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A Minute (Or Two) With Colin Receveur, Episode 79

- Should you join a DSO? The answer is a firm, it depends. Let's have a look at the pluses and the minuses. 

- 2021 promises a lot of relief for the free standing dental practices for the independent guys. 

- But one area of potential stress is going to continue to increase. And that's the continued consolidation of the dental industry. 

- Now, if you've been following this industry news for a while, you know that the percentage of independent practices is shrinking, while the percentage of affiliated practices aka corporations and DSOs is continuing to grow. 

- Now, 2020 did nothing to slow the trends, and 2021 is probably going to see an increase of private dentists continuing to become bought out and affiliated. 

- Now on the plus side, you're going to get a whole lot of administrative support that will free you up to focus more on seeing patients. 

- Ideally, your bottom line should also improve as you spend less time on administration. 

- And you're going to enjoy the economies of scale in purchasing power, although there are group purchasing groups that can give you that plus independently. 

- Now on the minus side, there is a significant loss of autonomy that goes into joining any service organization.

- For an entrepreneurial dentist or a very business-minded dentist who's determined to chart their own course and is able to run the business side of the practice, a DSO is just a non-starter.

- What it comes down to is that there's no should about it. 

- Your circumstances, your personal and professional goals, your need for independence versus support are all the determining factors in your decision. 

- And I've talked with dozens of doctors and helped them to work through these different factors and use the calculators to assess if this really makes sense or not. 

- Now, I've been saying this for a long time, that dentistry is going the way of the medical profession and in many ways, dentistry is about a decade behind MD’s, are right behind medicine. 

- There are relatively few unaffiliated private medical practices remaining, barring some of the new concierge doctors that are out there. 

- So while the future of dentistry isn't written in stone, this is the path that dentistry as a whole is on and it's going to be hard to avoid it. 

- Unless, that is, you find an alternative to joining a group or a DSO. 

- If you're determined to write your own future, take control of everything in your practice in a way that you've never done before. 

- SmartBox has proven leadership and ideas to help you do exactly that. 

- And if you'd like to explore how partnering with SmartBox is going to help you keep control, stay independent, and stay very profitable, you can schedule a no-obligation Practice Growth Call.

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SmartBox employs the best minds in dentistry to help you grow your practice. Our Practice Growth System™ is proven to help dentists in every market area across the country achieve predictable year-over-year growth.

"Running your practice by yourself can feel overwhelming. With our help, you can increase the quality and quantity of your new patients, which will allow you to get back to enjoying life."
Colin CTA

Colin CTA