It would be wonderful if we could all go through life completely free of debt. There are a fortunate few who are born into wealth and have enough money to provide for themselves and go through life free of debt. Then there are the rest of us who face debt as a fact of everyday life (something you learn to contend with, live with, and yes, for many of us, die with it). Unfortunately, it’s even something we can pass on to our children someday. If you are already wealthy, then you may want to read
Would you like to know where, in this day and age, a dentist is still called “Doctor” and is held in the highest esteem by his/her neighbors? Would you like to know where a dentist’s standard of living could be considerably increased without having to devote most, if not all, of his/her waking hours in the office? Would you like to know where you can afford to buy a big house your first year in practice instead of living in a cramped apartment for years?
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The most widely used method for determining practice value is fair market value. The commonly accepted definition of fair market value is the price which a professional practice would produce, allowing reasonable time to find a purchaser, with both buyer and seller having access to full disclosure of information about each other.
When you recognize the clinical and management compensation as an overhead expense, the overhead percentage should be 80% to 85% of annual gross collections for a well run general dental practice.
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