Buyer's Guide Update: Practice management software and financing

Dear Buyer's Guide Update Member,

This edition of the DrBicuspid Buyer's Guide Update looks at two product categories that are quite timely, given the current economic climate: practice management software and financing services.

Historically, even in a down economy, dentistry has been a resilient industry. But dentists are feeling the pain of the recession, with reports of little to no growth in active patients and a slightly slower growth rate in overall practice production (source: 2008 Dental Economics/Levin Group practice survey).

As a result, many dentists are increasing their marketing efforts and streamlining their practices by cutting overhead and generating new revenue. Even practices that have updated or replaced their systems in the last three years can still find ways to increase productivity, production, and profitability.

This is where practice management software can play a key role: by automating and digitizing functions that many practices still perform manually, from diagnosing and charting patients to scheduling, billing, writing treatment plans -- nearly every aspect of dental operations. It has been estimated that practice management software can save a dental practice nearly $40,000 in annual staff costs by eliminating functions that were previously done by hand.

For current information about practice management software products and suppliers, check out this DrBicuspid Buyer's Guide category:

Practice Management Software

With appointment cancellations up, patient traffic down, and patients increasingly pushing back on higher-end dental treatments, a growing number of dental practices are finding it can pay to offer their clients a variety of financing options -- even interest-free loans.

Many of the companies that offer patient financing services also offer dental practice financing. Many types of programs are available for dental professionals, whether you need financing for working capital, updating or remodeling your office, or buying equipment: computers, lasers, imaging systems, and more. In fact, one of the few bright spots in the current economy is lower prices on electronics. Now might be the time to think about investing in the digital future.

For current information about financing companies and services, check out this DrBicuspid Buyer's Guide category:

Financing Services

You can also click on any of the links below for more information about individual products and services. If you're a vendor and would like to update your Buyer's Guide listings, just send an e-mail to [email protected] to get started.