Dental Practices Spending on Dental Supplies
To determine the average amount dental practices spend on dental supplies annually to inform a potential business idea.
- The Total US Dentists Market Size equaled $137.7 billion in 2019.
- Dental supplies are a variable dollar cost based on factors including practice size, patient volume, and revenue brought into the business.
- Ideally, spending on dental supplies should equal 5% of a dental practice's budget.
- According to a dental benchmarks report provided by Aldrich Advisors, the average single dental practice brought in $998,088 in income/collections in 2017.
- The amount spent on dental supplies averaged $71,498 or 7.2% in 2017.
- More specific, detailed information on the average amount that dental practices spend on dental supplies is most likely available through paid reports such as the following:
- "2019 U.S. Industry Statistics & Market Research - Dentists & Dental Offices," published by AnythingReseach and
- "Health Policy Institute 2019 Annual Dental Industry Report," published by the American Dental Association.
ABOUT OUR EARLY FINDINGS:
- During our first hour of initial research, we were able to find some relevant information on how much dental practices should spend on dental supplies. We were also able to find out how much the average single practice dental office spent on supplies in 2017, both as a dollar amount and a percentage. This amount was larger than recommended. Additionally, we found that more specific and detailed information may be available through paid reports. Two of these reports are included in our early findings.
Proposed next steps:
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We recommend looking into 3-5 ways dental practices in the US are working to reduce the amount spent on dental supplies. These include using discount dental suppliers, buying online (e commerce) rather than in stores, and joining group practice organizations. For each way, we will 1) give the name of title of the way, and 2) define/explain what it is, how dental practices use it, and how it helps lower the amount practices spend on dental supplies.
Additionally, we recommend looking into 2-3 trends in the US dental industry in general to see how they impact day-to-day operations, including spending.