Around 70% of the dental profession still expect profits to grow this year, with goodwill values remaining high.
This is according to the Lloyds Bank Healthcare Confidence Index.
The report shows that short-term confidence amongst dentists, GPs and pharmacists has declined during 2022.
Despite falling by three points, the smallest drop on any of the professions, dentists’ short-term confidence is the highest at 35.
More optimistic
Martyn Kendrick, head of healthcare banking services, Lloyds Bank, put this down to the profession’s historical resilience.
‘Dentists seem to be growing more optimistic about potential NHS contract reforms too,’ he writes in the report.
‘This is a profession that has always been resilient and entrepreneurial, and I am sure that dentists will continue to create growth opportunities through any reform, while also working to achieve the best outcomes for their patients.’
He added: ‘Pressure on margins will be unavoidable in the year ahead, but dentists are agile and adaptable and I’m confident they can come through this testing time in good shape.’
Dentistry’s top stories
- Dental therapist struggling ‘to keep food on the table’ due to GDC delays
- Dental professionals did not face increased risk of Covid-19 in practice, study says
- Britain’s dumbest dentist caught on CCTV?
- Overseas registration in dentistry to be made easier
- Dentist offered colleagues a pay rise in exchange for oral sex, tribunal hears.
Further findings
Other findings from the Index include:
- More than half of dentists expect goodwill values to increase over the next 12 months
- More than one third of dentists plan to retire in the next 10 years
- Half of dentists struggle to find the right quality of applicants for new dental associates
- Almost half (49%) said they are aware of net zero, but don’t yet know what it means for their business
- Less than a third (28%) are taking action to make their practices more energy efficient.
You can read the full report here.
We want to hear from you! Email your thought to [email protected].
Follow Dentistry.co.uk on Instagram to keep up with all the latest dental news and trends.
