A Dental Service Organization (DSO) manages the administrative tasks needed to run a dental practice. While dentists take care of their patients daily, a DSO can run several behind-the-scenes tasks to take care of the business end of the practice.
There are many benefits of joining a DSO that a dental practice should consider to operate their business more efficiently.
6 Benefits of Joining a DSO
A DSO can take several tasks off your plate as the owner of a dental practice. Here are a few of the most important benefits of affiliating your dental practice with a DSO.
1. Administrative Management
Owning a dental practice comes with an array of administrative tasks that can interfere with your desire to practice dentistry. From accounting and tax management to keeping up with marketing your business and ordering supplies, these tasks can account for a large percentage of your time.
The right DSO takes over many of these tasks using its professionals with expertise in financial management, human resources, supply chain management, and more. As a result, you can give 100% of your attention to your patients while knowing that your DSO has the backend tasks of running your business handled.
2. Recruiting and Talent Management
Ultimately, your patients spend more time with dental hygienists and office staff than they do with you. Therefore, finding the right team for your dental practice is as important as building your customer base.
Many DSOs oversee human resources, which covers finding the right talent for your practice and ensuring your staff gets the benefits they deserve. Your DSO can accompany candidates from their interviews to onboarding to earning a compensation package at their six-month mark.
Additionally, some DSOs have exclusive job boards to recruit dental practitioners. Often, these positions come with financial incentives, like tuition reimbursement and sign-on bonuses.
3. Access to Modern Technology
DSOs can help dental practices secure the latest technology they need to run their businesses and care for patients. Unfortunately, state-of-the-art equipment can be incredibly costly for practice owners. Plus, most dentists aren’t technology experts, so they may not know much about the computer systems and equipment available to them.
However, a DSO has access to vendors to secure equipment at lower prices than a dental practice could. Its technology experts can also ensure that each piece of equipment given to a practice provides the best possible solutions for that practice.
4. Compliance and Legal Support
All dental practices must adhere to the law regarding treating patients, handling patient information, and meeting local and state laws. A DSO addresses compliance issues and provides legal support to dental practices, allowing them to continue practicing while ensuring they meet government standards and regulations.
More specifically, a DSO can continuously monitor a practice’s compliance to prevent potential issues and offer suggestions for improvement. It also provides support when compliance and legal issues exist, such as patient lawsuits or employee complaints, giving dental practices expert resolution assistance.
5. Insurance Management
Choosing and managing dental practice insurance can take a lot of time and, quite frankly, can be confusing for dental practice owners. DSOs can access various insurance companies and plans to provide dental practices with the best solutions for their needs. A DSO also has the power to negotiate the best rates and terms to fit the needs of each dental practice.
Additionally, a DSO can manage patient insurance claims and issues that arise with patient insurance. Because the DSO can also oversee all accounting practices, the DSO creates a more streamlined billing and accounting process for a dental office.
6. Professional Networking and Training
When a dentist or practice joins a DSO, they gain access to the DSO’s network of other practitioners. Together, members can network, learn from one another, and support each other. Some DSOs have advanced training programs that allow new recruits to learn the latest technology and best practices that their practices currently use.
Many DSOs also provide professional training and support to their members through exclusive events, workshops, and resources. A built-in DSO community can strengthen dental practices’ support to continue offering the best care possible to their patients while advancing their professional opportunities.
Consider Joining a DSO Today
After learning the benefits of joining a DSO, are you considering becoming a member of one? If so, Benevis is ready to help. We currently offer non-clinical dental support services, including marketing, compliance, and tax support, to dozens of dental practices in 17 states. Contact us today to learn more about affiliating your practice with our professional dental network.
What to Expect When Selling a Dental Practice
November 24, 2021
Did you become a dentist with the idea of caring for patients instead of running a business? Or are you looking to retire after a long career in dentistry? Any of those scenarios could have you thinking of selling your dental practice to a dental service organization (DSO).
How Does A DSO Work?
November 19, 2021
DSOs are growing in popularity because they provide business essential solutions for many dental practices. DSO support is welcome news for many dentists who prefer to focus on dentistry and patient care, but how does a DSO work?
What Is the Cost of Starting a Dental Practice?
November 11, 2021
The cost of starting a dental practice is a big adventure, financially and logistically. Any business comes with upfront costs. Dental practices are no different.