Monday, April 22, 2019

HAVE YOU JOINED THE IMPLANT TIDAL WAVE?


INTERESTED IN DOING SO?

Let's start out with some facts:
  • Implants are placed by 18% to 20% of dentists in the U.S.
  • Dentists in this group each place an average of 55 to 60 implants per year.
  • Approximately three million people in the U.S. have implants, with an additional 500,000 people having implants placed each year.
  • Worldwide, the combination of dental implants and prosthetics produced $7.68 billion in 2017 and is expected to reach $13.01 billion by 2023.
Furthermore, consider the volume of people in the U.S. who are candidates for implants:
  • 120 million U.S. residents have lost at least one tooth.
  • 36 million people are completely edentulous, and 90% of this group has dentures.
  • Another 12 million are edentulous in one arch.
  • 2.3 million crowns to fit over implants are fabricated annually.
With such numbers, it’s no wonder about one-fifth of dentists in the U.S. are now placing implants. Increasing numbers of patients are becoming knowledgeable about implant dentistry and are requesting the procedure. The science of implant dentistry is being continuously enhanced by digital technology. CBCT, intraoral scanning, and 3D printing are among the recent innovations that have made diagnosis and treatment planning for implants more precise. In addition, many insurers now cover implant procedures, up to about 50% of typical fees.

According to market research experts, the demand for implants is projected to grow at a rate of 8.8% between now and 2023. The increase in geriatric populations with age-related dental diseases, the popularity of cosmetic dental procedures, the increase in decay and periodontal problems, and the growing awareness of the effects of dental disease on overall health all work together to result in increased demand for dental implants.

Implants have been used successfully for 25 years, with studies showing a 98% success rate. If you’ve not yet joined the flood of general dentists offering implant therapy, consider investigating the possibilities. As you weigh the decision, calculate the impact of the significantly increased production on your overall office production. Investigate the best facility and faculty from whom to receive training, and include the cost of tuition, travel and per diem expenses when comparing increased production against added costs. Next, consider the up-front investment required for new equipment. And remember, the costs are an investment in your practice that will be amortized over a few years. Once up-front costs are paid, the profit margin will increase dramatically. These steps will help you decide if adding implant therapy is a positive for your practice.

Be sure to check out our Free Resources for Your Practice for additional insights, information, and practice management tips.

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