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Economic Survey Results

Economic Survey Results December 2009
How is your practice performing during the recession in 2008/2009?  
Answer Options December '10 Sept. 09 June '09 March '09 Dec. '08 Aug '08 April '08
No change 14.90% 21.40% 23.40% 24.80% 27.30% 16.70% 16.90%
Decreased by 1-10% 21.90% 22.90% 23.40% 29.00% 29.90% 29.80% 26.20%
Decreased by 11-20% 25.40% 16.10% 18.80% 14.20% 15.20% 14.30% 20.00%
Decreased by more than 20% 13.20% 10.90% 10.10% 9.70% 8.60% 3.60% 9.20%
Improved by 1-10% 22.80% 18.50% 15.30% 18.40% 11.90% 25.00% 20.80%
Improved by 11-20% 0.90% 7.90% 6.40% 2.40% 5.40% 9.50% 3.10%
Improved by more than 20% 0.90% 2.30% 2.60% 1.50% 1.70% 1.20% 3.80%
December 2010 Results Chart
Is your competition increasing?
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
Yes 51.80% 45.10% 45.80% 37.30% 42.70% 55.40% N/A
No 48.20% 54.90% 54.20% 62.70% 57.30% 44.60% N/A
Have your inquiry calls decreased?
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
Yes 41.20% 38.60% 40.90% 35.30% 39.10% 39.80% N/A
No 58.80% 61.40% 59.10% 64.70% 60.90% 60.20% N/A
If yes, by how much?
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
1-10% 27.50% 47.90% 45.00% 55.50% 53.90% 61.10% N/A
11-20% 51.00% 34.30% 34.40% 25.00% 29.30% 27.80% N/A
21-30% 15.70% 15.70% 13.90% 9.40% 12.30% 8.30% N/A
31-40% 3.90% 0.70% 1.30% 5.50% 2.40% 2.80% N/A
More than 40% 2.00% 1.40% 5.30% 4.70% 2.10% 0.00% N/A
If you have seen a decrease in practice revenue, has it been more or less than during previous recessions?
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
Larger decrease 43.00% 37.20% 34.90% 34.60% 28.90% 25.90% 39.60%
Same 46.20% 48.90% 50.40% 50.80% 57.20% 55.20% 44.80%
Less of a decrease 10.80% 13.90% 14.70% 14.70% 13.90% 19.00% 15.60%
December 2010 Results Chart
How many of your colleagues and competitors have closed their practices in the past year?
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
0 66.70% 58.90% 61.20% 60.20% 60.80% 60.50% N/A
1 18.40% 20.20% 19.70% 18.70% 21.40% 19.80% N/A
2 8.80% 14.00% 10.40% 13.50% 11.90% 12.30% N/A
3 4.40% 3.00% 4.60% 4.30% 3.50% 2.50% N/A
4 0.00% 1.50% 1.70% 0.90% 0.90% 0.00% N/A
5 or more 1.80% 2.40% 2.30% 2.40% 1.50% 4.90% N/A
If you have seen an improvement in practice revenue, to what do you attribute this?
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
Increased marketing 29.50% 25.40% 20.80% 21.70% 26.20% 30.80% 33.90%
Type of practice 27.90% 31.20% 35.40% 32.10% 33.60% 26.90% 17.70%
Patients not affected by downturn 6.60% 18.00% 13.50% 15.20% 14.00% 11.50% 9.70%
Community not affected by downturn 6.60% 6.90% 7.30% 8.70% 10.00% 5.80% 8.10%
Other: 29.50% 18.50% 23.00% 22.30% 16.20% 25.00% 30.60%
What are you doing during the recession to protect your practice?
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
No change 23.40% 36.20% 32.10% 32.00% 35.30% 29.80% 24.80%
Increased marketing 59.50% 49.40% 56.40% 52.40% 49.70% 56.00% 50.40%
Decreased marketing 2.70% 1.50% 0.30% 1.80% 2.90% 3.60% 3.10%
Other (lowering prices, doing special offers) 14.40% 12.90% 11.30% 13.70% 12.10% 10.70% 21.70%
December 2010 Results Chart
How has your community been affected by the recession?
