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

Dentists Report the Value of a New Dentures Patient

Dentists Report the Value of a New Dentures PatientThe latest The Wealthy Dentist survey reveals that the average gross production of a new dentures patient in the first 9 months of treatment in 2012 was $3,790.

Suburban dentists reported the higher production figures reporting amounts between $5,000 – $8,000.

Currently, there is much speculation among dental educators that the need for complete dentures will decline markedly in the future and that complete denture training should be removed from the dental curriculum.

Estimates based on national epidemiologic survey data indicate that edentulism has declined by 10% every decade and that 90% of edentulous adults obtain and wear complete dentures. (Source: U.S. National Library of Medicine)

However, when the number of adults in each specific age group is multiplied by the percentage who need a complete maxillary or mandibular denture, the results suggest that the adult population in need of 1 or 2 complete dentures will increase from 33.6 million adults in 1991 to 37.9 million adults in 2020. The 10% decline in edentulism experienced each decade for the past 30 years will be more than offset by the 79% increase in the adult population older than 55 years. (Source: U.S. National Library of Medicine)

In this survey, general dentists report average production profits between $1,000 and $8,000 for new dentures patients, while prosthodontists average $4,500.

One dentist responded, “While a set of dentures is $5000 most patients in my practice are either overdenture or implant retained. I rarely edentulate a patient but will frequently make interim overdentures with locators as the first step of extensive treatment plans.”

What are your thoughts on new dentures patient gross production for 2012?

Practice Management: The Economy Has Changed Dentists’ Work Week

Dental Practice Management: The Economy Has Changed Some Dentists' Work Week (video)Dentists’ work week involves more than just treating patients.  There are also dental practice management issues that have to be attended to.

Often dentists devote four days a week to patient care and reserve the fifth day for practice management and administrative tasks.

According to the ADA, dentists work an average of 35 hours a week and another 3 hours managing their dental practice.  But the number of hours worked can vary greatly among dentists depending on the size and scope of their dental practice.

The Wealthy Dentist decided to conduct a survey that asked dentists how much they work in a given week.

An Oregon dentist responded, “Hours are not as productive as before the financial crisis. I am just now seeing a bit of an increase in patient acceptance and involvement in their care. Many who have lost their jobs and insurance want a ton of work done before the insurance goes away and want me to finance what the insurance doesn’t pay. Does not seem like a win/win to me.”

Some dentists have changed their work hours to attract new dental patients by working evenings and weekends to meet their dental patients’ needs since many have taken on second jobs, or are working more hours themselves.

To hear more of what dentists had to say about the amount of hours they work each week, Click on Play to watch the following short video —

 


How many hours a week are you working?  Has the economy altered your work week?

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