How are Specialists that work with Pair Dental compensated?
Specialists are compensated as a percentage of adjusted production, sometimes with a minimum guaranteed per diem. The percentage and per diems can vary but are usually determined by specialty, distance, specialist’s experience, and demand.
Pair Dental has extensive experience in this space and knows how to guide practice owners and specialists to compensation terms that fall in line with these considerations and lay the foundation for long term relationships.
How much does the Practice keep?
We strive to achieve a 50% retention of production for the Practice.
Can I negotiate the Specialist’s compensation?
The compensation terms are ultimately up to the practice and specialist. However, since Specialists take a market-based approach to the practices they work with, practice owners don’t want their practice to be the one that gets cut out of the specialist’s schedule if they decide to downsize. If your practice can offer a more consistent schedule, with more production, higher reimbursements for procedures, or a shorter commute for the specialist, it may be worth asking.
How is the Specialist’s pay calculated?
After each treatment day, we request a production report and supplies list from the practice. Our Support Team creates an invoice based on the financial arrangement between the practice and specialist, and sends it to both parties for approval.
Example: Specialist production is $10,000 for the treatment day. If the Specialist’s Compensation is 50%, Practice would be invoiced $5,000. Pair Dental would be compensated 5% or $500. The Specialist takes $4,500 and the Practice keeps $5,000.
How is adjusted production calculated?
Adjusted production is the agreed-upon value of the treatment minus any courtesy/insurance adjustments or discounts approved by the provider. Patient financing and/or merchant credit card processing fees are the financial responsibility of the practice, not the specialist.
Since neither the Specialist nor Pair Dental is involved in the billing and claims portion of the revenue cycle, the specialist must be paid on production. This protects the specialist and allows trust with the practices to develop more easily. Orthodontics is the only exclusion as they are compensated off a per diem plus bonuses for starts and finishes.
Where do payments go?
After each treatment day, Pair Dental’s Support Team will collect a production report from your practice and produce an invoice with payment instructions.
What is Pair Dental’s fee?
Our fee is usually around 5% and this is calculated on adjusted production. If the Specialist’s production is low and the per diem applies, our fee is reduced to $150.
What happens if production isn’t high enough?
A minimum per-diem is usually agreed to prior to the first treatment that applies in the event the specialist has a low production day for whatever reason.
Why would a Practice work with Pair Dental instead of finding their own Specialist?
Whether you are a practice looking to expand your specialty offerings or a specialist looking for more opportunities, finding the right fit is never simple. Pair Dental has hundreds of pre-screened specialists in our dental community, and 6+ years of experience creating successful matches. We take the admin work off your hands, so that you can focus on running your business and providing patient care. And we manage the relationship all the way through.