As the models for running a successful practice continue evolving, many modern dentists seek an alternative to juggling clinical expertise and administrative burdens. Today, there are various options, each offering unique advantages and considerations. Let’s look at the three most prominent models – Private Practice, Dental Service Organization (DSO), and Dental Partnership Organization (DPO) – to help you navigate the path that best suits your goals.
Private Practice: The Traditional Path
The private practice model has long been the cornerstone of dentistry. Here, the dentist owns and operates their practice independently. They call the shots regarding clinical care, staffing, and overall business strategy, giving them a sense of control and allowing dentists to tailor their practice to their vision and patient base.
However, running a private practice requires significant time to work on administrative tasks. From managing payroll and insurance to marketing and compliance, the burden can leave dentists feeling overwhelmed and stretched thin, impacting their ability to focus on their primary passion – caring for their patients.
DSO: A Supportive Network
Dental Service Organizations (DSOs) handle the non-clinical aspects of running a dental practice, allowing dentists to focus on patient care. They manage areas such as human resources, marketing, financial management, operations, and technology integration across multiple affiliated practices. This support structure enables dentists to increase efficiency, enhance profitability, and reduce administrative stress.
However, selling to a DSO can have several downsides. Dentists often face a loss of autonomy and feel pressured to meet corporate production goals, compromising the quality of patient care. Additionally, the standardized approach can lead to a depersonalized experience for patients, raising ethical concerns about prioritizing profitability over patient well-being.
DPO: MB2 Dental’s Partnership Model
The Dental Partnership Organization (DPO) model was established by MB2 Dental in 2007 to bridge the gap between staying private and selling out to a DSO. DPOs still provide dentists with comprehensive business support services; however, the crucial distinction lies in ownership structure. With a DPO, the dentist retains complete ownership and control over their practice. The DPO acts as a collaborative partner, working alongside the dentist to achieve their desired outcomes while preserving the practice’s brand identity and culture.
“As an entrepreneur, I understand the difficulties, obstacles and uncertainties involved with owning a business. As a former practitioner, I also know how important it is to call the shots as a clinician – to run your practice your way without the influence of big corporate interests. That’s why I set out to create a solution that blends the best of both worlds.” – Founder & CEO, Dr. Chris Steven Villanueva (Dr. V)
Advantages of Partnering with MB2 Dental:
- You remain the captain of your ship, making all clinical decisions and maintaining control over patient care.
- Your practice name and unique atmosphere remain unchanged, and your patients continue to experience the familiar environment you’ve established.
- MB2 Dental handles the administrative side, so you can dedicate your time and energy to providing exceptional patient experiences.
- The power of partnership is that when your practice grows, we grow. Our success is intertwined with yours. We work collaboratively to develop strategies that propel your practice toward your goals.
- Tap into MB2 Dental’s support services as needed, customizable to your specific needs and preferences.
Which Model is the Right Fit For You?
The ideal practice model depends on your priorities. A DSO might be a good fit if you are a dentist seeking a hands-off approach and are comfortable relinquishing control. However, if you value your autonomy and want to retain control over your practice’s identity and direction, MB2 Dental’s DPO offers a compelling alternative.
The DPO Advantage with MB2 Dental
At MB2 Dental, we know dentists are passionate about their craft and dedicated to providing exceptional patient care. We also recognize the desire for autonomy and the value of a practice’s unique brand. Our DPO model was designed to empower dentists by offering comprehensive support without compromising their independence.
If you’re a doctor with ambitions that extend beyond the daily grind, MB2 Dental can be a partner to help fuel your growth long-term. We understand the desire to reach your full potential, professionally and personally. That’s why we focus on building strong partnerships with a selective group. By only accepting 3% of the offices we consider, we ensure a shared vision for expansion. With MB2 Dental, you’ll gain the support and resources needed to take your practice to the next level while also freeing up time to pursue your personal goals.
Partnering with MB2 Dental can propel your practice to new heights. Here’s how:
- Expertise and Resources: We have a team of experienced professionals who offer expertise in marketing, human resources, finance, technology, and more. These resources are readily available for you to tap into without the burden of managing them yourself.
- Scalability and Growth: Our DPO model was designed to scale alongside your practice. As your patient base expands, we can provide the infrastructure and support to accommodate that growth, allowing you to focus on delivering exceptional care, all while enjoying the freedom to pursue a more balanced life outside of work.
- Negotiation Power: As a DPO network, we have the collective bargaining power to negotiate better rates with suppliers and insurance companies. These savings translate into increased profitability for your practice.
- Technology Integration: We stay at the forefront of dental technology, providing access to the latest advancements that can improve patient care, enhance practice efficiency, and streamline your workflow.
- Marketing and Patient Acquisition: Our DPO model offers targeted marketing strategies to attract new patients and strengthen your practice’s brand within the community.
- Dental Practice Valuation: Are you an owner considering selling your dental practice or looking to join a dental group? If you are curious about your dental practice’s valuation, use our dental practice valuation tool so that you may begin to take your first steps.
Conclusion: Thriving with Independence and Support
The DPO model with MB2 Dental offers a unique opportunity for dentists who value their autonomy and desire a true partnership. We empower you to maintain complete control over your practice’s clinical direction and brand identity while providing the support and resources needed to thrive in today’s competitive market. As MB2 Dental continues to grow year over year, we remain focused on empowering dental practice owners and driving success through our partnership model.
If you’re a dentist seeking a path to success that prioritizes professional autonomy and practice growth, connect with an MB2 Dental doctor partner today. Let’s explore how our DPO model can help you achieve your goals and build a thriving dental practice.
