Becker's has reported on more than a dozen practice closures so far in 2024, several of which have been the result of financial constraints facing owners.
Here is how financial challenges have led to the closures of four dental practices so far this year:
1. Pacific Northwest Implant Studio and General Dentistry in Eugene, Ore., shut down unexpectedly in January. The landlord of the building posted a notice citing failure to pay as the reason for the abrupt closing.
2. Marko Kamel, DDS, said he was forced to close his practice, Woodbury (Minn.) Dental Arts, in March because his license was suspended and he did not have the money to continue running the practice.
"I ran out of money to run the practice without being able to practice myself anymore," Dr. Kamel said in March, adding that he was in the process of selling the practice, with employees and patients first on the list to be reimbursed.
3. Rochester, N.Y.-based Mosaic Health announced it would close two of its dental clinics in June after experiencing changes in funding and workforce shortages.
The center saw a $4 million decrease in grant revenue, about 30% of its annual operating budget, which created a need for reduced expenses.
"Mosaic Health has attempted to recruit more dentists, but it’s especially challenging to compete with higher salaries and the types of dentistry that dental professionals are seeking today," Mosaic Health Chief Dental Officer Melissa Copella, DDS, said.
4. Memphis, Tenn.-based Contagious Smiles, owned by Larry Anthony, DDS, closed this month due to "unforeseen financial difficulties," according to a statement sent to WREG Memphis. The statement said Dr. Anthony would be filing for bankruptcy to address the financial challenges and that the practice plans to address refunds and outstanding balances.