Another year is upon us. A new year usually represents hope, resolutions, and positive intentions for success, health, happiness, and prosperity. I personally enjoy the optimism and exuberant energy that a new year brings. Moreover, I enjoy identifying personal and professional goals and formulating a plan to achieve them.
This year is particularly interesting. As we look forward to reaching new heights in our practices, we are still experiencing effects from the pandemic. Economic challenges and uncertainty might deter the optimism and enthusiasm that the new year tends to bring. Many dentists are still managing their practices while short-staffed. Inflation, supply chain delays, and dwindling insurance reimbursements could further constrain our profitability. These extrinsic challenges exist and could have many dentists facing the new year with pessimism.
But is that really necessary? Can we overcome these obstacles and persevere through these trying times?
Building a dental practice that sparks joy
Dental practice overhead: Cut costs without sacrificing quality
This month’s Dental Economics focuses on overcoming these obstacles that we are facing. Challenges provide opportunities, and it is evident that we can prosper by implementing strategies, including creating a satisfying office culture, reducing overhead, and being creative and flexible with the roles of the dental team. Dr. Roger Levin shares his insights about how today’s economy will affect dental practices and what we can do about it. In addition, Tonya Lanthier shares her annual salary survey, which I found to be very enlightening. I like discovering how my office compares to her data, and I think you may experience the same sentiment. Some dental practice owners may be considering selling, and this month’s issue provides advice regarding ownership transition.
This year is sure to bring some exciting things for Dental Economics, and I’m thrilled to announce that our Principles of Practice Management Conference will take place October 13-14, 2023, at Caesar’s Palace in Las Vegas, Nevada. I am bringing in some of dentistry’s leading experts to impart their knowledge, experience, and advice on how to generate wealth. This conference will be a “don’t miss” for anyone with debt, aspirations for practice ownership, or retirement on your preferred timeline.
I am also delighted to announce that we will continue our weekly online events, DE Solutions Labs, where we identify challenges in our practices and gain solutions from industry experts. These events have had a tremendous response from our audience, and I look forward to another year of solutions. They have certainly helped my practice and I hope the same for you! Follow @dentaleconomicsofficial on Instagram for upcoming DE Solutions Lab events and visit our website to view past events.
I have a few more things planned this year, but I can’t share everything … I’ll have to keep you in suspense as our new initiatives unfold!
Editor's note: This article appeared in the January 2023 print edition of Dental Economics magazine. Dentists in North America are eligible for a complimentary print subscription. Sign up here.
