In an article written a year ago by Oral Health Group, the dental industry was experiencing a huge decrease in revenue due to Covid-19 and Covid-19 restrictions. At the time of the article, dental offices were experiencing approximately a 45% drop in revenue. Simultaneously, they had an increase cost of 19% associated with PPE (Personal Protective Equipment). Of dentists who retired, 40% say that Covid-19 had some impact on their decision to do so.
As of October 2021, the American Dental Association claims that patient volume was still down 10% from pre-covid levels. This article also claimed that dentists had an increase of over 60% in stress related oral conditions such as chipped teeth and TMD.
Many dentists are now able to take advantage of ERC (Employee Retention Credits) offered by our government to offset the loss of revenue.
In a recent conversation with one of our dentists, they claimed that their business is still not where it was before Covid-19. With costs up and revenue down and with fewer dental experts in the field, we are wondering how long the impact of Covid-19 will be felt by this industry. We weren’t able to find a more recent survey than October of 2021, so we decided to conduct our own survey.
Is your dental office still feeling a negative, financial impact from Covid?
___ Yes. Revenues and patient visits are still down significantly.
___ Yes, but we see things picking up.
___ Things have improved significantly and we are back to normal revenue’s
___ No. Our dental practice is busier and more financially solid than before Covid