As a dental practice sales consultant, one of the most common questions I hear from dentists considering a partnership with an Invisible Dental Support Organization (IDSO) is, “How will this change my practice?” It’s a crucial question, as understanding the potential changes can help you make an informed decision about whether an IDSO partnership aligns with your professional goals and practice vision. IDSOs have gained significant popularity in recent years, offering dentists a unique opportunity to access resources and support while maintaining clinical autonomy. However, joining an IDSO does bring about certain changes to your practice. Let’s explore what you can expect when partnering with an IDSO.
Operational Changes
One of the most noticeable changes you’ll experience is in your practice’s day-to-day operations. IDSOs typically take over many administrative tasks, allowing you to focus more on patient care. This support often includes:
- Financial management: Streamlined accounting, payroll, and tax services
- Compliance and credentialing: Assistance with regulatory requirements and insurance credentialing
- IT support: Access to advanced practice management software and technology upgrades
These changes can significantly reduce your administrative burden, freeing up more of your time for clinical work and strategic planning.
Clinical Autonomy
A key feature of IDSO partnerships is the preservation of clinical autonomy. Unlike traditional DSOs, IDSOs typically don’t dictate:
- Treatment planning decisions
- Procedures performed
- Work hours or vacation time
- Choice of dental supplies or labs
This autonomy ensures that you can continue to provide patient care according to your professional judgment and established practice philosophy.
Branding and Identity
One of the defining characteristics of an IDSO partnership is the preservation of your practice’s brand and local identity
1. You’ll likely see:
- Retention of your practice name and logo
- Continued use of your established marketing materials
- Enhanced marketing support to grow your local presence
This approach allows you to maintain the culture, trust, and recognition you’ve built in your community while benefiting from the IDSO’s marketing expertise.
Staff and Human Resources
Your team is the heartbeat of your practice’s success, and IDSOs recognize this. When joining an IDSO, you can expect:
- Retention of your existing staff
- Access to enhanced benefits packages for employees
- Support in recruiting new team members when needed
- Opportunities for staff training and development
These resources can help you attract and retain top talent, ultimately improving patient care and practice efficiency.
Financial Aspects of an IDSO
Partnering with an IDSO can bring significant financial changes to your practice:
- Potential for increased profitability through cost savings and operational efficiencies
- Access to capital for practice upgrades or expansion
- Changes in compensation structure, often with opportunities for equity growth
It’s important to work closely with your financial advisor, M&A advisor, and the IDSO to understand these changes and ensure they align with your financial goals.
Vendor Relationships
IDSOs often have established relationships with dental suppliers, insurance companies, and service providers. This can lead to:
- Better negotiating power for supplies and equipment
- Better negotiated insurance reimbursements
- Access to new technologies or services at preferential rates
- Streamlined ordering and inventory management processes
These benefits can result in cost savings and improved efficiency for your practice.
Long-term Growth Strategies
IDSOs are invested in the growth and success of their partner practices. You may see opportunities for:
- Practice expansion or acquisition of additional locations
- Introduction of new services or specialties
- Continuing education and professional development programs
These growth initiatives can help you achieve your long-term career goals and increase the value of your practice over time.
Patient Experience
While maintaining your clinical autonomy, partnering with an IDSO can enhance the patient experience through:
- Access to advanced treatments and technologies
- Improved scheduling and patient communication systems
- Potential for expanded office hours or services
These improvements can lead to higher patient satisfaction and loyalty.
Challenges and Adjustments
As with any significant change, joining an IDSO may present some challenges:
- Adapting to new systems and processes
- Learning to communicate effectively with IDSO partners
- Balancing autonomy with the benefits of partnership
As your dental practice sales consultant, it’s important to communicate to you the potential pitfalls and things to be prepared for when affiliating the practice.
Balancing Change with Continuity
Joining an IDSO can bring significant positive changes to your dental practice, from reduced administrative burdens to enhanced growth opportunities. However, the key to a successful IDSO partnership lies in finding the right balance between leveraging these new resources and maintaining the unique aspects of your practice that have made it successful. As your dental practice sales consultant, my role is to guide you through this transition, helping you:
- Educate doctors on how DSOs operate for a clearer understanding of the industry
- Provide a ballpark valuation of the practice without an exhaustive process
- Evaluated potential IDSO partners to find the best fit for your practice
- Introduce reputable and successful M&A Advisory Firms to guide you through the entire process
Remember, the changes brought by an IDSO partnership are designed to enhance your practice, not fundamentally alter it. By understanding these changes and approaching the partnership strategically, you can position your practice for long-term success and growth in the evolving dental industry landscape.
