Leverage Technology for Location Growth with Brian Colao
The Bulletproof Dental Podcast Episode 339 HOSTS: Dr. Peter Boulden & Dr. Craig Spodak GUEST: Brian Colao TAKEAWAYS The dental industry is experiencing a shift towards same store growth as M&A activity becomes more constrained. Understanding your EBITDA is crucial for practice growth and valuation. Culture plays a significant role in practice value and patient satisfaction. Innovation, technology, and AI are driving same store growth and improving patient care. Joining a DSO can provide dentists with more opportunities for career advancement and financial stability. Working for a DSO can provide greater job security and protection against unpaid wages compared to private dental offices. DSOs have better quality control measures in place, ensuring a higher standard of care for patients. The dental profession is expected to become more consolidated, with DSOs accounting for a larger percentage of practices. As consolidation increases, valuations are likely to rise due to decreased supply and increased demand. The consolidation of the dental profession may pose an existential threat to insurance companies. Market conditions, including interest rates and political factors, can impact deal flow in the dental industry. Building a business that you don't want to sell can be a viable alternative to selling, but it's important to choose the right growth partner. The DYKEMA Summit is an annual event that brings together dental professionals to discuss industry trends and best practices. Chapters 00:00 - Introduction and Setting the Stage 01:19 - The Pulse of the Dental Industry 04:13 - The Importance of Knowing Your EBITDA 07:56 - The Changing Landscape of Dental M&A 12:43 - The Importance of Culture in Dental Practices 18:46 - The Transition to Same Store Sales Growth 23:05 - The Impact of Technology and AI in Dentistry 31:28 - The Advantages of Joining a DSO 34:43 - Benefits of Working for a DSO 35:49 - Quality Control in DSOs 37:03 - Consolidation of the Dental Profession 39:35 - Potential Threat to Insurance Companies 44:40 - Building a Business to Keep or Sell 49:43 - DYKEMA Summit REFERENCES Bulletproof Summit Bulletproof Dental Practice