by Roger P. Levin, DDS
At seminars, I meet many dentists who are anxious for things to return to the way they were. They long for the days of less competition, the days when getting new patients was easier and case acceptance was higher.
The truth is that we will never return to how things used to be. Taken together, the following eight “game-changers” demonstrate that American dentists are in an entirely new situation — one that they have never faced before. Although some game-changers may seem daunting, proactive dentists can ensure bright futures for their practices.
1. The Great Recession and an uninspiring recovery
We have been assured that the recession ended several years ago. Yet, the recovery has been underwhelming for most Americans. A federal survey has revealed that the median family net worth dropped a staggering 40% in 2010 from 2007.1 Investment gains have been anemic and unemployment has continued to plague most areas of the country.
As dentists have discovered, this recession has been like no other. In the past, recessions came and went without greatly affecting dental practices. This recession was different. As the Levin Group Data Center™ indicates, 75% of dental practices have suffered sustained declines that have not been completely reversed. Read more