Dental service organizations (DSOs) have gained popularity by enhancing practice efficiency and profitability through their expertise, resources, and access to advanced technology. For dentists evaluating their career options, partnering with a DSO-owner practice is one opportunity to explore.
DSOs are management entities that partner with or acquire dental practices, providing administrative and operational support. Let's explore some of the advantages of the dental service organization business model.
Joining a DSO-affiliated dental practice can offer several benefits to dentists, which are outlined below.
One of the primary benefits of working with a DSO is the ability to concentrate more on clinical work and patient care.
DSOs often provide administrative support, allowing dentists to concentrate more on patient care and less on the day-to-day operational tasks of running a dental practice. This support can include assistance with scheduling, billing, marketing, and staff management, allowing dentists to dedicate more time to their patients.
DSOs typically have experienced management teams that handle various non-clinical aspects of running a successful dental practice. They can offer:
DSOs often invest in state-of-the-art dental technology and equipment. Joining a DSO-owned practice can provide dentists with access to advanced facilities, emerging treatment options, and specialized training, which can enhance the quality of patient care and provide opportunities for professional growth.
The DSO model may offer structured career paths and avenues for professional development, including:
Joining a DSO-owned practice means becoming a part of a larger network of dental professionals. This can lead to:
Contrary to popular belief, many DSOs allow founding and joining member-doctors to purchase shares of the corporate entity. This means owner-doctors can benefit from the upside potential of owning a dental practice through investment without worrying about the day-to-day managerial stresses and headaches that come with running a practice.
The recapitalization events that occur with DSO-owned practices can be extremely financially rewarding, benefitting the shareholders.
The popularity of DSOs has continued to increase over the last several years. While the benefits of joining a DSO-owned practice can feel significant, it's crucial to carefully evaluate each organization's specific offerings, culture, and values. Dentists should ensure that the DSO aligns with their personal and professional goals before making a decision.
At Spaugh Dameron Tenny, we understand we understand the unique financial challenges and opportunities that dentists face. Our team of experienced financial planners can help you navigate the decision-making process and develop a comprehensive financial strategy tailored to your career path, whether you choose to join a DSO or pursue other options.
Contact us today to discuss your financial goals and explore how we can help you make the most of your dental career.
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As the Director of Planning & Strategy for Spaugh Dameron Tenny, Jordan applies his academic and practical experience in the creation and maintenance of the firm’s financial plans, as well as coordinating research efforts for products and strategies that may benefit clients. Originally from Canada, Jordan came to Charlotte on a golf scholarship where he attended Queens University of Charlotte. In addition, Jordan has a Master’s degree in Wealth and Trust Management.
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