recession dentistry

Dentists Are Being Pinched by the Current Economic Climate

October 11, 2011 By Catherine Hughes Leave a Comment

Dentists Are Being Pinched By the Current Economic Climate According to Forbes.com dentists are definitely feeling some pain from the recession.

In a report by Sageworks, a leader in the financial analysis of privately-held companies, privately-held dentist offices have seen sales in 2011 decline about 3 percent after posting ongoing-though-shrinking gains in their top lines throughout the recent recession.

Sales growth rates for dentists in 2008 and 2009 were 5 percent and 15 percent, respectively, but dipped to 1 percent growth in 2010 before this year’s decrease.

Forbes.com reports that profit growth, too, has weakened.

Dentists have worked to keep costs and overhead down which has helped them maintain one of the highest net profit margins of private industries over the last 12 months, according to Sageworks data. Dentist offices had a 13.84 percent net profit margin in the 12 months ending Sept. 3, 2010, compared to the net profit margin of 14.15 percent in 2010.

The “2011 Survey of Dental Care Affordability and Accessibility” reported that 77% of the US are without dental care and put off visits to the dentist because of the cost of that care.

As the economy continues to crawl, more people may further opt to skip regular check-ups with their dentist because of increasing out-of-pocket expenses. Dentists will continue to struggle to maintain their profit margins, while trying to attract new dental patients.

It’s a vicious cycle that doesn’t look like it will be ending anytime soon.

For more on the Sageworks report see U.S. Recession Effects Gnaw at Dentists’ Business.

The Dental Recession Continues for Most Dentists

October 12, 2010 By Julie Frey 4 Comments

The dental recession is still going strong. While the government recently declared the recession officially "over," a mere 4% of dentists agree.

“We are finding that the recession has actually gotten worse,” said one dentist.

In fact, only 18% feel things are improving. For 78% of dentists and practices, the recession is still going strong.

Here are some dentist comments:

“Still doing big cases, but fewer. Feeding the staff too. Going to survive, but it was a rough 2009, and 2010 has not been a lot better. It took a while to adapt.” (General dentist)
“Down 40% over last 2 months. Across almost all dental offices we’ve talked to and almost all business.” (Pennsylvania dentist)
“Forty years and worse business than ever. Almost no new patients and lost a dental hygiene day for first time in 38 years.” (California dentist)
"We are working harder, but we are up 10% for the year." (General dentist)
“Definitively slowing down since beginning of September.” (Orthodontist)
"We are finding that the recession has actually gotten worse." (Pennsylvania dentist)
"Yes, I feel that the recession is finally over, but I'm not holding my breath that there won't be a double dip recession on the horizon. We are staying prepared just in case!" (Ohio prosthodontist)
“How can the recession be over when the unemployment rate is at record highs?” (California dentist)
“While I see some improvement, my schedule is so much lighter than two or three years ago. The majority of my patients choose to do only essential dental work and defer most cosmetic dentistry treatment.” (General dentist)
“If we listened to everything the Government said we would all be taken for fools!” (Florida dentist)

Filed Under: Dental Surveys Tagged With: dentist, economy, recession, recession dentistry

Dental Implant or Dental Bridge? Patients Feel Bite of Recession

January 12, 2010 By Julie Frey 3 Comments

More than half of dentists surveyed (55%) said they have noticed more patients opting for dentures and/or dental bridges over dental implants as a result of the recession.

Here's what dentists have to say about how the economy affects dental implant treatment:

"We all know that a single tooth implant is the best solution for a missing tooth. Our office has priced the single implant and restoration (including the abutment if needed) exactly the same as a three unit dental bridge." (Alaska dentist)
"Some patients are opting for no treatment." (New Jersey dentist)
"People are still finding insurance coverage for bridges, and even though the patients still would rather have the implant, they are electing bridges for financial considerations."
"People are still doing dental treatment, but case sizes accepted are generally smaller." (Tennessee dentist)

Just a thought…. I wonder if there’s any increase in demand for mini dental implants as a less expensive treatment alternetative to regular dental implants?