When two or more dentists partner up, it can get hairy when they try to determine the best way to allocate income. It doesn’t have to be so difficult.
All parties must be reasonably compensated; it’s imperative for the success of your practice. If your practice has more than one dentist, your compensation and bonuses are probably defined by your contract. Are the contract terms reasonable? Are the formulas fair?
If your practice is struggling to find an equitable compensation structure, a member of Rea’s dental accounting team can walk you and your partners through various types of dental practice compensation structures. You’ll learn the pros and cons of each format and what each one could mean for the dentists in your practice, allowing you and your partners to make an informed decision about your practice’s compensation structure.
Rea’s dental services team will guide you through various compensation structures so that you can find the best plan for your practice. If your partners are struggling to agree on a dental compensation structure, contact Rea & Associates or Alan C. Hill, CPA, the head of our dental team.