Not all group purchasing organizations and dental support organizations are the same. Smile Source is a great example of a non-traditional model.
Smile Source formed to help independent dentists in the U.S. work together and preserve the profession of independent dentists,” said Trevor Maurer, CEO of Smile Source.
“It brings great dentists together and gives them the ability to have group practice resources and to collaborate” for learning, fresh ideas, and problem resolution.
“We're not for everybody, but we're for the independent dentist who is an entrepreneur. We really want to help with the business element. We want to help them drive revenues and reduce expenses,” said Maurer.
The Smile Source model is an off-shoot of Vision Source, a company that was formed to help independent optometrists compete in a changing marketplace. Now one in five independent optometrists is part of Vision Source.
Smile Source Practices Outpace National Growth Average
“The DSO space is exploding,” said Maurer. “And with that rapid growth comes pressure on the independent dentists. So, we give independent dentists the ability to compete through four different key areas.”
In the last six years, Smile Source has increased the revenues of its collaborative practices by over $130,000,000. The average Smile Source practice size is $1,100,000, whereas the average in the U.S. is $750,000.
“In the industry, there is one percent growth. We've maintained 5.4 percent growth, year after year, over the last six years,” said Maurer. This has been accomplished through collaborative buying of supplies, marketing, education, and business meetings in local business units in 43 states. “We'll get together monthly or quarterly, whatever the group wants,” said Maurer, “and we'll literally do issue resolution to help them run a better practice.”
“Best Buying Prices in the Industry”
As a buying group, Maurer said Smile Source has the best prices in the industry, and that’s a primary reason why dentists join. “When they realize they can let their guard down and open up to other like-minded dentists, they realize they can learn from them,” said Maurer.
“People obviously come in thinking that they need to compete in this world, by saving money, but what they realize being part of Smile Source is that there's a lot more than just cost savings to building a great dental practice. And that's what Smile Source provides.”
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