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new_grad_2016

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Hi, everyone.

I have just joined the forum and this is my first post. My questions have to do with commission payment. In my new job working as an associate general dentist I have made an agreement to earn a 30% commission. The practice owner has given me daily reports but this is the first time I read such reports and don't know exactly how to calculate my commission from the numbers on these daily reports. Below are the numbers I find on one of the reports (from one of the days I have worked):

Production: $7,635.00
Prod Adj.: –$3,888.70
Payment, Check: $11,423.86
Payment, Credit: $410.00
Today's Receivables (including payments posted to insurance plans): –$8,087.56
Insurance plan payments: $1,919.26
Expected insurance: $0.00
Expected Write-Offs: $3,276.36
Patients: 15
New patients: 3

What is the meaning of each of these numbers and how do I calculate my 30% commission from them?

I have had some bad experiences in the past and have worked for practices that failed to pay me my rightful salary. How can I make sure the same doesn't happen this time ?

Thank you in advance for your posts and any help you can share.

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If you are paid on production then 30% of production is 7635 * .30 = 2290.50
If you are paid on payments then 30% of Payments for your work, likely to exclude hygiene, radiographs, and other dentists' work. This report does not tell you which payments are for you exclusively. Track the amount of payments that are for your work and multiply by .30
[(payments check - payments check not yours) + (payments insurance - payments insurance not yours) + (payment credit - payment credit not yours) + (payment cash - payment cash not yours)] * .30
You did not mention lab expense. You might have lab expese to pay.
Whichever process results in you getting the smallest amount prior to you paying for all of you taxes is probably the most accurate.
Do not forget to pay your taxes. Failure to pay tax can end your career early.
 
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