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In the dynamic world of dentistry, advancements in technology continue to redefine patient care, practice management, and the overall landscape.
In our monthly article series, Tech Talk, we delve into the latest breakthroughs in dental technology, aiming to provide DSOs, dentists, dental professionals, and enthusiasts with insightful glimpses into the future of oral healthcare.
With each installment, we’ll explore a diverse array of topics ranging from revolutionary treatment modalities to innovative software solutions, all designed to enhance efficiency, improve patient outcomes, and streamline practice operations.
Whether you’re a seasoned professional seeking to stay abreast of the latest trends or a curious newcomer eager to explore the frontiers of dental innovation, Tech Talk aims to showcase the transformative potential of emerging technologies in the dental field.
Tech Talk navigates the ever-evolving landscape of dental technology and DSO innovations, uncovering the tools and strategies that are shaping the future of oral healthcare delivery. Together, let’s embrace the possibilities of tomorrow, today.
Henry Schein One Industry Report Finds Co-Pay Collection Rates Up Nearly 10% from Previous Year
This past year the dental industry has seen a rise in optimism, with many practices experiencing positive changes. While hurdles like rising costs, stagnant reimbursement rates, and staffing challenges remain, top practices are finding creative ways to thrive by investing in innovative technologies, partners, and solutions.
Henry Schein One is proud to launch our third annual Benchmark Study, sharing how the top 10% of dental practices from our collected data stack up against industry averages across key success metrics. We’ve collected data and calculated performance benchmarks for over 2,500 dental practices and compiled it to help dental businesses measure their performance against their peers and understand strategies that make it possible for top organizations to differentiate themselves from the pack.
Our key findings show that no-show rates have dropped from 7% to 4% across the board, but patient retention overall remains flat.
We’ve also seen a dramatic rise in co-pay collection: 75% in 2022 vs 84% in 2023. Production per hygiene provider per day has also seen a substantial rise: $1,234 in 2022 vs. $2,494 in 2023
Other key findings:
- Top providers boast a 99% patient retention rate. The retention rate for the average dental practice? 57%.
- Average appointments per day for the top 10% of providers: 107
- Average appointments per day for the average dental practice: 36
- The top 10% of providers nearly double the average in daily gross production. Their average gross production per day (office): $17,874. The average dental practice has a daily gross production of $9,991.
- Time to payment for the top 10%: 20 days
- Time to payment for the average provider: 7 days
Top organizations already know that technology and automation are the future of the dental industry, with leading providers already investing in their future and the solutions that unlock better for patient and practices.
Interested in the rest of our findings? Check out the full
Henry Schein One Industry Report, powered by Jarvis Analytics.
Tech Talk is sponsored by Henry Schein One. Henry Schein One, the leader in all things dental software, empowers dentists to focus on patient care, ensuring practice success.
With its simple and integrated software, practices are finally more seamless, more efficient, and more profitable—meaning patients and practitioners are happier. With comprehensive solutions: demand generation, patient experience, practice management, revenue management, dental analytics, and clinical workflow, dental practices will be running smoother than ever before.
Henry Schein One, LLC, is a joint venture between Henry Schein, Inc. (Nasdaq: HSIC) and Internet Brands. The company’s portfolio of leading brands includes Dentrix®, Dentrix Ascend®, Jarvis Analytics™, TechCentral™, Lighthouse360+, and DentalPlans.com®, along with solutions offered through international companies, including Dentally and Software of Excellence, among others. For a full list of our brands, please visit our website or connect with us on LinkedIn.
