New beginnings can be exciting.
Envision a clean slate. A list of endless possibilities. The opportunity to create something new where nothing existed before.
On the flip side, new beginnings can also be terrifying. For every possibility there is a pitfall to dodge, and fear of failure can be paralyzing. The idea of making decisions today that set the course for your decades-long career will keep you up nights, if you let it.
But that’s the dilemma facing all new dentists: Confidence in the operatory, tempered by trepidation in the rest of the office.
In the American Dental Education Association’s 2024 survey of more than 3,300 fourth-year dental students, most reported adequate or above adequate levels of clinical experience leading up to graduation.
More than 90 percent of respondents agreed that they understood the ethical and professional values of the profession, and that they had the communication skills to successfully interact with patients. Plus, more than 80 percent of respondents felt that they could lead a successful team, including hiring staff and creating a positive work culture.
But only 55 percent of dental students felt ready to manage a successful business. This should be of concern, as 53 percent of students responding to the ADEA survey plan to pursue private practice.
Those anxieties felt by new dentists are not uncommon. Veterans of dentistry, reflecting on decades in the profession, agree that they didn’t know how much they didn’t know when they left dental school. But each found success when they found professionals to consult with – both within the profession and adjacent to it.
“We had a camaraderie and relied on each other, but we were ill equipped and naïve in so many things about managing and running a business,” said 2004 CDS President Dr. Keith Suchey, who in 1982 took over an existing practice with partner Dr. Tom Sullivan straight out of dental school.
Those anxieties felt by new dentists are not uncommon. Veterans of dentistry, reflecting on decades in the profession, agree that they didn’t know how much they didn’t know when they left dental school. But each found success when they found professionals to consult with – both within the profession and adjacent to it.
“We had a camaraderie and relied on each other, but we were ill equipped and naïve in so many things about managing and running a business,” said 2004 CDS President Dr. Keith Suchey, who in 1982 took over an existing practice with partner Dr. Tom Sullivan straight out of dental school.
Professional Services
It was more than a few years before a friend-of-a-friend lead the doctors to a financial manager who set them straight.
“He was a CPA who really gave us the 101 on business and finance: investing, retirement planning, monthly accountability,” recalled Dr. Suchy, of Westchester. He’s thankful to have found someone familiar with dental practices, specifically. “It’s not like other medical offices; there are some nuances to our business, so find someone who has other dental clients.”
Veteran dentist Dr. John Hagopian agreed.
“The numbers are overwhelming, particularly with the cost of education right now. And if you just go to the internet, the amount of information out there is just as overwhelming,” he said, reflecting on his 40 years in dentistry. He currently practices in Glenview.
He’s not wrong about student debt. The ADEA survey found that the average education debt for students graduating with debt was $312,700.
(For the sake of comparison, the median home price in Illinois in June 2024 was $315,050.)
“Find someone you’re comfortable with and get help making a plan for the first five years, whether it’s saving to buy a practice or to buy a home or to pay off loans you have,” Dr. Hagopian said. “That was definitely a mistake that I made: I didn’t set enough goals for myself and timelines. I wish I would have had someone to tell me ‘this is what your goals could look like.’”
Second on that team, Dr. Suchy advised, should be an attorney to review contracts, to start. He called in other experts as additional legal matters arose throughout his career. “No one can be expected to do everything,” he said.
“He was a CPA who really gave us the 101 on business and finance: investing, retirement planning, monthly accountability,” recalled Dr. Suchy, of Westchester. He’s thankful to have found someone familiar with dental practices, specifically. “It’s not like other medical offices; there are some nuances to our business, so find someone who has other dental clients.”
Veteran dentist Dr. John Hagopian agreed.
“The numbers are overwhelming, particularly with the cost of education right now. And if you just go to the internet, the amount of information out there is just as overwhelming,” he said, reflecting on his 40 years in dentistry. He currently practices in Glenview.
He’s not wrong about student debt. The ADEA survey found that the average education debt for students graduating with debt was $312,700.
(For the sake of comparison, the median home price in Illinois in June 2024 was $315,050.)
“Find someone you’re comfortable with and get help making a plan for the first five years, whether it’s saving to buy a practice or to buy a home or to pay off loans you have,” Dr. Hagopian said. “That was definitely a mistake that I made: I didn’t set enough goals for myself and timelines. I wish I would have had someone to tell me ‘this is what your goals could look like.’”
Second on that team, Dr. Suchy advised, should be an attorney to review contracts, to start. He called in other experts as additional legal matters arose throughout his career. “No one can be expected to do everything,” he said.
“There are opportunities everywhere, so consider how you see yourself living: in a city? A smaller community? Get into it. Live and work in that area. Try to plan your future from that aspect. Thinking about that first certainly would have saved me a lot of commuting time.” - Dr. John Hagopian
Experienced Colleagues
Dr. Susan Becker Doroshow, who served as CDS president in 2015 and has served as an ADA trustee who ran for the ADA presidency in 2024, chose to build a solo practice from scratch 42 years ago, and even as she transitions to retirement, she loves the business she created in Skokie.
She worked in the town she grew up in, balanced her own books, and monitored receivables. “I took the patients I liked and the procedures that I liked. I really built the practice that I wanted, slow and steady,” she said. “I was willing to do the sterilizing and clean the toilets, too, because it wasn’t taking away patient time in the beginning.”
Dr. Doroshow wishes, though, that she would have been bolder earlier in her career, and sought more connections with veteran colleagues.
“Older dentists know that it’s really satisfying to interact with younger colleagues, but as a younger dentist I denied myself the wisdom of my peers,” she said. “I think now that people would have enjoyed knowing me then.”
Her solo slow-and-steady solo practice enabled her involvement in organized dentistry, too. “For me, that time was just as satisfying, albeit in ways that my practice of dentistry wasn’t. It reinforced my decision to practice this way, and my patients like that I’m doing these things.”
Dr. David Dooley now retired from group practice in Glenview who once served as CDS North Suburban Branch president, agreed on the importance of professional connections. “Ask questions of your colleagues. Ask questions of your mentors. Ask questions of your mentees. No question is dumb,” he said. “If you’re not talking to more experienced dentists, you’re losing opportunities to access to the knowledge that it took someone else years to develop.”
And the pool of veteran colleagues from whom to seek counsel is growing. The American Dental Association Health Policy Institute recently reported that dentists are working longer. The average age of retirement in 2023 was 69 (up from 65 in 2001), with only 21% of dentists retiring before age 65. That means 86% of dentists will have a work life of at least 35 years.
She worked in the town she grew up in, balanced her own books, and monitored receivables. “I took the patients I liked and the procedures that I liked. I really built the practice that I wanted, slow and steady,” she said. “I was willing to do the sterilizing and clean the toilets, too, because it wasn’t taking away patient time in the beginning.”
Dr. Doroshow wishes, though, that she would have been bolder earlier in her career, and sought more connections with veteran colleagues.
“Older dentists know that it’s really satisfying to interact with younger colleagues, but as a younger dentist I denied myself the wisdom of my peers,” she said. “I think now that people would have enjoyed knowing me then.”
Her solo slow-and-steady solo practice enabled her involvement in organized dentistry, too. “For me, that time was just as satisfying, albeit in ways that my practice of dentistry wasn’t. It reinforced my decision to practice this way, and my patients like that I’m doing these things.”
Dr. David Dooley now retired from group practice in Glenview who once served as CDS North Suburban Branch president, agreed on the importance of professional connections. “Ask questions of your colleagues. Ask questions of your mentors. Ask questions of your mentees. No question is dumb,” he said. “If you’re not talking to more experienced dentists, you’re losing opportunities to access to the knowledge that it took someone else years to develop.”
And the pool of veteran colleagues from whom to seek counsel is growing. The American Dental Association Health Policy Institute recently reported that dentists are working longer. The average age of retirement in 2023 was 69 (up from 65 in 2001), with only 21% of dentists retiring before age 65. That means 86% of dentists will have a work life of at least 35 years.
“I don’t ask people to do things I don’t think they’re capable of. I ask when I know they can stretch and grow, and get the same joy out of the profession that I did.” -Dr. Susan Becker Doroshow
Nice Neighbors
Making time to develop personal connections, too, contributed to these professional success stories.
Dr. Suchy said involvement the chamber of commerce, youth sports, and other community groups eliminated his need for a marketing budget.
“Even now, we have no online presence to speak of, and we never took out an ad in the Yellow Pages,” Dr. Suchy said. “We showed up and volunteered in the community. That’s it. Our patients came to see us because of the comfort level we developed through our involvement. That’s how we built a practice in an urban area.”
Dr. Dooley developed his own style for connecting with patients, which similarly enabled his success and brought him professional satisfaction.
“The best thing I did was develop relationships with my patients,” he said. “When you are interested in the personal side, that’s how you treat their dental problems.”
As an example, he recalled a fearful new patient. He closed his office door, sat down, and learned about what was going on in their life besides their need for dental treatment, paying careful attention to body language and other non-verbal clues during the conversation.
“The tooth is part of the whole being. Why are they really complaining? The tooth is just the straw the broke the camel’s back,” Dr. Dooley said. “It’s through empathy and understanding that you come to find a solution to the problem within financial means.”
Dr. Suchy said involvement the chamber of commerce, youth sports, and other community groups eliminated his need for a marketing budget.
“Even now, we have no online presence to speak of, and we never took out an ad in the Yellow Pages,” Dr. Suchy said. “We showed up and volunteered in the community. That’s it. Our patients came to see us because of the comfort level we developed through our involvement. That’s how we built a practice in an urban area.”
Dr. Dooley developed his own style for connecting with patients, which similarly enabled his success and brought him professional satisfaction.
“The best thing I did was develop relationships with my patients,” he said. “When you are interested in the personal side, that’s how you treat their dental problems.”
As an example, he recalled a fearful new patient. He closed his office door, sat down, and learned about what was going on in their life besides their need for dental treatment, paying careful attention to body language and other non-verbal clues during the conversation.
“The tooth is part of the whole being. Why are they really complaining? The tooth is just the straw the broke the camel’s back,” Dr. Dooley said. “It’s through empathy and understanding that you come to find a solution to the problem within financial means.”
“If you’re going to take over a practice, make it one that fits, not just what’s available to buy right now. Early on, we bought a practice that was philosophically different from ours. It had a different fee structure - just a different style altogether. And then we had to communicate those changes to the patients. If we had done our due diligence, we would have asked earlier ‘is this worth the effort.’” -Dr. David Dooley