As the pendulum continues to swing towards “corporate dentistry,” competing for new patients becomes increasingly more difficult. Especially, with their much larger marketing budgets. But that’s not why you should have these 6 dental groups on your radar. There’s an advantage in knowing what your competition is doing. In fact, you may just find some insight to progress your own practice growth.
Recently, Group Dentistry Now (GDN) conducted a questionnaire and presented the results in their article, “Six Emerging Dental Groups to Watch Now.” Based on their evaluations, here’s the alphabetical list of emerging DSOs:
In addition to this list, GDN presented the focuses, initiatives, and plans of these emerging DSOs. Including a few of their insights. We’ve abridged their findings below.
Hopefully, you’ll find some value in what these emerging DSOs are doing. At the very least, you’ll see why DSOs are such a hot topic of conversation; their focus on the business of dentistry is raising the level of competition for new patients.
Source: McGrill & Hill Group
Though, here’s a little not-so-secret secret: the business side of dentistry is a lot less complex and daunting when you understand metrics. It’s a lot more fun, too, especially when your team is engaged in the data. And when the numbers begin to show the return on your data-driven decisions. Here’s a little video to help you understand the language of your business: data.
Here is Group Dentistry Now’s list of 6 DSOs to watch in 2017 (in alphabetical order):
Founded March 1, 2017, CORDENTAL Group is a start-up with 6 locations under consideration in the Mid-Atlantic.
CORDENTAL has an aggressive growth plan of affiliating with 50-75 practices over the next 3-5 years. Their key initiatives are ensuring their practices receive excellent support necessary to grow and thrive while providing best-in-class patient care.
By the end of 2017, interested in both DeNovo and affiliations, Dental365 intends on expanding its dental group to 15-17 offices. After that, their goal is to expand by 8-10 practices each year.
Dental365’s offices focus on all areas of dentistry, so patients never have to go elsewhere for dental treatment. Dental365 accepts walk-ins with little or no waiting time for adults and children. Plus, offers everything from emergency extractions to routine exams, including cosmetic restorations and veneers, periodontal procedures and Invisalign. All in a state-of-the-art environment where patient comfort is a top priority.
Founded by Dr. Melvin Feiler in 1984, Dimensional Dental currently has 39 locations in Michigan, New Jersey, and Pennsylvania.
Recent key successes include the hiring of a strong leadership team including VP of Corporate Development, Director of Marketing, VP of Facilities and VP of Revenue Cycle.
Founded in 1995 by Mark Bruzek, First Impressions, SC currently has 9 offices in the state of Wisconsin.
The foundation is dedicated to the education, advocacy, and preventive needs of school-aged children. Also, this program includes a community mobile dental clinic called the “Toothmobile.” It serves 15 counties in Wisconsin and provides services in schools as well as community programming with WIC, Headstart, day care centers, and at health fairs.
First Impressions, SC has learned that their commitment to patients has grown their business through word-of-mouth rather than a committed referral-based system.
Their long-term growth is focused on a goal of 3-5 practices per year with a strategic goal of EBITDA of 5+ million before alignment with private equity.
MDG’s key successes include the management of their hygiene care program, promotion of talent from within the organization, and the branding of Morrison Dental Group to include a technology advantage with an excellent reputation for high-level dental care.
Also, MDG points out that investing in a management platform before initial expansion and growth helps to create a smoother transition. Both for MDG and the acquired practice and staff.
Started in 2011 by Dmitry Burshteyn, Perfect Dental Management (PDM) currently has 16 practices in Massachusetts, New Hampshire, and Texas.
By expanding services offered, as well as increasing the number of locations and providers, they believe there are tremendous opportunities to continue to provide high-quality care to patients in the markets they currently serve.
However, Perfect Dental Management’s long-term strategy is to take their model into new geographic areas across the country. Currently, they’re forecasting to double the number of locations over the next 2-3 years.
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