01 Where Should I Practice?
The market you choose may matter more than almost any other decision you make early in your career.
A great dentist can struggle in an oversaturated market. An average dentist can find opportunities in a market where patients need care.
This evaluation will help you look beyond where you want to live and start asking a better question:
Where does the opportunity actually exist?
START THE MARKET EVALUATION ↓
THLT Market Evaluation
Start With the Market, Not the Map
Most dentists start by deciding where they want to live.
There's nothing wrong with that.
But before you commit to a market, understand what you're choosing.
The goal isn't to find the "perfect" place to practice. It's to understand the opportunities and tradeoffs before you make the decision.
EVALUATE THE MARKET IN FIVE AREAS ↓
HOW TO USE THIS EVALUATION
This evaluation isn't designed to give you a score or tell you where you should practice.
It's designed to help you investigate a market before you make a decision about it.
Work through each of the five areas. Some questions you may be able to answer immediately. Others may require research, conversations, or a visit to the market.
You don't need to know every answer today.
“Not enough information yet” is useful information.
It tells you what you still need to learn before making the decision.
DON'T TRY TO PROVE THAT A MARKET IS GOOD OR BAD.
TRY TO UNDERSTAND WHAT THE EVIDENCE IS TELLING YOU.
01—Competition
How crowded is the market?
Competition isn't about whether other dentists exist. They will.
The question is whether the market has enough patient demand to support the dentists who are already there—and another one.
LOOK AT THE EVIDENCE
Before deciding whether a market is crowded, do a little homework.
DENTISTS IN THE MARKET
Search Google Maps for general dentists in the area.
How many practices are there? How concentrated are they? How many appear to be competing for the same type of patients?
GROWTH
Is the population growing, staying relatively flat, or shrinking?
A market with ten dentists and a growing population may look very different from one with ten dentists and a declining population.
POPULATION
Look at the population of the market and the surrounding area it realistically draws from.
Don't just count dentists. Ask how many potential patients those dentists are serving.
ACCESS TO CARE
Call a few practices as if you were a new patient.
Are they accepting new patients? How soon can they schedule a comprehensive exam? A long wait can tell you something a Google search can't.
Don't look for one magic number. Look for the pattern.
YOUR MARKET EVALUATION
How many general dentists practice in the market?
Your Answer: ______________________________________________
What population does the market realistically serve?
Your Answer: ______________________________________________
Is the population growing, shrinking, or flat?
Growing · Shrinking · Flat · Unsure
Are local practices accepting new patients?
Most are · Some are· Few are · Unsure
How long does a new patient typically wait for a comprehensive exam?
Your Answer: ______________________________________________
WHAT DOES THE PATTERN TELL YOU?
Based on what you found, how would you describe this market?
Oversupplied · Balanced · Underserved · Not enough information yet
Don’t use this evaluation to prove that a market is good or bad. Use it to understand what you’re walking into.
02—Patient Demand
Are there enough patients who actually need dentistry?
Population alone doesn't create opportunity.
A market can have plenty of people and still be difficult if patients aren't seeking care, don't have access to care, or aren't able to pay for it.
The question isn't just how many people live there.
It's whether there is unmet demand for dental care.
LOOK AT THE EVIDENCE
Before deciding whether patient demand exists, look for signs that people are actually trying to access dental care.
NEW PATIENT AVAILIBILITY
Call several practices as a prospective new patient.
How soon can you get a comprehensive exam? Are some practices booked weeks—or months—out?
INSURANCE AND PAYER MIX
Look at the major employers and insurance plans in the area.
Are local practices participating with those plans? Is there an opportunity to serve patients who have difficulty finding a provider?
UNMET DENTAL NEED
Talk to dentists, hygienists, physicians, pharmacists, and other people who know the community.
Are patients delaying care? Are there procedures patients routinely have to leave the area to receive?
PATIENT FLOW
Look beyond the town limits.
Where do people in the surrounding communities currently go for dental care? Are patients already traveling into—or out of—the market for treatment?
Population tells you how many people are there. Demand tells you whether they need another dentist.
YOUR PATIENT DEMAND EVALUATION
1. How soon can a new patient get a comprehensive exam in this market?
Your Answer: ________________________________________________
2. Are practices actively accepting new patients?
Most are · Some are · Few are · Unsure
3. Do patients routinely leave the area for dental treatment?
Often · Sometimes · Rarely · Unsure
4. Are there groups of patients who appear to have difficulty finding dental care?
Yes · No · Unsure
If yes, who? __________________________________________________
5. What evidence have you found that dental demand exceeds the current supply?
Your Answer: ________________________________________________
WHAT DOES THE PATTERN TELL YOU?
Based on what you found, how would you describe patient demand in this market?
Low · Moderate · High · Not enough information yet
Don't assume people need another dentist just because they live there.
Look for evidence that they're actually looking for care.
03—Economics
Can this market support the kind of dental career you want?
A market can have patients who need dentistry and still be a difficult place to build the career you envision.
Income, employers, insurance coverage, reimbursement, real estate, staffing costs, and the type of dentistry patients are seeking all matter.
