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Graduation is only your first step towards success and your doorway to the larger world of dentistry. After leaving dental school, you will need to make a huge transition from being a student who relies on his parents or student loan to being a professional who needs to stand up on his own and build a rewarding career. New dental school graduates, and even practicing dentists, nowadays have wider options when it comes to how they will practice dentistry. However, because you might still be unsure about what practice to pursue or which career route to take, it is wise to consider the advantages and disadvantages of each of the career options available for you. One of these options is joining a corporate dental practice. Here are the primary pros that you need to take into consideration before finally jumping into the corporate dental practice arena.
Consistency of work schedule
A corporate practice allows you to work on a consistent work schedule based on the regular business hours of the company. Having a consistent work schedule enables you to balance your life and work in a healthier and effective way. It also gives you the opportunity to schedule your priorities and manage your career well.
Marketing and technology opportunities
Corporate practices, in general, give utmost importance to marketing and technology. That is why they are willing to set larger budgets for marketing and for the technology upgrade.
Lesser administrative tasks
Most of the administrative tasks including compliance, payroll, accounting, recruiting, billing, HR, patient scheduling, and marketing can eat up much time to manage. With a corporate practice having a designated administrative management staff, you can be able to focus more on your dentistry practice as compared to solo practitioners who need to spread themselves to accommodate all the ins and outs of a solo practice.
Better insurance coverage
If you join a corporate practice, you will have better chances to qualify for more kinds of covered services and insurers as compared to those pursuing smaller practices.
Compensation and benefits
This is perhaps the most rewarding part of joining a corporate practice. You will not have to worry about whether you can sustain the monthly expenses of your own clinic or not. In a corporate practice, you will be able to receive a regular paycheck and consistent bonus package including benefits and initial salary.
Peer network access
Working in a corporate practice gives you an opportunity to have access to an established peer network for case discussion and education.
Lower failure risk
A corporate practice offers you only limited risk of loss just in case it fails or gets bankrupt. As a dentist working in a corporate practice, you do not have to sign any loan guarantees for the company.
Goodwill and brand recognition
You can be able to benefit from the corporate entity's established goodwill and brand recognition. For instance, if the corporate entity has an excellent goodwill and you need to go solo in the future, you can be able to tell people that you used to work as a corporate dental practitioner in such a prestigious entity.