Another variable affecting compensation is the amount of time the owner spends actually managing the practice, as opposed to working in the practice. For example, a 2022 salary survey conducted by DentalPost indicated that on average, general dentists in private practice who do implants earn $105,000 more annually than dentists in private practice who do not. Also, procedural differences can impact a salary entitlement. A specialty practitioner may earn 40% of collections. A common formula used for a setting compensation of general practitioner is 30-35% of collections attributed to the dentist, and may be net of lab fees. How is compensation determined?ĭentist compensation can vary significantly by specialty, years of experience, number of patients seen per day, number of days worked, and by region. ![]() This is not so in a Sole owner practice, so these considerations are sometimes ignored.īeyond the obvious equitable considerations of a multi-member practice, all practitioner-owners should be aware of the taxation and valuation considerations related to setting their compensation. These practitioners need to settle on a compensation model that accounts for the revenues each individual practitioner brings to the practice, the management duties performed, and the various benefits owners receive from the practice. In a practice with multiple owners, practitioners are forced to tackle the compensation issue head-on due to owners’ competing interests. Some common thoughts are “I own the business and all the profits are mine, so why does it matter what I pay myself?” or “I’d like to take as high a salary as possible because that means I’m earning more, right?” However, they don’t generally consider the importance of separating their earnings for time spent caring for patients and managing the business from the profits of the practice. ![]() Dental practitioners who own their own practices sometimes wonder how much they should pay themselves.
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