How's Business?

Nearly half of respondents to LMT's latest How's Business survey say they saw a decrease in sales and profits from 2011 to 2012 due to slower workloads and pricing pressure. "To compete with the constant barrage of solicitations my customers receive, I had to reduce my fees by 10% to 20%; this was essentially most of my profit margin," says a Washington laboratory owner. "I resisted the race to the bottom, but felt I had to be part of the solution that my customers were looking for considering the reduction in reimbursement from insurance companies."

On the other hand, 19% of respondents say business remained level from 2011 to 2012 and one third even saw an uptick in business and profitability. "I feel we found the bottom of this thing around the middle of last year and, over the last few months, there have been indicators of an increase in confidence and spending," says Sandra Stuart, President, First Impressions Dental Lab, a small laboratory in Mount Vernon, WA. "We're...