It may be that every dentist one day has his own professional dream. Private practice or solo practice accounts for the majority of dental care delivery in the United States. However, the number of private practice dentists has been declining over the past decade. According to the American Dental Association, in 2006, 76% of dentists were single doctors. In 2010, this number dropped to 69%. In the past two years, the number of group practice sessions has increased by 25%.
There are many reasons for the rise and fall of these two dental practices. Typical student debt today may be between $200,000 and $300,000. Due to the need for additional loans to purchase exercises in the still uncertain economic environment, many students are reluctant to participate in private exercises. In addition, for some, the administrative aspects of running a successful dental clinic alone can be daunting. Human resource issues, insurance contracts, legal issues, marketing, financial reporting, billing and collection, and staffing are all areas where dentists receive the least training.
Group practice can share the burden of management and practice management by allowing practitioners to practice dentistry with other professionals to provide solutions. Types of group exercises
Group exercises can usually be classified by size and management. A group practice has several dental practices closely arranged geographically. Each of these offices may employ 1 to 3 dentists. These practices may be owned by a single dental company or some other dental entity. Usually, management costs, management and advertising are scattered in the office, thereby reducing the overhead of each office. This dental environment may be attractive to dentists and patients who are looking for a smaller, personalized private practice environment.
Another increasingly popular group practice is a dental clinic contracted with a dental support organization (DSO). These DSOs will provide administrative and business support services under the contract. In this dental environment, there are different ownership models, but the businesses of these large groups may have several general dentists and various specialties under the same roof. The convenience of one-stop dental treatment is attractive to patients.
Finally, traditional group exercises are owned by several dentists who practice in the same place. These doctors all share space and staff, usually own buildings and equipment, and are responsible for providing income for the clinic and all management staff. This approach can also hire a dentist to provide patient care.
Advantages and Disadvantages
The main advantage of group exercises is to share responsibilities and work together to help ensure the success of the exercise. Having multiple dentists in one location provides patients with the flexibility to obtain dental care and is also a safety net for dentists, who can conduct emergency visits, vacations and accidental absences. Another obvious advantage of group practice is the friendship and peace of mind to practice side by side with other dentists and experts. Especially for newly graduated dentists, another attractive feature of group practice is that they are more often willing to invest resources in the practice of training new dentists.
There are also financial advantages. In group business, by incorporating other providers (such as experts) into business practices, multiple sources of income can be added to operating income. Since costs are shared and distributed in the office, the reduced costs should lead to increased profits.
Any strength that is used to the extreme is a weakness, so the main disadvantage of group practice is your partner. This possibility may arise when you find that your partner is no longer suitable for the office. Differences in clinical, leadership, financial, ethical, and employee work methods can disrupt this relationship and cause serious dysfunctions in the work environment. If the dentist continues to work with you, your practice and even professional reputation may be affected. Breaking business partnerships can be very stressful and expensive. Must emphasize due diligence before the legal structure is formed.