Increased supply costs are driving up costs for dental practices, while another factor is driving down profitability, according to Brad Rand, DDS.
Dr. Rand, of Watermark Dental in Brewer, Maine, recently spoke with Becker's about challenges facing the dental industry and what he's looking forward to this year.
Editor's note: Responses were lightly edited for clarity and length.
Question: What are the biggest challenges facing the dental industry today?
Dr. Brad Rand: Since 2020, supply costs have increased at significantly higher than normal rates. Energy costs, particularly of electricity and natural gas, have increased dramatically. This, coupled with workforce shortages, has driven up operating costs for all dental providers. Dentists who are in network with insurances and are unable to increase fees to match their increased costs have seen a dramatic reduction in profitability.
Q: How do you see the industry evolving in the next three to five years?
BR: As in other industries, there is increasing pressure to automate systems to compensate for lack of ability to hire and retain personnel at wages that businesses are able to absorb. In-office fabrication of dental prosthetics and devices through CAD/CAM milling and 3D printing will continue to increase, as they provide cost-effective solutions and generally result in fewer visits and reduced patient chair time. Corporate dentistry (DSOs) will continue to decrease private practice ownership. According to the American Dental Association, two out of three dentists were in solo practice in 1999 and that number decreased to 1 in 2 in 2019. For dentists under 35, the number in private practice ownership [was] 1 in 4 [in 2019].
Q: If you could change one thing about dentistry, what would it be?
BR: If I could change one thing about dentistry, it would be how current dentists incorporate new dentists into their practices and into the dental community.
Private practice dental offices, in many cases, are not offering compensation packages that are as attractive as DSOs. Private practitioners may have equipment and office space that are outdated. Practices of older dentists who are reducing their working hours sometimes are less able to cash flow the amount needed to satisfy a new dentist's student debt load. Many private practices tend to want more extensive non-compete stipulations and are slow to offer buy-in or buy-out contracts, unless the owning dentist's retirement is imminent. As practice-owning dentists, we are not doing an excellent job incorporating new dentists into existing private practices.
Q: What are you most excited about for your career or practice this year?
BR: As adhesive dentistry is continuing to improve, preparations for indirect restorations don't require the same amount of tooth removal. For example, a loss of a molar cusp doesn't require 360-degree prep design to achieve retention of a conventional crown. A better option may be partial coverage using a glass/ceramic or resin/ceramic bonded restoration. The results are beautiful and can blend into natural tooth structure.