DSOs: How to understand the differences and make the right choice for you, your patients, and your employees.
Values and Culture: One of the first things to consider when choosing a DSO is the company’s values and culture. Each DSO operates differently, with its unique set of goals and priorities. Certain DSOs will prioritize profitability above all else, while others place greater emphasis on patient care and employee satisfaction. It’s crucial to align your values – both financial and non-financial – with those of the DSO you choose. Establishing a harmonious working relationship between yourself and your new partner will result in the best outcomes for your team and your patients.
Patient Experience: The patient experience is a top priority for any dental practice, whether independent or part of a DSO. When evaluating potential DSO partners, consider how they prioritize patient care, satisfaction, and loyalty. Look for DSOs that invest in modern technologies, offer comprehensive treatment options, and prioritize patient communication and education. A DSO that values the patient experience will not only attract and retain patients but also enhance your professional reputation.
Autonomy and Decision Making: Maintaining clinical autonomy is important for many dental professionals. When examining DSO options, inquire about the level of autonomy you’ll have in making clinical decisions. Some DSOs allow dentists to operate independently within a set of established protocols, while others have more rigid guidelines in place. Find a balance that aligns with your professional outlook and allows you to continue to deliver the quality of care which your patients expect. This can be accomplished while simultaneously benefiting from the DSO’s operational efficiencies.
Financial Considerations: While joining a DSO can offer financial benefits, it’s essential to evaluate the financial aspects carefully. Compare the fee structure, revenue sharing model, and financial support provided by different DSOs. Consider how these factors align with your financial goals. Assess the DSO’s financial stability and track record to ensure that you’re entering into a partnership that will support your ongoing financial success.
Not all DSOs are the same, and choosing the right one requires careful evaluation and consideration. By assessing each of the factors discussed above, you can make an informed decision that benefits you, your patients, and your employees. Remember that the right DSO will align with your values, support your practice’s growth, and ultimately enhance the quality of care you provide to your patients.