You're not looking for a wealthy market.
You're trying to understand the economics of the market you're entering.
LOOK AT THE EVIDENCE
Before deciding whether the economics of a market work, look at the forces that shape the opportunity.
MAJOR EMPLOYERS
Who are the major employers in the area?
Are they growing, stable, or declining? What kinds of jobs do they provide, and what does that tell you about the patients who live there?
INSURANCE AND PAYER MIX
What insurance plans dominate the market?
Which plans do local practices accept? Are there patient groups having difficulty finding a dentist who accepts their coverage?
PRACTICE ECONOMICS
What does it cost to operate a dental practice here?
Look at real estate, wages, staffing availability, and other costs that could make practicing in this market easier—or harder.
PATIENT ECONOMICS
What does the local economy look like?
Consider household income, employment, major industries, and whether the population appears able and willing to spend on dental care.
A good market isn't necessarily a wealthy market. It's a market where the economics work.
YOUR ECONOMICS EVALUATION
1. Who are the major employers in this market, and are they growing, stable, or declining?
Your Answer: ________________________________________________
2. What insurance plans appear to dominate the market?
Your Answer: ________________________________________________
3. Are there patient groups having difficulty finding dentists who accept their insurance?
Yes · No · Unsure
If yes, who? __________________________________________________
4. What are the major economic advantages or disadvantages of practicing here?
Consider real estate, wages, staffing availability, and other operating costs.
Your Answer: _________________________________________________
5. How would you describe the overall economic health of the community?
Growing · Stable · Declining · Unsure
WHAT DOES THE PATTERN TELL YOU?
Based on what you found, how would you describe the economics of practicing in this market?
Favorable · Workable · Challenging · Not enough information yet
Don't confuse a wealthy market with a good dental market.
The question is whether the economics support the opportunity you're considering.
04—Career Opportunity
What opportunities does this market create for you?
A good dental market isn't only about the number of patients or the economics.
It's also about what the market allows you to do.
Can you find a good associateship?
Are there dentists approaching retirement?
Are practices available to buy?
Could you eventually build or start your own?
You don't need to know exactly where your career will lead.
But you should understand what doors this market might open.
Does this market give you room to grow?
LOOK AT THE EVIDENCE
Don't just evaluate the opportunity that exists today. Look at what this market could allow you to do next.
ASSOCIATE OPPORTUNITES
What kinds of associate positions are available?
Look beyond the number of job postings. Are there practices where you could get busy, learn, develop skills, and increase your income?
OWNERSHIP OPPORTUNITIES
Are practices available to buy—or likely to become available?
Talk to local dentists, brokers, dental reps, lenders, and other people who may know about opportunities before they're publicly listed.
DENTIST AGE & TRANSITION
What does the dentist population look like?
Are there established dentists approaching retirement or looking for someone to join the practice and eventually take over?
ROOM FOR GROWTH
What could your career look like here five or ten years from now?
Could you become a partner, buy a practice, start one, expand, or pursue a different opportunity without having to leave the market?
Don't just ask whether there's a job for you today. Ask what this market could make possible tomorrow.
YOUR CAREER OPPORTUNITY EVALUATION
1. What kinds of associate opportunities are available in this market?
Your Answer: _________________________________________________
2. Are there established dentists who may be approaching retirement or looking for a future transition?
Yes · No · Unsure
If yes, what opportunities might exist? ______________________
3. Are practices available to purchase—or likely to become available?
Yes · No · Unsure
What did you find? ___________________________________________
4. What opportunities could this market create for you over the next five to ten years?
Consider partnership, ownership, a startup, expansion, or other career opportunities.
Your Answer: _________________________________________________
5. Could you build the kind of dental career you want here without eventually having to leave the market?
Yes · Probably · Probably not · Unsure
WHAT DOES THE PATTERN TELL YOU?
Based on what you found, how would you describe the long-term career opportunity in this market?
Limited · Moderate · Strong · Not enough information yet
Don't evaluate a market only by the job you can get today.
Consider the career it might allow you to build tomorrow.
PUTTING IT ALL TOGETHER
A great dental market isn't defined by one number.
A low dentist-to-population ratio doesn't automatically make a market good.
A growing population doesn't automatically make a market good.
High incomes don't automatically make a market good.
And a great job today doesn't automatically make a market good.
You're looking for the pattern.
THLT Market Evaluation
Competition
Oversupplied · Balanced · Underserved · Not enough information
Economics
Favorable · Workable · Challenging · Not enough information
Patient Demand
Low · Moderate · High · Not enough information
Career Opportunity
Limited · Moderate · Strong · Not enough information
WOULD I BUILD MY CAREER HERE?
Yes · Maybe · No · I need more information
WHY?
______________________________________________________________________
______________________________________________________________________
Don't look for the perfect market. Look for a market where the evidence gives you options.
ONE DECISION DOWN. FOUR MORE TO CONSIDER.
Where you practice is only one of the decisions that can shape your career.
When you're ready, explore the other four:
Where can I learn the most?
Should I own a dental practice?
When should I pivot?
How do I build financial freedom?