Dental service organizations (DSOs) have no doubt gained popularity in recent years, especially since there’s over 350 DSOs operating in the U.S. Now, with an estimated one in five dentists belonging to a DSO, there’s no one-size-fits-all approach to practice ownership. Here are four DSO trends to watch as you consider which transition model works best for you, your staff and your patients, even if you aren’t ready to retire yet.
Doctor-led DSOs
One concern with selling your dental practice to a DSO is the release of all the managerial responsibilities that come with running a business. However, that doesn’t need to translate into a lack of control in how you model your dental practice. In a doctor-led DSO, the owner benefits from resources, such as advances in technology, typically reserved for larger practices but still has clinical and cultural autonomy that will make your practice stand out above the competition.
Specialty DSOs
Gone are the days of DSOs only catering to general practitioners. These days, DSOs are maximizing doctor collaboration by partnering with one or more related specialists to share expertise and best practices. It’s one of the most efficient and profitable ways to grow your dental practice as long as patient care and need, office space, compatibility, and collaboration are all taken into consideration. Some larger DSOs even have sub-categories or divisions that are contractually agreed upon upfront.
Technology access
Advancements in computer processing, data analysis and cloud computing have driven the convergence of innovation and technology in dentistry to enhance the patient experience. Machine learning (ML), artificial intelligence (AI) and 3D printing are still making waves in dental practices, and augmented reality (AR) is gearing up in the world of cosmetic dentistry and orthodontics. Partnering with a DSO that has access to these technologies can only grow your dental practice in ways you couldn’t have otherwise imagined.
Reducing burnout
It's easy to forget to take care of yourself as you focus your energy on patients and staff. Partnering with a DSO to reduce work hours and alleviate the stresses associated with running a business will clear up your bandwidth to take a break from the office, make connections in the industry and communicate openly with patients and staff. DSOs are leading the charge on the connection between better medical and dental integration.
Bottom line
There are countless reasons why transitioning to one of the DSO models might be the right move for your dental practice. Contact the experts at Professional Transition Strategies to find the right fit for you.