An ADA survey has found that more U.S. dentists saw declining net incomes and gross billings in the fourth quarter of 2008 compared to the third quarter, according to the ADA News.
"The declines dentists are reporting can be expected," Michael Schuster, D.D.S., author of The Science of Creating Wealth: Recession-Proof Your Practice, told ADA News. "Three things happen in every recession: sales decline, receivables increase, and credit tightens."
Dr. Schuster recommends that dentists "approach this period with a positive mindset," talking openly with patients about the current economic situation and doing more basic and preventive dentistry now to help patients avoid more costly treatments later on, according to the article.
The survey of 1,699 U.S. dentists was conducted February 20-27.
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