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IS THE DENTURE BUSINESS A GOOD BUSINESS TO BE IN?
Asking yourself the question above? Just look at the staggering facts.
In the US alone, there are an estimated 61 million denture units being worn today. “The adult population in need of one or two complete dentures will increase from 33.6 million adults in 1991 to 37.9 million adults in 2020.”1
If 10 percent of these existing patients have new dentures fabricated each year and the average dentist charges $1,400 per denture, this results in an estimated 8.5 billion dollars being spent each year on dentures!
Still asking yourself if dentures is a good business to be in?
WHAT IS WRONG WITH THE TRADITIONAL APPROACH?
However, most denture professionals have become frustrated with the old techniques learned in dental school. Those exhaustingly extensive procedures are still followed in the dental office and laboratory.
Sometimes four or more doctor hours are spent, all the while producing a denture that so often is rejected by the patient. Five or six appointments are often needed, possibly followed by after-treatment adjustments.
Think that business model maximizes your denture practice or labs profitability? Time to review the biggest costs in a denture practice and lab.
WHAT DETERMINES DENTURE PROFITABILITY
Of all the numbers that your profit-and-loss statement show, there are really just four of them that show practice health and propensity for consistent profitability. Paying attention to these can make the difference between a growing and a stagnant denture practice and lab.
First is staff expense. These should be kept under 25% of revenue, which is tied to production. Making your staff more productive will decrease your staffing costs as a percentage of revenues thus lowering your staff expenses.
Second is the cost of dental laboratory work. A market common percentage is approximately 10% and dental offices generally charge five times the lab costs.
The value of dental laboratory work goes well beyond the price and also includes the strong relationship between doctor and lab which can further improve communication and, therefore, quality of the end product.
Third, supply and inventory should be kept low – at 5%.
Fourth, facility costs should be kept around 6% and this number is also tied to production levels. Produce more and this number will come down.
Although the previous numbers are crucial, one of the most important factor in denture profitability is still chair time.
TIME EFFICIENCY IN THE DENTURE PRACTICE
Dental office consultants found that most practices are terribly inefficient in time management, wasting two to four hours of time virtually every day.
There is a huge difference between being busy and being profitable.
Practicing better time management in denture offices can cut the appointment backlog in half and increase production dramatically without raising fees. Not to mention the significant stress reduction of staff and patients.
Add to that a denture process that reduces chair time up to 50% and the productivity increases significantly, which not only boosts your bottom-line but practice health and propensity for consistent profitability. That denture process is AvaDent Digital Dentures.
HOW AVADENT DIGITAL DENTURES IMPROVE YOUR BUTTOM-LINE
Researchers found that half of all dentists will not even do dentures because they feel they are too time-consuming, unpredictable, and unprofitable. AvaDent Digital Dentures can help – providing predictability, exceptional fit, and profitability for the denture office.
This along with the comfort, convenience and happiness of the patient – which leads to greater patient retention, word of mouth referrals and a sustainable practice.
As the world’s first and only digital removable platform, AvaDent Digital Dentures needs only an initial record taking appointment, followed by a second appointment to deliver the final AvaDent, or an AvaDent Try-In. In cases where the dentist, denturist or prosthodontics requests an try-in, the third appointment becomes the delivery appointment.
The secret of success for an AvaDent is capturing all the records necessary during the first appointment. AvaDent has developed a unique technique and materials to help the dentist create the perfect impression.
One example is the Anatomical Measurement Device or AMD lets you easily capture all the records. The final impressions and AMD are then scanned, the files are merged and a virtual AvaDent is created within the AvaDent Digital Platform. But there are more easy ways to get the right records.
TWO-APPOINTMENT PROCEDURE
This two-appointment procedure will cut chair time in half and deliver huge productivity improvements, which will lead to higher profits without changing fees. AvaDent’s accurate and prompt denture service also means patients can have new or replacement dentures in less time, with fewer post-op visits.
AvaDent Digital Dentures will dramatically reduce your denture product costs and the amount of labor involved in each denture fitting. Lower cost and less labor provide huge opportunities to grow denture practice and lab profitability. Add this to the adult population growth in need of dentures and your practice will have a profitable growth engine for years.
References: 1 – Will there be a need for complete dentures in the United States in 2020?Douglass, Shih, Ostry: J Prosthet Dent. 2002 Jan;87(1):5-8.
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