ACHIEVES SIGNIFICANT GROWTH ACROSS ALL KEY BUSINESS METRICS
MB2 Dental, the first and largest dental partnership organization (DPO) nationwide, announced today results for 2023, which reached record levels across all key business growth metrics.
MB2 Dental’s achievements during 2023 spanned various areas of the business. The most notable results throughout the year include adding a total of 163 practices to its network, bringing the total at year-end to 663 within the MB2 Dental network. Of these, 150 represent new partnerships forged, and 13 were de novo locations developed from the ground up with doctor partners.
The Company’s composition of affiliated practices now includes 451 general dentistry, 117 orthodontic, 47 pediatric, 16 endodontic, 12 periodontic, and 20 multispecialty.
At year-end, the MB2 Dental network spanned 1,300+ doctors who completed more than three million patient visits total.
De Novo Openings and Expansions
In addition to the newly established aforementioned de novo locations, the growing facilities team completed 17 practice remodels, adding a total of 20 new operatories across 11 practice locations. The team also completed several expansions, adding more than 8,000 additional square feet across seven practice locations.
Support Team and Headquarters Growth
Central services headcount increased with the addition of 115 employees serving in a range of support team positions.
The company saw significant growth in its payor strategy and procurement departments. These teams’ efforts included expanding the Company’s payor relationships as well as the successful execution of various cost-control measures, based on the purchasing power stemming from the overall size of MB2 Dental network. These initiatives resulted in same-store growth enterprise wide.
Total support service employees at year-end reached 500.
Additionally, to support continued, rapid operational and headcount growth, the support service office was expanded by 9,000-square feet, which is currently under renovation. The Company also will add 16,000 square feet of space in a separate building adjacent to its headquarters which will begin renovation in Q1.
In 2023, MB2 Dental focused on building out a footprint in key markets to better serve the patients in those geographies. One area of focus, Phoenix, Arizona, has shown early signs of success for its doctor partners to leverage their referral relationships, resulting in even better care for their patients. The Company has identified additional markets it expects to continue this growth in for the year ahead.
MB2 Dental unveiled its innovative intranet platform, Cerebro, streamlining Company communications between doctors and employees. Cerebro ensures connectivity amongst doctors and employees by ensuring they keep abreast about Company news/events and have access to a plethora of resources as well as vital information and much more. Cerebro also doubles as a social network for MB2 Dental’s doctor partners to share conversations on both professional and personal levels, fostering great communications network-wide.
Additionally, MB2 Dental successfully rolled out Inside Desk’s cutting-edge revenue cycle management platform at scale. Inside Desk is a product that simplifies the process of collecting on insurance claims by automatically providing claim statuses and downloading Explanations o of Benefits (EOBs) without the need for manual intervention. The tool also provides robust workflow management and enterprise-level reporting that has been valuable from both an efficiency and effectiveness standpoint. The feedback from the MB2 Dental team has been overwhelmingly positive, expressing satisfaction with the user-friendly interface and enhanced capabilities. As a result, the Company is witnessing positive outcomes in its operations.
Furthermore, the Company engaged with three of the leading dental AI companies. Working with these companies allows MB2 Dental’s doctor partners to have access to the best technology to provide excellent patient care.
Making a Difference
In May MB2 Dental conducted its annual mission trip Jamaica, during which time, 20 doctor owners provided dental services to hundreds of patients in need.
Furthermore, through the MB2 Family Foundation, the Company’s 501(c)(3) charitable organization which provides financial assistance to employees experiencing financial stress from unforeseen life-altering events, gave a total of more than to $127,560 in relief funds to employees.
“Since our inception in 2007, MB2 Dental has continually reported significant year-over-year growth through our pioneering DPO model. We attribute our outstanding performance to the loyalty of our doctor partners as well as the dedication of our team. This past year proved to be another year of record-breaking growth of which we are extremely proud. We are continuing to expand and evolve our support services as we scale our business to meet the needs of our doctor partners,” stated Dr. Chris Steven Villanueva, founder and chief executive officer at MB2 Dental.
“Heading into the new year, we will continue to grow through both de novo practices as well as the acquisition of new partnerships. In fact, we are kicking off 2024 with over 30 new growth opportunities expected to close in the first quarter. The success of our model speaks directly to partnerships we forge with our doctor partners by providing them the necessary resources to seamlessly operate their practices and focus on patient care,” Dr. Villanueva concluded.
About MB2 Dental
Dallas-based MB2 Dental is a first-of-its-kind dental partnership organization (DPO) founded in 2007 and led by dentist and entrepreneur Dr. Chris Steven Villanueva. MB2 Dental was the first group to introduce the DPO model when it was born from Dr. Villanueva’s practice and soon resonated with his colleagues, quickly growing through doctor referrals.
MB2 Dental’s model is designed to preserve the integrity of the dental profession in a rapidly consolidating market. The Company empowers dentists to preserve their profession by ensuring clinical autonomy and providing resources and support to its doctor owners.
Since its founding, MB2 Dental has partnered with more than 663 general and specialty dental practices across 39 states. The Company has undergone two recapitalization events, most recently partnering with private equity firm Charlesbank Capital Partners in 2021.