How to Maximize Your Referrals and the Value of Your Clinical Practice
Do you have a managed referral network that enables you to increase your profits while providing better care to your patients?
Whether you’re a general dentist or a specialist, you can greatly increase your income and reputation now, and your selling price in the future, by working with a managed network of dental professionals whose services and skills your patients need.
Here’s an example of a dentist referral network:
All of these dentists are General Dentists. Most of them are also specialists whose services may be needed by the patients of other dentists in their referral network.
By collaborating with dentists who are members of your managed referral network, you can provide better service to your patients. This also helps you to keep those patients within your referral network, instead of letting them go to another dentist who will not refer patients to you or reward you for sending patients to them.
How an Un-DSO makes it easy for you to maximize your referrals, profits and selling price:
An Un-DSO management company serves as the hub in the middle of the group of dentists. Some of these dentists are general dentists, while others are specialists.
Like a DSO, the Un-DSO is not engaged in a licensed profession. It’s merely a management company that provides services that maximize the profitability of each of the dental practices it helps to manage.
It centralizes, standardizes and implements systems, processes, policies, and procedures for all the offices with a dedicated network of service providers, all of which are designed to help the clinical practice provide better care, get more patients, and make more profits.
That way, each dentist can focus on taking care of patients instead of figuring out how to provide the non-clinical services themselves.
However, unlike a DSO, the Un-DSO is equally concerned about the dentist who is transitioning into the practice as well as the selling or exiting dentist, and it helps them to work together to create financial freedom for both of them.
While the older dentist is in the process of transitioning out, the new dentist who is transitioning in can enjoy the efficiencies of the Un-DSO management company and the mentorship of the selling dentist.
The selling dentist, meanwhile, is able to spend more time helping the new dentist to provide excellent care and retain more patients and staff members, so the practice they’ve spent their career building up can thrive after they finish transitioning out.
The Un-DSO also helps to manage your referral network, so that each dentist receives more referrals and reduces marketing expenses, thus maximizing their profits.
Maximizing profits now will increase your selling price later.
When you go to sell your practice, the sales price will be based on your profits.
A small single-office practice will usually sell for the equivalent of 1 year’s earnings.
A multi-office practice with a centralized Un-DSO management company, on the other hand, can sell for 5-10 times annual earnings or more!
The management company helps the practice to maximize profitability so that when your practice is ready to be sold, you will be able to secure a purchase price that is several times what the clinical practice would have received on its own.
We also work with the younger dentist who’s transitioning into your practice, so they can continue to grow the business you’ve built and provide your patients with superior care.
When you work with an Un-DSO, you can be sure that we’ll be with you every step of the way: from transitioning into a practice if you don’t already have one, to increasing the value and efficiency of that practice, to helping you transition out of the practice and into a financially secure retirement.
Are you ready to get more referrals, offer better service, and maximize your profits and the value of your practice?
If you’re ready to get started, or you want to discuss this strategy further, our Un-DSO transition and financial freedom experts will be happy to help you decide if this is the right path for you.
Just click the button below to access our scheduler and book your free consultation.
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