Increasing automation of operations and adding new revenue streams are some opportunities DSOs can tap into to fuel growth, according to Barry Lyon, DDS.
Dr. Lyon is a chief dental officer for the division of orthodontics and pediatric dentistry at Sarasota, Fla.-based DSO Dental Care Alliance. He recently spoke with Becker's about the biggest opportunities for growth in the DSO field.
Editor's note: This Q&A is part of a weekly series featuring Dr. Lyon focused on topics in the dental industry and DSO field. This response was lightly edited for clarity and length.
Question: What are the biggest opportunities for growth in the DSO field?
Dr. Barry Lyon: According to some analysts, the DSO market is a $136+ billion market that is positioned to grow 6 percent annually. Currently fueling this growth is the fact that only 10 percent of the approximately 200,000 U.S. dentists are affiliated with a DSO. However, DSOs should not be content with these numbers but must look into the future for growth opportunities.
Demands in the current macroeconomic climate, in conjunction with continued staffing issues, will lead DSOs to find ways to automate their operations utilizing artificial intelligence and digitization. In addition, the utilization of natural language processing will lead to more efficient information access, data input and customer service.
As DSOs enter further into specialty care, they will benefit from diversification of revenue streams and cross-referrals across their practices. DSOs capable of integrating general dental and specialty care enhance their value to patients, are able to provide more comprehensive care and further solidify their brand.
As the connections between oral health and total body health become even more clear, DSOs will seize the opportunity to incorporate them into relationships with medical groups and thereby be able to expand their services and provide a wider range of care to their patients.