Thank you for always sharing valuable financial insight into dentistry, which a lot of people avoid sharing. What are your thoughts on newly qualified dentists who are in their foundation year? Should they go private as soon as possible or should they work in a mixed NHS/Private setting and then slowly phase out NHS work? Thank you so much.
Hi, The focus should be on finding a supportive environment where you can grow as a clinician. That may be in a private or mixed practice. Having mentors you can learn from and a practice which equips you to fulfill your potential will set you up well for your career. Easier said than done and it may take a few practices before you find the right one.
hello dr for first contract after completeing ORE what do u reccommend, short contracts with mixed practice like 2 years just enough to cover plve period or long contracts with also mixed practice like 5 years which is more stable. what do u recommend.? and second Q if u don't mind what about welcome bonus of the new dentist in the practice , how much is it ? thank u so far
Hello Dr. Arnold, thank you so much for all your videos they have been immensely helpful to guide me as i begin my journey as a first year dentist working with myDentist in Sunderland. I was just wondering, do you recommend if I work with a dental accounting firm and if I require insurance? Because companies like dental protection, ddu offer 10 pound yearly membership for first year dentists, but I am not sure if thats enough or I need more?
If you are a foundation dentist you shouldnt need an accountant as you will be employed. When you become self-employed then it is essential for you to have an accountant, preferably one who is very experienced with dentists. DP and DDU are cheap for the first 2 years but the indemnity will rise steeply thereafter. Make the most of the £10 membership, it is not inferior, just low because you are low risk to insure as a new dentist.
Dr. Arnold, could you explain why the income in your private work is reduced significantly? What is the point in making all this money and taking home barely anything? Or the income from the private practice you shared in the video is a group income? Perhaps you can speak to what deductions are taken from your income. My two cents!
I'll add that as a future topic. Aligner lab bills are a large part of the deductions and the split you agree with the practice. The practice can take 50%-60% of the income depending on your negotiated split.
@@LancashireSmiles Thanks for the clarification, Dr Arnold. In the future, such a video would be really helpful. The percentage split seems steep but I guess that is what comes with the terrain. Thanks for the work you do and thanks for sharing such personal details with us! Highly appreciated!
Thanks for sharing videos like this about income. It is soo useful. Love your channel too so keep up the great work :)
Thank you for always sharing valuable financial insight into dentistry, which a lot of people avoid sharing.
What are your thoughts on newly qualified dentists who are in their foundation year? Should they go private as soon as possible or should they work in a mixed NHS/Private setting and then slowly phase out NHS work? Thank you so much.
Hi, The focus should be on finding a supportive environment where you can grow as a clinician. That may be in a private or mixed practice. Having mentors you can learn from and a practice which equips you to fulfill your potential will set you up well for your career.
Easier said than done and it may take a few practices before you find the right one.
hello dr
for first contract after completeing ORE what do u reccommend, short contracts with mixed practice like 2 years just enough to cover plve period or long contracts with also mixed practice like 5 years which is more stable. what do u recommend.?
and second Q if u don't mind
what about welcome bonus of the new dentist in the practice , how much is it ?
thank u so far
Thank you for this video…. Very useful.
7k a month = 84k a year. I am pretty sure plenty of of people would love to earn that much.
Hello Dr. Arnold, thank you so much for all your videos they have been immensely helpful to guide me as i begin my journey as a first year dentist working with myDentist in Sunderland. I was just wondering, do you recommend if I work with a dental accounting firm and if I require insurance? Because companies like dental protection, ddu offer 10 pound yearly membership for first year dentists, but I am not sure if thats enough or I need more?
If you are a foundation dentist you shouldnt need an accountant as you will be employed. When you become self-employed then it is essential for you to have an accountant, preferably one who is very experienced with dentists. DP and DDU are cheap for the first 2 years but the indemnity will rise steeply thereafter. Make the most of the £10 membership, it is not inferior, just low because you are low risk to insure as a new dentist.
Loui sir how much do you earn as a dentist? Plz reply. Thanks a lot.
Dr. Arnold, could you explain why the income in your private work is reduced significantly? What is the point in making all this money and taking home barely anything? Or the income from the private practice you shared in the video is a group income? Perhaps you can speak to what deductions are taken from your income. My two cents!
I'll add that as a future topic.
Aligner lab bills are a large part of the deductions and the split you agree with the practice. The practice can take 50%-60% of the income depending on your negotiated split.
@@LancashireSmiles Thanks for the clarification, Dr Arnold. In the future, such a video would be really helpful. The percentage split seems steep but I guess that is what comes with the terrain. Thanks for the work you do and thanks for sharing such personal details with us! Highly appreciated!
Are you a private practice owner dentist in uk?
How many udas were u doing per month?