In the November and December issues of Dental Economics, you’ll find “2008 Dental Economics/Levin Group Practice Survey.” The survey goes in to great detail to reveal why dentists are feeling so stressed out these days. We’re told that about 25% of dentists “are experiencing high or extremely high stress” and that as the economy worsens, this number will likely rise.
After all the research and number crunching required for this annual survey, it seems that the dental industry is still doing reasonably well, though the future seems uncertain. With an increase in doctor compensation and production, as well as hygienist and practice production, the statistics look pretty darn good. However, past due accounts receivables are mounting, with 23% at over 60 days, and staff wages are high right now. In the articles, Dr. Levin states, “This is a very challenging time for dentistry and the country.” He recommends that dentists gather as much information as possible to understand, prepare, and overcome the economic struggles our nation is experiencing. To review the survey results and get some great administrative tips, check out the article online:
Other December Jewels… You may also want to review “Hope is not a business strategy” by Dr. Bill Blatchford to explore how you can find optimism and emotional stability during these stressful times. DE also published “Dentsitry and the recession,” a piece by Dr. Louis Malcmacher on implant dentistry to boost practice production.