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Episode 472

Building a Successful DSO

Host: Gary Takacs | Published Date: January 27, 2021 | Listening Time: 00:54:31

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In this Thriving Dentist episode, Naren & Gary share insights on what successful DSOs do, and how you can go about building one of your own, or, take these concepts and apply them in your own practice!

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There are many successful practice models you can find in dentistry today. solo practice, multi-owner/associate practice, multi-office practice groups are some to name a few.

Expanding your practice to add on an associate or another practice location is a great way to create financial independence and grow your practice.

Today, the term “DSO” holds a negative light among dentists. However, there are great DSOs out there. Even if the thought of building a DSO isn’t on your radar any time soon, you can learn a lot by doing the things that successful DSOs do!

Listen to the episode to find out how to successfully build a DSO!

Time Stamps

Thriving Dentist Clinical Tips Segment

  • 00:03:15Clinical Tip by Markus B. Blatz, DMD, Ph.D. on “Bonding to Zirconia”
  • 00:07:01Gary busts a myth about DSO’s
  • 00:08:42What are the different kinds of formats and flavors of DSO’s?
  • 00:13:43The 6 goals your practice needs to achieve if it’s fine-tuned.
  • 00:16:19Gary talks about the investment community
  • 00:16:58The difference between venture capital and private Equity
  • 00:20:15What is a practice worth when a doctor goes to sell that practice?
  • 00:23:10How is the valuation model different when you sell your practice to a DSO?
  • 00:25:00What is the acronym EBITDA?

Q&A Segment

  • 00:32:57 – Question 1 – Gary, I know that in the last few years, Private Equity has been very interested in Dentistry. Do you see that changing in the post-COVID 19 world?
  • 00:36:44 – Question 2 – How many locations do I need to qualify for the higher valuations that I see in selling a DSO to a Private Equity Firm?
  • 00:39:13 – Question 3 – When would it make sense to create an administrative support Team to provide business and admin support to my locations?
  • 00:43:56 – Question 4 – Are banks willing to finance the purchase of future practices in my DSO?
  • 00:47:36 – Question 5 – What is the biggest challenge in building a successful DSO?

Resources


Gary Takacs

Gary Takacs Gary became a successful practice owner by purchasing a fixer-upper practice and developing it into a world-class dental practice. He is passionate about sharing his hard-earned insights and experiences with dental practices across the globe.

As a dental practice coach, Gary provides guidance for dental professionals on how to create a healthier practice style that lets them deliver excellent patient care while reducing depending on insurance.

More importantly, Gary’s insights are not just based on theory – as a co-owner of a dental practice, he has first-hand experience in making this transformation from a high-volume and low-fee insurance model to a fee-for-service approach that is more sustainable and promotes a patient-centric and financially healthy dental practice, and he is dedicated to sharing this knowledge with other dental practitioners via the popular Thriving Dentist Show!
Connect with Gary Takacs on Linkedin
Podcast Assistance by Jodey Smith, Rodecaster Expert