An unprecedented time has come over all businesses internationally. Even now, no one is entirely sure what’s going to turn out from this pandemic. However, it is crucial to keep in mind what COVID-19 has taught the dental industry. It is that regardless of any situation, using ration and basic principles. It helps with making the most logical conclusion about the industry.
What to Expect in the Next Few Months
After the quarantine, there has been a rush and high demand for the tertiary sector (service) workers. As a result of the months of service that they have missed during the quarantine. However, there have also been many regulations that have been put into place.
One of the more fortunate things about the dentistry industry during COVID-19 is that it’s unlike most other businesses. There is always going to be a demand for dentistry. Tooth decay and wisdom teeth will never go away without the help of professional dental practice. Rather than a loss in revenue, it’s more of a “delayed revenue” because people will need these issues resolved.
Recently, there has been a surge in businesses at many practices that have returned. However, what we don’t know is how the surge will build or drop quickly. There is a limit to what we can predict to happen regarding the pandemic’s magnitude.
Another big topic to speak on is the staff. Many doctors are now back in need of capable staff in this time of urgency. Before, finding staff wasn’t difficult, but because of the virs It’s best to stay prepared, especially in situations like these.
What to Expect in the Long Term
As many practices have been open, it’s been reported that very few have had a negative impact on their revenue/earnings, if any. Of course, there will always be individual exceptions, but for the majority, the dentistry industry is unbelievably resilient.
Shown in the past, recessions have less of an impact in the dental office in comparison to the majority of other businesses. Stock investors predict that dental practices are the least impacted by the pandemic.
One of the key factors in the existing demand for practices is strong selling prices. With such high numbers with dentists, especially in the California area, there is a high demand for equipment and material. Although it may sound counterintuitive, when looking back on the 2008/2009 recession, dental practice selling prices increased. One of the reasons for this increase is the demand they have for dental selling practices. Price and demand play hand in hand with each other in regards to this situation.
What We Can Take Away From This Experience
The many dentists and hygienists who are members of the state organizations have contacted legislators with what they believe is appropriate for dentistry as a whole as well as patients. Then, these legislators can contact the government officials, and thus, guidelines can be developed. Dental professionals have a big impact when the collective voice is organized and powerful.
It’s also important to note how fast the industry has been able to adapt to such a hectic time in such a short amount of time. Many doctors have learned new skills like teledentistry and website management. Skills like these help contribute to your business/dental practice growth even when you are at home. The internet is such a powerful tool that will help build up your customer base faster than any other system in today’s society. Additionally, many dental offices have adapted new technologies for infection control, such as the extraoral/intraoral dental suction system, medical-grade HEPA filters, and electrostatic sprayers.
COVID-19 has also taught us the necessities of PPE (Personal Protective Equipment). Many have shrugged it off in the past. It’s been brought to everyone’s attention to the dangers of aerosol particles. Even after the pandemic, PPE is going to be a new norm for the dental industry for safety measures for both the doctor and the staff from contracting any sickness or virus from patients. We’ve also learned the proper methods of infection control. Infection control protocols, like cross-contamination prevention, are practices that will likely carry over to post-COVID-19.
Dental practices need to understand that despite the challenges that have been thrown at the industry, we will be able to stand up again. All crises eventually come to an end, and as long as your values and practice morals deter these obstacles, we will be able to continue. After this pandemic dies down, no individual can undermine the challenges and the obstacles the industry has faced. There are many valuable lessons that we have developed throughout these unprecedented times. Stay strong!
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