As the dental industry matures, new business models and business services have appeared. This leads to both opportunity and confusion in the marketplace. Dentists who own practices are becoming increasingly aware of the importance of running their practices like a business. There are many practice management companies that can assist.
There is another option the dental practice owner can choose. The owner dentist can choose to outsource business services to a company that in essence acts like a DSO, but the dentist still owns the practice. Depending on the size and business requirements of the practice, the dentist can choose to outsource one particular service, such as human resources, or outsource all business services to the company. If the dentist selects the later option, they are freed up to focus solely on the clinical aspects of dentistry. It is structured like a DSO in terms of support and services offered, but without ownership.
Dental group practices and DSOs should take note that while these organizations may seem like competition, they can provide the dental support organizations a great service. Think of these companies as incubators which are fine tuning and making solo practices more efficient and profitable. When the solo practice owner is ready to sell the “non-DSO DSO” run practice, it will be an ideal fit for affiliation with a traditional DSO and offer an easy transition.
Here are two examples of non-DSO DSOs:
Avitus Dental is headed up by the former Executive Director of the Association of Dental Support Organizations, Dr. Quinn Dufurrena. Avitus Dental offers the administrative support that independent dental practices need to remain independent.
Stratus Dental supports private-practice owners by providing business expertise that engages and supports clinical and operational teams, enabling them to provide exceptional care and create grateful patients while being well compensated and professionally fulfilled.
Written by Beth Miller, GDN Contributor