In this episode we are joined by Jim Mizouni, chief development officer at Sage Dental, to discuss the similarities or differences seen in DSO M&A activity vs drug store space, the lessons DSOs can learn from this, the strategies in preventing oversaturation and more. This episode is sponsored by Sage Dental.
Summary
Sage Dental's Jim Mizouni Shares Insights on DSO M&A Activity vs Drug Store Space
Jim Mizouni, the Chief Development Officer at Sage Dental, recently joined an episode to discuss the similarities or differences seen in DSO M&A activity versus the drug store space. He also shared his insights on the strategies in preventing oversaturation and the lessons DSOs can learn from this.
The Drugstore Wars and DSO Market Opportunities
Jim pointed out that the drug store wars have reduced the industry down to two main players, highlighting the importance of standing out in the dental industry. There are 190,000 dental offices in the US but only a thousand possible patients per office. Therefore, DSOs need to understand the market opportunity and differentiate themselves by providing something unique to the patient. Jim believes that offering additional services such as drive-throughs, curbside pickups, reward cards, loyalty programs, and more can help DSOs compete with other dental offices.
Investing in Technology and Building a Strong Patient Proposition
Jim also highlighted the importance of investing in technology and building a strong patient proposition to differentiate dental practices from their competitors. He suggests that DSOs should think about leveraging segmentation analysis to identify their target customers and their individual needs. By doing so, DSOs can tailor their services to their patients and build stronger relationships with them.
Preventing Oversaturation Strategies
To prevent oversaturation, Jim advised DSOs to focus on sustainable growth strategies. He believes that DSOs should focus on expanding into markets where there is unmet patient demand for quality dental care. Additionally, DSOs can consider partnering with private practitioners to expand their reach and patient base.
About Sage Dental
Sage Dental is a leading dental support organization that partners with dentists and their practices to provide quality care to their patients. The company's mission is to provide exceptional care that is focused on patients' well-being and health.
This episode was sponsored by Sage Dental.
As Jim Mizouni's insights suggest, DSOs have significant opportunities to differentiate themselves from the competition by offering a unique, tailored patient experience, investing in technology, and focusing on sustainable growth strategies.
Note: This is an AI generated transcript, not edited by a staff writer and is solely intended for educational purposes. If you have any questions/concerns, reach out to podcasts@beckershealthcare.com
This episode aired on 12/02/2022 and can be listened here.
Subscribe to Beckers Healthcare Podcast here.