Further competition. This creates a glut in the dental market, with more dentists graduating from dental school and fewer dentists being able to retire (also because of their high debt load). In 1970, there were 116,000 dentists practising in the US Census reports; by 1996 (the statistics for the last year are available) that number rose to 196,000. This historical data would suggest that at present (2011) the number of dentists practising in the US is twice as high as it was in 1970. Pop over to this web-site Family Dental Station – Glendale
The over-supply of dentists is apparent because population rates did not double during the same time frame (population: 203,392,031 in 1970, and 310,759,842 today).Lack of Business Practices. While dentists are receiving adequate training on dental procedures today, they are unfortunately under-trained in how to run a business. The majority of dental students with student loans that can amount to $80,000.00 per school year come out of dental school. As an associate, they begin work in a dental practise, open a new practise or purchase an existing practise.
Most graduates begin their careers with close to, or more than, one million dollars in debt, but they start working in dentistry. The debt, added to the absence of knowledge in business training and marketing, creates the ‘perfect storm’ for potential bankruptcy. Plans for Marketing. Ask almost any dentist to share with you their marketing plan, and they will probably show you their yellow pages and their website advertisements. Unfortunately, this is NOT a strategy for marketing. The advertising is ONLY. Customer follow-up, community involvement, networking, online promotion and numerous other strategies to maintain and grow business must be included in marketing. In order to ensure their success both now and in the future, what can the family dental practise do? Basic practises for business. First and foremost, the owner of a dental practise must remember that their practise is a company and must be treated as such.