While economic recovery is progressing in the right direction, its slower pace is a concern for everyone in the dental industry. But there does appear to be hope on the horizon.
The ADA started conducting biweekly surveys in March of 2020 to get a better idea of the impact of COVID-19 on dental practices. As of October 19, 2020, 99% of U.S. dental practices were open.1 And while there appeared to be a slight decline in patient volume, practice values seem to be, for the most part, holding steady.
Additionally, a recent article on Dentistry iQ indicates that the COVID-19 crisis has many dentists considering the possibility of selling their dental practices. The article also mentions that today’s market doesn’t have a shortage of potential buyers.
Many of our ADS Dental Transitions brokers have reported that a good percentage of practice revenues are bouncing back and practice inventory appears to be gradually increasing. If this recovery trend continues, it’s good news for practice values.
Reference:
1 Health Policy Institute, “The Impact of COVID-19 on the Dental Care Sector”
https://www.ada.org/~/media/ADA/Science%20and%20Research/HPI/Files/HPI_COVID_Webinar_Oct_2020_2.pdf?la=en
