In the Business of Dentistry, Production is King

Dental practices are businesses, and at times they can be quite complex. In the past, dentists could more easily open an office, gradually generate a desired patient flow, and create a successful business, along with a comfortable lifestyle and safe retirement. The supply and demand dynamics generally favored dentists, leaning toward practitioners almost automatically having successful careers. Much of that has changed in recent years. Many dentists are now confronted with greater student loan debt and higher interest rates on loans and financing for practices than even a year ago. Unlike in the past, dental insurance is now a part of most dental practices, with dental insurers periodically lowering reimbursements. Most recently, practices have had to tackle new regulations regarding practice operations and infection control as well as significant staffing challenges. These issues, and others, have heightened the complexity of the business of dentistry.