How and Why the Dental Profession is Pandemic Proof
Timothy A, Brown, FRI, CEO and Broker of Record www.roicorp.com
Jackie Joachim, Chief Operating Officer, www.roicorp.com
2020 did not work out as any of us planned. So many had great expectations which quickly came to a grinding halt. The world changed and so has the way we do business. Some changes will become permanent.
As difficult as this pandemic has been, we must believe we will come through this, because history tells us that we will. It is relative to the challenging times our parents and grandparents had when they experienced the Depression, two world wars, pandemics and other tragedies. There were always celebrations once these periods came to an end. I am not yet predicting a repeat of the roaring 20’s but in the wake of devastation brought on by WWI and the Spanish Flu we saw a positivity and prosperity that can only be attributed to austerity that preceded it. No one has a crystal ball, no one knows what 2021 will really be like, but we must enter the year with optimism and hope. People will gather again, hug again, travel again. Global economics will rebound because of pent up demand for products and services. We caught a glimpse of this when dental and optometry offices reopened after the forced closures.
The Dental Practice Revenue Landscape (past, present and future):
1. June to August 2020 (3 months), dental practice revenues recovered quickly and many reported record production levels during the summer of 2020 due to backlog.
2. September to November 2020 (3 months), continuing record production levels in many practices nationwide, which was a pleasant surprise to us and our clients. Why? Canadians have a high dental IQ and they trust and respect what dentistry has done to make it safe for them to visit. Well done dental community!
3. December 2020 (1 month), appointment schedules are full as patients typically “use it or lose it” in December.
4. January 2021, kids may not go back to school in January, so why not take them to the dentist! A few hours at the dental office gives a parent some free time to complete other tasks (at least for those whose kids can be left with dental staff).
5. February to April 2021, the forward-looking schedules are filling up quickly. Why? Patients are working at home and have much more free time for personal care, some just need to get out of the house! With serious limitations on many other health care services (and a loss of confidence in areas such as gyms, massage, aesthetics, etc.) dentistry remains at the top of Canadians’ health care regimen and mind-set.
Spring of 2020; across all markets, dental practices kept in touch with patients by educating them with a calm voice and science-based information. Many of our clients improved their technology skills via social media, Zoom and TeleDentistry. Many of us considered ourselves “too old” and yet we embraced all things tech to stay in touch.
2020 has taught us that we cannot always be in control and that we must be willing to adapt. Most importantly, the dental profession at large exhibited a positive attitude. To be very clear, we can all agree that we need more positivity, joy and happiness in 2021. Please be a beacon of hope and contagious positivity so we all get through the pandemic together.
Timothy Brown is Chief Executive Office of ROI Corporation Canada’s national professional practice and brokerage firm.
Jackie Joachim is Chief Operating Officer of ROI Corporation, Canada’s national professional practice and brokerage firm. Please contact her at Jackie.firstname.lastname@example.org or 1-888-764-4145.