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
No change 0.90% 3.30% 2.90% 2.40% 4.50% 6.00% 7.00%
Slightly affected 32.40% 36.30% 41.40% 40.90% 43.90% 42.20% 49.60%
Moderately affected 52.30% 47.60% 44.00% 41.20% 42.00% 41.00% 35.70%
Heavily affected 14.40% 12.80% 11.70% 15.50% 9.60% 10.80% 7.80%
Have you changed expansion plans due to the recession?
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
Yes, decided not to add an associate 13.30% 16.90% 19.00% 14.80% 16.20% 13.00% 5.80%
Yes, decided not to open another location 8.90% 9.80% 10.60% 11.70% 13.50% 4.30% 8.70%
Yes, decided not to add a new service (medspa, lasik, etc.) 8.90% 9.80% 11.30% 9.50% 8.80% 7.20% 8.70%
Yes, delayed other expansion plans (please describe): 8.90% 11.10% 12.50% 11.00% 10.50% 7.20% 6.70%
No, planning to add an associate 15.60% 16.90% 16.70% 15.20% 15.50% 30.40% 23.30%
No, planning to open another location 8.90% 10.50% 10.30% 12.40% 12.30% 10.10% 11.60%
No, planning to add a new service (medspa, lasik, etc.) 13.30% 10.50% 8.00% 8.10% 7.90% 10.10% 15.50%
No, developing other expansion plans (please describe): 22.20% 14.50% 11.60% 17.30% 15.40% 17.40% 19.40%
Have you had to lay off staff or close a location in the past year, or do you expect to have to do this?
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
Yes 18.80% 20.90% 21.30% 18.20% 19.50% 18.50% N/A
No 81.30% 79.10% 78.70% 81.80% 80.50% 81.50% N/A
How has your patient mix/types of cases changed as a result of the economy?
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
Not at all  N/A N/A N/A N/A N/A N/A 59.00%
Seeing more Medicare patients, fewer discretionary spenders 44.30% 53.90% 50.30% 54.60% 53.80% 40.30% 19.70%
Seeing more discretionary spenders, fewer Medicare patients 22.70% 19.90% 18.10% 16.20% 18.10% 29.00% 8.20%
Other:  33.00% 26.30% 31.60% 29.20% 28.20% 30.60% 13.10%
December 2010 Results Chart
What is your outlook for your practice's future?
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
Positive 58.40% 62.00% 59.20% 63.40% 55.10% N/A N/A
Neutral 33.60% 30.30% 35.00% 30.20% 37.60% N/A N/A
Negative 8.00% 7.70% 5.80% 6.30% 7.30% N/A N/A
What is your outlook for your practice in 2010?
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
Much better than 2009 17.50% N/A N/A N/A N/A N/A N/A
Slightly better than 2009 48.20% N/A N/A N/A N/A N/A N/A
The same as 2009 21.90% N/A N/A N/A N/A N/A N/A
Slightly worse than 2009 11.40% N/A N/A N/A N/A N/A N/A
Much worse than 2009 0.90% N/A N/A N/A N/A N/A N/A
What type of practice do you have?
