Bringing a Knife to a Gunfight – Solo vs DSO(2024)
The Bulletproof Dental Podcast Episode 355
HOSTS: Dr. Peter Boulden and Dr. Craig Spodak
DESCRIPTION
The conversation explores the advantages and disadvantages of DSOs (Dental Service Organizations) compared to solo dental practices. We’ll discuss the operational efficiencies of DSOs, including better lab fees, insurance negotiations, procurement of supplies, technology, and data utilization as well as highlight the importance of the patient experience and the potential for solo practices to excel in this area. The conversation delves into the challenges faced by solo practitioners, such as high team salaries and the pressure to compete with DSOs. Peter and Craig emphasize the need for private practice owners to adapt and innovate in order to stay competitive. They also discuss the impact of student debt on private practice ownership and the role of technology in improving dental practices.
TAKEAWAYS
- DSOs have operational advantages in terms of lab fees, insurance negotiations, procurement, technology, and data utilization.
- Solo practices can excel in providing a superior patient experience.
- Solo practitioners should focus on improving operational efficiencies and reducing expenses to level the playing field.
- Mergers between solo practices can provide economies of scale and enhance competitiveness.
- The DSO model may face challenges due to the pressure for short-term returns and the potential fallout from a changing economic landscape. Private practice owners need to be aware of the changing landscape of dentistry and the rise of dental service organizations (DSOs).
- The high amount of student debt limits options for private practice ownership and partnerships.
- The Bulletproof Summit and Bulletproof Mastermind offer valuable opportunities for learning and growth in the dental industry.
CHAPTERS
00:00 – Reuniting and Discussing the Rise of DSOs
04:10 – The Advantages of DSOs: Operational Efficiencies and Technology
14:12 – The Importance of the Patient Experience in Solo Practices
17:09 – Challenges Faced by Solo Practitioners: Team Salaries and Competition
22:26 – Potential Solutions: Mergers and Long-Term Strategies
27:38 – The Future of DSOs: Challenges and Opportunities
30:45 – Adapting to the Changing Landscape of Dentistry
32:13 – The Impact of Student Debt on Private Practice Ownership
33:34 – The Role of Technology in Improving Dental Practices
35:23 – The Value of the Bulletproof Summit and Mastermind
REFERENCES
Blog
, June 15, 2023
, June 8, 2023
, May 31, 2023
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, January 11, 2023
, December 28, 2022
Knowing What You Don’t Want with Judy Kay Mausolf of Culture Camp and Erika Pusillo
, November 30, 2022
Cabo This Week, Immersion Learning, Biggest Breakthroughs, Your Personal KPI is Net Worth
, November 2, 2022
, October 19, 2022
Business is not Productivity, Productivity is not Profitability with Chris Salierno
, September 22, 2021
3 Biggest Bottlenecks of an Entrepreneurial Dentist: PART 2 with Perrin DesPortes of TUSK Partners
