There is a really interesting article that came out in October 2011 issue of DentalTown magazine. Let me share some of these statistics with you… they affect all of us within the dental profession.
Total number of General Dentists (as of 2010): 150,043
Total number of Dental Specialists (as of 2010): 37,241
Total number of Dental Schools in the U.S.( as of 2010): 61
Total number of Dental School Applicants per year (as of 2008): 12,178
Total number of Dental School Graduates per year (as of 2008): 4,796
I have a close friend who is on the admissions committee of one of the dental schools here in Arizona. According to him, we should expect to see new dental schools opening in the states of California, Missouri, and Florida within the next couple of years. So expect the total number of schools to go up to 64.
Let’s analyze these statistics for a moment. Each year almost 5,000 new dentists hit the streets looking for work. The retirement age for dentists has steadily been creeping up because so many have lost huge chunks of their retirement savings and equity in their homes over the past few years. Dentists attempting to sell their practices in order to use the proceeds to retire have found that lending restrictions have made it very difficult for buyers to get financed.
More dental schools, more applicants, more graduates, less retirees, it all adds up to each of us getting a little smaller slice of the pie.
It’s time to start thinking of ways to differentiate yourself from the other dentists within your area. It’s time to change your paradigm of income generation. It’s time to hedge against the impending flood of new dentists into your community.
Opening your own in office dental assisting school will give you the extra income that will allow you to step away from the chair more often while allowing you to dramatically increase cash flow and aggressively save for retirement. You owe it to yourself to give this a second look.
Mark Costes, DDS
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