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
Allergist 3.50% 0.60% 1.40% 0.30% 0.30% 0.00% 0.90%
Anesthesiologist 0.00% 0.30% 0.00% 0.00% 0.00% 0.00% 5.00%
Audiologist 4.40% 6.00% 6.40% 6.70% 6.80% 0.00% 6.50%
Bariatrician 0.90% 0.30% 0.30% 0.30% 0.00% 4.20% 5.00%
Cardiologist 0.00% 0.60% 0.90% 0.00% 0.60% 1.40% 0.90%
General Dentist 17.70% 6.30% 6.10% 3.90% 3.40% 15.50% 15.70%
Dermatologist 0.00% 0.90% 1.40% 0.60% 0.80% 2.80% 0.90%
Endodontist 0.90% 0.00% 0.30% 0.30% 0.50% 2.80% 2.80%
ENT 0.90% 1.50% 0.90% 1.80% 1.50% 0.00% 1.90%
Family Practitioner 3.50% 3.30% 2.30% 3.00% 2.30% 11.30% 2.80%
Gastroenterologist 0.90% 0.00% 0.60% 0.00% 0.40% 2.80% 0.00%
General Practitioner 0.00% 3.60% 2.00% 2.10% 1.80% 8.50% 4.60%
General Surgeon 1.80% 0.60% 1.70% 0.30% 0.60% 4.20% 3.70%
Hearing Specialist 0.90% 0.90% 2.30% 1.80% 4.30% 1.40% 0.00%
Neurologist 0.00% 1.20% 0.00% 0.90% 1.60% 1.40% 2.80%
OB/GYN 4.40% 1.50% 1.70% 2.70% 1.50% 4.20% 1.90%
Ophthalmologist 2.70% 0.30% 0.00% 0.90% 0.60% 5.60% 4.60%
Orthodontist 7.10% 7.70% 5.20% 4.20% 2.40% 5.60% 7.40%
Orthopedic Surgeon 0.90% 1.20% 1.70% 0.90% 1.00% 5.60% 3.70%
Pain Management Specialist 0.90% 0.30% 0.90% 0.90% 0.80% 4.20% 4.60%
Periodontist 0.90% 0.30% 0.00% 0.30% 0.30% 1.40% 1.90%
Physiatrist 0.00% 0.30% 0.30% 0.00% 0.30% 0.00% 0.90%
Physical Therapist 8.80% 8.60% 9.60% 12.40% 9.50% 7.00% 13.90%
Plastic Surgeon 2.70% 3.60% 4.30% 4.80% 3.00% 2.80% 4.60%
Podiatrist 4.40% 0.90% 0.60% 0.90% 0.50% 2.80% 7.40%
Pulmonologist 1.80% 2.40% 2.00% 6.40% 3.40% 0.00% 0.00%
Radiation Oncologist 0.90% 1.50% 0.60% 0.30% 0.60% 1.40% 1.90%
Sleep 3.50% 8.90% 9.60% 8.50% 13.80% 1.40% 0.90%
Urologist 0.00% 0.00% 0.00% 0.60% 0.40% 0.00% 0.90%
Veterinarian 0.00% 0.30% 0.30% 0.30% 0.10% 1.40% 0.00%
Other (please specify) 25.70% 36.30% 36.50% 33.60% 37.10% N/A N/A
Your age is:
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
30-35 8.10% 6.20% 11.30% 10.50% 13.20%   5.2% 8.20%
36-40 9.00% 13.30% 11.60% 9.50% 11.80% 15.60% 18.00%
41-45 16.20% 15.60% 14.50% 16.00% 17.90% 15.60% 23.80%
46-50 19.80% 20.60% 17.70% 17.80% 18.00% 28.60% 17.20%
51-55 20.70% 22.70% 23.30% 23.70% 19.00% 11.70% 18.00%
56-60 12.60% 12.70% 11.30% 12.90% 10.70% 16.90% 10.70%
61-65 9.90% 5.60% 6.70% 5.50% 6.60%   6.5% 3.30%
Over 65 3.60% 3.20% 3.50% 4.00% 2.80%   0.0% 0.80%
Your practice is located in what state?
