Dentist Believes Better Economic Outlook is Government Brainwashing Propaganda

Economic Outlook is Government Brainwashing PropagandaRecently the U.S. Central Bank reported that the economy continued to expand at a moderate pace from mid-February through late March indicating a brighter outlook for most Americans, but is the recession really over?

Only 9% of the dentists we surveyed think so.

“More government brainwashing propaganda. This recession will never be over!” said one dentist.

In fact, only 37% of the dentists surveyed feel things are starting to improve. For 56% of dentists, the recession is still going strong. However, these numbers have declined since 2010 when The Wealthy Dentist asked if the recession was over. In that survey, only 4% of dentists felt the recession was over and 78% thought the recession was still going strong.

But there’s still not much optimism out there, judging by some of the dentists’ comments to this survey —

“Do not believe the Government cheerleaders. Read what real economy PhD’s have to say. It is not pretty, but with the real facts you can plan your financial future better. Good luck to you all and God bless.” (General dentist)

“It is not over. People are simply comfortable where they are at. Big difference.” (Suburban orthodontist)

“I am seeing pent up demand coming through, although I don’t believe it will last. There are many things in the economy that are yet to be fixed.” (Texas dentist)

“Better inform my poor unemployed patients!” (South Carolina dentist)

“We didn’t go through a downturn because we quickly assumed that a “new normal” was in place and adapted to it. This meant becoming even more patient centered in terms of economics,i.e. insurance friendly, willing to phase treatment, many financial options, willing to do build ups instead of crowns. The office philosophy became “keep ’em in the practice” in 2009 and stays that way today.” (New York dentist)

“It won’t be over for at least another 5-10 years.” (General dentist)

“Not in New Jersey!” (New Jersey dentist)

“If the recession is over, then why aren’t the banks, yes the same banks that we, the American people bailed out, willing to lend again!?” (General dentist)

“The gas increase reduced the new patient calls.” (Indiana dentist)

“Dental patients who have never been concerned about being out-of-network are beginning to turn to the network to save money. Big-box offices are coming in to town and luring patients from single doctor offices. The message that the best dentistry will win out is not accurate at this time. Patients will go where they can save money. They are not as concerned about changing their standard as they have been in the past. Mediocrity doesn’t matter!” (General dentist)

“Insurance companies are continuing to lower reimbursement yet costs rise and fees are stagnant.” (Missouri dentist)

“I’ve had patients put off fillings, crowns and routine cleanings, examinations, and radiographs because they had to pay their mortgage, car payment and utility bills instead.” (Illinois dentist)

“We went from an average monthly collections of $120k last year, to $142k/month for the first quarter of 2012.” (Indiana dentist)

“We are noticing a slow improvement, but we can’t bank on that continuing. It’s way too early to tell at this point.” (Ohio prosthodontist)

“A lot of employers now have cut out dental insurance or lowered the maximum coverage. Patients now have many other expenses that they have been waiting to pay off before having elective dental treatment.” (Washington dentist)

“My practice is doing well but what about my real estate and the cost of gas? I appreciate the practice situation but it’s only part of the puzzle.” (California dentist)

“The recession is over for everything but large cosmetic cases.” (General dentist)

Dental Marketing Intelligence Report™

Dental marketing from Internet Dental Alliance, Inc. (IDA) now features a subscription to the Dental Marketing Intelligence Report™. IDA uses dental marketing intelligence to monitor economic trends in general, and dentist market trends in particular.

Dentists can use the Dental Marketing Intelligence Report™ to predict their economic future – especially whether patients are going to feel confident and secure enough to show up at your door for dental treatment. Visit www.internetdentalalliance.com/dmir to check out a sample of this valuable report.

Dentists Are Being Pinched by the Current Economic Climate

Dentists Are Being Pinched By the Current Economic ClimateAccording 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

Dentists say the recession is not overThe 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)

Read more: Dentists Say the Recession Is Not Over

Dental Implant or Dental Bridge? Patients Feel Bite of Recession

Dental implants and dental bridges: a hard choice when money is tightMore 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?

Read more: Dental Implants – In a Recession, Many Patients Choose Dental Bridges

Disclaimer

© 2017, The Wealthy Dentist - Dental Marketing - All Rights Reserved - Dental Website Marketing Site Map

The Wealthy Dentist® - Contact by email - Privacy Policy

P.O. Box 1220, Tiburon, CA 94920

The material on this website is offered in conjunction with MasterPlan Alliance.

Copyright 2017 Du Molin & Du Molin, Inc. All rights reserved. If you would like to use material from this site, our reports, articles, training programs
or tutorials for use in any printed or electronic media, please ask permission first by email.