Transitions Sunday: A Nacho-Ordinary Recap

by Victoria Harris Victoria Harris | Apr 25, 2024 1:17:08 PM

 

Ever found yourself at a crossroads, wondering if you should take the DSO highway or the private practice scenic route? Well, you missed a tooth-tastic event that could've cleared all your doubts! Transitions Sunday was like the Coachella for dentists - minus the music and interesting fashion choices, but loaded with insights on navigating the murky waters of dental practice transitions. Let’s take a look at some of our talks from the day!

Some of our Rockstars of the Day

One of our presenters was Justin Kingshirn from *nacho sponsor* McLerran and Associates, who's basically the Gandalf of guiding dentists through the DSO realm. His talk, "How Does A Dentist Decide Which DSO Deal is Right For Them?" was so riveting, it made root canals sound fun. He dove into DSO deal structures, valuations, and why some dentists end up wearing the cone of shame after a bad DSO affiliation. Spoiler alert: it's not just about the money, honey!

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Another presenter, Brian Hanks of *nacho sponsor* Dental Buyers Advocates waltzed in, spreading peace like a dental fairy godmother with his session, "The Decision: DSO or Private?" Picture this: private practice owners huddled in fear of the big bad DSOs, and Brian's there, saying, "Chill, folks! You've got this!" His talk was a heart-to-heart on how private practices can still slay in the age of DSOs. It's like finding out your grandma's cookies can compete with store-bought ones. Warm, fuzzy, and oh-so-reassuring.

Richard Gervais from 42NorthDental threw a curveball on his panel with Dr. Nacho, "A Checklist to Determine if Selling to a DSO is the Right Treatment Plan for You." He started with "DSOs aren't evil," which, coming from a DSO guy, was as surprising as finding out that dentists recommend chocolate for toothache (they don’t, by the way). Richard turned the DSO debate on its head, offering a fresh perspective on the value they bring, and even made a case for VideaHealth AI – because who doesn't love a bit of tech with their teeth?

 

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And then, Branden Hill and Kate Worth – our dynamic nacho duo from Dental Nachos & Dentist Job Connect – tag-teamed on how hiring an associate is pretty much the equivalent of finding the last piece of a puzzle. It's about upping revenue and collections without selling your soul. They dished out advice like it was Halloween candy, focusing on the sweet, not the sour, aspects of dental practice growth.

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Cecil Staton of *nacho sponsor* Arch Financial Planning also took us on a roller coaster through the thrilling world of DSO deals and retirement - think of it as "Finance 101 meets your dental practice". He dove into the nitty-gritty of what makes a DSO offer tick, how private practice offers stack up, and even sprinkled in some sage advice on investment strategies. Because who doesn't like a good wealth accumulation story?

The stage turned into a brain-picking session with Dr. Bob Dee, Dr. Marc Faber, and Rondi Michaux leading the charge. They tackled the million-dollar (or, in this case, 1.5 million-dollar) question: To sell or to grow? It was like a "Choose Your Own Adventure" book but for dental practices. They shared their journeys into becoming magnates of multi-practice ownership, and debated whether technology could be the secret sauce to outsmarting DSOs. Spoiler alert: owning a 5-op practice raking in 1.5 mil a year puts you in quite the pickle when deciding between DSO cash-ins or solo glory.

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Dr. Yahya Mansour and Sam Zarrabi from Rodeo Dental also shared the love (and the loathe) on what to look for in an associate. It's like Tinder for dentists, but with less ghosting and more commitment. They covered the good, the bad, and the ugly of associateships, offering pearls of wisdom on how to attract and retain the crème de la crème.

 

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Together, these presenters didn’t just lay out the buffet of options available in dental transitions; they seasoned it with wisdom, garnished it with humor, and served it up hot. Whether you left Transitions Sunday feeling ready to take on a DSO deal or inspired to champion the cause of private practice, one thing’s for sure: you knew a heck of a lot more than when you walked in. And maybe, just maybe, you had a little fun learning it all. Who said dentistry had to be as dry as mouthwash-free morning breath?

What We Chewed On

Transitions Sunday wasn't just another dental conference. It was a smorgasbord of insights, a veritable feast for the mind, leaving attendees stuffed with knowledge and ready to tackle their career transitions like a pro. Whether contemplating a DSO deal, clutching to the independence of private practice, or simply hunting for the next big opportunity, the day served up a platter of perspectives to chew on.
The real takeaway? Whether you're looking to hitch your wagon to a DSO star or forge your path in the wilds of private practice, there's no one-size-fits-all answer. It's about knowing your values, understanding the landscape, and making informed decisions that'll keep you smiling – professionally and personally.

Missed Transitions Sunday? Want to see the entire list of presenters? Fret not, my dental compadres. With the right info and a dollop of courage, you’re well-equipped to make those big life decisions. After all, in the world of dentistry, it’s not just about filling cavities – it’s about fulfilling dreams…. Or get sign up to access our recording when it’s ready! Text RECORDING to 215-543-6454 to get access! 

 

*Some of the companies mentioned in this blog are key resources and sponsors of Dental Nachos.

 

Additional Reading