At Titan Web Agency, we work with some of the nation's top dental practices. We consider it our responsibility to stay abreast of the latest dental industry trends and what they mean for our clients.
As the new year has already begun, it
is time to review the current trends in dentistry for 2024 and how
they’ll impact your marketing.
State of Dental 2023
NexHealth conducted its annual survey and released a report about
the state of dentistry. Here are some key takeaways that we feel are
relevant to what dentists and dental practices can expect this year.
Economic Optimism
While the economy's overall state is
still skeptical, NexHealth’s survey has revealed that most dentists and
dental practice owners feel optimistic that they will grow in 2024,
attracting more patients and earning more profits than in 2023.
While some practices are still
recovering from the financial impact of the COVID-19 pandemic, many
report that they have rebounded.
- 78% of all practices surveyed say they feel optimistic about 2024 being a year of growth. That’s up from 63% last year.
- 62% of practices said they experienced revenue growth in 2023, up from just 50% in 2022.
- 11% of practices say their revenue grew by 20% or more in 2023.
These numbers reveal a significantly optimistic outlook within the industry regardless of the overall economic predictions.
The Role of Staff Retention in Growth
Staff retention continues to be a major
focus. Dentists feel more optimistic about practice growth than a year
ago, but 74% are concerned about staff retention.
The biggest increase in optimism is
from practices that use high-retention strategies to retain staff
members. 87% of practices using those tactics say they’re optimistic
about practice growth, while only 57% of practices struggling with staff
retention feel the same way.
We’d be remiss if we didn’t mention
that staff turnover can also lead to patient turnover. Dental patients
want to feel comfortable and appreciate seeing familiar faces when they
arrive for an appointment.
The biggest hiring needs for 2024 are
dental assistants, dental hygienists, and office managers. The two top
reasons dental practice employees gave for leaving were salary (58%) and
burnout (42%).
Survey Demographics
To help you interpret the survey results, here’s a breakdown of the demographics of those who responded: