Leverage Technology for Location Growth
The Bulletproof Dental Podcast Episode 339
HOSTS: Dr. Peter Boulden & Dr. Craig Spodak
GUEST: Brian Colao
TAKEAWAYS
- The dental industry is experiencing a shift towards same store growth as M&A activity becomes more constrained.
- Understanding your EBITDA is crucial for practice growth and valuation.
- Culture plays a significant role in practice value and patient satisfaction.
- Innovation, technology, and AI are driving same store growth and improving patient care.
- Joining a DSO can provide dentists with more opportunities for career advancement and financial stability. Working for a DSO can provide greater job security and protection against unpaid wages compared to private dental offices.
- DSOs have better quality control measures in place, ensuring a higher standard of care for patients.
- The dental profession is expected to become more consolidated, with DSOs accounting for a larger percentage of practices.
- As consolidation increases, valuations are likely to rise due to decreased supply and increased demand.
- The consolidation of the dental profession may pose an existential threat to insurance companies.
- Market conditions, including interest rates and political factors, can impact deal flow in the dental industry.
- Building a business that you don’t want to sell can be a viable alternative to selling, but it’s important to choose the right growth partner.
- The DYKEMA Summit is an annual event that brings together dental professionals to discuss industry trends and best practices.
Chapters
00:00 – Introduction and Setting the Stage
01:19 – The Pulse of the Dental Industry
04:13 – The Importance of Knowing Your EBITDA
07:56 – The Changing Landscape of Dental M&A
12:43 – The Importance of Culture in Dental Practices
18:46 – The Transition to Same Store Sales Growth
23:05 – The Impact of Technology and AI in Dentistry
31:28 – The Advantages of Joining a DSO
34:43 – Benefits of Working for a DSO
35:49 – Quality Control in DSOs
37:03 – Consolidation of the Dental Profession
39:35 – Potential Threat to Insurance Companies
44:40 – Building a Business to Keep or Sell
49:43 – DYKEMA Summit
REFERENCES
Blog
, June 15, 2023
, June 8, 2023
, May 31, 2023
Look at These 3 Stats if You’re Thinking of Going Out of Network with Teresa Duncan
, 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
