Things to know When Selling to a DSO to Ensure a Successful Future
Dental Support Organization - for some, these words initiate a big sigh of relief while for others, an anxious squeezing sensation in the chest. Not all DSOs are created equal and if you enter the relationship with the right talking points, you just might find yourself a more relaxed, engaged and wealthy dentist.
Here are a few questions to consider and ultimately discuss when negotiating sale with a DSO:
- Do you have the same priorities? This is an umbrella statement but crucial to the success of your practice: what are your ultimate goals in terms of patient relationships, growth targets, compensation, work-life balance? Discuss this openly during negotiation to be sure you and the DSO are on the same page.
- Is the DSO willing to preserve your (already-proven-successful) business model? If it ain’t broke, don’t fix it. A good DSO will want to keep your model intact if it’s working. If it’s not, have a frank discussion about the organization’s plans to better your business and be sure you’re fully aligned with them.
- Who owns the DSO? This is critical to your personal success. Are you working for another dentist, or for private shareholders? This can ultimately determine the level of control you retain over your clinic’s operations and compensation. Know exactly who you’re dealing with and who you prefer to deal with.
- What do you want your day to look like? Be clear on the nuances. What are you used to in terms of flexibility, benefits, compensation, level of production? How many clients per week are you interested in retaining? Read and reread the terms and conditions before hashing them out. You must provide clarity to the DSO on your expectations post-sale.
- Why are you interested in a DSO? Perhaps you detest payroll or you don’t have enough hours in the day to handle both patients and staff. Maybe you want expert assistance in paying off student loans while growing a successful practice, or maybe you’re nearing retirement and need help creating a precise exit strategy. Your top priority will determine the DSO that’s right for you.
My DDS Supply works with DSOs all over the country. Contact us directly to learn more about our aggressive pricing strategies reserved specifically for dental support organizations!
Why purchase from My DDS Supply?
- You can save up to 40% on bulk purchases
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- We supply everyone from private dental practices to wholesale suppliers