It’s a fact: since the onset of the Great Recession in the late 2000s, many—if not all—American dental practitioners have felt and continue to feel the effects of the financial decline. In the Dental Economics article, Seven Ways the New Economy has Changed Dentistry, Dr. Roger P. Levin highlights various examples of how the industry has been impacted. For instance, certain patients have chosen to go without elective treatment, others have abandoned the dental system altogether, and moreover; most insurance carriers have created lower reimbursement plans that accommodate those who sit in the chair, but unfortunately harm the dentist.
Although the examples mentioned above are dissimilar, they all result in the same outcome, which is a reduction in profits for the dental practice.
Today in 2017, the recession is over and dentists have more opportunity than ever to be ambitious and generate as much revenue as possible for the growth of their practice. But how? The answer is simple: transition to laser dentistry and begin offering more treatment options that serve patients’ needs in-house.