How to Find an Associate Dentist Job

Here is another guest post from Morgan Pace of ETS Dental.

Whether you are a dental student, an exiting resident, or just returning to the job market, the task of finding an associate dentist position can be daunting. This is an attempt to provide a centralized resource to help you land a job. For more updates, tips, and helpful information, follow up on our Facebook fan page, Twitter, or on this blog.

Step 1. Make a Plan.

As outlined in the following blog link, the key is to be flexible. It is best to determine what your options are before narrowing your focus on the best fit. Job Hunt Tips.

Obviously location is important, but don't waste the crucial first years of your career in order to live in the heart of the city. Here is an overview of area limitations on a job market: Where are the Jobs?, and a real-life example is outlined here: The Grass is Always Greener. If you absolutely have to live and work in a saturated market, here are some strategies to help you land a job: Saturated or Difficult Markets.

Step 2. Prepare Your CV and Cover Letter.

Generally speaking, CV/resumes are overrated, as are cover letters. Still, they are a necessary evil when breaking into a job market. It is important to stand out from the crowd, but make sure that it is for the right reasons.
Here is an example of a well-written cover letter: Cover Letter Sample.
And here are instructions on writing your CV/resume: Resume for Dentists.

Step 3. Applying.

Here are several online sources for dentist jobs:

• ETS Dental Job Listings
• Indeed.com Job Listing Aggregator
• Careerbuilder
• DentalTown Classifieds

Step 4. Interviews.

The Telephone Interview:

• Return your phone messages and emails promptly. It speaks to your motivation, interest, and courtesy. Don't let returning phone calls or emails become an issue or an obstacle to getting an interview. Even if you don't think you will be interested in an opportunity, return the call. On more than one occasion we have seen a candidate get a call from Practice B when he was already talking with Practice A. The candidate puts off returning the call to Practice B. Two or three weeks later, the opportunity with Practice A does not work out and now Practice B will not consider the candidate because no calls have been returned.
• Your main goal in a telephone interview is to get a face-to-face interview.
• Ask for the interview. Take the initiative to set a time. Say something like, "From what you have told me, I would be very interested in meeting with you and coming to see your practice. When would be good for you?"
• Smile- even on the phone. You really can tell when someone is smiling.

Here is some additional reading on phone interviews: Tips for Phone Interviews.

The Face-to-Face Interview:

Don't go in blindly. Be sure to prepare in advance. Look over this article the night before:Preparing for the Interview.

• Treat the staff with courtesy and respect. A practice owner often feels like his or her staff is like a family and will listen to their opinions, especially if they are negative. On more than one occasion, we have seen excellent candidates not offered an opportunity because they treated a staff member poorly.
• Smile and show some enthusiasm. More candidates are hired because of their personalities and positive attitudes than because specific clinical skills. One high-end cosmetic practice told us they had interviewed six different dentists. They hired the candidate who smiled and appeared to truly enjoy being a dentist, passing on more experienced candidates with less personality and enthusiasm.
• Show sincere interest in the hiring dentist's situation. Understand that the dentist needs to solve a problem. Maybe the practice just lost a key associate or partner. Maybe the practice is growing and cannot keep up with patient demand. Maybe the dentist needs someone to take over the practice when he or she retires. You need to get a clear understanding of the dentist's true motivation for adding an associate. Once you truly understand the needs of the hiring dentist, you can mutually determine if you are the solution.
• Send a thank you note after the meeting. Here is a great example of a post-interview thank you: Thank You Note.

Still nervous? Here is a full blog post on interviewing: Interview Tips.

Step 5. Reviewing Contracts.

A good overview of contracts may be found here (the most relevant information is on the last page of the article): Compensation Considerations.

Step 6. What Can You Expect to Earn?

• There are several good sources covering realistic dentist earnings. Here is our own: How Much do Dentists Make?
• The Levin Group publishes an annual survey in Dental Economics. The 2012 version can be downloaded here: Levin Group Survey.
• The ADA puts out its own numbers, also: ADA Income and Gross Billings.

Step 7. Plan Your Relocation.

If you need to relocate, be sure to plan it ahead of time. Here are a few key points to ponder as you plan: Relocating Tips.

Finding a job can be an intimidating process. I hope these resources will help make the process easier. Please feel free to call us should you have any questions. We are always happy to help.

