A number of forecasters see a growing risk of recession for the United States as inflation sky rockets, what does this mean for orthodontic practices? A recession is defined “as a significant decline in economic activity spread across the economy, lasting more than a few months” and they generally occur when there is a widespread drop in consumer spending.
What we will incur in the near future is very different from what orthodontic practices saw last year, we will see patients shift from “I want orthodontic treatment” to “do I really need orthodontic treatment?”.
Our team will dive into industry data and what we learned from the “great recession” and economic meltdown in 2008.
Topics to be discussed;
The effect the “Great Recession” had on orthodontic practices
Healthcare research data regarding consumer behaviors during a recession
Will private equity money continue to invest in our industry?
Will a recession drive more affiliations and continue to consolidate the specialty?
Practice overhead, cash flows and industry standards
Will a recession help or hurt staffing shortages, specifically hiring an orthodontic associate?
Tightening credit conditions and what it means if you plan to sell your practice
Recessions come and go, but some are more severe and last longer than others. This webinar we will discuss how an economic downturn will impact orthodontic practices and how owners can prepare their practices for what’s ahead.