North Texas Dentistry Special Issue 2018 NTD SP ISSUE 2018 DE | Page 24

TRENDING
TOPICS
in the world of dentistry
DENTISTRY
FACTORS OF
INFLUENCE
OVERHEAD COSTS
CORPORATE
FINANCIAL BACKING
PARTNERING WITH
SPECIALISTS
IMPACT ON
LIFESTYLE
OPPORTUNITY TO
COLLABORATE
DESIRE TO FOCUS
ON DENTISTRY
GROUP PRACTICE
The Size & Shape of Dental Practice
Group ( group / ɡroop / noun )
According to data compiled by the ADA, the solo
dental practitioner is still the norm by far, but group
dental practice is slowly but steadily on the rise.
A number of alternatives to solo practice models
have emerged – large corporate practice, DMSO,
GSO, associateships, multi-specialty, and group
practice. The TDA defines a group practice as
“either a single practice entity owned by more than
one dentist, or multiple separate dental practices
within the same facility creating a shared practice
core.”
Financial advantages. The choice to embrace group
practice is partly financially driven. The group
model enables dentists to reduce overhead costs
for line items like administrative costs and enjoy
economies of scale on the purchase of supplies. It
can bring the cost of services like IT, legal represen-
tation, and marketing into reach. The group
practice is attractive to investors who may be more
willing to offer financing. When dental students are
emerging from school with more debt than ever,
the idea of going into even more debt to set up a
solo practice with expensive technology and hefty
overhead costs can be pretty unappealing.
Lifestyle. Dentists who choose group practice do
not always cite financial reasons as their primary
motivation. For some, the choice is a matter of
lifestyle. The desire to balance work and personal
life is often a major factor in the decision to join a
group rather than launch a solo practice. Some grad-
uates may place a high priority on starting a family
and being available to young children, so working
part time in a group practice can be a good fit.
Collaboration and interaction. Working in a group
practice also offers a remedy to the isolation that
is commonly experienced by a busy dentist in a
solo practice. Rather than attending study groups
on the weekend, working in a group can provide a
more collaborative environment where advice on
24 NORTH TEXAS DENTISTRY | www.northtexasdentistry.com
complex cases, social interaction, and mentorship
are readily available.
Trading control for lifestyle. While some flexibility
and control may be sacrificed in the group practice,
many find the limited responsibility of practicing in
a group provides a lot of freedom. When a solo
dentist is juggling administrative tasks, evaluating
and reviewing staff, hiring and firing, overseeing
supply orders, facility management, watching (and
often worrying) over finances, and managing the
other aspects of running a small business, the
workday can extend well into the evening. In a
group practice, vacation time, work hours, and CE
are coordinated with the other group members,
and business management tasks are shared.
Partnering with specialists. In some cases, general
dentists are partnering with specialists who come
in to the office one or two days a week to provide
specialty care. This optimizes facility use, adds
revenue, and gives patient a convenient option for
specialty care in a familiar location.
Focus on dentistry. For many dentists, the group
model means that more time is spent on treating
patients, which can be a determining factor in the
decision process. After all, that is why most dental
students want to become dentists, and what most
dentist enjoy most about their chosen career. It’s
also what dentists are best prepared to do.
Even with the trend toward new practice models
with varying forms of dentist participation, sole
proprietorship continues to be the most prevalent
model for dental practice. For many dentists, solo
practice provides an invaluable level of control,
flexibility, and simplicity. Still, the slow growth of
the group practice model is undeniable, and the
size and shape of the typical dental practice is
changing. Dentistry is being transformed by a
broader range of practice options, each with their
own unique advantages, expanding the available
choices for those in the profession.