Employment Versus Ownership: Factors Every Young Orthodontist Should Consider
Many orthodontists eventually want ownership in a practice during their career either by being a solo practitioner or in a partnership. Currently in the orthodontic market there is a growing number of orthodontists who prefer a stable employment opportunity without the demands of practice ownership. Consolidation in the orthodontic industry and the rise of dental service organizations (or corporate practices, as they are sometimes referred to) are presenting more employment opportunities for young orthodontists and orthodontic residents. The compensation and benefits offered by dental service organizations is enticing to orthodontists because they can gain experience while paying down student loans and/or building savings toward an eventual practice purchase.
Doug Copple of Bentson Clark & Copple will discuss the career options available to young orthodontists and orthodontic residents to outline the pros and cons of both working as an employee and purchasing a practice. The presentation will also examine and compare long-term financial ramifications of employment versus ownership. Learn the factors to consider and financial implications when deciding which path is best for your personal situation.
On behalf of the Cleveland Society of Orthodontists, I want to tell you how much we enjoyed your presentation on Business Succession Planning. Our members who attended spoke favorably about the information you presented and were glad they attended. Your lecture brought new insights and valuable information to our profession; I would imagine they will all put some of your ideas into practice.
-Lorraine Mollohan, Executive Director