Factors Used To Determine An Orthodontist Salary
Unlike other businesses or government work, income in most medical fields is based on a number of factors. This is also true for an orthodontist salary. Rather than offering a straight income amount, which doesn't always reward extra work, they are paid within a framework, starting with a base amount, and growing from there.
Most practices offer even first year doctors a decent base income. Unfortunately for those who catch on slowly, this is assumed to be a percent of the minimum amount of work they should do in a year. Common in medicine, they pay on a production basis. For some practices production pay may be as high as 25 percent of billed work. In many it is lower.
Indeed, those with experience usually command higher rates, and have the patient lists to back up the earnings. With more experience behind them, and satisfied patients, as well, they can charge more than an untried new doctor. The combination of higher production pay and higher billing rate leads to earnings well over any base rate.
Another factor is, in fact, the rate charged for work performed. A doctor who specializes or has particular knowledge of a problem can charge more to fix it. While all can straighten teeth and correct bite problems, not all are able to do really advanced work. The higher skill level leads to higher billing, and in turn higher pay.
A fourth factor that can lead to higher pay is ownership in a practice. An associate normally would earn production and associated bonuses. A doctor who was also a partner in the practice would earn additional money based on overall practice earnings. In some practices, each year after upgrading equipment the remaining profit is split between the owners. In a successful practice this can be a lot of money.
With all those opportunities to increase earnings, however, there are some limits. The economy has a big impact on orthodontia, as it is usually only partially covered by insurance. Because the rest of the money for this type of treatment has to come from the patient, it depends strongly on how much they have to spend. Poor clients simply can't afford to pay as much as rich ones, and will simply not seek treatment if rates are too high.
It is possible to look up an average orthodontist salary. Unfortunately, the actual income for these doctors varies widely based on how much an individual doctor works and the other factors above. They do, however, offer a starting point for income research.
Most practices offer even first year doctors a decent base income. Unfortunately for those who catch on slowly, this is assumed to be a percent of the minimum amount of work they should do in a year. Common in medicine, they pay on a production basis. For some practices production pay may be as high as 25 percent of billed work. In many it is lower.
Indeed, those with experience usually command higher rates, and have the patient lists to back up the earnings. With more experience behind them, and satisfied patients, as well, they can charge more than an untried new doctor. The combination of higher production pay and higher billing rate leads to earnings well over any base rate.
Another factor is, in fact, the rate charged for work performed. A doctor who specializes or has particular knowledge of a problem can charge more to fix it. While all can straighten teeth and correct bite problems, not all are able to do really advanced work. The higher skill level leads to higher billing, and in turn higher pay.
A fourth factor that can lead to higher pay is ownership in a practice. An associate normally would earn production and associated bonuses. A doctor who was also a partner in the practice would earn additional money based on overall practice earnings. In some practices, each year after upgrading equipment the remaining profit is split between the owners. In a successful practice this can be a lot of money.
With all those opportunities to increase earnings, however, there are some limits. The economy has a big impact on orthodontia, as it is usually only partially covered by insurance. Because the rest of the money for this type of treatment has to come from the patient, it depends strongly on how much they have to spend. Poor clients simply can't afford to pay as much as rich ones, and will simply not seek treatment if rates are too high.
It is possible to look up an average orthodontist salary. Unfortunately, the actual income for these doctors varies widely based on how much an individual doctor works and the other factors above. They do, however, offer a starting point for income research.
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Require more detail? Then stop by OrthodontistSalary101.com to get additional details with regards to orthodontist salary figures, which includes stats on standard earnings in different States.
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New Unique Article!
Title: Factors Used To Determine An Orthodontist Salary
Author: Frank Carling
Email: sassymarketing@gmail.com
Keywords: orthodontist salary,orthodontist salaries,orthodontist,job,training,wages,earnings
Word Count: 423
Category: Careers
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