Posted by Morgan Pace, Senior Dentist Recruitment Consultant with ETS Dental. To find out more, call Morgan at (540) 491-9102 or email at mpace@etsdental.com.

Dentist Wants to Know How to Write Off Business Expense of Automobile

My wife travels once or twice a week to our removable lab 185 miles round trip, as well as travels to the nearest large city 85 miles round trip for supplies for the office once or twice a week.  I bought an old beater for 2300 dollars a couple of years ago that just died that we were using. Last week I had to trade my car in due to a wreck. Is there any legal way to write off a portion of this new car?

Absolutely! There's nothing illegal about deducting the business use of one’s automobile.

Here's a link to IRS.gov where you can search for how to deduct auto expenses.

If you have been using your vehicles for business use and not deducting the expenses I wonder what else you're not deducting and could be? I'd also wonder how much you'd be able to get back in taxes by amending some prior year returns.

This first appeared on Dentaltown.

Mistakes Made --- Lessons Learned in Owning a Dental Practice - Dealing with Isolation

Here is a another guest blog from our client Dr. Lurie.

It seems to me that there is a danger to dentistry that usually is never addressed.  This pertains to isolation and lack of socialization.  Dentistry by its' very nature is singular in that the doctor practices within himself to the very best of his ability.  He reports to his office, usually alone and if he is in solo practice, his interactions are with his patients and staff.  However, his inner thought processes, decision making, and perhaps his business decisions are made in a very narrow environment.  Does this sound like isolation?  To some degree, I think it is.  If he is in a group practice, the isolation is less but still present as regards his talent, self criticism, how he melds with his colleagues and staff.  Is he holding up his end of the workload, does the staff warm to him as much as his associates and so forth? It is difficult to write about this because it requires the same type of introspection that I am trying to bring attention to and perhaps solve.

Other health care professionals are in a different environment with hospital colleagues, much larger staffing, a general air of activity and motion, fellow practitioners available to discuss a case or personal issues and all other social activities that a group situation encompasses. Just being a dentist requires isolation in the field (mouth) that we work in, and the narrowness of our area of expertise (in the good sense) and the necessity to bring a critical eye to our work.  As has been said many times, there is an art to dentistry as well as the science of dentistry.  This might be one of the areas that differentiates us from other areas of health care providers.    When we are in a non-dental atmosphere (party, dining, sports etc), many dentists find it difficult to talk about anything other than dentistry.  How many of us have said that I don't want to go out with a bunch of dentists and talk shop all night? How many wives have said the same thing or that in going out, feel that it is part of the job  and not a fun or relaxing evening?

Over my fifty years, I have had these thoughts and also the arguments with my wife about this type of evening or even the general atmosphere of  "dental isolation"  Fortunately, I confronted this problem early on and discussed it at length with my CPA at one of our many meetings.  By facing the issue I was able to broaden my connections with the "outside world".  Hobbies were a big part.  I am an amateur photographer, and now in my retirement, assist a professional photographer on his many shoots.  My church activities certainly increased my socialization and again, in retirement, I am active and engaged in many outreach programs which require socialization.  It is interesting to note that in these non-professional groups, I am looked to for guidance and expertise.  I think this comes from the education and stature that we all possess but don't realize that we have.  These examples, of which there are many, have helped immensely with the social interaction with my fellow dentists and something I started doing and living long before I retired.  We actually have other things to discuss, question, ponder, and deliberate besides the mouth. 

Dentistry is our center and our love, but it can narrow our scope if we let it.  It should be number one during our work day, during out continuing education time and certainly in our relationships with colleagues.  However, be aware of becoming too narrow and don't be afraid to get advice from those who know you and love you.  These are just some thoughts... it seems to me. 

More mistakes made and lessons learned next time.

Dr. Donald B. Lurie, DDS

donald.lurie@att.net

phone:  717-235-0764

cell:       410-218-2229

For more information, please contact info@dentalcpas.com

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Mistakes Made... Lessons Learned in Owning a Dental Practice

Here is another guest blog from our client Dr. Lurie

It seems to me that each person has a different reason or need to retire.  In my case, retirement came about due to age and illness.  My body told me that it was time to retire. 

