Declining reimbursement rates is the top industry concern among dentists, according to a 2018 national survey from Bankers Healthcare Group, a leading provider of financial solutions for healthcare professionals. Nearly three-quarters (72%) of 413 licensed dentists (both practice owners and independent practitioners) surveyed by BHG indicated high levels of concern about this trend’s impact on the industry.
“Lower reimbursement rates mean dentists take in less income, so it’s not surprising that this was the most cited concern among the audience,” said Al Crawford, Original Founder, Chairman and CEO of BHG.
When asked to rate other concerns in the industry, dentist cited:
Impact of DSOs/corporate dentistry: 61% highly concerned
This issue was less like to be a concern among younger dentists (42%) and more likely to be a concern among those practicing in a suburban office (71%)
Increasing competition saturating the industry: 49% highly concerned
This was more frequently cited by those practicing in an urban (53%) or suburban (51%) location and those aged 35-49 years old (54%)
Government healthcare programs: 43% highly concerned
This was more likely to be cited by younger dentists (51%) and those working in an urban office (48%)
One-quarter of those surveyed listed “Other” additional industry concerns, including the cost of equipment; availability of equipment; patients’ access to care; cost of education; and insurance.
BHG's National Survey of Dentists examines financial concerns, business outlook and social media use across dental specialties in the United States. To learn more about how BHG works with dentists, please visit: www.bankershealthcaregroup.com/dentists.
About Bankers Healthcare Group
Bankers Healthcare Group provides innovative, hassle-free financial solutions to healthcare professionals. Since 2001, BHG has provided more than $3.5 billion in financial solutions to satisfied customers nationwide and worked with over 110,000 practitioners. BHG is proud to maintain partnerships with leading healthcare industry associations, and is continually recognized for innovation, growth, and being a best place to work. BHG is partially owned by Pinnacle Financial Partners. To learn more, visit www.bankershealthcaregroup.com, and follow us on Twitter, LinkedIn and Facebook.
