Essay on Dental Software Market in USA

Submitted By iitrakash
Words: 2688
Pages: 11
Open Document
Introduction

CompuGroup Medical is one of the leading eHealth companies worldwide. The company caters to more than 400,000 customers (including doctors, dentists, pharmacists and other healthcare providers) in 43 countries with a market share of up to 70%. In the Dental Software market, it is the market leader in Germany (36% market share) and a customer base of more than 11,000 dental practices.

The project Cirrius is set out to build the next generation of cloud based dental software’s.
This report analyses the USA as a potential new international market for CGM. The report offers a snapshot of Dentistry as a profession in the USA, the job outlook, payment trends and also includes excerpts on both the current market leaders in Dental Practice Management Softwares and the niche players

Dental Profession in the United States of America- A glance

Demographic and Practice Profile

Total Number of Professionally Active Dentists: 195,941

Employment of dentists is projected to grow 16 percent from 2012 to 2022, faster than the average for all occupations.

The median annual wage for dentists was $149,310 in 2012 $71.79 per hour

Table 1: Number of Dentists as per location

Location
No. of Dentists
Location
No. of Dentists
Location
No. of Dentists
Alabama
2180
Louisiana
2293
Oklahoma
1943
Alaska
573
Maine
675
Oregon
1718
Arizona
3638
Maryland
4495
Pennsylvania
8235
Arkansas
1217
Massachusetts
5727
Rhode Island
586
California
30512
Michigan
6138
South Carolina
2356
Colorado
3663
Minnesota
3299
South Dakota
441
Connecticut
2849
Mississippi
1289
Tennessee
3362
Delaware
423
Missouri
3013
Texas
13347
District of Columbia
645
Montana
632
Utah
1887
Florida
10431
Nebraska
1223
Vermont
373
Georgia
4769
Nevada
1451
Virginia
5285
Hawaii
1082
New Hampshire
870
Washington
5030
Idaho
915
New Jersey
7270
West Virginia
908
Illinois
8673
New Mexico
1069
Wisconsin
3304
Indiana
3180
New York
15543
Wyoming
293
Iowa
1684
North Carolina
4809

Kansas
1468
North Dakota
399

Kentucky
2582
Ohio
6194

Source: American Dental Association, Dental Data, November 2012, Redi-Data, Inc.

Money Matters

As 92.3% of all professionally active dentists are active private practitioners, income from private practice is an indicator of the economic health of dental practice.In 2009, the U.S. spent about 102.2 billion dollars for dental services.
Source: American Dental Association, Survey Center, 2009 Survey of Dental Practice.

The table below lists financials of independent dentists surveyed by the ADA Survey Centre in 2009:

Median Net Income
Median Total Practice Expenses
Practice Expenses as a percentage of Gross Billings
$186,000

$430,000
60.3%

Also, patient visits are up 7% and gross production per visit 5% since 2010 (Source http://www.dentaleconomics.com/articles/print/volume-104/issue-1/features/the-impact-of-the-financial-crisis-on-the-u-s-dental-industry.html

The economic downturn of 2008 made impact on the number of patient no-shows as visits decreased from 2008 through 2011, but has picked up an increasing trend over the last couple of years. What’s encouraging is the value each patient (expressed in terms of gross production per capita) brings in a visit which is on an ever-rising trend. The coupled impact of rising value per visit along with the high proportions of kept appointments gives us a reason to believe that more patients will be visiting practitionars and will be spending more on each of their visits over the next couple of years.
*This is based on a survey of ~9.5k dental clinics.

The Practice Management System Market
(Source: http://www.marketsandmarkets.com/PressReleases/medical-practice-management-software.asp

The global practice management system market is poised to grow at a high single-digit CAGR from 2013-2018 to reach $247.1 million by 2018.
The factors propelling the growth of the practice management system market include growing need to integrate healthcare systems, firm government support and increase in
Show More

Related Documents: Essay on Dental Software Market in USA

Essay on econ stuff

other: “Free market” economy (capitalism) vs. “Planned” economy (socialism) Types of Economic Systems The other 2 systems lie somewhere in-between the “market” and “planned” systems. They are the: Mixed economy Some industries are owned or controlled by government while the rest is controlled by private individuals or the private sector. Indicative planning economy Government is market-friendly and encourages private enterprise, but will “tweak” market outcomes to…

Words 1623 - Pages 7

Cost of Poor Quality in Banking Essay

Dear Sir, Assalam o alikum Bahria University is federally accredited University based at Islamabad with its campus at Karachi. University is educating is students in the fields the of management science, computer, Engineering, Medical and Dental Surgery. Management science students are guided to carry out subject based research in various business and corporate organizations. This enhances their abilities to think independently and resolve the management problems logically. Some students…

Words 3465 - Pages 14

Managing Information Technology (7th Edition) Essay

CONTENTS: CASE STUDIES CASE STUDY 1 Midsouth Chamber of Commerce (A): The Role of the Operating Manager in Information Systems CASE STUDY I-1 IMT Custom Machine Company, Inc.: Selection of an Information Technology Platform CASE STUDY I-2 VoIP2.biz, Inc.: Deciding on the Next Steps for a VoIP Supplier CASE STUDY I-3 The VoIP Adoption at Butler University CASE STUDY I-4 Supporting Mobile Health Clinics: The Children’s Health Fund of New York City CASE STUDY I-5…

Words 239873 - Pages 960

Case: Chester & Wayne Essay

commodity costs, and a weaker-than-anticipated economic recovery in developed markets hampered the performance of our more mature product lines, including Prepress Solutions, Digital Capture & Devices, and Entertainment Imaging. In each case, we are aggressively addressing the issues specific to each business to ensure a more successful 2011. For example, to address profitability and demand challenges in the digital still camera market, we are pursuing a transformative strategy for our digital camera business…

Words 18757 - Pages 76