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|Articles - February 2013|
|Monday, January 28, 2013|
BY JON BELL
When Stephen Persichetti tells his students at the Oregon Health & Science University School of Dentistry how much student loan debt he had at the end of dental school in 1984, the room fills with groans.
Persichetti, a dentist and an associate professor in OHSU’s Department of Community Dentistry, owed around $18,000. Dental students today can find themselves on the hook for up to $180,000 — or more.
“At graduation,” Persichetti says, “they’re going to be in a situation where the only way they’re ever going to be able to service that debt is to be the owner of a practice.”
New graduates and dentists have something on their side that their counterparts in the early 1980s didn’t: historically low interest rates. Those, along with the gradual return of the overall economy, have spurred some new activity from dentists set on hanging out their own shingles.
“In the last eight to 10 months, we’ve seen a real increase in the number of people asking what their possibilities are,” says Scott Beard, director of health care banking for Pacific Continental Bank. “Dental has always been a pretty active market, but it’s been picking up even more lately.”
According to the Oregon Board of Dentistry, there are just over 2,800 licensed dentists in Oregon, up from almost 2,600 in 2008. Patrick Braatz, executive director of the board, says numbers have been flat recently, and he’s heard that it’s been difficult for new graduates to find full-time employment. The recession also found a few dentists filing for bankruptcy or selling their practices.
But with interest rates below 4% and medical leases hovering above $25 per square foot, Beard says it’s essentially cheaper for a dentist to build new than it is to lease. A dentist could expect to spend between $400,000 and $600,000 to build a startup practice. That more dentists may be setting up their own shops comes as no surprise to Persichetti, who says that about 95% of OHSU dental graduates — 74 graduated in 2012 — have some type of equity interest in a practice within five years of graduation.
“One reason you see these loans is that lenders love dentists,” he says. “We stay in the same location for 30 years, or we assume practices from retiring dentists. Lenders love to see that kind of cash flow.”
Thursday, July 31, 2014
BY MARY SPILDE | OB GUEST CONTRIBUTOR
Faced with the aftermath of the “great recession,” increasing concern about the environment and dwindling family wage jobs, we have some very important choices to make about our future.
Friday, July 18, 2014
BY JASON NORRIS | OB GUEST CONTRIBUTOR
Back in May, we shared a common Wall Street quote about investing, “Sell in May and go away.” Fast forward to July and the most common question we have been getting from clients is, “When is the market pullback going to occur?”
Friday, August 22, 2014
BY CLIFF HOCKLEY | OB GUEST CONTRIBUTOR
When business intersects with family, a host of situations can arise. Without a clear vision and careful planning, hard-earned investments can become stressful burdens.
Wednesday, August 27, 2014
Tom Cox interviews Pete Friedes, author of "The 2R Manager," about becoming a Best Boss.
Wednesday, August 20, 2014
By Kim Moore | OB Editor
The 2015 survey launched this week. It is open to for-profit private and public companies that have at least 15 full- or part-time employees in Oregon.
Tuesday, August 26, 2014
BY JENNIFER MARGULIS
In 2012 The Dalles, a city of some 14,400 located 75 miles east of Portland and often seen as the poor cousin to adjacent Hood River, completed a massive project to revitalize its dock.
Tuesday, August 19, 2014
BY TOM COX | OB BLOGGER
Tom Cox interviews Steve Balzac, author of "Organizational Psychology for Managers."
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