Just Say No To The DSO

In this final episode of Season 2, Bob Spiel and Nate Williams emphasize the need for
dentists to critically assess DSO offers and understand the financial biases at play that
drive toward consolidation – while leaving dentists in the dust. Bob and Nate aim to
educate dentists and empower them to make decisions that align with their best
interests and long-term goals. Teasing Season 3, they promise deeper exploration through interviews with dentists who have resisted DSOs or exited them, sharing their experiences and insights.

Get ready for a candid and insightful chat as Bob Spiel and Nate Williams summarize
Season 2 of "Just Say No to the DSO" – foreshadowing the end of Season 2 (although
there will be one more bonus episode #9 coming.) In this episode, they dive deep into
the nitty-gritty of selling dental practices to Dental Service Organizations (DSOs),
offering up wisdom, wit, and a healthy dose of skepticism.

Bob and Nate encouraging dentists to reject DSO sales pitches and maintain ownership of their practices for long-term success. Reiterating the importance of staying engaged in their work and understanding that DSOs won't overpay or make practice ownership easier.

In this episode of “Just In this episode of "Just Say No to the DSO," hosts Bob Spiel and
Nate Williams dive deep into the subject of DSO sale and employment contracts, and
the surprises that dwell inside each.
The discussion underscores how DSO contracts are driven by dollar signs and the
DSO’s need to exert control in the business relationship.

In this episode of Just Say No to the DSO hosts Bob Spiel and
Nate Williams dive deep into the subject of ownership in a DSO, or what is called
“Equity”. They describe why Equity is a self-made target that allows DSO’s to
dramatically overstate their value, which leads dentists to believe their ownership is
worth much more than it is.

The discussion underscores the lack of transparency among DSO valuations, and why
self-defined Equity is open to abuses. Ultimately, the episode aims to empower dentists
to make informed decisions that safeguard their autonomy and financial well-being.

In this episode of "Just Say No to the DSO" hosts Bob Spiel and Nate Williams dive deep
into the deceptive tactics employed by Dental Service Organizations (DSOs) to lure
dentists into unfavorable agreements. Through real-life examples and a critical analysis
of a $29 million DSO offer, they highlight the hidden costs and risks that dentists often
overlook in pursuit of financial gain.

The discussion underscores the importance of diligence and transparency in evaluating
DSO deals, urging dentists to seek independent advice and scrutinize all terms before
relinquishing control of their practices. Ultimately, the episode aims to empower
dentists to make informed decisions that safeguard their autonomy and financial well-
being.

The podcast is episode three of Season 2 for “Just Say No to the DSO." Hosted by Bob
Spiel and co-host Nate Williams, it discusses reasons why dental practice owners
should avoid selling to Dental Support Organizations (DSOs).

This podcast episode is a warning to dentists who are thinking about taking DSO deals.
The hosts do a deep dive into a $20 million DSO deal and reveal how deceptive these
deals can be. They stress the importance of being critical and skeptical of these deals.
The goal of the podcast is to help dentists make informed decisions about DSO deals
and keep control of their practices.

In this podcast episode of "Just Say No to the DSO," hosts Bob Spiel and Nate Williams discuss the importance of dentists maintaining control of their practices rather than selling to Dental Service Organizations (DSOs).  

They emphasize that smart business people don't overpay for practices and that DSOs are adept at making dentists think they're getting a great deal when, in reality, they may be giving away their practices for little to no value.  

The hosts explain the concept of EBITDA (earnings before interest, taxes, depreciation, and amortization) and how DSOs structure deals in a way that essentially allows them to acquire practices for free or at a minimal cost to themselves.  

They warn dentists to be cautious of promises made by DSOs regarding equity and future earnings, as these promises may not materialize. The episode concludes with a teaser for the next installment, where they will delve deeper into the realities of DSO deals.

The podcast is episode one of Season 2 for “Just Say No to the DSO"; Hosted by Bob Spiel and
co-host Nate Williams, it discusses reasons why dental practice owners should avoid selling to
Dental Support Organizations (DSOs). Bob Spiel has an MBA and is a practice management
consultant, while Nate Williams is a dental CPA. They have both been in dentistry for over 15
years.

Key points discussed: Introduction: Bob and Nate introduce themselves, emphasizing their
experience in dentistry and financial consulting.

Reasons to Avoid DSOs: They discuss three prevailing myths about selling to DSOs:
● Myth 1: Selling to a DSO will make more money.
● Myth 2: Selling to a DSO means earning passive income from others'; work.
● Myth 3: Selling to a DSO will make life easier.

They then dive into:

Reflection on Season 1: Bob and Nate reflect on Season 1's topics, emphasizing the
importance of owning a dental practice for long-term wealth.

Changes in the Industry: They discuss the rapid growth of DSOs and the
challenges they face, such as contract expirations and recruitment difficulties.

Case Study: Bob and Nate share a real-life example of a DSO facing financial
difficulties and restructuring, highlighting the risks associated with selling to DSOs.

Lessons Learned: They draw parallels with the medical industry's shift towards
corporatization and caution against losing control over one's practice and profession.

Preview of Season 2: Bob and Nate outline the topics to be covered in Season 2,
including financial principles, contract analysis, equity considerations, and common
pitfalls.

Conclusion: Just Say No to the DSO! If you have any questions, please send them to
[email protected]

Overall, the episode serves as a warning against the potential pitfalls of selling private dental
practices to DSOs and provides insights to help dentists make informed decisions about their
practices'; future.

Concluding Season 1, the conversation focuses on the complexities and challenges associated with dentists selling to Dental Service Organizations (DSOs). Many dentists who engage in these DSO partnerships find themselves literally "paying back" their earnings over extended periods, without reaping any significant benefits unless their DSO is gobbled up (i.e. acquired) by a larger DSO. This model has an alarming turnover rate, with about 70% of engaged dentists leaving within the first two years, suggesting widespread discontent among the dentists who work within DSOs. While it is argued that one need for DSOs arises as dental graduates might not be ready for private practice because of modern dental education, many leave due to the unsatisfactory work environment.

Bob and Nate further stress how the role of the dentist in a practice remains paramount. Their intrinsic value lies in the care they provide, and the episode emphasizes the vast growth and development opportunities available within the dentistry field. Throughout their careers, dentists have the unique opportunity to grow significantly in their clinical skills, and also grow in managerial, interpersonal, and leadership capabilities.

The hosts passionately advise dentists to retain ownership of their practices and be cautious of the DSO model's allure. They anticipate potential challenges for DSOs in the future, especially in retaining top-tier talent and managing the associated financial constraints. Concluding the episode, there's a call to challenge the conversation about DSOs in the dental community, placing emphasis on individual dental practices over corporate DSO models.