Dentists remain the most confident of the healthcare professions with confidence in the sector unchanged year-on-year, according to this year’s Lloyds Healthcare Confidence Index.
The Healthcare Confidence Index, a survey of GPs, dentists and pharmacists, has run annually since 2011 and gives a detailed overview of the sentiment of the sector, as well as exploring the professions’ ambitions and expectations for the future.
The 2025 survey found dentists’ short-term confidence improved from 35 to 38 (on a scale from -100 to +100), though their long-term outlook declined from -50 to -54, leading to an overall index of -8, which is unchanged on 2024.
During the same period, GPs’ confidence improved sharply from -48 to -28, while pharmacists’ confidence dipped slightly from -9 to -12, meaning overall confidence in the healthcare sector ticked up from -21 to -16.
The survey found dentists’ expectations for practice profits remain robust, with seven in 10 (70%) expecting to grow profits in the year ahead, down slightly from 73% in last year’s survey.
But dentists also continue to face economic headwinds, with 85% expecting financial pressures to increase over the next five years. Almost every practice (97%) cited staffing costs as the biggest financial pressure on their practice, while the proportion raising taxation as a key challenge rose dramatically from 25% to 73%, likely reflecting concerns around rising Capital Gains Tax and employers National Insurance.
Goodwill values and reforms
There was cause for optimism around goodwill values – the intangible element of a practice’s value linked to its reputation and other factors – with 94% of dentists surveyed expecting values to be maintained or increase in the year ahead.
And seven in ten (70%) dentists would still encourage friends or family to follow them into the profession.
But there were still mixed views on the impact NHS contract reforms will have on dentists’ profits; while 22% think reforms will cause profits to fall, 24% think they will cause profits to increase and 54% think they will have no impact.
Support for sustainability
Given the challenging operating environment, sustainability appears to have fallen down the agenda, with two thirds (66%) of dentists saying sustainability is important to their future plans, down from 80% last year – citing challenges measuring their environmental impact (64%) and insufficient budgets (42%).
However, dentists are also taking action to improve sustainability, including waste reduction (71%), cutting energy use (43%), using electric vehicles (41%) and creating more energy efficient buildings (23%).
Lee Reeves, UK Head of Healthcare Banking Services at Lloyds, said: “Dentists remain the most optimistic of the three professions, with seven in ten expecting their practice profits to increase over the next year.
“But increases to Capital Gains Tax, employers National Insurance and the Minimum Wage appear to be weighing heavily on dentists.
“We’re longstanding supporters of the sector and will continue to provide practices with the knowledge, products and guidance they need to continue delivering their essential services to the public.”
Andy Acton, Director, Frank Taylor Associates, said: “Confidence remains robust, and the slight dip in long-term sentiment likely reflects uncertainty around any NHS reforms and the performance of the economy; when there’s economic uncertainty, people don’t spend money on private dentistry.
“While the current system isn’t perfect, there’s still a strong commitment to the NHS and most dentists think it adds value to their business; more than half (55%) would like to maintain or increase the amount of NHS work they do.
“The continuing positivity in the profession really stands out; dentists are embracing technology, including AI and remote patient monitoring, which is helping drive efficiency while still delivering great patient care, and their ability to adapt to an ever-changing market should be commended.”
