In this episode, Editor-in-Chief Kevin Henry spoke with Chip Fichtner, co-founder of Large Practice Sales, about the growing trend of invisible dental support organizations (IDSOs) and their impact on dental practices. They discuss the autonomy that doctors retain when partnering with invisible DSOs, the importance of age in these partnerships, and how young doctors are increasingly seeking these opportunities. The conversation also addresses common concerns among dental teams during transitions and the significance of choosing the right IDSO partner for long-term success.
So what does Fichtner want dentists to know about IDSOs?
"The invisible DSO is not going to tell the doctor how to run their practice," Fichtner said. "They're not going to tell them who to hire, who to fire, what procedures to perform, what payers to take, or what products to use. They are truly going to be a silent partner with the resources. And their goal is to help their partner practices grow bigger, better, faster, and more profitably. And they'll reduce the administrative burdens on the doctor. So the invisible DSO is a great partner."
Fichtner also emphasizes the value of continuity when it comes to IDSOs.
"The reality is the invisible DSOs value your teams as much as they value you, because it's you and your team who have built what they are investing millions of dollars in," Fichtner said. "So the teams in all cases are going to end up with benefits that are equal to or better than whatever they have today. And the doctor is still going to be the one who's going to be dictating what it is they do every day, the invisible DSO is not."
Watch our interview below and learn more at www.largepracticesales.com.
Podcast takeaways
- Invisible DSOs allow doctors to maintain full autonomy.
- The market for IDSOs is rapidly growing.
- Younger doctors are increasingly interested in DSO partnerships.
- Partnerships can provide liquidity to eliminate debt.
- The value of a practice can dramatically decrease with the owner's absence.
- Team members often fear job loss during transitions, but this is unfounded.
- Invisible DSOs can offer better benefits for team members.
- Choosing the right DSO partner is crucial for success.
- Researching potential partners can prevent negative outcomes.
- Equity opportunities can enhance team retention and recruitment.
Podcast chapters
(00:00) -- Introduction to invisible DSOs and their impact
(03:06) -- Understanding the growth and trends in dental practices
(06:00) -- The role of age in DSO partnerships
(09:03) -- Addressing team concerns during transitions
(12:14) -- Choosing the right DSO partner
(15:04) -- Conclusion and future outlook for dental practices
