I hinted at this in a previous email …
One of the most enticing reasons I see dentists choose to sell their practice to a DSO has NOTHING to do with money.
It has everything to do with how they want to live their life.
In my forty-plus years of working with dentists, I have yet to meet one who said they wished they could spend more time paying the bills, dealing with staff issues, and the myriad of other business tasks that come with practice ownership.
I have a question, and a thought exercise for you today …
What do YOU most want to achieve in the next 3, 5, and 10 years?
Only you can figure out the specifics of this …
However,
Once you know your goals and desires, I would also encourage you to ask this:
Going through a sale with a DSO is a deeply involved process.
I actually really love this whole process … which is of course why I do what I do.
But you can see through my previous work that I work through every aspect of the sale process, and even afterward…
… (because sometimes there are bumps in the road post-sale, but I know how to navigate them) …
I’ve found it helpful for some dentists to understand WHY DSOs are growing the way they are, and more importantly …
Why the investors are so interested in dental businesses.
The short answer is “yield.”
Investors love being able to place their money into something which yields them more money …
Another FEAR-based misconception of DSOs is that they are not good places to work for dentists…
That they have high rates of turnover, and that ultimately you’ll end up hating your work and will quit.
Given the high rate of educational debt for most dental school grads, many are looking for opportunities where they can be assured of earning a good living and can develop their clinical skills.
There’s a lot more to the business of dental businesses and selling to a DSO than finding a good deal.
Even if you have a solid legal team, and you’ve been in business for a long time …
The right person helping you guide the ship can be more than valuable.
To give you insight, I want to share these words from Dr. Brad Freedman …
He is a general practitioner with a single site practice, and 1 associate operating about $2.4 million in topline revenue.
I hear this all the time …
DSOs are only interested in money, not your patients.
And if you go with a DSO your patient care will suffer in the name of their financial priorities.
And while there have been some concerns about DSOs in the Medicaid space (contact me to make sure you get in front of the right DSOs), this concept has been easily refuted.
One common misconception about DSOs is that people seem to think they will bring corporate control over their clinical practice and decision-making…
And that this will lead to a detrimental experience for their patients.
The thought is, a DSO is only interested in their bottom line and that will interfere with the values of a private practice.
There is a MAJOR event that is permanently disrupting the dental profession …
And I don’t want you to miss out.
The root cause is a fundamental shift in the economy which is dramatically increasing the value of dental practices.
Right now approximately 20% of dental practices are affiliated with a DSO.
And some trade insiders predict that number will increase to 50-65% by 2025 (in just 3 years!).
I like to share other people’s success stories from time to time.
Partnering with a DSO is about more than just money, it’s about getting you closer to what you want in life.
And that’s what I’m really all about.
Just read these words from Dr. Scott Dudley … a client of mine, he is a general practitioner with 2 suburban locations and over $5 million in top-line revenue:
“As a practicing dentist, I have been in the dental industry for almost 20 years.
