Are you worried about how many people look for a dentist like you? There is a lot of positive news to be had. Over 335 million people live in the U.S., and dental insurance continues to be an essential benefit every year. This presents countless growth opportunities for dental providers and their patient base.
According to the ADA, 53 percent of children have private dental benefits, and 38 percent have benefits through Medicaid or the Children’s Health Insurance Program (CHIP). Meanwhile, over 61 percent of adults have private dental benefits, and more than 15 percent have benefits through Medicaid. Financially, the global dental market is expected to grow yearly, reaching $65.23 billion by 2030.
Key Takeaways:
- Healthcare costs and premiums continue to increase.
- The number of children and adults going to the dentist remains steady.
- Cavities and caries are the common reasons for dental visits.
- Elective dentistry is trending.
- Artificial Intelligence can streamline your operations and grow your practice.
There is no time like the present to double down on the services you provide and grow to meet the needs of potential patients. Let's take a deeper dive into the data.
Current healthcare costs
The cost of healthcare in the United States continues to increase. Patients spend an estimated $110 billion on oral healthcare. Premiums are following the same pattern. Rising insurance costs are causing employers to move into self-funded arrangements.
How many people are going to the dentist?
The number of insured people who seek out dental services has remained steady, even in the face of the COVID-19 pandemic in 2020. This goes back to 2017. 50 percent of children and seniors go to the dentist, while 38 percent of adults go in for visits.
Why are people going to the dentist?
Cavities are the main reason for the need for dental care. 57 percent of adolescents aged 12 to 19 have had a cavity, while 90 percent of adults have had at least one cavity.
Dental caries are another common oral health issue among adults. 25 percent of adults aged 20-44 and 45-64 have untreated dental caries. Meanwhile, 20 percent of adults aged 65 years and over have untreated dental caries.
Demand for elective dentistry.
Even as inflation rears it's head, online search trends for Invisalign braces are high. This indicates demand for elective dentistry. Factors like solid housing prices and low unemployment can lead to more people spending on elective dentistry. So, you should promote these services at your practice if you are not already.
AI and technology in dentistry.
AI and machine learning are providing opportunities to accelerate innovation and growth. To stay competitive in the marketplace, you should look for ways to use AI in your practice. It can help you increase productivity and scale regarding office administration and X-rays.
In conclusion, the dental industry is increasing, presenting new opportunities for dental providers to expand their business. With the continued demand for dental services, it becomes crucial for providers to stay up-to-date with the latest trends and technology. By leveraging these insights, you can streamline your operations, improve the patient experience, and grow your practice.
Want to join the Solstice network?
Contact our dedicated provider relations team for more information about joining our network. You can call 1.877.760.2247 or email providerrelations@solsticebenefits.com.
Already in the Solstice network?
Search to see if you're part of the Solstice dental PPO or HMO network. You can also go to https://www.mysolstice.net/ or call us at 1.877.760.2247.