As I stated in my in an earlier blog, I had strong convictions about retirement and how to proceed.  However, the illness got to me before I was totally able to implement them.  Because I had such good advisers, the transition into retirement was relatively easy.  Was I totally financially secure? No. I did not sell my practice (solo practitioner of Oral and Maxillofacial Surgery).   There was not enough time to find the buyer and have an agreement but because I had such a good team around me, and with an understanding wife, I was able to transition to retirement with little anxiety.  Looking back upon it, the lesson to be learned is to be prepared for the Health Issue.  Be prepared for the Financial Issue.  Be prepared for the Wife Issue.    As I mentioned in my previous article, The Team for Retirement came to my rescue.  Due to some wonderful real estate investments in previous years, I was able to help my employees get positions, walk out, lock the doors and have peace of mind that I had helped so many people over the 50 years.  It was a profound feeling and a truly good feeling.  

Would I have like to have sold the practice?  Absolutely.  It is well known that in today's dental world, a solo oral surgeon is a dinosaur.  We are in a time of mega-specialty groups.  You can't sell the charts and the patients are all referred (in my case by a swell and dedicated referral base.)  My health issues have improved dramatically and I am now able to look back and reflect on that time of decision making.  This is what motivates me to write these articles and is, in no small part, one of the ways that I can give back to dentistry.  There are other ways of giving back that I am partial to also but I will save them for another article.  In review, I should have partnered with an associate long before retirement (at least 5 years).  This would have taken the stress of those last 6 months to a minimum.  Had I known of impending health issues, I could have explored the transition of the office into one of the mega offices either as a partnership or a private contractor.  The latter is a good means of solving several problems if you look at the logistics--space, rent, manpower, coverage and the like.  I ran out of time and could not complete the negotiation.  As I said, my wife was the rock behind me all the way.  Her prayers and strength were just part of what she extended to me to keep me going and we have been blessed with renewed health and a great life.  We intend to make it count.  More next time of mistakes made and lessons learned

If I can be of help to anyone, please contact me.

Dr. Donald B. Lurie, DDS

email: donald.lurie@att.net

phone:   717-235-0764

cell:       410-218-2228

For more information, please contact info@dentalcpas.com

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Thinking about Buying a Dental Practice in 2013?

In case you haven’t heard, there were some significant income tax law changes effective January 1, 2013 and for the most part, income taxes went up. Why is this important for buyers?

You see, some folks who place prices on practices will use the profit and loss reports from the most recent year. Now sometimes this isn't an issue if the practice has been fairly consistent with revenue and expenses, however, sometimes it is an issue and this year, 2013, I’m betting you might see some over-priced practices if the person generating the price is ONLY using 2012 financials.

As Certified Public Accountants (CPA) specializing in dental accounting, which means we work with a lot of dentists and their practices for CPA services like bookkeeping, accounting, tax planning, tax preparation, business management advice, etc... and 2012 was a pretty unique year.

As part of the planning process for our ongoing CPA service clients, we have to consider what the income tax rules are in the current year, the following year and sometimes even a couple years ahead as best we can. So in 2012 we had to consider that some of our clients might have the ability to pay tax on their income on tax rates that would be lower than the tax rates they might be in for 2013. In addition, some of our clients have certain types of income that might be subject to additional taxes in 2013 compared to 2012. Why should this impact a practice?

Well consider that the main source of taxable income for most of our dental clients is their practices and with some, the real estate where their practices are located. Also consider that most actually have the ability to “control” what their taxable income will be for a particular year by deferring income and accelerating expenses OR accelerating income and deferring expenses. The most common income tax strategy is to defer income and accelerate expenses, putting off the tax hit as long as possible. However, as I noted above, 2013 was one of those unique years where many were actually doing the opposite, accelerating income and deferring expenses, or,  said an easier way, taking as much income as possible in 2012 at potentially lower income tax rates compared to allowing the income to get taxed at higher rates in 2013.

So why should buyers care? If the person generating the asking price is ONLY using 2012 as their basis for practice performance, the practice income for 2012 could be substantially inflated and therefore, the practice purchase price could be substantially inflated.

Therefore, if you’re in the market to buy a dental practice in 2013 make sure you do your homework on the purchase price so you’re not paying an inflated price based on inflated practice profits.

For more information, please contact info@dentalcpas.com

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