dental practice consultants

Dental Practice Statistics 2021-2020 and 2019

  • Dental Practices Made Over $1 billion in 2019 – Average Practice revenue was $1,193,934
  • 27% of Dental Practices Use Telehealth
  • 13% Plan to Use Telehealth for Other Services
  • 71% of Patients Hesitate to Get Dental Care
  • Dentists usually make 35% of  Private Dental Practice Earnings
  • A Dental Practice Should Grow Over 10% Annually
  •  Ideal to See 8 and 12 Patients Each Day
  • Average Dental Practice Retains 41% of its Patients

Statistics of Dental Practices Revenue, Patients Collections

Average Practice revenue was $1,193,934 which is 11.4% higher than in 2018

In 2019, dental practices experienced a lot of financial success compared to 2018. In fact, dental practices all over the United States earned an average of $1,193,934. With these revenues, dental practices have proven to be among the most lucrative in the economy. Compared to 2018, dental practices earned over 10% in revenues. Dental practices have recently experienced a considerable amount of growth in only one year which is quite impressive. source

27% of Dental Providers are Seeing Patients Through Telehealth

With the COVID 19 pandemic, many healthcare professionals have depended on technology to provide care for their patients. One of the most commonly used options to assist patients is Telehealth. In dentistry, many dentists used Telehealth to consult with their patients. During the past year over one quarter of dental professionals used Telehealth to provide care on a daily basis. With about 27% of dentists providing care through Telehealth, many patients are able to get the care they need without leaving their homes. source

13% of Dental Providers Will Offer Other Services Through Telehealth in the Future

As well as an increase in dentists offering care through Telehealth, over 10% are likely to offer other services through Telehealth in the future. A considerable portion of dentists now realize the benefits of Telehealth and are eager to offer more ways to treat their patients using this source. Along with dentists benefiting, patients too will be able to take advantage of the convenience associated with Telehealth. They can now consult with their dentist at home and receive advice and prescriptions through a phone conversation rather than an office visit that can be time consuming for both parties. source

During COVID 19, 71% of Patients Said They Were Hesitant to Visit the Dentist For Non Sensitive Dental Procedures and 54% Would Only See a Dentist in Case of a Dental Emergency

The COVID 19 pandemic has had a considerable effect on the lives of many including dental professionals. Patients have revealed that they are more hesitant to get dental care due to the pandemic. In a recent survey, 71% of patients said that they were not likely to visit a dentist for non sensitive treatment. These same patients have admitted that they won’t seek dental care unless they are in an emergency. 54% of patients said that they are not likely to visit a dentist unless they have an emergency pertaining to their dental health. With this data in mind, dentists will benefit by explaining to patients the importance of regular dental care as it will help prevent the possibility of a dental emergency in the future. source

Dentists Should Collect 35% of Their Daily Earnings

Many experts in the dentistry field believe that dentists need to get a certain percentage of their fees up front. According to recent data, dentists should receive at least 35% of their daily revenues. By collecting this amount up front, they are likely to earn a sufficient amount of revenue to stay in operation and make a profit. Dentists can set policies to collect this amount or higher by requiring patients to make a deposit up front or use their insurance to provide this income. Dentists who collected this amount up front were able to be among the most profitable in the field. source

Practices Should Look For an Annual 15% Growth

As well as collecting over 30% of its fees up front, dental practices should also look to grow by 15% each year. With an annual growth of 15%, dental practices are in better position to stay profitable and earn the most revenue. In order to achieve this amount of annual growth, dentists will benefit by getting a steady stream of referrals, using more effective advertising methods and also providing more personalized service. With this approach, dentists have proven to reach this amount of growth on a consistent basis year after year. An annual growth of this amount has helped many dentists maximize their earnings as well as giving them the opportunity to help establish their reputation in their local community. source

A Dentist Should See Up to a Dozen Patients

For dentists to thrive and maximize productivity, they should see several patients per day. In fact, a dental practice should serve between 8 and 12 patients on a given day. This provides the dentist with enough work to keep them occupied during the day as well as maximize revenue. Whether it’s a procedure or a routine checkup and cleaning, dentists who see this amount of patients per day will be in the best position to remain successful.  According to most dental consultants Dental practices that serve up to 12 patients per day have proven to be among the most profitable. source

Dental Practices Keep Less Than Half of Patients

One of the keys to success for a dental practice is to retain patients. Since dentists need a steady stream of revenue, they benefit most by keeping as many patients as they possibly can. According to recent data, dental practices retain an average of 41% of their patients. While this amount is decent, it is important for dental practices to retain even more patients as they can in order to grow and avoid closure in the future. While retaining even more patients is common among many practices, a dental practice should make sure that it retains over 40% of its patients so that it maintains a stable income. This will allow the practice to provide good salaries for their employees, serve more patients and acquire the equipment necessary to provide the best possible care. source

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