Dental School to Dental Practice: Navigating the Journey

Read Time: 6 min

Author: Julie Goldberg, DDS

Embarking on a career in dentistry is a journey marked by years of education, dedication, and perseverance. The transition from dental school to practice is a phase that requires careful planning and preparation. This article aims to provide guidance through this transition phase, covering topics such as assembling a professional team of advisors, sourcing protection for your livelihood and your practice, assessing practice models, and understanding how to cultivate a culture of patient safety and ethical standards while also mitigating risk.

Assembling a Professional Team of Advisors

Assembling subject matter experts who will act as advisors throughout your career is an important first step in moving from an educational setting to the professional workplace.

Key members of this team may include:

1. Mentor Dentist: A seasoned mentor provides invaluable insights, shares practical wisdom, and offers support during challenging times. Whether it’s clinical advice, practice management strategies, or career guidance, a trusted mentor serves as a source of inspiration and encouragement for recent graduates embarking on their dental professional journey.
2. Financial Advisor: An expert in financial planning and management can assist in budgeting, tax planning, and securing financing for practice acquisition or startup. Financial planners also provide guidance on retirement and college savings and financial related employee benefits.
3. Legal Counsel: An attorney with healthcare law experience can assist in drafting and reviewing contracts, navigating employment law, and resolving disputes. From lease agreements and partnership contracts, to patient privacy and compliance with healthcare regulations, partnering with a knowledgeable attorney mitigates legal risks and fosters a secure operating environment.
4. Accountant: A certified public accountant (CPA) with experience in healthcare accounting can help manage financial records, tax filings, and provide insights into maximizing profitability. From budgeting and cash flow management to financial forecasting and expense tracking, partnering with an accountant ensures fiscal prudence and long-term sustainability. It’s likely that, as a practice owner, a dentist will work most closely with this member of the professional team, and as such, the accountant is best positioned to schedule regular meetings of the entire team, to ensure a synergistic approach to advising.
5. Insurance Representative or Agent: An experienced insurance representative or agent becomes a valuable ally in procuring appropriate coverage, understanding policy nuances, and protecting your livelihood and practice. Whether it’s professional liability (malpractice) insurance, property coverage, general liability coverage, or workers compensation or disability coverage, a trusted insurance representative provides comprehensive, tailored solutions to safeguard the practice against unforeseen risks.

Sourcing Protection for Your Livelihood and Practice

Professional liability, or malpractice claims, continue to be on the rise. Therefore, it’s essential to secure sufficient professional liability insurance coverage to protect yourself and your practice from potential financial liabilities.

When sourcing professional liability insurance, consider the following:

1. Coverage Options: Look for policies that offer comprehensive coverage tailored to the specific risks faced by dental professionals. This may include professional liability coverage, general liability coverage, workers compensation or disability coverage, and coverage for property damage or theft. Some coverages will apply to an individual dental provider while others may cover an entity business or corporation.
2. Claims Experience: Review the claims experience of potential insurance providers to assess their familiarity in handling dental professional liability claims. Does the claims review process involve dental professionals and/or defense counsel with dental professional liability experience?
3. Policy Limits: Evaluate the policy limits to ensure adequate coverage in the event of a claim. Your insurance representative can guide you on what is generally considered to be adequate coverage for your practice location and scope of practice.
4. Additional Benefits: Some professional liability carriers may offer additional benefits such as consent to settle clauses (this means the insurance carrier must get your consent to settle a claim), risk management related practice resources, on site risk assessments, and live or virtual risk management educational seminars.

Assessing Practice Models

Before establishing or joining a dental practice, assess different practice models to determine the best fit for your goals, preferences, and circumstances. Practice model options might include:

1. Solo Practice: In a solo practice, a provider works independently as the sole owner and provider. This model offers autonomy and control over decision-making but also entails full responsibility for all aspects of practice management.
2. Group Practice: Group practices involve two or more dentists working together in a shared facility. This model allows for collaboration, shared resources, and potentially higher earning potential, but requires effective communication and coordination among providers. The Group Practice model also requires clear agreements, mutual trust, and alignment of goals among partners.
3. Associate Position: As an associate dentist, you work as an employee or independent contractor within an existing practice. This model offers opportunities for professional development, mentorship, and a steady income, but may involve limited autonomy and future ownership prospects.
4. DSO or Equity Ownership Group Practice: A practice is considered to be affiliated with a DSO or Equity Group if some outside entity manages some or all of its non-clinical functions such as billing, marketing, or human resources. These models typically appeal to new graduates because they may require no initial financial risk, but require careful analysis of employment contracts to determine details that include, but are not limited to: autonomous decision making, production goals, vacation time and retirement planning.

When assessing practice models, consider factors such as practice location, patient demographics, overhead costs, revenue potential, practice philosophy, and long-term career aspirations. By choosing a practice model that aligns with your values and objectives, you can lay a solid foundation for a successful dental career.

Risk Mitigation: Cultivating a Culture of Patient Safety and Ethical Standards

By adopting a proactive approach to risk management and integrating risk mitigation strategies into daily practice routines, a provider can cultivate a culture of patient safety and ethical standards, optimize practice efficiency, and minimize exposure to liability.

Key principles of risk management in dentistry include:

Documentation: Thorough documentation serves to support the decision-making process and the defense of a provider, in the event of litigation. Comprehensive patient records that are updated contemporaneously with patient treatment offer the best support in responding to allegations against a provider.

Communication: Providers who communicate treatment options, risks, and anticipated outcomes clearly and comprehensively, ensure that patients are well-informed to make educated decisions about their oral health and foster trust and transparency in the doctor-patient relationship.  Moreover, open dialogue with colleagues, specialists, and other healthcare providers enhances interdisciplinary collaboration, reducing the likelihood of errors and enhancing patient outcomes.

Ethical Decision Making: Ethical dilemmas are inherent in dentistry, requiring providers to navigate complex situations with integrity and professionalism. Upholding ethical principles such as beneficence, non-maleficence, autonomy, and justice guides providers in making sound clinical decisions that prioritize patient welfare.

Compliance: Adherence to regulatory standards and professional guidelines includes being aware of evolving regulations, licensure requirements, infection control protocols, and best practices to ensure compliance. Implementing robust quality assurance measures, conducting regular audits, and investing in ongoing staff training are integral to mitigating compliance risks and upholding the highest standards of patient care and safety.

In Summary

The transition from dental school to practice is a significant milestone in the journey of every aspiring dentist–we are excited for you! By assembling a professional team of advisors, sourcing protection for your livelihood and practice, assessing practice models, and understanding how risk mitigation plays a role in avoiding liability, a provider can navigate this transition phase with confidence and set the stage for a rewarding and successful career in dentistry.

As Pharmacists Mutual continues to support the dental profession, let us know how we can help you!