Is Dentist Practice Production on the Rebound in 2011?

dental production for 2011Dentist practice production hasn’t declined for all dentists, with 46% reporting increases to their production in the first quarter of 2011, according to our recent survey.

24% of practices have seen an increase of up to 10%, and another 16% are seeing increases in the 10 – 20% range. Only 6% have seen production increase by 20% or more.

The slight minority (38%) have seen their dental practice production decrease this quarter. Only 16% have not noticed a change.

Here are some dentist comments:

  • “The recovery has not trickled down to the worker level yet. Now we are feeling the pinch of higher gas prices and also the increase in consumer goods.” (Texas dentist)
  • “During these economic times, being lazy is not an asset. It is a time to dig in, work hard, market hard and effectively and make sure that you have the capacity to handle the demands your marketing (internal and external) will place on your practice.” (Michigan dentist)
  • “The measuring rod is not the practice’s production, it’s the practice’s collections! I am actually producing more but my collections rate has decreased. The insurance companies are making me take more write-offs if I am a “preferred” provider for them and the insurance companies, in general, are paying less for the same procedures than they have in past years. I guess they are trying to build up their coffers before health care reform takes full effect!” (Alabama dentist)
  • “Our production has increased significantly the past 6 months, especially the past 3 months. This may not necessarily be due to a slightly better economy but likely due to more people feeling like they can no longer continue to delay treatment, improved office marketing (including increased Internet dental marketing) and an emphasis on internal marketing. We have actually decreased our advertising costs compared to last year and have become smarter with our marketing.” (Ohio dentist)
  • “The economy has not picked up from what I see, only significant stress, clenching, fractures. I will note that I have not seen any slowing in Botox, and dermal fillers treatment, whether for TMD or cosmetic.” (Minnesota dentist)
  • “Production seems to be up due to pent-up demand. Patients who had been delaying treatment were continuing their treatment.” (Tennessee dentist)
  • “I took Jim Du Molin’s signage advice and new patient flow has increased noticeably. Thank you so much!” (Nevada dentist)

Dental Practice Production for Dentists in 2011

Dentist Continuing Education May Cure Dental Burnout Symptoms (video)

Dentist Continuing Education May Cure Dental Burnout SymptomsEveryone feels burnout now and then, but dentists are especially at risk for professional burnout.

Said one dentist, “Burnout to me is manly the result of the negative light in which most dental patients view the dental office experience.”

Another dentist advised, “Taking continuing education to learn and improve techniques rejuvenates my practice. It keeps me fresh!”

The Wealthy Dentist conducted a survey asking dentists if they have ever suffered from professional burnout in their dental careers.

Click on Play to watch the video to hear more of  what dentists have to say about burnout

What do you do to avoid professional burnout?

Dentists: Are You No Longer a Wealthy Dentist?

Dentists: Are You No Longer a Wealthy Dentist?Dentists’ incomes are dropping according to a report published in the May issue of the Journal of the American Dental Association.

The ADA and data from the Agency for Healthcare Research and Quality’s Medical Expenditure Panel conducted a survey to analyze trends in real gross billings per dentist visit, rates of collection of gross dental patient billings, number of visits to a dentist, percentage of the population who visited a dentist, population to dentist ratio and average real practice expenses.

The survey results reflect a random sample of approximately 4000 to 7000 dentists in private practice.

The survey found that the downward income trend was driven primarily by a decrease in dental patients seeking dental care.

The decline in dental care use, although most notable during the economic downturn, appears to have started before the downturn began.

A smaller portion of the U.S. population is seeing a dental care annually, going from 40.6% in 2005 to 38.6% in 2009.

Marko Vujicic, PhD, an American Dental Association economist, told Medscape Medical News that another study confirmed that an increasing number of Americans say they can no longer afford the dental care they need. Many states cut Medicaid dental benefits at the same time that employers cut back on dental insurance benefits, which left more of the general population without dental insurance coverage.

Further ADA surveys have shown that the reason dental patients don’t go to the dentist more often is that it now costs too much (34%). More than half of consumers (51%) who have not been to the dentist in the past five years report that high costs are an important factor. About 26% of consumers had a previous bad experience with a dentist and one-quarter do not feel that it is necessary to go to the dentist until a problem occurs.

According to the ADA the average gross billings per owner dentist in 2009 was $727,630 for a general practitioner and $1,004,820 for a specialist.

Quality dental marketing seems to help buck the downward income trend by helping dentists acquire more new dental patients. Investing in the latest dental technology also helps add to the dental practice bottom line, according to dental accountant Bassim Michael.

What has your experience been this year? Has your dental practice income dropped?

For more on this story see: Dentists’ Incomes Dropping, Says ADA Survey

Who Else Wants Dentists Targeted for Tooth Tax?

tooth taxDo you think dental services should be taxed?

Apparently Vermont’s Governor Peter Shumlin believes so.

A $24 million new tax package was recently approved by the Vermont House Ways and Means Committee. They voted 7-1 on a package intended to help make up a $176 million projected shortfall in their state.

Fortunately for dentists and patients residing in Vermont, the package did not include Gov. Peter Shumlin’s plan to expand the provider tax to include dental services.

His “tooth tax” initiative would have imposed a 3% tax on the gross receipts of dental services.

Dentists in Vermont were outraged, and more than 4,500 people signed a petition with the VSDS opposing the 3% tax.

The Vermont State Dental Society vehemently opposed the tax, stating, “We believe it makes much more sense to tax items that hinder oral health like candy, soda and tobacco. Taxing health care to pay for health care is a math problem that just doesn’t add up.” The group called for dentists and patients alike to sign the petition through the VSDS website.

The controversial expansion of the provider tax to include dentists that would have raised another $3 million in revenue for the state.

Even though the increased tax would have increased Medicaid payments, dentists still believe a tax on dental services is the wrong way for the state to raise funds.

Should dental services be taxed? If you were in Vermont, would you have signed the petition?

For more on this story, see the Bennington Banner.

Dental Marketing: Direct Mail Marketing Seems Old-fashioned (video)

Direct Mail Marketing Seems Old-fashioned

Popular daily-deal sites such as Google Offers, Groupon and Living Social have exploded on to the Internet dental marketing scene. These sites make many dentists wonder if tried-and-true methods of marketing — like direct mail — still work for internal marketing.

Why wouldn’t they?

Dentists spend great sums of money to acquire new patients, and not continuing to market to proven buyers is truly a mistake. Regular patient mailings are one of the proven methods for dentists to stay in touch with their patients.

The Wealthy Dentist conducted a survey of dentists to find out if they regularly mail their patient base. A California dentist was quick to respond, “It’s a complete waste of time. Patients ask not to send them any more junk mail. This is not the 1970’s.”

Click on Play to see what the dentists have to say about direct mail marketing

Are you still doing direct mail marketing? Tell us your story in our comments.

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