When a medical need arises, most parents are quick to take their child to a pediatrician. The idea that the same principle should apply to dentistry–that the needs of children’s teeth are unique and require a specialized approach–is newer, but taking hold. Which means pediatric dentistry is on the rise. If you own a pediatric dentistry practice, now is a great time to consider selling. The market is primed to get you a good price for your practice. If you delay putting your pediatric dental practice for sale, its value may reduce as newer practices start up and become more common throughout the country.
Pediatric Dentistry: Promotion From Professional Organizations and Dental Hygiene Brands
The U.S. Bureau of Labor Statistics has dentistry on pace for a 19% increase for the period of 2016-26, higher than the average of other U.S. industries. Pediatric dentistry is projected to rise at the same pace. This is significant because pediatric dentistry specialization is a relatively new trend. In today’s world, more parents are choosing a pediatric dental specialist for their children over a general practitioner than ever before. The American Dental Association is supportive of parents making that choice, as there are unique aspects of tooth care for baby teeth and juveniles with new permanent teeth, and because they want children to develop lifelong healthy habits early on.
But it’s not just the ADA. A variety of dental and medical organizations are pushing for parents to take their children to pediatric dental specialists rather than general practitioners for those same reasons. And they are encouraging parents to get set up with a pediatric dentist as soon as their children get their baby teeth. “The American Academy of Pediatric Dentistry, the American Academy of Pediatrics, and the American Dental Association all recommend that parents establish a Dental Home – a home base for all of their children’s dental needs – by their first birthday” because “[while all parents know baby teeth eventually fall out, it’s important to keep them healthy. After all, they’re the blueprint for your child’s permanent teeth!”
In addition to the dental and medical associations, consumer dental brands are promoting pediatric dentistry. While it might not immediately seem significant how a toothpaste company sells its products, consider that most people first become aware that there is an ADA because of toothpaste advertisements. So when a company like Colgate promotes the reasons to choose a pediatric dentist, this will likely have more sway over parents than an ADA press release (it’s a hard reality that these corporations are more influential over public ideas about dental care than professional dental organizations).
And, the fact is, Colgate is right. Parents like pediatric dentistry because of how it’s specifically designed to meet children’s needs, both with regard to treatment and to the office setting and equipment. Children’s dental needs are not the same as adults, and parents are comforted by knowing their child’s dentist understands their concerns unique to children’s teeth. A pediatric dentist is trained to look for complexities related to a child’s growth and development, and will stress the importance of oral health and diet that will have positive benefits throughout their child’s life. As this way of thinking takes greater hold, it will drive an increase in demand for pediatric dentists.
Additionally, parents are more confident taking their child to a dentist in an office designed to appeal to the child’s sensibilities. This includes decor and furniture specifically selected to make children feel comfortable. More importantly, it means a dentist and staff that understands a child’s apprehension or even fear of going to the dentist trained to manage potentially negative responses. Understanding how children think and behave in these situations also allows dentists to effectively educate children in ways they understand.
Get Ahead of the Curve and Put Your Pediatric Dental Practice for Sale
With the professional organizations and consumer product companies in alignment about the importance of taking kids to a pediatric dentist, the trend toward this specialization will continue. Even without looking at the numbers, consider your own experience. When you drove through your town 10 or 15 years ago, how many pediatric dental practices or billboards did you see? How many do you see now?
Pediatric dentistry is on the rise in the public mind, making it on the rise in the dental industry as well. More young dentists entering the field will choose this specialty, meaning more young dentists are looking to buy or buy into practices. If you’ve been thinking about retirement, this makes now a great time to put your pediatric dental practice for sale. Even if you were thinking that retirement might be years away, the premium that your practice could net you now might make the difference that could justify your early retirement. You’ve worked hard to build the practice, why not enjoy the proceeds of that work sooner rather than later, when you can get the most from it?
At ddsmatch Southwest we have buyers looking for a pediatric dental practice for sale. If you are ready to discuss selling your practice, we can talk you through the process. It’s complex, but with our experience, we can help you with every aspect of the transition including legal matters, real estate issues, and employee concerns, in addition to considering your legacy. One of our specialities at ddsmatch Southwest is matching the right buyer and practice, so you’ll rest easy knowing your practice is in good hands before you begin enjoying your retirement.
If you want to transition your practice in the next five years, we offer a free Transition Assessment to help prepare you. We have buyers ready. Call today and find out what ddsmatch Southwest can do for you.