Competition for young dentists is also high, with many national groups and DSOs offering high salaries with no management responsibilities, as well as sign on and retention bonuses. These offers appeal to new dental graduates, whose average educational debt was around $305,000 for the class of 2020. Even though lenders are willing to finance practice acquisitions, many new professionals balk at the idea of incurring more debt.
Supply and demand are also important on the patient side of the equation. There are only 4.6 million people in Louisiana, which works out to around 1,750 patients per dentist under ideal circumstances. Unfortunately, the population is not evenly distributed in our state and a lot of our citizens cannot afford a dentist. Almost 18% of Louisianians live in poverty, and this jumps to around 21% for rural areas. Once we adjust the numbers for poverty, that leaves about 1,450 patients per dentist under ideal circumstances.