CORPORATE DENTISTRY // Our Villain or Savior?
ฝัง
- เผยแพร่เมื่อ 29 มิ.ย. 2024
- Corporate dentistry has been an incredibly influential force in the dental world. Dental Service Organizations have exploded over the past two decades, with seemingly limitless funds and appetites for buying the biggest and most profitable dental practices.
How have DSOs impacted dentistry? Do they offer brighter opportunities for dentists, or is this the beginning of the end of dental private practice ownership?
In this video I do a deep dive examining corporate dentistry, how it's changed the dental profession both good and bad, and consider what it means for dentists going into the future.
0:00 Intro
1:21 What is Corporate Dentistry?
2:19 Why Corporate Dentistry Happened?
4:06 Trends in Corporate Dentistry
5:23 Positives and Negatives of Corporate Dentistry
11:18 Myths About Corporate Dentistry
15:36 What It Means for Dentists
17:34 How It Will Impact the Future of the Profession
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I dont buy that premise that corporate dentistry is more efficient. Corporations by necessity have a lot of waste and padding. Maybe they can save a few pennies on supplies which is a pretty negligible amount of the total overhead. But the biggest expense will always be personnel. Revolving door hiring is always more costly with high training times and less efficient and trained staff. The young dentists they hire by necessity are generally much slower and need a lot of guidance. It just shows that business people dont really know how to evaluate medical practices
We run the absolute most efficient dental practice. One dentist one assistant one manager and one hygienist. Same staff for almost twenty years. All of them tops at their game. We use a cerec machine for most of our lab work and use competing suppliers for our purchases.
Having a mob of low paid , low retention low skilled employees doesnt seem like a great business model to me.
Yes an no. If you have no business skills and don’t know how to run a business, corporate dentist may improve your ebitda. If your a high performer and run an efficient business, your ebitda will most likely fall.
I currently work for a corp with 2 other dentists (who are not the owners) and I love it. In my experience, it's a "level playing field" with corp. I don't try to tell the other dentist how to do his job and he doesn't try to tell me how I do my job. I realize not every corp is like this but this is just my experience. I also practice in Canada, so corp may be different here than in USA. It's better than working under some random dentist at a private office (which rarely works out). Because staff loyalty will always be with the person who is signing their paycheques in private office. Also, patients' perception of associates in private office is that associate dentists are seen as inferior quality to the owner dentist. Patients and staff aren't usually very receptive towards an associate dentist. Not so much in corps ("level playing field").
You are the best dental YT channel!!
🙏 ty Tray!
Another incredible video! Thanks for sharing Joel! You’re going to be the champion of young dentists in no time!
ty Stephen! back at ya
I am in the autumn of my private practice ownership; maybe 10 ish years left to practice. I am hoping private practices increase in value of course, and they will. Corporate will settle in and be just another facet; good for some, bad for others. Sellers need to be careful of share purchases where corporate promises the sky in "shares" rather than cash. That can turn into huge losses in the future to the dentist when the shares turn out to be worthless. Some Orthodontists went through this about 15-20 yrs ago in Canada and lost their offices and savings. Another thing I learned somewhat early on is don’t compare yourself to anyone. Sure you can look at other’s offices, homes, gross, net etc, but when it really comes down to it…do your own thing. Comparing my self to other too much absolutely killed my mojo for dentistry until I decided to do things my way. Then things took off for me. One good spouse is also a huge asset. Good videos, keep your white characters still on the screen instead of vibrating, annoying as hell to read moving letters
These videos deserve some recognition on the Facebook groups
thanks Carlos, appreciate your support!
This channel is very helpful
Great job 👏🏻
I love your content ! I’m taking the DAT this summer and your channel is a great place to get good info. Thank you!
GL!
Learned a lot from this one 😊
I appreciate the breakdown, Joel. I’ve heard a lot about DSOs and corporate dentistry. Every video I watch, I feel like I learn so much and can make my own choices in the end.
Thank you!!!
ty Augustine! appreciate it
Amazing video, thank you!!
I’m a hygienist in a corporate office. In my experience and from what I hear from some of the dentists I work with is that it is more efficient.
The pros have been having better medical ins compared to my private practice friends and being one of many hygienist can be nice as well when dealing with pt personalities.
Cons
Working hours ( until 8 and weekends)
Pay - on the low side of average pay
Work load - for a dentist they want more work because they get paid on commission.
As a hygienist in the office I don’t get paid that way. My schedule is always full and compared to my friends in private practice I’m expected to do more during my appt than they are ( excessive (in my opinion) X-rays, Velscope, arestin, scaling and root planning, prevident, fluoride) the treatment is not individualized but standard. that can be good and bad.
Great video Dr. Meyerson! A video on military dentistry would also be helpful.
a bit different style video but I did an interview all about it here -th-cam.com/video/LND8B3sFpZc/w-d-xo.html
I guess they understood tech companies business model and learned how to exploit it with dentistry too!
This is quality content Joel
thank you Adriel!
Talk about MEDICAID, MEDICARE and DENTAL INSURANCE TOO
Another banger!! I am, however, missing that trademark Joel Lulu shirt. (:
lol, they shall return :)
and ty!!!!
Great job on this video. I think you may have been off on the point of earning potential though. Yes a DSO is generally busy, but as a practice owner when the office grows, so does your income. Also, your typical percentage of pay only included the standard collections based model. As an owner, you are also taking home the total profit of the office, so your total pay is closer to 50%. Your sweat equity is returned to you directly rather than to the DSO, and as you grow, the profitability increases due to the fact that most of your costs are tied to labor which remains static. Overall this is only relative to those who want to take on the challenges of ownership which although is more work, can lead to higher take home. Keep these great videos coming, I am sure they are helping many people.
yep, totally agree. check my video on how much money dentists make for more of my thoughts on this. and ty for the support!
It you have poor social skills, poor communication or poor dental skills, then it’s best you work for someone else. There are dentist that go bankrupt every day. The problem is no one thinks they are below average. The market is right most of the time.
Reception
X Ray
Joel you're a handsome bloke.
thanks Joshua, you have good taste
Very handsome bloke indeed!
@@danistein4272 oh oh
Hey I'm a foreign trained dentist, what are the chances to get work visa after getting a DDS degree? and is there any chance for GC for us? i heard about NIW too do we qualify for that ?
this is for USA
I would suggest you to marry a US citizen or Green card holder (if not married yet) if you wanted practice in US, if not very tough to get into this profession.
can we get CE points after listening to your videos? ))) thanks for your insights
haha I wish
Interested in what the comment posted at 6:50 says... :)
you can make a lot of money in corporate if you want to
such high-quality entertainment and education sucks that people like trashy media hence why you do not have quadruple the views.
I'm working on it! but thank you :)
Interesting how they run their business 🤔
definitely is
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