Post pandemic, many laboratories are busier than ever and expanding caseloads are contributing to a positive business outlook. For example, two-thirds of the respondents to LMT’s 2023 Fee Survey rate the current economic health of their labs as “excellent” or “good.”
In addition, the majority say their sales and profits were either “mostly level” or “slightly up” during the first half of the year. (See chart below for further details.) “We downsized but our profit percentage is up; we think we will be close to 20% net, up from 9% net in 2022. We are no longer interested in growth just to be bigger. We have gone back to being a high-service, higher-fee laboratory. We now have the time to give our clients our best and our staff fair pay with less stress,” says Don Inman, President, Inman Orthodontic Laboratory Inc., Coral Springs, FL.
To ensure their continued success and...
