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What you need to know about the future of the dental practice, how solo practices can thrive in a changing industry and determining whether a DSO is right for you. Are DSOs the future of dentistry? Group practices and DSOs are a certainly a growing trend in the dental industry-one that has many solo practitioners and practice owners a little nervous.
Are DSOs the future of dentistry? Group practices and DSOs are a certainly a growing trend in the dental industry-one that has many solo practitioners and practice owners a little nervous.
But what does the growth of DSOs really mean for the dental industry? How will it affect solo practices? Are solo practices doomed? Is a DSO the right solution for your practice? The bottom line: Whether you are for or against the evolution of group practices and DSOs, you have to keep up with the latest industry trends to be able to navigate the changing landscape and make educated decisions for your practice.
To help, we compiled a list of the top six articles about the DSO revolution that we feel all dental professionals should read.
Continue to the next page to see the must-read articles.
The top 9 benefits of DSOs for dentists
It’s hard to find many businesses that still operate under the same model that they did 30, 20, or even 10 years a go. Airlines are different; cable companies are different; and it should come as no surprise that dental practices are different.
A major trend in dental is the growth of Dental Service Organizations (DSOs), and being affiliated with one seems to be the normal for dental practices.
In conjunction with Vennli, Dental Products Report conducted a survey of 404 dentists to gauge their opinions of various issues involving practice operations. For the greatest concerns, DSO membership appears to offer solutions.
The one question dentists need to ask about DSOs
DSOs are not going away. They are growing between 13 percent and 15 percent per year. They are well financed. They are well led and well managed. They have powerful infrastructures and very accountable people. Young dentists don’t want to own a practice. Older dentists are tired of managing and owning. DSOs will flourish in this ecology.
If the future is DSOs, and it is inevitable that it is the future, it is best to get on this train because it is leaving the station. The DSO tracks are laid for dominating the industry. They’ve got the money, the people, the processes, the infrastructures, the metrics. In essence, they have the wind at their backs and the sun on their face. So, what should dentists be asking about DSOs, given that they will dominate the future?
Are DSOs REALLY taking over?
There's been a lot of doom and gloom about the end of private practice-but is the future really so bleak?
Recent Dental Practice Management articles have identified a significant number of potential problems that dental private practice appears to have with the apparent takeover by DSOs.
They are better funded, organized, and staffed, while wielding buying power that we could never imagine in a solo practice. The growth of DSOs seems to be at a pace which would scare any dentist into thinking that the end of practice as we know it, is in its death knell. But is it really as bad as it appears to be? Can dentists find happiness in our profession without being part of a large dental conglomerate? Let’s take a look at the issues and see if it is all doom and gloom.
How solo practices can survive as DSOs continue to grow
The definition of inevitable is incapable of being avoided; certain to happen; unavoidable. It is inevitable that DSOs will continue to grow.
And if solo practices want to survive, learning how to change tactics and mindset is critical. Here are five things solo practitioners need to stop doing if they want to succeed in a changing industry.
Are DSOs headed for trouble?
The juggernaut successes of the meta DSOs such as Heartland, Aspen and Pacific left a slipstream for others to rapidly grow like Deca and North American Dental Group. Their continued growth and success seems unstoppable. But many DSOs more than likely will follow the path of other companies that had meteoric rises to success only to nosedive.
DSOs may be the future-but as radical changes occur, many DSOs will be stuck in the past.
Why managed group practice will dominate the future
This article is about solo practice, managed group practice and dentist-entrepreneurs, and my opinion that, inevitability, managed group practice will be the dominant form of dental practice in the future. Presenting this future to dentists, it is not uncommon for dentists to find themselves in one of four places: those who are “already there,” those who are strongly interested but unsure of what to do next, those that are uncertain about the validity of this future, and those who are in denial. As a dentist, more than likely you are either in one of these four places.