finance // feature
by David Marks
W
We all work with the hope that
one day the fruits of our labor
will allow us to retire happy and
financially capable of living the
lifestyle we desire.
When I entered the industry
five years ago, I thought a large
number of currently practicing
orthodontists were approaching retirement age. My
initial thoughts centered on how the industry would
react to having to replace all the soon-to-be-retiring
orthodontists to meet patient demand, and, more
importantly, how quickly it could do so. After talking
to a number of orthodontists, the AAO leadership,
and after having reviewed the AAO's list of practices
for sale, you can appreciate my surprise when I realized that only a very small percentage of orthodontists
were even considering transitioning their practice in
the next five years. A deeper dive into exactly what was
driving this desire or need to keep working at an
advanced age (I can say that) was warranted.
As I asked more detailed questions of orthodontists I met along the way, I unearthed several reasons
they continued to practice well past the typical
retirement age of most medical professionals.
Several answers seemed to be repeated:
1. "I love what I'm doing."
2. "The nature of an orthodontic practice and its
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APRIL 2014 // orthotown.com
http://www.orthotown.com
Table of Contents for the Digital Edition of Orthotown April 2014