Whether you’re planning to start your practice or join an existing one, one of the first things you need to consider is what type of business structure you want to adopt. Your choice will have a major impact on your ability to provide professional services.

Many licensed dental professionals choose to incorporate into a C- or S-Corporation to protect their assets from legal action. When incorporated as a professional corporation, a dentist’s assets are separate from the corporate entity, which means that if they win an award or settlement against their practice, or if someone slips and falls on their property, the funds must come out of the corporation’s coffers instead of the dentist’s personal bank account.

How Commercial Dentists Can Thrive in Competitive Markets

However, incorporating can also limit the flexibility you have as a private dental practitioner. If you want to grow your practice, for example, it may be necessary to employ additional staff or hire outside consultants. If you choose to incorporate, you will need to work with a tax professional to ensure that your dental office’s corporate structure is in line with the laws of your state and federal jurisdiction.

As the commercial dentist continues to shift toward a more centralized model, some dental practitioners may be wondering if they can compete with local DMSOs. The good news is that small and solo dental offices can still thrive by offering an outstanding patient experience. By providing quality care and marketing yourself effectively, you can stand out from the competition.