DELRAY BEACH, Fla., July 2, 2013 /PRNewswire/ -- Change within the dental industry is astir...and these changes are rapid, pervasive, and challenging. They affect virtually every aspect of dentistry, and impact not only those of us in the industry but also everyone that seeks routine dental care each year.
Dentistry Follows Medical
And yet, these changes within the dental industry don't come as a surprise to those who monitor macro trends across industry sectors and have long observed that Dental industry trends and business structures generally follow those adopted by the Medical industry...but with a lag of about 15 - 20 years. 'Dentistry follows Medical' is a truism!
Think about it. About 50 years ago the Medical industry began its migration from generalized to specialized delivery of its services. The medical practitioner of many years ago was a generalist and did it all...treating minor medical conditions to life-threatening diseases, taking x-rays, delivering babies, and performing low complexity surgery. But through the years, medical practitioners' ability to provide more in-depth, effective, efficient, and technologically advanced patient care motivated them to adopt specialized service delivery.
That same evolution toward is being experienced in dentistry today. Where once the general dentist performed most, if not all, of the treatment for his/her patients, that is not the case today. Dental specialists abound and, similar to their medical practitioner counterparts 15 – 20 years ago, are today providing in-depth, effective, efficient, and technologically advanced specialized treatment that enhances the oral health of their patients.
Rising Education and Technology Costs
There are several factors contributing to this evolution in dentistry. One key factor is the soaring cost of a dental education, which now far exceeds the resources of the vast majority of American families. Recent dental school graduates are burdened with an average of $250,000 in education debt. Weighed down with debt, dental graduates are hindered from starting their own practices, which require significant capital investment.
Additionally, rapid advancements in technology in the last few years, including ultrahigh-speed drills; better analgesics; new filing, bonding, and implant compounds; and computer-imaging and laser bonding systems, have considerably changed how dental practices work. However, these technological advancements – which on the positive side enhance clinical diagnosis and treatment capabilities for the practitioner and significantly benefit patients – are expensive, and only add to the economic burden of starting a practice. The result of these evolutionary changes is that recent dental school graduates are increasingly motivated to join large group or corporate practices.
Three Practice Business Models
Today there are basically three business models in dentistry: a) the Solo Practitioner, who normally works alone or with another dentist and is unable to reap the benefits of cost sharing or economies of scale, and thus is finding it very difficult to compete in the evolving dental environment; b) the Large Group or Corporate practices, which normally have multi-locations and seek to generate high volume, reduce capital and operating costs, while achieving economies of scale and increasing revenue, and; c) the Internally Managed Multi-Specialty Dental Group practice, which have general and specialized dental services in one location, and are characterized by their dedication to providing the highest quality of dental care for all their patients.
The Spodak Dental Group is proud to be the premier internally-managed multi-specialty practice in southeast Florida that has grown on the passion and promise to provide the highest quality treatment, exceptional patient care, and extraordinary results. As the song says, 'The times they are a-changin', and we are excited to be an integral part of the evolving face of dentistry!
Spodak Dental Group, located in Delray Beach, Florida, is a comprehensive dental practice providing all general and specialty services in one convenient facility. Their team of General and Restorative Dentists, Endodontist, Periodontist, Board Certified Oral and Maxillofacial Surgeon and Anesthesiologists are uniquely equipped to evaluate and treat all your dental health needs. Call 561-498-0050 or visit them at http://www.SpodakDental.com to schedule an appointment and inquire how Spodak Dental Group can help you attain the healthy smile you deserve.
SOURCE Spodak Dental Group