Retirement for Dentists: These Days, Retirement is Totally Optional

Dental Retirement Survey ResultsOne in Five Dentists Can’t Afford to Retire

In a recent survey, The Wealthy Dentist asked dentists about their retirement plans. Two-thirds of our dentist respondents say that they expect to choose keep working part-time to keep themselves busy. Only 13% replied that they’re on track financially and will retire completely once their financial goals are fully met. One in five dentists would like to retire, but aren’t sure they will be financially able to afford it.

We also asked dentists about their target retirement age. And aren’t the specialists lucky! They’re planning to retire an average of six years before their colleagues practicing general dentistry.

What’s your target retirement age?
Average: 63 years old
General Dentists: 64 years old
Specialists: 58 years old

Check out the complete dental retirement survey results

Dental Practice Embezzlement: Dentist Survey Video

Dental practice embezzlement dentist survey videoDental practice embezzlement can be a major dental management issue.

In a survey from The Wealthy Dentist, 52% of dentists who responded reported having been embezzled, while 48% say they have not been a victim of fraud.

“It happens to 95% of dental offices,” said an orthodontist. “The other 5% are ignorant, or have a spouse working the front desk.”

Jim Du Molin and Julie Frey discuss the problem of dental practice embezzlement:

“I was embezzled to the tune of over $1,000,000!” said a periodontist.

“You need to have several checks and balances to help prevent embezzlement, plus do random audits to let staff know you keep on top of checking records and books,” advised a pediatric dentist.

Has your dental office ever been embezzled? Any further thoughts on dental practice embezzlement and fraud?

Most Dentists See Insurance Companies As Enemies (VIDEO)

Dentists hate insurance: videoDentists have had enough of dental insurance companies. In this survey, fully 94% of dentist respondents said that they would like to see dentists organize against the insurance industry.

Low benefits and payouts are dentists’ largest frustration.

Read more: Dentists have no lost love for insurance

Dental Hygienists Get Paid Better than Some Dentists Wish! (video)

Hygienist pay ratesDentists report paying their dental hygienists about $36 per hour, according to this poll. Many dentists expressed resentment over the high price tag of a dental hygienist.

Location is highly correlated with hourly base pay, with urban California hygienists being paid twice as much as their rural Southern counterparts.

Read more: How much dental hygienists get paid

Economy Keeps Patients Away from Dentist

Dental profits decreaseDentists and dental practices are absolutely not immune to the economic woes affecting so many Americans these days.

According to an ADA survey, half of dentist respondents reported that, during the final quarter of 2008, they saw fewer patients and made less income.

Dental patients have not stopped seeking dental care, but they’re more likely to drag their feet nowadays. Dentists report that some patients are choosing less expensive treatment options and postponing regular hygiene visits.

Read more about it


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