Have you been considering selling your practice to a Dental Service Organization (DSO)? Maybe you should reconsider. While DSOs offer dentists an easy solution to simplify operations or secure financial stability, they aren’t always the best option. At SD Dental Solutions, we believe there’s a better path: one that allows you to retain your independence, maximize your profits, and streamline your operations without sacrificing the personal and professional satisfaction of owning your practice.
The Rise of DSOs: Why Dentists Are Considering the Sale
DSOs are consistently prevailing across the country, promising practice owners’ relief from administrative burdens, consistent cash flow, and access to shared resources. An online article reports that between 13%-23% of all dentists are currently working for a DSO. While this number is projected to grow, with some dentists selling to a DSO as a practical choice to reduce stress on their practice, this does come with some trade-offs.
More and more frequently, practice owners lose their control over decisions once they have sold to a DSO. This creates a diluted personal connection with patients and means dentists forfeit a significant share of profits to corporate management. While DSOs provide solutions for some, they are not the only way to keep your dental practice competitive and successful. Let’s dive into an option that maintains your ownership and enhances your practice.
The SD Dental Solutions Approach: Independence Meets Support
At SD Dental, we believe in empowering dental practices to maintain their independence while providing the support they need with their dental billing and dental IT support. Our approach is designed to help you enjoy the benefits of professional support without sacrificing the control and satisfaction of owning your practice.
Financial Benefits of Retaining Ownership
When you choose to keep your independence and partner with us at SD Dental, you enable enhanced financial performance and growth. Our services include:
- Optimized Dental Billing Processes: Our billing experts handle every aspect of your claims, ensuring they are accurate and submitted on time. This minimizes rejections and denials, allowing you to recover more cash that might otherwise be left unclaimed. We also provide detailed insights into your billing operations, helping you make data-driven decisions to maximize revenue.
- Enhanced Operational Efficiencies Through Technology: With our IT support expertise, you can integrate and optimize practice management software, electronic health records (EHR), and other tools that improve workflow. By automating routine tasks and streamlining processes, you can reduce overhead costs and free up your team to focus on what matters most: patient care.
- Profit Retention and Wealth Building: Unlike selling to a DSO, retaining ownership means keeping all profits within your practice. This not only provides immediate financial benefits but also allows you to build long-term equity, ensuring your financial future is secure.
- Customized Tax Strategies: Owning your practice comes with tax advantages that corporate ownership models can’t offer. With proper planning, you can structure your finances to retain more earnings and reinvest them into your practice.
Personal Rewards of Independence
Moving beyond the monetary advantages, keeping ownership allows you to stay true to the values you have established for your practice. At SD Dental, we ensure that you have all the tools and support you need on your terms:
- Control Over Patient Care: When you remain independent, you set the standards for patient care, ensuring that every interaction aligns with your philosophy and priorities.
- Preserve Your Practice’s Culture: DSOs often standardize operations across locations, but as an independent practice, you retain the unique culture and identity your patients know and trust.
- Freedom in Decision-Making: From choosing your technology to setting pricing and marketing strategies, you remain at the helm of your practice, making decisions that best serve your patients and team.
A Partnership That Strengthens Your Practice
When you work with us, you gain a supportive partner, not a controller of your practice. We provide expertise and resources to simplify your operations and increase profitability while ensuring you maintain complete autonomy over your practice. We focus on providing dental billing and dental IT support that your practice needs to remain competitive.
An IT company we’re affiliated with, TTP, makes a similar observation in a recent article of theirs about how IT support can improve operational efficiency. They highlight the importance of investing in the right support to enhance productivity, aligning with our approach to help dentists maintain their ownership. Whether it’s leveraging the latest billing technologies or implementing secure and efficient IT systems, we give you the freedom to focus on dentistry while we handle the backend complexities.
The Bottom Line: Keep Your Practice, Keep Your Profits
Selling to a DSO may seem like the quickest fix to streamline your practice, but it’s not the only option or the best choice for every dentist. Partnering with us as SD Dental means you can retain ownership of your practice, increase profitability, and enjoy the freedom to practice dentistry your way. Contact us today to learn how our dental billing and IT support services can help your practice thrive.
