At Becker's Future of Dentistry Roundtable in June, DSO leaders participated in a session titled "The DSO Economy & the Emergence of A.I." During the session, experts Alamin Udin, CEO of NexHealth, Dan Romary, CIO of NADG, and Philip Toh, Founder of The Smilist, discussed the past and current economic landscape and examined its impact on DSOs and the dental industry.
Key takeaways:
1: Nationwide labor shortages extend to the dental industry.
Widespread workforce shortages are a major economic concern for many business sectors in the U.S., including the dental industry. The number one concern for most DSOs and dental practices is staff shortages.
2: Technology can mitigate staffing challenges by amplifying the capabilities of existing workers.
Rather than replacing people, DSOs should leverage technology to amplify and extend the capabilities of the existing workforce. By leveraging technology, such as patient experience platforms, automation, and AI, dental practices and DSOs can enhance efficiency and productivity.
3: Technology continues to progress regardless of economic conditions.
Technology is constantly advancing, regardless of fluctuations in the economy or other external factors. While the economy may go through ups and downs, technology consistently progresses. This implies that embracing technology is essential for DSOs' long-term success.
4: Successful adoption of technology requires aligning it with business goals and addressing change management.
It is crucial to evaluate how a technology solution adds value to the business, whether through financial benefits, process improvements, or enhancing the patient experience. Additionally, change management and effective communication play a vital role in driving the adoption and acceptance of technology among dental professionals.