by As we start our third year publishing Efficiency in Group Practice, I am excited about 2015. With this first EGP issue of the year, it is a perfect time to reevaluate your strategies, products and growth plans. We have some great articles to help you make sure you and your DSO / group are on the right track.
Despite flat dental spend, DSOs and groups have been able to grow and thrive. This is due, in part, to the DSOs’ commitment to providing dental access to underserved communities. With this growth comes the even greater responsibility to provide the absolute best dental care possible. This growth cannot and should not take precedence over your commitment to the best patient care with a goal of continuous improvement in this area. The perception of less-than-stellar patient care in a DSO setting, right or wrong, needs to be considered when planning marketing, growth and management decisions. With that being said in this challenging economy, your group needs to leverage its marketing, buying and management strengths to gain patients and continue to expand, whether it is through affiliate partnerships or with de novo locations.
The world of DSOs and group practices is evolving, but one thing is clear: dentists are realizing that there is strength and power in numbers. The large DSOs continue to grow at a rapid rate, even though patient spend remains flat. One interesting occurrence that I’ve noticed is the rise of startup DSOs. I’ve seen no less than a half dozen of these start-up DSOs popping up all across the country. The majority have private equity backing and / or principals that have a PE / finance background. There is also a rise in “franchise” type business models starting to take root. There are more opportunities than ever before for a dentist to partner with a DSO, group, franchise or a variance on one of these types of models. How does your DSO / group model differ from the others? What is your group’s value proposition to a prospective dentist?
Our purpose here at EGP is to provide you with the knowledge and information that will help you navigate through the DSO / group landscape and grow your business. As you dive into this issue, don’t miss these articles:
- “Your Successful 2015 Partners,” by Andrea Kowalczyk, RDH, BS & Heidi Arndt, RDH, BS. This is a great piece on how important the hygienist is to your practices’ growth and its overall success in the marketplace. Some hard numbers are presented to demonstrate the importance of your hygiene team. Partnering is a term thrown around quite a bit, but consider it when evaluating your relationship with your hygiene team. You will be glad you did!
- “Getting to Know You” offers some great feedback from Great Expressions’ Richard Beckman and Kristy Loomis on affiliates and recruiting considerations. (The dirty word, “corporate” is even used.)
- The Solutions Spotlight will help you to get your year off to the right start. Find some innovative, revenue generating products and solutions that are specifically designed to meet the needs of DSOs and large groups.
I’m looking forward to a successful 2015. As DSOs and group practices become mainstream, EGP will continue to be your go-to information resource.|
Bill Neumann
Publisher
