Finding a business partner you can trust is important, so selling your endodontic practice to a Dental Service Organization (DSO) should include practical considerations that will help you avoid pitfalls and find the best fit for you, your patients and your employees. Here are some of the most important questions to ask when considering affiliating with a DSO.
What Is The Company’s Reputation In The Market?
Check the company’s references and qualifications by reaching out to endodontists who have sold their practices and researching the company’s ownership structure. Is the organization transparent about its ownership? Does it emphasize quality over price? Are there upselling practices to try to convince patients to receive unnecessary services without the endodontist’s knowledge? It is critical to do the necessary research to decide which corporation can offer solutions best aligned to your professional and goals.
Who Makes The Clinical Decisions?
Specialized Dental does not dictate how doctors practice. Clinical decisions, tools and equipment, and even scheduling preferences are left to you, the expert.
Will My Practice Lose Its Identity To A Corporate Brand?
Specialized Dental respects what you’ve built and honors that by keeping your team whole and by preserving your practice name, local brand identity, and culture.
What Is The DSO’s Practice Model And Will It Deviate From It?
Will the DSO force you to use cheaper equipment and supplies and outdated technology? Will it impose economies of scale that might impact your numbers and the quality of your patient care? Are vendors required and if so, are they of sufficient quality for your practice and your patients? How much latitude will you have in day-to-day clinical decisions? Will you have the freedom to discuss all reasonable treatment options with your patients? At Specialized Dental Partners, our commitment to your success extends to the tools and technologies you use. You have 100% clinical autonomy – we don’t impose a formulary on our doctors. You have the freedom to choose the equipment and supplies that align with your standards of care. We provide access to the products you prefer, ensuring you can deliver the best treatment to your patients.
Does The DSO Emphasize Profit Over Patients?
Creating outstanding patient experiences is our top priority. Specialized Dental Partners stands for empathy with patients and fostering a culture of continuous learning and professional development so that we can expand our patient reach and spread the life-changing power of endodontistry.
What Will My Employment Status Look Like?
When your practice affiliates with a DSO, will it set a condition that you remain with the practice for a set period of time? Will your commission be based on the practice’s profit and/or your personal productivity? If profit is a factor, will it be calculated according to gross or net revenue? Are there set terms if or when you choose to exit, including whether or not you can help select your replacement?
How Are Compensation And Benefits For Associates Determined?
Compensation levels are very competitive and exact details are negotiated at the practice level. All Specialized Dental practice team members receive a full suite of benefits, including medical, dental, and 401(k).
What Support Will My Practice Receive From The DSO?
Specialized Dental works to amplify the success of its practices by offering business support, leadership training, mentorship opportunities, and encouraging collaboration with the top endodontic practices in the country. Our Support Team works on everything from marketing and human resources, to revenue cycle management and compliance to support the business side of your practice so you and your team can achieve better work-life balance.
What Value Will I Get From Selling To The DSO?
Partners at Specialized Dental are Class A shareholders, which means you are investing in your partners, and they, in turn, are investing in you. As a practicing endodontist, your work continues to produce for you at the same time as your investment as a shareholder does. Specialized Dental’s Value Creation Model generates success through our aligned pursuit of excellence. Our partners have a stake in the company’s proven financial success.
What Are The Legal Stipulations Of The Sale?
Will the DSO offer you a one-size-fits-all deal or will it be flexible in tailoring the requirements of the sale to your specific goals and practice needs? Reviewing the proposed contract of sale and all related legal documents are crucial for avoiding pitfalls.
What Are The Payment Terms?
Holding the DSO accountable through a sale requires understanding its unique payment terms. When considering selling one’s practice to them, ask does the DSO pay the sale price upfront or does the DSO pay it out only after you’ve completed a post-sale, contractual term of employment? Will the DSO be assuming or not assuming your current liabilities? What data and accounting protocols are used to determine your future revenues or commission? Make sure you are clear on the details up front.
Have more questions? Simply contact us for a no-strings-attached conversation. We are committed that you always make the right move for your practice and your future.