It’s no secret that the DSO market continues to boom with no signs of slowing. While leaders and entrepreneurs focus on the bigger picture, they might not realize that there is an easy way to funnel extra funds into the business: centralizing selling the office-level dental scrap.
Garfield Refining has been servicing DSOs in refining their offices’ precious metal scrap since 2017 with the most advanced program in the market. As of 2023, Garfield is partnered with 6 of the top 10 largest DSOs, but most clients are growing groups around 10-300 offices.
How’s the metal market?
Most practices produce dental scrap on a regular basis. This includes crowns, bridges, PFMs, and other metal-based material extracted during procedures. Most scrap contains precious metals (gold, palladium, platinum, and silver) with high value that could be re-invested into your business. Garfield’s customizable, centralized dental scrap recycling program helps DSOs of all sizes do just that.
Fortunately, right alongside the DSO boom, precious metal prices could also be getting exciting. As predicted in the tail end of 2022 by mining stock expert Claude Bejet, there are hopes to see gold move into a bull market. Last year, gold prices fluctuated between $1,700-$1,900/ozt, peaking at just over $2,000/ozt in March.
Palladium, also prominent in dental metals, is a bit more volatile, but is often a big factor in higher payouts on dental scrap. Palladium reached between $2,000-$3,000/ozt in the first half of 2022 but has seen a corrective downswing in 2023 (Kitco.com).
Learn about how much you could profit based on group size and extraction volumes during our custom consultation.
Work with an expert or miss out on profit
The value of recycling dental scrap is dependent on three main things:
- the expertise of your refinery,
- effective program implementation, and
- growing office compliance.
Garfield’s program is built around these standards and relieves partners of logistical and operational burdens.
Allowing an office-level refining process to run without the right direction usually results in missing value, mishandled material, and careless cash-buyer transactions far below fair market value. The lack of a cohesive recycling plan may also expose individual offices to compliance issues.
The Garfield program has emerged as the top option for DSOs today thanks to its continuous enhancements based on actual DSO cases and proven track-record of success for partners.
Dental scrap recycling to reduce other costs
Offsetting other operational costs is a popular way group practices and DSOs use their dental scrap recycling funds. Scrap recycling can also be used to pay employee bonuses, purchase new equipment, fund office upgrades, or enhance marketing budget.
Our DSO team has spent the several years perfecting the complex strategy needed to refine for DSOs. Our organized, white-glove service is augmented by a full support staff that ensures the program is successful with great return. Garfield has also been awarded Dentaltown’s “Scrap Refiner of Choice” award for 12 years running.