A stochastic evaluation of the decision to specialize in orthodontics

The objective of this paper is to identify under different scenarios, and from a financial point of view, the conditions required to successfully switch from the general dentistry practice to orthodontics.

A mail survey was used to collect the data from the practicing orthodontists. They estimated the income, at certain points, in the working life of an orthodontist. The general practitioner data were taken from the American Dental Association figures. Subsequently, a stochastic model was constructed.

Those who decide to buy an existing practice expect higher profits in the near future, and therefore the required minimum number of remaining years of practice is lower than for those deciding to start a new practice. For both scenarios, the 3-year residency will delay the profits compared with a 2-year residency. Thus, an increased number of remaining years of practice is required. There must be more than 10 working years left in the practitioner's life to make the switch profitable.