Answer Options December '10 Sept. '09 June '09 March '09 December '08 Aug '08 April '08
Alabama 0.90% 1.20% 2.60% 1.20% 1.60%  0.0% 1.70%
Alaska 0.00% 0.00% 0.00% 0.00% 0.00%  0.0% 0.00%
Arizona 1.80% 2.40% 1.50% 1.20% 2.40%  2.6% 0.80%
Arkansas 0.00% 0.60% 1.20% 0.90% 1.00%  0.0% 0.00%
California 8.80% 11.90% 10.80% 7.10% 8.60% 17.90% 10.80%
Colorado 3.50% 2.40% 1.20% 2.50% 3.00%  3.8% 6.70%
Connecticut 3.50% 1.20% 2.00% 1.80% 1.30%  0.0% 1.70%
Delaware 0.90% 0.00% 0.30% 0.90% 0.60%  0.0% 0.80%
Florida 6.20% 8.00% 6.40% 7.10% 7.20%  7.7% 7.50%
Georgia 6.20% 2.40% 1.50% 3.10% 3.40%  5.1% 5.00%
Hawaii 1.80% 0.30% 0.60% 0.00% 0.50%  1.3% 0.80%
Idaho 0.00% 0.60% 0.30% 1.20% 1.00%  2.6% 1.70%
Illinois 8.00% 5.40% 3.20% 4.90% 4.30%  2.6% 5.00%
Indiana 1.80% 1.50% 1.20% 2.20% 1.40%  1.3% 2.50%
Iowa 0.90% 0.60% 0.90% 1.80% 1.00%  1.3% 0.80%
Kansas 1.80% 1.50% 0.90% 1.20% 1.30%  1.3% 4.20%
Kentucky 2.70% 1.20% 1.50% 1.50% 1.80%  1.3% 1.70%
Louisiana 1.80% 1.80% 1.80% 0.90% 0.50%  5.1% 2.50%
Maine 0.00% 0.30% 0.90% 1.20% 0.40%  0.0% 0.00%
Maryland 3.50% 1.80% 2.60% 1.80% 1.60%  0.0% 0.00%
Massachusetts 0.90% 1.20% 3.50% 2.50% 2.80%  0.0% 1.70%
Michigan 0.90% 3.60% 3.20% 3.70% 3.30%  2.6% 0.00%
Minnesota 0.90% 1.20% 1.20% 1.20% 1.80%  0.0% 0.00%
Mississippi 0.00% 0.90% 0.60% 1.20% 0.80%  1.3% 0.00%
Missouri 2.70% 2.40% 2.00% 1.80% 3.40%  2.6% 0.00%
Montana 0.00% 0.60% 0.90% 0.60% 0.50%  0.0% 0.00%
Nebraska 0.00% 0.90% 1.50% 0.90% 0.30%  0.0% 0.00%
Nevada 0.00% 0.30% 0.60% 1.20% 0.60%  0.0% 1.70%
New Hampshire 1.80% 0.60% 1.20% 0.30% 0.50%  1.3% 0.80%
New Jersey 1.80% 3.00% 2.90% 3.10% 2.80%  1.3% 2.50%
New Mexico 0.00% 0.30% 0.30% 0.00% 0.10%  0.0% 0.00%
New York 4.40% 6.30% 7.00% 6.20% 4.40%  1.3% 5.80%
North Carolina 5.30% 3.00% 3.80% 2.80% 3.80%  3.8% 0.00%
North Dakota 0.00% 0.00% 0.00% 0.30% 0.10%  0.0% 0.00%
Ohio 0.00% 3.60% 3.80% 4.30% 4.00%  3.8% 0.80%
Oklahoma 0.90% 1.50% 0.60% 0.00% 0.80%  1.3% 0.00%
Oregon 1.80% 2.10% 1.20% 2.50% 2.00%  0.0% 1.75%
Pennsylvania 7.10% 4.80% 6.10% 5.20% 5.40%  1.3% 2.50%
Rhode Island 0.90% 0.00% 0.30% 0.30% 0.40%  0.0% 0.80%
South Carolina 0.90% 0.90% 2.90% 1.50% 1.30%  3.8% 0.80%
South Dakota 1.80% 0.00% 0.30% 0.60% 0.40%  1.3% 2.50%
Tennessee 3.50% 2.40% 1.80% 2.50% 1.50%  5.1% 0.80%
Texas 3.50% 5.10% 5.60% 4.90% 6.40%  7.7% 8.30%
Utah 0.90% 1.20% 0.30% 0.60% 0.50%  1.3% 1.70%
Vermont 0.90% 0.60% 0.90% 0.60% 1.10%  0.0% 0.00%
Virginia 2.70% 1.20% 1.80% 1.50% 1.80%  2.6% 0.00%
Washington 1.80% 3.00% 1.80% 3.40% 3.00%  1.3% 0.80%
West Virginia 0.00% 0.90% 0.00% 0.90% 0.60%  0.0% 0.00%
Wisconsin 0.90% 3.60% 2.60% 2.50% 2.40%  2.6% 2.50%
Wyoming 0.00% 0.30% 0.30% 0.00% 0.30%  0.0% 0.00%
That concludes our economic survey results.
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