What DSOs will prioritize in 2024

Many DSOs next year will choose to prioritize basic measures that have led to success in the past, 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 what he predicts DSOs will be most focused on in 2024. 

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 do you think DSOs will prioritize next year?

Dr. Barry Lyon: I think 2024 will be a year that DSOs get back to basics. While riding into the next year on strong demand for patient care, it’s important that DSOs focus on what has made them successful in the past— sound KPIs, positive office cultures, and recruiting and retaining capable staff and providers.

Of all the KPIs that all DSOs need to monitor, expenses, new patients, treatment acceptance rate and accounts receivable are critical. But closely monitoring all KPIs is the foundation for growth in 2024. Again, it’s getting back to the basics. Scrutinizing successes and failures are necessary for every DSO.

Office cultures and hiring and retaining staff are closely aligned. As we’ve said so many times this past year, all DSOs are finding adequate staff members one of their greatest challenges. Since fostering loyalty among office employees has been difficult since the pandemic and the Great Resignation, DSOs know the key to retention is dependent a great deal on office cultures. It requires a hard look at what’s driving the loss of employees and what’s necessary to create a culture that nurtures. While being competitive with compensation offerings is necessary, so is working within budgets.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.