survey Archives - The Wealthy Dentist

Dental Practice Management Survey: Dental Fee Increases Depend on Local Economies

April 30, 2013 By Jim Du Molin Leave a Comment

Raising dental fees This dental practice management survey asked dentists how often they raise their fees.

There’s a mixture of good and bad news, depending on local economic health.

Most dentists have raised their fees in the past 2 years.

Close to a third (30%) of the dentists we surveyed said they raise fees every year.

Almost a quarter (24%) answered that they’ve increased fees during the past 2 years, but not in the past year.

At the other extreme, 5% have lowered their fees during the past year. Said a Washington Dentist in this group, “One of our insurance providers froze our fees and lowered our reimbursement by 15%.”

The rest of the responses were split — 14% said they haven’t raised fees in over 2 years; 19% said it’s been more than 3 years, and 8% said it’s been more than 5 years since they’ve had an increase.

Although dental consultants strongly advise yearly increases, many dentists practice in locations where the local economy just won’t support increases due to high unemployment or other regional factors.

“I have a shrinking profit margin. Many of my patients have reduced or no income due to the recession and hurricane Sandy. If I raise my fees I believe fewer patients will accept treatment.” Dentist in the northeast

“I used to raise my fees every 1 to 2 years without fail. But with the economy as it has been the last few years, it has been tough to do.” Illinois Dentist

“With the economy as it is and the number of people out of work, I find it hard to raise my fees. People just cannot afford good dental care. They put off any dental work until an emergency arises.” New York Dentist

“I fell off the wagon during the recession of 07/08, but I’m back on track with yearly adjustments.” South Carolina Dentist

When was the last time you raised your dental fees?

Filed Under: Dental Surveys Tagged With: dental fees, survey

Pediatric Sedation Dentistry (Survey Video)

April 16, 2013 By Jim Du Molin Leave a Comment

Pediatric sedation dentistry can be a valuable part of children’s dentistry.

In this survey of dentists, 68% say they are in favor of children’s sedation dentistry. Note that when we asked the same question in 2010, only 52% were in favor.

“It requires extensive training and case selection is very important,” warned a pediatric dentist.

Jim Du Molin and Julie Frey discuss what dentists think about pediatric sedation dentistry:

“At our office, an MD anesthesiologist provides sedation while I perform the dentistry,” said a Missouri dentist.

“I have been doing all forms of sedation for over 30 years,” said a Texas periodontist. “Young children are very brittle and administration requires advanced training for the safest outcomes.”

“It’s the only way to treat some kids,” sighed a Georgia dentist. “I sure am thankful that I can refer to someone who does it as I would not want the liability and stress myself!”

It’s important to remember that kids are dental patients too! And sedation dentistry is a real boon to many dental patients.

Do you have any further thoughts on pediatric sedation dentistry?

Filed Under: Dental Videos Tagged With: children's dentist, Children's Dentistry, children's sedation, dental survey, dental videos, dentist survey, pediatric dentist, pediatric dentistry, pediatric dentists, pediatric sedation, pediatric sedation dentist, pediatric sedation dentistry, pediatric sedation dentists, sedation dentistry, sedation dentists, survey, survey video, video

Dentist Retirement Age: Dental Management Survey

March 12, 2013 By Julie Frey Leave a Comment

Dentist retirement age On average, dentists expect to retire around age 69. The average age of dentists responding to this survey was 55.

Younger dentists are looking at even more years of work ahead of them. Dentists under 50 expect an average dentist retirement age of 74. This group, with an average age of 43, forecasts about 31 more years of work.

Even though less that half of dentists expect to retire by the age of 65, two out of three say their retirement plans are still on track. For one dentist in three, though, retirement plans have fallen off track.

