A Competitive Industry: Dentistry in 2013

In Northern America, private dentistry has always operated under a separate set of guidelines to alternative areas of medicine. This applies to both practitioners and patients, as while aspiring dentists have access to a specialist education and greater sense of independence, everyday citizens are able to choose their service provider and level of care.

This freedom has contributed towards an increasingly competitive dental industry in Canada and the U.S., in which practitioners are becoming decidedly creative in their attempts to win new patients.    There are also other economic and technological factors that have created such a keenly contested market, and forced dentists to reconsider the service that they offer to patients.

The Factors that Influence a Thriving Dental Industry

Although the U.S. is far from having a dental office on every corner, the industry is growing at an unprecedented rate. So what factors have triggered this expansion and created a more intense level of competition between service providers? Consider the following: -

A Simple Case of Supply and Demand: On a basic level, rising levels of competitiveness within the dental industry have been triggered by an imbalance between supply and demand. The industry has always been regulated by less stringent guidelines than other fields of medicine, and it is therefore easier for qualified practitioners to establish themselves and their own private service. In contrast, widespread economic issues have made it difficult for low income families to afford regular dental care, meaning that a great strain has been placed on demand for the service.  

Improved Dental Care in North America: Thanks primarily to technological and scientific advancement, citizens in the U.S. have healthier teeth and easier to maintain levels of dental health. Practices such as water fluoridation have had a positive impact in terms of reducing levels of tooth decay, while the comprehensive range of consumer dental products have also helped citizens to take greater care of their teeth. This means that the typical patient is less likely to prioritize a visit to the dentist unless they are suffering with an obvious set of symptoms, and practitioners are therefore forced to compete for fewer potential customers.

Issues with Dental Insurance: Recent public spending cuts and amendments to the Medicaid program have been well publicized, as low income citizens have struggled with a lack of adequate dental insurance. They have therefore been forced to take desperate measures, with many who live in border states choosing to travel south and visit nations such as Mexico where the cost of dental work is far cheaper. As a consequence, practitioners such as Dr. Dan Matthews must strive to offset this in order to compete and retain local patients.

The Bottom Line

Regardless of the reasons behind growing competitiveness in the dental industry, it is clear that practitioners are having to think creatively in order to ensure a steady flow of clientele. Not only does this lead to a more enjoyable patient experience, but it also reverses the accepted wisdom that it is citizens who should be grateful for the services provided by qualified professionals. In fact, dentists in the U.S. consider themselves lucky to have access to patients in the current market, and remain committed to creating the ultimate experience for their paying customers.