once graduated, a dentist has a couple of options for going into private practice, they can start from scratch or purchase an established office from a retiring dentist. Both options are costly to the tune of $250,000-$750,000 depending on the area. Most have to make monthly payments on their office as well as student loans.
The cost of running a dental office is outrageously expensive. Monthly overhead for a practice is between 65%-80% after paying all the bills. Rent, debt service, payroll, taxes, insurance, materials, lab fees, office supplies, electronic filing and other monthly dues, malpractice insurance, association dues, marketing, phone lines and internet, continuing education, , technology, repairs and maintenance, etc…everything adds up to higher fees for the patient so that costs can be met.
Many patients assume they are “paying for their dentists new house” when in fact they are paying for their education, high costs of doing business and of course their expertise that they have worked hard for. The old saying “you get what you pay for” does apply here and patients should be aware of what kind of care they are getting. If it sounds too good to be true, it is.