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- September 2013
Although large, professionally managed group practices still only represent a small segment (7 to 8%) of the dental profession, their explosive growth in the last few years indicates that the trend will continue. That means there's also a growing opportunity for dental technicians at these practices' on-site or centralized laboratories.
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The changing demographics of the dental field could bode well for laboratories. There are more general practitioners and prosthodontists, more dental consumers and fewer laboratories. In other words, the potential client base per laboratory is growing.
Here's a look at the shifting demographics between 1998 and 2011:
The number of laboratories...
The number of large dental practices has risen 25% in just two years, according to the ADA, and although many of them have their own on-site laboratories, they often work with independent laboratories as well. In fact, nearly one-quarter of respondents to an LMT survey say they work with at least one of these large practices.
- August 2013
Written by Erik K. Curtis, DDS, MA, MAGD and reprinted with permission from AGD Impact, October 2012. (c)Academy of General Dentistry. All rights reserved. On the Web at www.agd.org. License #37166
America loves big business. Never mind the warnings of philosophers and other naysayers. For every Occupy Wall Street curmudgeon huddling under...
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- June 2013
While representing a small percentage of the overall market, there are approximately 900* U.S. dental practices—ranging from solo practitioners to corporate dental chains—with in-house laboratories. Technicians who have been on both sides of the fence—working for an independent and an in-house laboratory—say they are vastly different experiences, and many prefer the in-house situation because working side-by-side with dentists provides the ultimate opportunity for teamwork, in-depth case planning and patient interaction.
"The biggest benefit of working in-house is getting...
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- April 2013
LMT magazine's LAB DAY in Chicago is the industry's educational superdome and the place for product launches and breaking news in the U.S. This year, more than 3,100 attendees from 47 states and 49 countries came to learn about new techniques, shop for the latest products, and meet up with their peers to share business strategies. Below is an overview of the hot topics that inspried dialogue and debate during our profession's biggest weekend of the year:
Business Barometer: Mixed Reviews. A number of attendees were optimistic about the start of 2013 with many telling LMT that business was...
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- February 2013
There's a 50/50 chance your clients will switch laboratories in the next five years.
Want to know why they might jump ship? Read on.
The landscape of the dental profession is in transition. Dental school graduates are facing mounting debt. Reimbursement models are changing. Competition from corporate group practices is squeezing the solo practitioner. Capital expenditures to accommodate high-ticket digital technology are on the rise. But what isn't changing is what dentists look for from their laboratories: consistency is still king.
Since LMT began surveying dentists more than 25 years...
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- August 2012
At its Capital Markets Day event in Amsterdam in May, Straumann shared its Vision 2020 project with investors and the media. Using existing data, new research and numerous interviews with experts in the field, Straumann's management team outlined key demographic, restorative and technological trends the dental profession will experience between...
- April 2012
The 200 attendees* at How to Control the Future Before the Future Controls You, co-sponsored by Vident and Nobel Biocare, received a digital, handheld device so they could provide instant feedback to questions posed by Moderator Mark Murphy, DDS, FAGD. Their answers were immediately displayed on a large screen at the front of the room.
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- April 2011
The age-old problem of collections takes on new steam in an economy like this one. An outstanding amount that seems manageable when business is good can be alarming when dentists' workloads--and payments--are sluggish. Here, laboratory owners give their take on basic strategies for keeping accounts receivable in check.
Strategy: Put Preventive Policies in Place
I get the impression that some dentists--like many consumers--overextended themselves when the economy was booming and now are having problems keeping up. During the last year or two, many of our clients have become slower...
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Why do dentists switch laboratories? Inconsistent quality and technical problems say dentist-respondents to a joint survey conducted by LMT and Dental Economics (see Survey Demographics below). "When quality is lacking--such as inaccurate crowns, artificial-looking shades, shy flanges or the prescription hasn't been read carefully--that's when I consider a switch," writes a dentist from Harrisburg, Pennsylvania, one of the 61% of respondents who have switched laboratories at least once in the past 10 years. For details, see charts, Top 10 Reasons Dentists Switch Laboratories and Number of Times...
Read More 4 minute read
What is your business worth? No matter how good you are at running your laboratory, you probably don't know how to even begin placing a value on it. You're not alone.
When contemplating the sale of their businesses, many laboratory owners look for a rule-of-thumb formula; however, that's not a suitable means for establishing a price for your laboratory. Although these formulas provide you with a ballpark figure, they don't address all of the variables that affect value: economic conditions, market conditions, earnings history and future earnings capacity, balance of risk and reward. Throw...
Read More 10 minute read