Many new dentists often have a misunderstanding of what practicing dentistry can bring them, according to James Jones, the CEO of Cal Dental USA in Los Angeles.
Mr. Jones recently spoke with Becker’s to discuss the uncomfortable truth he often discusses with young dentists.
Note: This response was lightly edited for clarity and length.
Question: What uncomfortable truth about the business of dentistry should the industry confront?
James Jones: After 16 years, going on 17, in the business of dentistry, one uncomfortable truth I’ve seen — especially with younger dentists — is the misconception that becoming a dentist automatically means becoming rich.
I hate to be the bubble burster, but I often tell young dentists: dentistry alone is not guaranteed to make you rich. It can provide a great career and create tremendous opportunities to build wealth, especially when paired with things like practice ownership, real estate and smart investing. But the profession itself can’t just be about chasing a paycheck.
You have to actually enjoy what you do. I call it the “whistle while you work” mentality. If you genuinely enjoy the profession, dentistry can become an incredible vehicle for building a life, a business and long-term wealth. But if your only motivation is getting rich, the realities of running a practice — staffing, overhead, insurance reimbursements, patient expectations and the pressures of ownership — can become a rude awakening.
That, to me, is one of the biggest uncomfortable truths about the business of dentistry: a dental degree can give you a great profession, but it doesn’t automatically give you wealth. What you build around that profession matters just as much.
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