The emergence — and exceedingly strong growth — of managed-group practice compared to solo practice — a 20 to 1 ratio in 2012 — is a clear indicator that the future of dentistry will be very different. Adding fuel to the fire is the fact the majority of solo practitioners are between 45 and 55 years old, and new graduates are unable to purchase dental practices. Shifting economics dominated by third parties further contributes to the changing landscape of dentistry.
Dentists need to prepare themselves for leadership, partnership, and directorship of managed-group practices, a void that is currently being filled by senior business executives. The DEO’s current focus is on training dentists to be leaders, senior managers, and directors of managed-group practices so that they can competently partner with senior business executives to generate successful business expressions. Collaboration is key — and now is the time to start preparing yourself.