Each year the the NSCHBC compiles a statistics report on medical and dental income and expense averages from a wide range of medical fields, and this report is now live and available for members and non-members to use in their own practices and healthcare businesses.
The 2020 NSCHBC Practice Statistics Report is now available to the public for purchase on the National Society of Certified Healthcare Business Consultant’s website.
Each year the National Society of Certified Healthcare Business Consultants surveys its members' clients and compiles a Statistics Report on medical and dental income and expense averages.
The report is a joint effort of the National Society of Certified Healthcare Business Consultants and the Academy of Dental CPAs. The survey includes information on overhead percentages, average monthly charges in accounts receivable, full time equivalent staff ratios, and more.
This resource is an incredible asset for professionals working in the business of healthcare industry as it provides useful information regarding the yearly changes in income and expenses that healthcare practices have experienced during 2020.
The information from this year is even more important to consider when predicting the long-term effects of the pandemic on healthcare providers in the medical and dental fields.
Over sixty specialties are included in the report, covering medical, dental, and more. Some specialties featured are dermatology, pediatrics, oral surgery, endodontics, pain management, physical therapy, and many more.
“The cost and expense of running a business is a major concern for physicians in independent private practices today,” said David Zetter, NSCHBC President. “Many physicians and their managers don't know the costs of keeping their doors open to patients, much less knowing what those costs should be. Finance and business management is not something typically taught in medical schools,” he added.
The report features data from over 1,499 professional practices representing over 3,284 FTE doctors.
Highlights of the report include:
Dermatology - The personnel overhead percentage per practice increased by 2% or $118,000, however net income still increased by $24,000 from the prior year.
Family Practice without Obstetrics - For total office overhead the percentage has decreased by 5.5% compared to last year, however, it has increased 7% compared to three years ago.
Obstetrics and Gynecology - FTE non-doctor provider per practice has doubled compared to last year and FTE staff have increased by 1.5. While the FTE levels have increased it hasn’t impacted the net income as that has increased by $32,000.
General Dentistry with Hygienist - Net income has increased by 4% consistently for the last three years. Personnel FTE for hygienist and FTE for other staff has remained constant for the last three years.
Periodontics - The average FTE doctor per practice has increased by .3 FTE compared to three years ago. For the same period, net income per doctor has increased by $80,000.
The 2020 NSCHBC Practice Statistics Report is available for purchase by members of the NSCHBC, but also by non-members as well.
To order a 2020 NSCHBC Practice Statistics Report, please clink on the link above or call us today at 703-234-4099.
The NSCHBC is a national organization dedicated to serving the needs of consultants who provide ethical, confidential and professional business advice to the healthcare industry. The mission of the Society is to advance the profession of healthcare business consultants by setting standards for its members through education, certification and professional interaction.
To join the National Society of Certified Healthcare Business Consultants or to learn more information about membership, the certification program, or membership benefits, please visit our website.
