Dentaltown November 2019 - 49

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Would You Move?
A Townie living in a city detrimental to his practice growth wonders if moving states
will be the answer to all his problems. Is the grass really greener on the other side?

Family and I currently live and practice in suburbs of major metro city in "State A." City is
growing too fast for its own good. Owning an office has presented its challenges, for sure, but
I have noticed the following and it's worn me out: Cost of living has increased exponentially;
property tax increased 40% over the past few years; insurance reimbursement cut of 44% by a
major PPO this year; this state is cash hungry and has repeatedly audited my business for any
sales tax revenue they think I didn't pay on office supplies; more and more dentists doing startup
each year; and, finally, the labor market for dental auxiliary staff here stinks.
There is literally no staff here for hire-offices can post ads on Indeed and Craigslist and
get no responses. Many offices here are short-staffed and have been for a long time, and I don't
see the labor market improving. I've been looking for a PT hygienist and DA for the past six
months, no luck. Personally, I think it's due to a rapid influx of tech workers; not many can
afford to live here anymore, give or take 60 miles from the city. Plus, traffic here stinks-among
the worst in the U.S. by recent study.
I found a city in "State B" that is more affordable and more "relaxed." Dentists in State B
seem to do well. The cost of living is lower by 30%, housing costs are more reasonable, it's a more
business-friendly environment and the dental market is healthier (i.e. more staff to hire, more
high-producing offices for sale).
I could sell my current house, use the net gain and literally buy a house in State B and have
no mortgage. I could also sell my current practice in State A and buy a higher-producing office in
State B for less or similar to what I paid for the office in State A. In essence, have a better quality
of life and get completely out of debt.
I'm worried that in one to two years, this city in State A will get more fee cuts, the cost of
living will continue to go up, net income goes down, and dentists owners will be left having to
do front/assisting/hygiene by him/herself due to no staff left.
Any dentists on DT make a similar move? Am I stupid for wanting to jump ship because of
"the grass is always greener" thinking? ■

doc_ock
Member Since: 07/17/04
Post: 1 of 44

9/11/2019

Seems smart. I'd maybe consider using the equity in your home to invest in multiple properties rather than buying a house outright, especially with the rates so low. ■
9/11/2019

Quite the contrary-your trend assessment has produced more than enough reasons to get
out of Dodge. ■
9/11/2019

I have kind of done that, but didn't sell the practice (yet). Sold out of the larger house,
downsized to a smaller one with no mortgage. Cut my work week by 40%. ■
9/11/2019

Yes. I am looking at doing the same thing. It's tough to practice in my area, and I've put tons
of sweat equity into building my practice in a saturated area but could still be doing twice as

gpr2b
Member Since: 09/28/09
Post: 2 of 44

Lithuanian DDS
Member Since: 12/01/14
Post: 3 of 44

socrdoc
Member Since: 12/06/06
Post: 4 of 44

WolfpackDDS
Member Since: 06/18/14
Post: 5 of 44

dentaltown.com \\ NOVEMBER 2019

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Dentaltown November 2019

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