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Associate dentist needs help with contract negotiations with corporate dental office.
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Dental Associate Contract
Customer:
Associate dentist needs help with contract negotiations with corporate dental office. I am a General Dentist with 11 years of experience with my company *************. I am the sole doctor in a practice that grosses over $1M a year. I am seeking to renegotiate my contract with my corporation for more money and am looking for a skilled negotiator who may be able to help me know what I can get and get it for me. My dental office has some $300k in profits above what I am being paid. I am currently being paid 34% of collections and 45% of my lab fees. I grossed about $300k last year ish. Do you think I could negotiate an additional 40-50k in compensation and could you help with that?
Dolan W.
Hi *****! My name is Dolan, and I’d be happy to help with this. I carefully review each question and provide responses based on my years of hands-on experience as a lawyer.
It sounds like you’re in a strong position to renegotiate your contract given your practice's profitability and your significant contribution as the sole doctor. It is also great it is generating over $1M in revenue.
Yes, negotiating an additional 40–50k in compensation is possible and happy to provide guidance on how to approach it. Before I get into details, can you answer the below questions so I have a better sense of the situation?
- Are you currently under a contract with a set term, or are you working on an at-will basis?
- Do you have any additional benefits or perks tied to your current compensation, like bonuses, profit-sharing, 401k match, etc?
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