The 8 permanent game changers
The business of dentistry is in a state of flux due to what I call "The 8 Permanent Game Changers," which are listed below:
- The great recession and uninspiring recovery
- Changes in consumer purchasing habits
- Opening of new dental schools
- Decrease in insurance reimbursements
- Expansion of national corporate dental centers
- Higher dental school student loan debt
- Fewer associateship opportunities for new dentists
- Dentists practicing eight to 10 years longer
Theses game changers have resulted in production declines for the majority of dental practices during the last three years. This negative trend will continue unless dentists begin to manage their practices more effectively.
Implement systems for today's practices. Practice systems implemented prior to 2008 are now obsolete. To grow in today's new dental economy, you need step-by-step systems that take into account the new, more deliberate decision-making process of consumers.
Don't think your practice is immune to these changes. The game changers will continue to have a profound impact on the business of dentistry, as more dentists compete for fewer patients. The more you do to respond now to these changes, the faster your practice will be able to grow in the new dental economy.
