How to choose the best dentist for your kids
DENTISTS have become the most coveted profession in America, with annual salary hikes of nearly 50% since 2010, according to a survey of top dental executives released Wednesday.
Dental companies reported an average of $4.5 million in adjusted annual earnings gains in 2018, up 8% from the previous year.
A new study from the American Dental Association found that in the first three quarters of 2019, the industry’s annual average salary rose 4% to $3.9 million.
And it has seen an annual gain of more than 40% since the start of the recession.
The industry is also reporting record profits, with $1.7 trillion in earnings in 2018.
The most-profitable dentists were reported to be in the South, including $2.7 billion at two top dentists in Atlanta and $2 billion at a top-ranked dentist in Nashville.
But even the highest-paid dental executives in the country — the median salary for a top executive at a major dental practice in the United States is $6.3 million, according the American Board of Oral and Maxillofacial Surgeons — only earn $3 million in total compensation.
A year ago, the average annual salary of a top dentist in the U.S. was $6 million.
The American Dural Association, which represents the nation’s dental associations, said its survey of 800 executives found that while many dentists make good salaries, they often make less than the top dentist in their own state.
The survey also found that the top executives at the most popular dental practices in the nation had an average salary of more then $200,000, compared with less than $150,000 for the top dental surgeons and dentists who perform the most complex procedures.
But the average compensation for the dentists that do the most basic dental work was less than half that.
The dental unions that represent dentists, dentists and medical professionals are also calling for greater transparency and accountability in the industry, which has been under fire in recent years for not doing enough to improve care for its patients.
They said the industry needs to provide better information to patients and improve its accountability.
“The bottom line is we need to change our culture, because we have a lot of patients that are not getting care that is really needed,” said Paul Schaeffer, president of the American Medical Association’s Dental and Maxinean Associations.
“And we have an opportunity to change that by giving the public the truth.”
Dentists say they are taking the survey seriously because the results suggest that many are feeling underpaid.
The average salary for dental technicians nationwide was $7.7 million, a 2.9% increase from the prior year.
But only one-quarter of the top professionals in the survey — dentists at two of the most highly regarded dentists — earned more than $2 million.
Dentists at top dentistry practices that specialize in complex procedures earned nearly $6,000 more than dentists performing the most simple procedures, a 3.9 percent increase.
The largest-paid dentists earned nearly twice as much as dentists specializing in routine procedures, which include crowns, fillings and implants.
But dentists earning over $100,000 a year earned only $4,000 less than dentistry professionals who specialized in routine or less complex procedures, according with the American Association of Dental Surgeons.
The dentists’ pay is more than twice what dentists working in other fields earn, and far more than what dentist pay was reported for dentists with less advanced training, including dental hygienists and speech pathologists.
The highest-earning dentists reported earning an average $15.4 million in their current positions, a 15% increase.
DENTIST COMPANY NAME SALARY AGENT NAME AGENCY AGENCY TYPE SALARY MEDICAL ADMINISTRATION ADDRESSED MEDICAL EXPENSES SALARY REVENUES TOTAL SALARY ASSOCIATES OF AMERICA, INC.
$1,890,000 $3,972,976 $3 $3 -$6,500,000 Dentists, Inc. $439,000 -$5,600,000 5 $1 -$1,400,000 Dental Associates of America, Inc., Inc. (DAA) $2,096,743 $3 and $1 million -$4,500 and $3 in 2018 and 2019, respectively $5,400 and $6 in 2019 and 2020, respectively Dentists of America of New York, Inc.(DANNY) $1M and $4M -$3M in 2019, 2019, 2020, 2021, and 2022, respectively.
Dentist, Incorporated, Inc./DAA $2M and -$2M – $3M, 2018, 2019 and 2019.