New Root Canal Patient Gross Production Value

New Root Canal Patient Gross Production ValueThe latest The Wealthy Dentist survey reveals that the average gross production of a new root canal patient in the first 9 months of treatment in 2012 was $2,300.

Suburban dentists reported higher production figures with amounts between $2,200 – $5,000.

Charles Blair of the Blair, McGill and Hill Group with Dr. Michael D. Goldstein have stated that “there is no greater potential for increasing your net hourly revenue than by doing your own uncomplicated endodontic procedures efficiently… analysis has consistently shown endodontics to have the highest dollar-per-hour and highest dollar-per-visit payoff of any [dental] procedure…(Source: Dr. Michael D. Goldstein)

It has been estimated that approximately 40 million root canals are performed annually in the U.S. with a greater than 95% success rate.

A UCL Eastman Dental Institute systematic review of human clinical studies on tooth survival following non-surgical root canal treatment found four conditions that significantly improved tooth survival, making it an attractive dental procedure for many dental patients. In descending order of influence, the conditions increasing observed proportion of survival were as follows:

1. A dental crown restoration after RCTx.
2. Tooth having both mesial and distal proximal contacts.
3. Tooth not functioning as an abutment for removable or fixed prosthesis.
4. Tooth type or specifically non-molar teeth.

In The Wealthy Dentist root canal survey, general dentists were performing root canals and reporting average production profits between $1,800 and $3,000 for new root canal patients, while endodontists average $1,000.

One dentist responded, “Root canal therapy is a big money maker. It’s a great way to beef up the bottom line.”

What are your thoughts on the value of a new root canal patient?

Dentists Report on Profits From Braces Patients

Dentists Report on Profits From Braces PatientsThe latest The Wealthy Dentist survey reveals that the average gross production of a new braces patient in the first 9 months of treatment in 2012 was $3,600.

The higher gross production numbers were by those dentists using Invisalign.

This supports a 2012 study that revealed, while Invisalign clear orthodontic aligners cost more in materials than conventional edgewise braces, they require fewer patient visits and a shorter duration of treatment for dentists, therefore making them the most profitable form of braces treatment for dentists.

In this survey, general dentists report average production profits between $1,000 and $3,000 for orthodontia work, while orthodontists report profits between $4,000 and $6,000.

However, a few dentists balked at the idea of looking at production profits, with one dentist responding, “We should be concerned about the quality and stability of the result, the experience enjoyed by patient and the net profit after completing and retaining the case. The big production numbers only after 9 months are very attractive but misleading so many dentists.”

What are your thoughts on your new braces patient gross production and the profits from braces for 2012?

Dentists Report Dental Practice Production Up Slightly for 2012

Dentists Report Dental Practice Production Up Slightly for 2012 SurveyThe latest The Wealthy Dentist survey indicates that 2012 production income is up for almost half the dentist respondents.

4 out of 10 dentists have experienced growth over the last 6 months, which many are attributing to dental marketing efforts and strict financial management, and many expect continued growth throughout 2012.

“After three years of flat production numbers, finally, the flood gates have opened! I hope we are now permanently over the Great Recession!” reports an Illinois dentist.

But not all dentists are upbeat about the economy.

A California dentist remarked, “The first quarter started well, but we have just finished the 2nd quarter and are producing numbers on par with where we were between 2004 and 2005. We are currently 80k off our high reached in 2007. This recovery is not happening and it appears to be getting worse.”

Dental Practice Production 2012

The survey revealed 43% percent of dentists have experienced some growth in the last months, another 21% have experienced no growth, and 36% have actually seen their practice production decrease in 2012.

This reflects a 5% increase in production compared to July 2011 responses to the same question where just 38% of dentists said their revenue in 2011 was climbing.

Dealing with dental insurance plans remain a struggle for dentists, with some not expecting to see an improvement in the ability of their patients to pay more out of pocket treatment expenses.

“With more companies dropping dental coverage, patients are postponing necessary dental treatment,” writes an Arizona dentist.

Here’s what dentists had to say about 2012 practice production —

Production is down…

“Production slightly up, right-offs up more. Net is flat.” (General dentist)

“There’s lots of cancelling of hygiene appointments and less acceptance of treatment plans — even using outside financing, which most do not qualify for. If we financed ourselves people would do more treatments but we refuse to finance patients.” (Connecticut dentist)

“This thing is not over yet.” (Texas dentist)

“There’s been a 2% decrease in production and collections.” (Louisiana dentist)

“We are down 12%.” (Minnesota dentist)

Production is up …

“Our production is up — actually 38%!” (Texas dentist)

“Best year ever!” (Michigan dentist)

“Up the first half. Will it continue? Stay tuned…” (Alabama dentist)

“A lot more people have discretionary income now and they are using it to improve their oral health. Haven’t seen this much demand in the last 6 years.” (General dentist)

“Not bad for a tough economy.” (Oklahoma dentist)

“We are predicting an even greater increase in production in the second half of 2012 compared to the first half.” (Ohio prosthodontist)

“Production has increased more than 20% but my practice is not normal. It is in it’s third year. I started it after selling my ‘old’ practice. This Dental E.R. was built with these economic times in mind. This business model is still being improved as I learn more about our clients.” (Missouri dentist)

Keeping dental patients consistently visiting their dentist while bringing in new dental patients is a crucial part of increasing dental practice production. What are you doing to keep production up at your dental practice?

The ADA Estimates Dental Spending Growth Through 2021

The ADA Estimates Dental Spending Growth Through 2021According to the American Dental Association, dental care spending is projected to increase at an average annual rate of 5% through 2021.

Total health spending is projected to grow at a slightly higher 5.7% annually or 0.9% point faster than the expected growth in the gross domestic product (GDP).

The growth rate accelerates in 2014 with expanded coverage under the 2010 Affordable Care Act.

However, the ACA will add just 0.1% point to overall and dental spending through 2020, with aging baby boomers seen as a greater contributor to spending growth.

This year alone, over 4 million Americans will turn 65.

Dentistry’s share of all personal healthcare spending has slipped in the past 25 years by about one percentage point to 5.1% in 2007; this trend is expected to continue through the year 2018, the latest year for which the Centers for Medicare and Medicaid Services (CMS) has made projections, to about 4.4%. (Source: Centers for Medicare and Medicaid Services).

But even with the dip in healthcare spending and factoring out the projected impact of the Affordable Care Act, steady gains in dental healthcare spending is projected through this decade.

The dental share of total health expenditures is projected at 3.7% in 2011 and 2021 with or without the Affordable Care Act expansions.

The ADA further projects that the annual dental services growth rate throughout this decade is slightly higher when the projections include ACA impacts.

Dental spending is projected to increase by 5.4% in 2015 over the previous year when the ACA is included and 4.4% without the ACA. The annual growth rate in dental spending accelerates after 2013 to as high as 6.6% in 2019 with the ACA and 6.4% without the ACA.

Do you think the aging boomer demographic will increase growth in the dental sector, or do you see other factors negatively influencing dental spending growth in the near future?

To read more see: Dental spending growth projected through 2021

Dentists: How Is 2011 Dental Practice Production?

dentist surveyEach Friday, we post a new dental survey question on a timely dental management topic of interest.

This week: Since demand for dental services tend to follow business economic cycles, it would stand to reason that during slow economic growth, demand for dental services can decrease. Now that the economy seems to be in recovery, have you noticed an increase in dental practice production with the new year?

Click on the link below to vote in the dentist survey, and be sure to return next week for a new question.

Tell us what you think – The 2011 Practice Production Survey

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