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How to Deal With the Coronavirus Business Slowdown (As of March 18)
Dear Past Member:
On March 16, the American Dental Association (ADA) acted to mitigate the spread of the coronavirus (COVID-19). In an unprecedented move, the ADA recommended that dentists nationwide remain open, but postpone elective procedure for the next three weeks ending April 6. The ADA further recommended providing emergency dental care that will alleviate the burden that dental emergencies would otherwise place on hospital emergency departments, that may be overwhelmed due to the expected spike in the number of infected coronavirus patients. The ADA’s announcement followed similar actions taken by several state dental associations.
While the ADA’s action is in the form of a recommendation, some state dental associations have strongly recommended the same action, and others may even require it. As such, we expect the majority of dental practices to comply.
The Impact
While this action will undoubtedly help mitigate the spread of coronavirus, it will have a profound impact on your dental practice operations and related cash flow. Eliminating all routine (hygiene, progress checks, follow-up, etc.) visits and other elective procedures, and providing only emergency services will likely reduce production by 90% or more for most practices. Depending on the level of your emergency visits, your practice may be operating with just one doctor, one assistant, and one front desk staffer present. Practices with lower levels of emergencies may simply close the doors, but have the doctor and an assistant “on call” to handle emergencies as they arise…
Click here to continue reading the full article online.
As a past member of The McGill Advisory who has opted to continue receiving our Email News, you’ll receive updates of this article with news surrounding coronavirus and its impact on dentistry. For 24/7 access to more news and exclusive, members-only articles and resources, please feel welcome to renew your membership at any time. We remain committed to providing the dental community with relevant news and advice—to help you manage your practice and personal finances, during these trying times and always.
On a personal note, I’d like to extend our team’s sincerest wishes for good health and safety for you and your family, staff, patients, and community.
| Sincerely,
John K. McGill, CPA, MBA, JD |
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