Australians put their money where their mouths are

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Veneers and teeth whitening are trending as Aussies focus on a part of their body hidden behind a mask for the best part of two years – their teeth.

Compared to six weeks prior, dental work across Australia has seen a resurgence with recent HICAPS data from NAB showing the number of transactions at dental clinics since Victoria’s ‘Freedom Day’ have grown by 41% – putting transactions above pre-pandemic levels.

Nationally, over the same period, transactions have grown by 22%, which translates to an additional 1,057,393 private health insurance claims.

NAB’s Executive for Business Metro, Michael Saadie

NAB’s Executive for Business Banking, Michael Saadie said the bounce back is fantastic news for a sector hit hard by the pandemic.

“The past two years have been tough for many businesses – including medical services – with various lockdowns around the country leaving many clients unable to visit their practice for treatment,” Mr Saadie said.

“We’ve seen as restrictions ease, consumers are getting back out there spending money that’s been sitting in the bank. Sectors such as retail are performing well as people have more disposable income and they want to spend it somewhere – our data shows dentists are also benefitting from this trend.”

Dr Joseph Badr, Founder and Principal Dentist of Dspa Dental clinics and Dsmilecare foundation has been working in the industry for over 25 years and has not seen the sector take such a hit since the Global Financial Crisis.

“The pandemic has been a wild roller-coaster ride with many of our patients having to put off their regular appointments due to various lockdowns, deferring sometimes major dental work,” Dr Badr said.

“Now that more Australians are vaccinated and the country has opened back up, Aussies are focussing on their dental health again – a response to procedures people delayed during the peak of the pandemic.

 

Dr Joseph Badr

“We’re seeing a resurgence in major procedures such as crowns, full mouth rehab and bridge work. We’re also seeing an uplift in cosmetic work such as vaneers and teeth whitening as part of an overall increase in spending on personal care and wellness.”

Dr Badr noted medical tourism has halted due to Australia’s national borders remaining closed, meaning Aussies are now getting work done at home.

“People have more time and money because they’re not travelling internationally, so instead of spending it overseas, they’re coming in to get work they previously would have had done elsewhere.”

Feature image above: Dr Joseph Badr, Founder and Principal Dentist of Dspa Dental clinics and Dsmilecare foundation.

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Dr Joseph Badr, Founder and Principal Dentist of Dspa Dental clinics and Dsmilecare foundation

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NAB’s Executive for Business Metro, Michael Saadie

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