On average, 2024 was relatively uneventful for the dental profession. While overall there was little change, that masks a growing divide among practices, as discussed below.
Inflation declined to a 2.4% annual rate, and the labor market and economy also cooled back down to pre-COVID-19 levels. No immediate warning signs of a recession were present, but consumers were still dealing with higher prices being the new normal. Without the benefit of a roaring economy, demand for dentistry also cooled, with many practices seeing a decline in new patients and overall busyness.
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