All this will have to be kept up to date with costs of lighting, heating and cleaning services. The equipment needed will easily cost tens-of-thousands, but they are essentials when it comes to setting up and running a functioning and successful dental practice.
Payments and Finances
You may share your practice with the other dentists in the practice, but if not, you will need to pay your fellow dentists what they are due. Dentists can earn anywhere between £38,000 – £100,000 depending on whether they specialise or not. Within a dental practice, additional staff will inevitably need to be employed for the day to day running as well as some potential specialisations.
Practice Staff and Specialists
Most dental practices feature an orthodontist, who can typically expect to earn between £60,000 – £80,000 per year. You may decide to employ a separate hygienist or do it yourself. A dental hygienist usually receives a salary of about £25,000 – £35,000.
Each dentist will require at least one assistant so depending on how many dentists you have working in your practice, will depend on how much it will cost to hire a number of dental nurses. These dental nurses can expect around £18,000 – £22,000 per year in the NHS and can earn up to £27,000 in the private sector.
A receptionist may be necessary, they are usually on around £7.90 an hour. Depending on the size of your practice, you may have to hire two.
With running a dental practice, comes paying for insurance. This is absolutely necessary and therefore is a cost you cannot ignore when wanting to run your own practice.
As a dental practice, you will rely on the good working order of specialist dental tools – insurance can make sure that any breakdowns are dealt with quickly and therefore not damage the profit of your business.
A sample of what insurance is likely to be needed to cover across the practice: