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9th
Practice Management
Making a Case for a Home Office
By Mr. Alan Clemens President & founder, The Clemens Group
Fifty years ago many dentists practiced in home office combinations. Every town seemed to have at least two. It was a marriage of the need to earn a living and have a roof overhead. There was limited commercial space available except in apartment buildings, near hospitals, or near areas with open zoning. The dental profession was first coming into its own with the spread of developments like new technologies and third party insurance. Advancements in the business of dentistry opened the expansion into larger facilities, group practices, new treatment modalities, and corporate dentistry. Many home offices were relocated, sold, merged, or even closed over the years. However, many still have their shingles hanging in suitable communities and are highly expandable and upgradable. By and large the home office dentist has always made a profitable living with many unique perks and they continue to do so. Today with the economic burden of going to dental school the debt of a new dentist is usually staggering. They likely carry a long term debt of $60,000 a year after tax. More females are entering the profession, with upward of 50% of new class enrolment. Many of these women are choosing to work part time in order to raise a family and have a quality professional lifestyle. Home offices are almost always more profitable and provide substantial tax benefits. In addition many patients are looking for a better health care experience which is more personal and part of their community. They are tired of feeling like a number. The financial realities of owning an outside office with this lifestyle make it only a dream for most. The home office scenario can make this dream come true. Most doctors know working for others will rarely lead to professional fulfillment or pay for your education in a timely manner. Every home office is unique. They are a fantastic alternative to a conventional office, but their fit to the buyer’s specific needs is even more important than other types of offices. A seasoned transition expert can help you find a custom fit home office, as
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BULLETIN NINTH DISTRICT DENTAL ASSOCIATION
well as navigate a win – win deal with a purchase that has more aspects than a non – home office deal. Today’s dental transition market is more complex than ever, but if you educate yourself you have more options available to you than dentists have had before. It’s time to find out what the purchase of a home office might be able to do for you. About the author: Mr. Clemens is President &
Founder of The Clemens Group. For more information please contact The Clemens Group at: clemensgroupads@aol.com or (212) 370-1169. The Clemens Group is endorsed by the Ninth District Dental Association.
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