The income of top dentists have gone up a fifth since 2010, as more people spend on cosmetic dental treatment, according to new research published in independent finance provider, LDF. The top 100 dentists in the UK were able to record a turnover of almost £1 billion in 2014, which was a rise of over a fifth (22%) since 2010. A key reason for this surge, according to the report, is the growth in cosmetic dentistry in recent years, where more and more customers paying for procedures such as laser whitening, straightening, tooth-coloured fillings and veneers.
LDF managing director, Peter Alderson, commented: “British people have taken to cosmetic dentistry in a big way, and that’s reflected in rising incomes for top dentists. Increasing numbers of dental patients are starting to explore cosmetic treatments like laser whitening, and are willing to pay significant amounts of money for cutting-edge services, especially if they are delivered in a more exclusive, private clinic-style environment.”
The report also points out that there has been a growing trend in large private equity-backed dental groups, who now operate more than 400 practices. Many of these practices have benefitted from significant investment in their equipment and environment since their takeover. It recommends that independent dentists must invest in their practices to keep pace with the market as consumers become more accustomed to paying for cosmetic treatment and routine hygienist appointments, and larger competitors can offer huge investment on the latest machinery and facilities.
Peter Alderson added: “The biggest dental groups are able to invest very heavily in their practices’ equipment, furnishings and IT systems, and that has raised the stakes in the profession markedly. If dentists want to make the most of the demand for cosmetic dentistry, they need the apparatus and environment that brings in clients, but that type of equipment routinely costs tens of thousands of pounds”.