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Will You Leave Dentistry A Millionaire?

Dentistry is perpetually ranked as one of the best, if not the best, professions in the country. It scores very high on income, work-life balance, and growth prospects. Given those advantages, it’s a wonder that every dentist doesn’t retire a millionaire. All too often, though, dentists leave dentistry with not nearly enough money to fund a comfortable retirement. That shouldn’t happen, but the reasons why dentists retire broke are obvious to the informed observer. However, in almost all cases, those reasons aren’t what you would think. Wrong Approach, Wrong ...

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Is the Single-Dentist Practice Doomed?

According to a recent article, more and more new dental school graduates are choosing one of two paths – going to work for a large group practice, or purchasing an existing practice. The combination of high dental school debt, the outlay for facilities and equipment, and staffing up a new practice can put a new dentist some $750 thousand dollars in debt. That’s a powerful disincentive for many, and those new dentists are going to work for corporate chains or local group practices. Either choice is bad news for the single-dentist practice. Corporate chains are long on cash, with ...

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Dentists are #1. Are You?

Dentistry is a great profession, and U.S. News & World Report just confirmed it. Again. After falling to number two behind orthodontists last year, dentists have now regained the top spot as the best profession in the magazine’s annual ranking the year’s best jobs. That’s the good news – you’re a part of the best profession in the United States, ranked on: 10-year growth volume and growth percentage; median salary and job prospects; employment rate; and stress level and work-life balance. Are you feeling lucky? If not, why not? Could it be that your 10-year prospects ...

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The Year in Dental Marketing

This isn’t a post about 2016. It’s about what you’re going to do in 2017 to reach and exceed your goals. This is the year that you have a chance to do things differently. Not because we’ll have a new President in the White House. The pundits are all over the place trying to predict what new policies or changes to existing policies might happen. No, this is your year to do things differently with your dental marketing because at best you’re getting what you’ve always gotten. At worst, you’re not getting enough, and you’ll keep on getting not enough unless you change your ...

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Is Dentistry Coming to Drugstores?

Soon, Millennial dental patients may be able to have a filling replaced while their prescriptions are being filled. The ADA Health Policy Institute released the results of a representative national survey of Millennials ages 18-35. The survey found that nearly 40 percent of respondents were very or somewhat interested in getting dental care in a setting like Target, Walgreens, or CVS. Among those surveyed, the results varied significantly only by race. One-third on non-Hispanic whites were in favor of the idea, while 45 percent of black respondents and 47 percent of Hispanics were ...

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Your One Advantage Over New Dental School Grads

An article in the ADA News touted the expansion of a program designed to prepare those hungry and debt-ridden dental school graduates for the real world. ADA Success covers such areas as practice management, money management, employment agreements, and finding a job, among others. One thing that the program doesn’t explicitly cover is dental practice marketing. If those new graduates open their own practices,  they’re going to have learn marketing as they go along. Just like you did, probably. Think back to when your first hung out your shingle. What was your marketing approach ...

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Internet Growth Threatens Dentists’ Profits

According to a recent post, the past 24 months saw the appearance of nearly 350 million new websites. That’s an average of 14.6 million new websites every month. It’s getting harder than ever to reach the potential patients you want. Clearly, only a tiny fraction of those new websites are for dental practices, and only a tiny fraction of those are dentists in your market. And, it’s the rare individual who spends time cruising dental websites for fun. But those staggering figures mean that the competition for people’s attention is growing at a rate that no one ever ...

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Why are Dentists’ Incomes Continuing to Fall?

An article last month in Dentistry Today reported that annual incomes for GP dentists have been declining since 2005. That information is based on the ADA Health Policy Institute’s Survey of Dental Practice. 2014’s average earnings were down over $9100 from 2013’s average of $183,885, and represent a drop of 20 percent from 2005’s peak. The article mentioned “a broad set of factors” beginning in the early 2000s related to the continuing income decline and singled out two: the beginning of a trend toward less demand for adult dental care, and an increase in the number of ...

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READY TO THRIVE?

If you’re ready to begin getting the only result that matters from your marketing - more and better patients in your chairs - get started today and schedule your Practice Discovery Session™. They’re free to serious dentists who want to see a Patient Attraction System™ that can double or even triple their practice.