We’ve been talking about DSO 3.0 here at NextLevel for some time now. Maybe you’ve seen one of our webinars or read our articles in Dental Economics about it. Maybe you’ve even seen our big announcement about NextLevel Doctors Group. But up until now, we’ve only ever told you about it from a consultant’s perspective. That’s why we’re so excited to share with you our conversation with Drs. Michelle and Glenn Taylor from Sandy, Utah.
Michelle and Glenn are a husband and wife dental team that own a highly successful practice, and just recently joined a DSO 3.0. Our founder, Gary Kadi, and Dr. Pam Maragliano-Muniz, Chief Editor for Dental Economics sat down with the Taylors recently to hear about DSO 3.0 from a practice owner’s perspective. You can watch their entire discussion here, but here are a few of the highlights of their conversation.
From Uncertainty to Vision:
Before their journey with DSO 3.0, the Taylors were uncertain about their retirement outlook. After consulting with their accountant and financial planner, they were disheartened to learn they might have to wait another ten years before retiring. This led them to search for alternative solutions to accelerate their retirement plans.
Embracing the DSO Model:
Introduced to the “Five Million over Five Years” concept by Gary Kadi, the couple was initially skeptical. However, Gary’s reputation for integrity and thorough research convinced them that DSO 3.0 was worth exploring. The Taylors saw that joining a DSO didn’t mean giving up control; it allowed them to maintain their practice identity while gaining significant benefits.
The Power of DSO 3.0:
DSOs have become a polarizing topic in dentistry, with some viewing them as a threat to independent practitioners. However, the growth rate of DSOs across the U.S. is undeniable. The ADA predicts a near 100% growth rate between 2018 and 2025, and a significant increase in market share by 2035. For the Taylors, joining DSO 3.0 was initially not in their plans, but they discovered its potential to provide new opportunities and support.
Balancing Control and Support:
Before learning about DSO 3.0, Michelle and Glenn were concerned that joining a DSO would mean losing control over their practice and personal lives. However, their experience with DSO 3.0 has proved otherwise. They maintain their practice identity, have the freedom to make clinical decisions, and benefit from various support services like IT, payroll, accounting, and health insurance for employees.
Navigating the transition to DSO 3.0 on their own would have been daunting for the Taylors. They credit NextLevel Practice for providing invaluable support in understanding their options and connecting them with other practices to form their DSO 3.0. This collaborative approach has created a strong culture within their group, ensuring a seamless integration.
Financial Success with DSO 3.0:
Joining DSO 3.0 allowed the Taylors to overcome their initial retirement timeline, which would have required an additional ten years of work. The financial benefits they discovered were a revelation, providing a well-deserved sense of accomplishment for their decades of dedication to dentistry.
Is your interest piqued?
We loved the Taylor’s 45 minute conversation with Gary and Pam. If you’d like to hear more about what they had to say, plus some real-world advice from Gary about everything from timing to multiples to practice growth, you can watch the entire webinar on demand. Just click here to register.
In the meantime, if you have specific questions about DSOs and your practice, you can schedule a free 1:1 call with our DSO 3.0 expert. In your free, no-obligation 30 minute call, you can look over your practice numbers, learn more about DSO 3.0, and get help deciding if joining a DSO is right for you.