Dentaltown May 2022 - 10

professional courtesy
column
Perks or Power?
Author's note: The word power in the headline serves as some
nice alliteration but it also refers to a host of owner obligations
and for many, power is the benefi t of autonomy.
When I graduated from dental school in 1995,
my primary career goal was the same as most of my
classmates: to own my dental practice and enjoy the
autonomy of being my own boss. Today, most dental
school graduates are evaluating opportunities with " big
dental " -a term I'm using as shorthand for DSOs,
corporate dental, large group practice or whatever phrase
you like to represent a dental practice with more than
one owner and location.
Last month, we celebrated the 20th anniversary
of opening our practice from scratch. Occasions like
these make us a bit nostalgic, and now more than ever
I think the notion of having a private practice with only
one or two providers sounds a bit nostalgic. I can still
remember the fear and worry that accompanied my
excitement to fi nally have a practice home to call my
own. We started with no patients and while we were
in a growing community, success was not guaranteed.
Many new graduates, though, don't have enough
experience to open a practice from scratch or buy an
existing practice. This is just one of many reasons why
big dental is an attractive option for most new dentists.
These large organizations offer many perks that might
include multiple practice locations to choose from,
CE opportunities, working with peers and mentors,
and none of the hassles of ownership.
The one thing missing from that long list of perks
is autonomy. This is the superpower of a small business
owner-the ability to choose the who, when and how
of your work.
I recently played golf with a dentist who will turn 69
this year. He is in terrifi c health and
loves his practice. I asked him if he
had considered bringing in an associate
to begin buying him out. He told me
that he wasn't ready for that, because
he's been the boss for so long that he
isn't ready to give it up. While some
transition experts may disagree with
this approach, I share it to illustrate
just how important autonomy can
be as an ingredient for a long and
by Thomas Giacobbi, DDS, FAGD, editorial director
10 MAY 2022 // dentaltown.com
happy career. It also illustrates the dilemma that some
retiring dentists will face if they sell their practice to
big dental when they approach retirement. These deals
often require the selling dentist to stay at the practice
for a few years to maintain patient relationships and
provide continuity. Sometimes this is a more diffi cult
requirement than you might think.
The other team members in the practice often see
the value in a mom-and-pop style private practice when
it comes to the business model. Over the years, I have
interviewed many team members who were seeking an
independent practice because of numerous issues faced
in their previous big dental setting. The most common
issues reported are turnover of other team members, poor
treatment from managers and getting moved around
to other locations to accommodate staffi ng shortages.
In the world of private practice, we also have our
share of issues with our dental families, but I think
the majority of situations see more stability and career
satisfaction over time.
The world has certainly become more complicated
since I opened my doors 20 years ago, but I think the
profession will continue to have a place for dentists who
want to practice in a single location and be their own
bosses. People often look to the profession of medicine
for what our future might hold as dentists, and the trend
of physicians leaving large groups to become concierge
providers is very revealing.
I would love to hear your thoughts on this topic. If
you work for big dental, tell me what you love most and
if you think that will be the place you work your entire
career. If you have a private practice, are you happy and
would you do it the same all over again? Please share
in the comments under this article online, or reach me
via email at tom@dentaltown.com. ■
http://www.dentaltown.com
Dentaltown May 2022

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