Seventy-two percent of dentists plan on raising fees at their practices this year, according to a poll by the American Dental Association's Health Policy Institute.
The poll was taken as part of the ADA's monthly "Economic Outlook and Emerging Issues in Dentistry" report for the week of Dec. 12. The ADA surveyed 1,041 dentists about their plans for 2023, including hiring more staff, affiliating with a DSO and leaving insurance networks.
Results of the survey:
Hire more staff: 42.2 percent
Lay off staff: 2.9 percent
Affiliate with large group practice, DSO: 3.4 percent
Sell my practice and retire: 13.1 percent
Raise my fees: 72.4 percent
Lower my fees: 0 percent
Join more insurance networks: 2.5 percent
Drop out of some insurance networks: 36 percent
Other, please specify: 4.3 percent
None of the above: 8.2 percent
Responses included in "other":
Reduce overhead/scale back on spending: 20 percent
Consolidate office locations/merge with another practice: 10 percent
Sell practice but continue practicing: 10 percent
Retire: 10 percent