Here’s a summary of the latest economic outlook for dentistry according to the American Dental Association’s Health Policy Institute (ADA HPI):

 

Good News for Appointments:

Wait times are down! New patients waited an average of just over two weeks for appointments in the first quarter of 2024, a significant decrease from nearly 23 days in June 2023.

Staffing:

Hiring is getting easier! While dentists are still looking for dental assistants, hygienists, and administrative staff, the difficulty of recruiting these positions has lessened compared to 2023.

• In 2023, 96% of dentists found it extremely challenging to hire a hygienist, but that number dropped to 89% in 2024.
• Similarly, hiring dental assistants became less difficult, with 86% of dentists reporting it a big challenge in March 2023 compared to 77% in March 2024.

Overall Economic Outlook:

• Dentists are cautiously optimistic about the U.S. economy overall, with steady confidence in the dental sector and their own practices.

Looking for More Information?

Stay informed about the ever-changing dental landscape! Browse thru Whalen CPAs experienced backed dental blogs & visit the ADA Health Policy Institute website for the full report: https://www.ada.org/en/resources/research/health-policy-institute/economic-outlook-and-emerging-issues

 

Source:

• [1] American Dental Association Health Policy Institute: Economic Outlook and Emerging Issues in Dentistry https://www.ada.org/en/resources/research/health-policy-institute/economic-outlook-and-emerging-issues

• Category: Client Alerts, Dental & Health Care