How DSOs Can Alleviate Challenges Dentists Face

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The clinical work associated with dentistry is enough to stay busy, but the managerial responsibilities that come along with running a business are enough to lead a dentist to burnout. Handling payroll and dealing with human resources are just a few behind-the-scene tasks no one warned you about. Luckily, there’s always the option to affiliate with a dental service organization (DSO) to ease the load. Here are the other top challenges dentists face when owning a dental practice and how a DSO can help alleviate the burden.

Focus on debt

It’s no secret dentistry is the number-one job in America for debt. This puts even more pressure on dental school graduates to pick the proper transition route when entering into a practice, whether that’s buying an existing dental practice or starting from scratch. Those looking to enter the space are forced to look at different options other than a sole proprietorship. However, unlike traditional medical school debt, taking on dental school debt pays off in the long run when it comes to your return on investment.

For younger dentists who don’t want to take on more debt after dental school by owning a practice, affiliating with DSO lets them do the clinical work without having to bear the responsibility of managing the finances of the practice. Also, for dental entrepreneurs who want to clear their debt from going to dental school and/or starting their own practice, selling to a DSO can be incredibly attractive because DSOs can make competitive offers for practices that can help eliminate or clear some of their debt.

Handle staffing shortages

The dental industry is still feeling the effects of the COVID-19 pandemic, particularly regarding the ongoing staffing shortage, one of the most notable fallouts that has even forced some dentists to consider selling their practices at an earlier age. The good news is dentists are finding creative ways to fill the gaps, including hiring remote dental assistants to open up a new talent pool, regardless of geographic region. Some states are even finding ways to fill those roles in various ways. DSOs, in particular, have an advantage of offering a full-time salary with benefits rather than hourly pay to employees. Some DSOs can also help with recruiting and retaining talent to work at the practice.

Manage higher costs

Now, dentists are also facing the ever-growing issue of higher costs associated with staffing expenses and operating expenses. Regardless of whether or not you’re looking to sell your dental practice, lowering your overhead is always in your best interest. Look to a DSO with dedicated departments to evaluate your costs associated with lab work, supplies, production and more. Also, since DSOs often have many locations, they can typically leverage economies of scale to get lower prices on supplies to help reduce your practice’s overhead costs.

What’s next?

There’s more than one way to run a profitable dental practice. Contact the experts at Professional Transition Strategies to learn what your dental practice is worth.