Pros and Cons of Being Affiliated With a DSO
As the dentistry industry has evolved, so have the customers' expectations that visit these dental practices often. This rise in expectations has given rise to a new business model called Dental Service Organizations (DSOs). Think of DSOs as an independent business support center that aligns with a dental practice to facilitate its growth and expansion.
That said, even though there are ample benefits of joining a DSO and watching your business grow, it's also important to note that not every DSO is the same. Several diverse models exist in the industry, and you must do your research before you look for a dental business for sale.
- The most prominent benefit of joining a DSO is letting dentists focus on dentistry. This helps improve the patient's core experience.
- A dentist, who has taken the time to master their skill, may not be versed with the administrative parts of running a business. When both of these parties combine to work in synergy, the DSO focuses on operations it is good at, while the dentist builds a strong clientele with their expertise.
- Moreover, partnering with a DSO also means that a dentist gains access to cutting-edge technology that may not have been attainable otherwise if they decided to run the practice independently.
- Another way a practice can operate better because of a DSO is that a DSO can introduce training programs that can improve upcoming and budding dentists.
- One of the prominent disadvantages of signing a contract with a DSO is the lack of autonomy and independence. Since a DSO is managing everything (administrative staff to payroll), you won't have much freedom over your practice's operations.
- A DSO may also become obsessed with numbers and not focus on providing patients with high-quality care.
Considering buying a dental business for sale? Contact CTC Associates and let us find a dental practice for you.