Here are six trends and statistics showcasing how private practice dentistry is evolving:
1. Increased competition from DSOs has led dentists to rethink their approach to private practice to optimize success, including taking advantage of opportunities to enhance patient care and reduce operational inefficiencies.
2. TUSK Practice Sales, a healthcare M&A advisory firm, recently reported that several states have more than 40% of active dentists aged 55 and older, representing one of the largest potential seller pools in the dental M&A market to date.
3. Dentists are facing compounding factors fueling financial troubles for their practices this year, including stagnant reimbursement rates, rising staffing and operating costs, and lower consumer spending.
4. Dentalpost reported earlier this year that more practice owners are considering retirement, practice sales and ownership transitions, but few dentists have reported formal transition or mentorship plans, pointing to potential continuity risks for private practices.
5. Seventy-seven percent of dentists are owners or partners.
6. Eighty-three percent of dentists work in private practice.
At the Becker's 5th Annual Future of Dentistry Roundtable, taking place September 14-15 in Chicago, dental leaders and executives will gain insights into emerging technologies, practice growth strategies and the evolving landscape of dental care delivery, with a focus on innovation, patient experience and operational excellence. Apply for complimentary registration now.
