Content Dam Diq En Articles Apex360 2017 03 Data Bite According To Dentist Retirement Data More Dentists Plan On Working Longer Leftcolumn Article Thumbnailimage File

Data Bites: More dentists plan on working longer

March 14, 2017
Although more dentists are delaying retirement, you don't have to be part of the trend. In this month's "Data Bite," Dr. Levin looks at the latest dentist retirement data and offers analysis.
Roger P. Levin, DDS, CEO and Founder, Levin Group
Although more dentists are delaying retirement, you don't have to be part of the trend. In this month's "Data Bite," Dr. Levin looks at the latest dentist retirement data and offers analysis.

More dentists believe it will take longer to reach retirement, according to the 2016 Dental Economics–Levin Group Annual Practice Survey. Nearly half (46%) of survey participants said changes in the economy are forcing them to continue practicing past their expected retirement date. That response represents a 4% increase over the previous year’s survey.

Even though the Great Recession officially ended in 2009, many dentists are still grappling with the lingering effects of a sluggish economy. In addition, dentist retirement data can be linked to seismic changes occurring within dentistry, including:

All these factors have put downward pressure on practice production and doctor income for many owners of solo practices. Yet, in spite of the current challenges, there are many practices doing extremely well. In fact, the majority of dentists still say the economy hasn’t affected their retirement plans.

If you’re concerned about your ability to retire when you want to, my advice to you is simply this:

  • Learn everything you can about the business of dentistry
  • Implement high-performance systems and train your team on those systems
  • Market your services year-round
  • Get business help from experts if you need it

Do those four things, and practice success will take care of itself.

Author's note: Need CE for 2017?Attend one of Dr. Levin’s upcoming “Building the Ultimate Practice” seminars in Tampa, Chicago, Austin, or Columbia (Maryland). Visit levingroup.com/gpseminars for more information.

Roger P. Levin, DDS, is the founder and CEO of Levin Group, a leading dental consulting firm. A nationally recognized speaker, Dr. Levin presents practice management seminars throughout the country.

CATCH UP ON PAST DATA BITES

"Data Bites" is a monthly column in the Apex360 e-newsletter. The column presents findings from the Levin Data Center and analysis by Roger P. Levin, DDS.

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Editor's note: This article first appeared in the Apex360 e-newsletter. Apex360 is a DentistryIQ partner publication for dental practitioners and members of the dental industry. Its goal is to provide timely dental information and present it in meaningful context, empowering those in the dental space to make better business decisions. Subscribe to the Apex360 e-newsletter here.

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About the Author

Roger P. Levin, DDS | CEO and Founder, Levin Group

Roger P. Levin, DDS, is the CEO of Levin Group, a leading dental management consulting firm. Founded in 1985, Levin Group has worked with over 30,000 dental practices. Dr. Levin is a sought-after speakers in dentistry and is a leading authority on dental practice success and sustainable growth. Through extensive research and cutting-edge innovation, Dr. Levin is a recognized expert on propelling practices into the top 10%. He has authored 65 books and over 4,000 articles on dental practice management and marketing.

Dr. Levin sits on the editorial board of five dental publications and has been named as one of the Leaders in Dentistry by Dentistry Today magazine for the last 15 years. He was recently named one of the 32 Most Influential People in Dentistry by Incisal Edge magazine and voted Best Dental Consultant by the readers of Drbicuspid.com. He has been featured in the Wall Street Journal, New York Times, and Time magazine, and is the creator of the Levin Group Tip of the Day,which has over 30,000 subscribers.

To contact Dr. Levin, visit levingroup.com or email [email protected].

Updated March 7, 2019