DSO is a term being thrown around the dental industry, often and not lightly. You’re likely asking yourself what is a DSO, what are the benefits of a DSO and should I consider it for my own practice? If you are, read on for clarity on the latest hot topic in dentistry.
What is a DSO?
DSO stands for dental support organization. It’s an organization that essentially buys a dental company to run the “business” side of things – think administration, marketing, vendor relationships and staffing. A move like this frees up time for dentists to rest their focus on the clinical side of the practice.
What are the benefits of a DSO?
In a time where executives of all industries are opting for more free time to spend with family or to explore the world, the dental world is no different. Dental practitioners of all ages are opting to sell their businesses to DSOs. While those words “sell your business” might make you cringe initially, in reality, the work-life balance it creates is proving more valuable than ever. No matter what stage you are in your practice, affiliating with a DSO could make running your business, and your life, significantly easier.
Who benefits from affiliating with a DSO?
For those just starting out or for those relocating to a new community, the rigors of starting from scratch are intensifying – opening a new clinic requires a huge chunk of your time dedicated to staffing, advertising, building a client base, social media campaigns, and more – chipping away at those valuable hours that could be spent doing actual dentistry or hiking with friends on a Saturday.
Both young and more seasoned dentists find the concept of a DSO attractive. For new dentists recently graduated, paying back student loans can be overwhelming. A DSO can manage income to effectively pay off these debts. According to the ADA via Dental Economics magazine, young dentists are twice as likely to sign up for DSO services. Still, for seasoned practitioners with little to no time to dedicate to an exit strategy, a DSO can assist in creating a profitable retirement plan. At the moment, it’s estimated that up to 10% of practices are affiliated with a DSO and that number is set to grow exponentially.
In short:
More dentistry. Less paperwork.
A DSO can help you:
- start a practice.
- start retirement from practice.
- attract more clients.
- nurture vendor relationships and negotiate effectively.
- hire reliable staff.
- manage payroll and employee benefits packages.
- keep a properly stocked dental office.
We at Plastcare USA are proud to work with DSOs all over the country. We guarantee an easy transaction and aggressive pricing. Reach out to us directly to discuss what we can do for you.
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