Acme Dental

CLIENT – Acme Dental
SERVICES – Industry Comparison Analysis

Some of our clients in the dental industry were asking for detailed information about how they compared to their peers in this region. Industry standards were available for larger areas, but there was a feeling that the dental atmosphere in Northern Utah did not match that of the Western United States. As we provide services for a large number of dentists, we decided to perform our own analysis of dental practices in Northern Utah and give our clients some useful information that would help them be more successful.

Solution
We put together a survey asking for all of the demographic and financial data for each practice using standardized income and expense accounts that would be common in most practices. Some of our dental clients then assisted us in forming questions about the operations of the practice including items such as fees charged for specific procedures, which insurance plans are accepted, the number of days per week the office is open and the type of retirement plan in place.

Results
The participants in the study found the comparison reports to be very enlightening and useful. Some found they were spending too much in advertising, supplies or rent. Others found they were underpaying their staff or under billing their patients for certain procedures while some found they were overcharging or over compensating their staff. Many younger dentists are using the data to help them set budgets for their spending while many of the dentists that have been in practice for many years are using the results to help them fine-tune their practices to be as profitable as possible. Overall the study was very well received. We plan to perform similar studies in the future to continue to provide updated information for those who find it useful.