Your First Year as a Dentist Can Put You on the Path to Financial Freedom!
When you’re a new dentist who’s starting your first year of work, you have some important decisions to make.
The practice you choose to work for now will impact your finances, your physical and emotional well-being, and even the quality of your dental work for years to come.
Many young dentists are encouraged to accept employment with a Dental Support Organization, or DSO for short.
DSOs manage a lot of the administrative and non-clinical support services for dentists, which can make them an attractive option, but there is a downside: they have no interest in helping you to achieve financial freedom, own your own practice, or optimize the quality of your service.
Their goal is to maximize profits for their investors, and for some of them, that means pressuring you to overwork yourself, recommend unnecessary or expensive treatments to your patients against your better professional judgement, and neglect the steps you need to take to secure your financial future.
Even if you plan to work for the DSO temporarily and eventually start your own practice, it will take many years, and thousands of dollars wasted on paying interest on massive debts, that you could have saved yourself if you had worked with an Un-DSO.
How an Un-DSO helps you achieve success and financial freedom:
Un-DSOs place you with a dentist who will first be your employer and mentor, and ultimately become your transition partner when they’re ready to transition out and transition you into ownership of the practice.
This allows you to gradually buy into a practice, which has an existing base of patients who have a chance to get to know and trust you before you take over, at a fraction of the cost of creating a practice from scratch or buying an existing practice where the patients don’t know you.
It starts with getting to know your future transition partner.
As most employers will tell you, you need to take some time to see if you fit well together before determining whether you want to be partners. In other words, you should “date” before you “get married”.
Does the dentist you’re working for care about you, and do they want to help and motivate you to build the practice for the benefit of both of you? You won't know the answer to this question for at least one or two years, after your initial trial period is over.
But if you take the time to carefully consider your options, your first year of employment can be the foundation of your financial freedom formula.
During that first year, we can also help you to evaluate opportunities to reduce or even eliminate your student debt.
Some of these opportunities may require the support of your employer, who will be highly motivated to help you eliminate your debt when you’re both working with the same Un-DSO.
With the Un-DSO, we provide you with transaction management, conflict management, mediation, and other forms of decision support.
We help you and your employer to evaluate the available options and make the best decisions, from the time you look for your first job to the time you exit from the practice financially free.
We also help you find the answers to important questions, such as:
- How do you want to market yourself - as a general dentist, or as a specialist?
- If you’re marketing yourself as a specialist, should you arrange to go into a general dentist's office to treat patients, or wait for referrals to be made to your office?
- What is the best way for you to get new patients?
You’ll want to go over questions like these with your employer, so you can maximize the value of your services to the practice and demonstrate to your employer why you should be their partner instead of just their employee.
We can also help you turn your student debt into an asset.
If you want to earn additional income, and stop paying interest to other people on your student loans, we can help you to set up your own Personal Liberty Bank.
This allows you to move your debt out of other people’s banks and into your Personal Liberty Bank, which enables you to pay interest to yourself instead of to other creditors.
Instead of being a liability for you and an asset for someone else, your student debt becomes an asset of YOUR bank!
If you want to find your ideal transition partner, create your path to financial freedom, and either eliminate your debt or turn it into an asset, just click the button below to access our scheduler and book your free consultation.
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