Here are some comments about dentist retirement age:

“Actually, I do not plan on retiring in the traditional sense. I plan on always being active and doing something productive with my life. Retirement = DEATH!” Nevada dentist
“Competition in orthodontics is fierce, and I am not expecting it to improve in the future. With dental insurance companies reducing coverage and a weak economy, I am just hoping to hang on to retirement.” Wisconsin orthodontist
“I don’t have a hobby to retire to. I like what I do, so I am not in a rush to retire.” Missouri dentist
“I have cut down to 160 days a year for many years, and I expect to continue to reduce days worked. I could retire financially but have no desire at this time. Instead, I only do procedures that I enjoy.” Illinois dentist
“I plan on working until I am physically in the grave. However, I want to make sure that I plan that 6 months in advance.” Colorado orthodontist
“I’m feeling pretty confident. My house and condo are paid off. $2.5M put away in plans, still funding about $200k/year, and expect to net about $700k when I sell my practice.” Indiana dentist
“Thankfully, years ago I put my 401k contributions on automatic withdrawal every two weeks as opposed to what was left at the end of the month. I never missed the extra money that I was saving, and now I am on the path to a comfortable retirement.” Connecticut periodontist
“There is a noticeable decrease in demand for dentistry, and we’ve felt it lately.” General dentist
“We should be able to retire in five more years at age 52. But I don’t want to retire! I will continue to work as long as my wife and my health will allow.” Florida dentist
“We, as a profession, are doomed to the role that Pharmacists play: working for Managed Care. Working for 50% of what was paid 20 years ago based on inflation, with impotent leadership and a willingness on the part of dental schools and those that build dental schools to make it worse by putting out twice as many professionals as the economy and the population dictates. Too bad. This is a great, great profession and has been for over 100 years.” Colorado orthodontist
“While the government employees have all voted themselves generous pension plans for life, the rest of us have no such thing. At 62, in the current environment, I have absolutely no business even thinking about retirement. My government employee contemporaries all retired in their 50′s. Wake up, America!” Illinois dentist

What do you think about the economy and dentist retirement age?

Filed Under: Dental Surveys, Practice Management Tagged With: Dental, dental retirement, dentist, dentist retirement, dentists, retire, retirement, retirement age, retirement plans, survey

Dentist Work Week: Dental Management Survey Video

March 5, 2013 By Jim Du Molin Leave a Comment

The typical dentist work week includes a lot of hours, with doctors working both as dental care practitioners and in dental practice management.

According to the American Dental Association, most dentists work a four day work week. While half of the dentists in this survey said they work four days a week at their dental practice, one in three works five or more days a week.

Jim Du Molin and Julie Frey discuss the typical dentist work week in this video.

“I now find it necessary to work on Fridays at another clinic,” said a Texas dentist. “My own practice has slowly declined in production since 2008.”

A North Carolina oral surgeon said, “I try to be more flexible with my office hours to accommodate patients’ work schedules.”

“I’ve been working more hours, partly because of economy, and partly due to decreases in contractual reimbursements from Delta Dental,” complained a Washington dentist. “We have had no fee increases from Delta in past three years, and they reduced our dental insurance reimbursements 15%. If you consider that overhead is probably around 70%, this 15% decrease represents about a 35% decrease in my net income from my practice.”

What is your standard dentist work week? Has the economy changed how much you work?

Filed Under: Dental Videos Tagged With: Dental Management, dental practice, dental survey, dental video, dentist, dentist hours, dentist survey, dentist work week, dentists, hours per week, survey, survey video, video, weekly hours, work hours, work week, working

Braces: Dentists Share Their Orthodontic Experiences (video)

February 12, 2013 By Jim Du Molin Leave a Comment

Dental braces dentist survey video

Adult braces, Invisalign, and teen braces are all popular orthodontic treatments.
And dentists don’t just provide dental braces; they’re also patients.

The Wealthy Dentist conducted a dental survey asking dentists if they personally have had braces, if any of their children had them, and if they had any further thoughts on their personal braces experience.

“I had teen braces, and I had them as an adult too, and my teeth still moved,” said a Texas dentist.

Jim Du Molin and Julie Frey discuss dentists’ experiences with braces and orthodontia in this video.

“They have become readily accepted and allow us to provide beautiful smiles and proper occlusions for patients of all ages,” declared a Michigan dentist.

“I wish I did not get them when I was younger,” said a Louisiana dentist. “Four bicuspids were removed, and it ruined my smile.”

“I had regular brackets and arch wire braces at age 40. Like many younger patients, I did not wear my retainer and had relapse,” said a Kentucky dentist. “I had Invisalign ortho at age 50 and loved it compared to brackets and arch wires. I continue to wear my Invisalign retainer going on 8 years now.”

What are your thoughts? Any personal experiences you’d care to share?