Bulletin, October 2014
The Latest in Area Economic and Technical Trends
Exclusively to Clients and Friends
of Advanced Practice Management
THE DENTAL DOW – THIRD QUARTER 2014
2014 SURVEY TRENDS
PROTECT YOUR WEB PRESENCE
THE DENTAL DOW – THREE QUARTERS THROUGH 2014:
Our sample of 35 mature area practices show practice production up 3.8% and collections up 2.8% compared to the same period last year. New patients are up 6.7% with overall patient flow as measured by exams up 2.9%. Crown and bridge is up 2.5%.
The first quarter of this year was up about 2.7% so it looks like things freshened a bit through this year. Remember that in 2009, practice production was up just .5% and collections weredown 4%. New patients were down 2.8%.
So the statistics are subtle but they do give us an indication of the general direction of things – if we have a headwind or tailwind. It looks like it’s not a headwind anyway.
THE UPPER MIDWEST DENTAL ECONOMY:
We will be releasing the results of our annual survey soon. Preliminary results show the following:
PPOs:7% of practices said they had dropped a PPO in the last year and 12% have enrolled in at least one more.
MetLife and Delta PPOs held to about the same percentages as last year (25% and 30% respectively) but we are seeing more participation in the other networks such as “Connection.” We generally recommend that you go slowly in signing up with these networks.
As always, if you are considering joining or leaving a PPO, we strongly advise that you talk to us. And, if you are collecting under 83% of production, odds are good that you are probably participating in more PPOs than you need to. Again, these are serious decisions and each practice situation has to be taken into account.
DENTAL FEES 10 YEARS AGO:
We peeked into our data base and found out the dental fees in the Metro Area have increased 38% since 2004 (36% in the Outstate Area). Over the same period of time, according to the Bureau of Labor Statistics, inflation has run at an average of 2.6% per year.