Nancy Kagan of Summit Dental Partners and Dawn Forman of Kerr Dental in Plymouth spirited discussion about dental office salaries, bonuses and perks. Here are some of the questions asked:
Do you send the hygienist home if their last patient cancels or breaks?- Do you have a bonus? How often do you give it out and what is your structure?
- Many of the practices attending had a bonus system and they varied widely. Nancy feels the bonuses should be paid at least monthly (if earned) for them to be successful and motivating.
- Some practices offered bonuses for specific treatments rendered above the monthly goal.
- Most associate doctors are paid at 35 – 37% of adjusted production minus their lab fees (paid at 35 – 50%)
- Some specialists are paid per diem
- Nancy feels that, to be effective, any incentives/bonuses structure must be understandable and not complicated. She also feels that either the Office Manger or the Dentist should pass our bonus checks and that they should not just be automatically deposited or lumped in with a paycheck.
- Nancy’s favorite goal setting procedure is to take a “Rolling Average.” Add the last three months together, get an average and make that the next month’s goal. For example, January + February + March production, divided by 3 to get the average = April’s goal. February + March + April divided by 3 = May’s goal and so on. this takes into account higher and lower months and evens out the goals.
Dawn Forman explained her formula for paying bonuses (incentive pay). She will be writing up her explanation and we’ll have it as a newsletter article within the next month or so.
When asked what should you do when a long term hygienist is at their “max” for salary, Nancy suggested offering them a percentage of their production rather than a raise.
Nancy will also be providing us with more detailed information over the next few weeks. There was so much good information flying around the room that it was hard to get it all down! That’s why is so beneficial to attend these meetings!
