Dental Payment Statistics
In our new infographic series, we’ll be sharing some interesting stats on payments and technology from popular industries. In the dental industry for example, in a recent survey, 80% of dentists listed managing their practice finances, acquiring more patients, and keeping up with technology as their top concerns.
Most dentists – 88 percent – are most concerned about patients’ ability to pay. The second biggest concern among dentists was practice revenue, according to 86 percent of respondents.
To prepare for the future, 48 percent of dentists transitioned to electronic medical records, 31 percent are expanding their marketing efforts, 30 percent purchased new equipment and 29 percent are updating technology.
A recent report identified the actual cost of mailing a billing statement in the dental office at $7.26 per statement.
SMS text messages have a 98% open rate, and it takes the average person only 90 seconds to respond to a text message, showing why text to pay is a quick and efficient way for the dental industry to accept payments.
As you can see from these statistics, it takes a lot to run a dental practice.
See why 74,000 dentists nationwide trust their dental practice revenue cycle management and billing to Vyne Dental. Learn more at vynedental.com.
