As we close the chapter on 2024, Ryan Moynihan from Gaidge takes a deep dive into the year’s trends, shedding light on how the orthodontic industry performed. While growth rates fluctuated throughout the months, the year ultimately ended on a high note with positive production growth—an encouraging shift after previous years of decline. Net collections showed strong momentum, though areas like patient starts still need attention moving forward.
Despite their popularity, aligners didn’t quite live up to expectations in 2024, with their share of the market dipping. However, a bright spot emerged—adult patient starts saw notable growth, signaling a potential shift in consumer confidence. As more adults prioritize their smiles, practices have an opportunity to tailor their marketing and patient engagement strategies to this evolving demand.
One key takeaway for the year ahead? Data is everything. Ryan emphasized the importance of understanding the “leaky bucket” patient funnel—tracking every step from the first inquiry to the final treatment start. Practices that focus on improving these conversion metrics will see the biggest wins in efficiency and revenue.
Digital tools also continue to play a critical role. Leveraging technology to streamline patient communication, reduce unnecessary visits, and optimize the patient experience will be game-changers in 2025.
With economic forecasts pointing toward industry growth, Ryan and Jill discussed how practices can position themselves for success. The key? A critical assessment of internal processes and patient engagement strategies. By refining patient funnels, strengthening systems, and embracing innovative revenue streams—like retainer programs—practices can boost profitability with minimal additional workload.
In an industry where efficiency is everything, outsourcing certain services can be a game-changer. Ryan highlighted "Retainers for Life" as an example of how practices can add an effortless revenue stream while improving patient retention. Gaidge’s data supports the impact of these models, showing measurable production gains without adding to a doctor’s already full plate.
As Ryan and Jill wrapped up their conversation, one message stood out: Orthodontic success in 2025 will belong to practices that embrace data, innovation, and collaboration. By tapping into expert tools and services, streamlining operations, and staying ahead of industry shifts, orthodontists can set themselves up for a year of growth and profitability.
Want to see how data-driven decision-making can transform your practice? Visit Gaidge.com to book a demo and explore the solutions that can help you stay ahead. Here’s to a year of smart strategies and thriving practices!