Industry Analysis & Industry Trends
The Dental Services industry is underpinned by out-of-pocket payments from individuals, which have contributed to relatively steady revenue growth over the five years through 2014-15. While industry operators do not receive substantial government assistance, they profit from private health benefits being paid out. Many consumers have been able to reduce their out-of-pocket payments by taking up private health insurance extras cover over the past five years, which generally includes dental services. Australia's growing and ageing population has also contributed to industry revenue growth of a compound annual 1.5% over the past five years... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry are considered to be at a moderate level in the industry. The cost to establish a new practice can be upwards of about $400,000.0, representing a barrier for new players. There are costs of equipping, and establishing protocols and systems for a new practice. In difficult economic circumstances, finance to establish a new practice can be difficult to attain and present a further barrier to entry.
The level of training required to be a dentist is significant, especially for specialist practitioners. These practitioners must attain qualifications additional to the basic tertiary dental qualification, as well as prescribed clinical experience. Typically, a Masters degree in the appropriate specialisation is required plus two years of practice under supervision... purchase to read more