The top 10% of dental practices saw an 83% case acceptance rate and a 123% collection rate in 2023, according to Henry Schein One's 2024 Industry Report.
The dental software company collected data and calculated performance benchmarks for more than 2,500 dental practices in the U.S. The report, released May 28, aims to help dental offices measure performance and make informed decisions about their businesses.
The dental software company noted in its report that it saw a "dramatic rise" in co-pay collections among dental practices, from 75% in 2022 to 84% in 2023.
The company also gave several tips to improve payment collections at dental offices, including sending bills daily, searching for balances on patient accounts prior to appointments and verifying benefits with patients before their treatment. It also recommended offering electronic statements and online payment options.
Here is how case acceptance rates, collections and payment times compare between the average dental practice and the top 10% of dental practices, according to the report:
Average case acceptance rate
Average: 46%
Top 10%: 83%
Average collection rate
Average: 84%
Top 10%: 123%
Average time to payment
Average: 20 days
Top 10%: 7 days