Most dentists are unaware that DSOs in one form or another have been with us for 30 years. Yet, today, DSO has become the buzz word for dentistry’s future with experts predicting that 80% of the dentistry being done in 10 years will be from DSOs. Currently DSOs own or control about 17% of practices in the US and are growing by about 15% ...
Read MoreOver and over, I get questions about DSOs from young doctors considering employment as well as doctor owners considering selling. Let’s take a quick look at the facts, current situation, and future possibilities. This will be based purely on interactions I have had with DSOs purchasing practices, the resulting doctor becoming an employee, ...
Read MoreIf you have followed through on being ready, and thoroughly vetted your candidate, we need to take a quick look at contracts. In a simplified way, a contract memorializes in writing what you and your associate, trial partner, or purchaser of your practice have already agreed upon. It is at this point that you are going to involve your attorney ...
Read MoreIf you have made it this far and you have poised your practice for growth, interviewed and found a likely candidate, or you are the young doctor almost ready to pull the trigger on taking that job, then allow me to give you one more quick look at things you may have forgotten. I want to take time to go back and remind you of some of the myths, ...
Read MoreI have included the interview questions we use with every doctor we hire or consider for a position in our offices. It is the culmination of decades of trial and error as well as the science of personality profiles and leadership competency. Don’t change a thing. Don’t leave out a question. Don’t take any short cuts. Just do it and ...
Read MoreKeep in mind that communication as well as interviewing is a two-way street. While the owner doctor and prospective new doctor have different goals, each should assume that getting to know one another in order to assess a good fit requires flexibility and transparency during the interview process. There should be freedom in asking and answering ...
Read MoreIt doesn’t matter if you are the owner looking for another doctor or the dentist looking for a job or partnership, we need to make sure that the time spent, along with the benchmarks we have spoken about, are already in play before we begin looking for that job or doctor. In looking, we want to make sure that both participants in this ...
Read MoreWe cannot not lose sight of “Practice Benchmarks for a well-run General Dental Practice”: I want to remind each of you of the benchmarks you should be pursuing. Lose sight of these, and you lose profit and ruin your chance at a successful transition. From a young doctor’s perspective, if the practice you are considering working with ...
Read MoreNOTE: If you are reading this without first studying the previous 3-4 articles on associateships and partnerships from the perspective of the young doctor and owner, please go to www.summitpracticesolutions.com/blog/ and use the Quick link or Search feature to access these. This will not help you without following the string of articles in their ...
Read MoreLet’s say you are with us so far, and we are on the same page. You are either a doctor looking for a job, or an owner doctor considering bringing in another dentist to the practice. You understand how this can be messed up from either party and you are still willing to go forward. There is one more area you must consider in order to have a ...
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