Julian English interviewed renowned dentist Rahul Doshi exploring his decision to join Dentex
Julian English (JE): What challenges does a principal typically experience?
Rahul Doshi (RD): The independent dental practitioner is unique in the demands they face. They have to marry clinical care with the demands of running a business. This must be done while exercising the strong interpersonal skills demanded to help practices and run a team. It’s a difficult balancing act which can often leave even the most successful practitioners wondering if there is an easier way. This was exactly how I felt.
In the past we won multiple awards including most recently ‘Outstanding Contribution to Cosmetic Dentistry’ in March 2017 at Aesthetic Dentistry Awards. We considered ourselves very experienced and yet there were times when running a practice got in the way of being a dentist. This is what drove us to join Dentex.
The reason we became dentists was to provide exceptional patient care and do as much great clinical dentistry as possible. I remember when I was an associate feeling compromised because I had to operate within the rules of the practice. I had to use the materials provided by the practice, which sometimes were not those I would have chosen. To gain more clinical freedom, I purchased a practice. But the demands of running my own business created a different set of problems inhibiting pure clinical freedom.
Growing the practice demanded communication skills, marketing, team building, leadership, and bureaucracy and compliance understanding. These new skills took time to develop and directly turned my head away from clinical care. With Dentex, I have the ability to use these skills with their support to grow my own group. I can share these skills with those in my regional group allowing them the time they need to focus on their patients.
JE: What led you to consider co-ownership as the way forward for your practice?
RD: For a quarter of a century, my wife Bhavna and I have developed and run multiple practices, gaining a wealth of knowledge and experience in all aspects of dentistry. We provided support to colleagues in the profession and even set up an advanced training institute on Functional Aesthetics, coaching and mentoring dentists in clinical dentistry and the business side. This has enabled us to understand the intricacies of establishing a successful dental practice that is based upon quality dentistry and cohesive teamwork.
JE: How and why did you come to choose Dentex?
RD: In recent times we looked for a realistic way to expand and replicate the business model we set up. This was tricky.
We were introduced to Dentex who provided a genuine partnership with an extensive vehicle of support and finance that has enabled us to continue to grow exponentially. They have an amazing support structure of forward-thinking innovative people who make growth and acquisition far simpler than it would have been otherwise.
Dentex is a partner that has allowed us to preserve our ethos and way of business, and provide a collaboration of mastermind. We have been able to keep our business identity, leadership philosophy, quality of dentistry and exceptional patient care. At the same time they have given us the financial and business support to grow our group of practices.
JE: How does Dentex work?
RD: Dentex creates freedom through a unique co-ownership model in which partners get the support of being part of a larger network of dentists, while still being able to preserve independence and pursue their individual interests. Although Bhavna and I understand the intricacies of establishing a successful dental practice based upon quality dentistry and cohesive teamwork, we were looking for a viable way to expand. We wanted to replicate the business expertise we have acquired, and that is needed to drive practices forward.
Dentex provides us with genuine partnership, lots of support and sufficient finance to enable us to grow significantly. They have an amazing support structure of dynamic colleagues who use their skills and expertise to make the acquisition process easy.
Partners tend to be ambitious, forward thinking, motivated and already have successful businesses. Joining with Dentex can help those looking to expand, achieve greater levels of success than they could have on their own.
JE: How do negotiations/deals work?
RD: Even though there are three parties involved when putting a deal together the process is actually very simple. Dentex has a clear and transparent process of working and of the way it values practices. The valuation is presented to the seller, as long as that is accepted, Dentex does the vast amount of due diligence needed to ensure there are no hidden surprises. If there are any issues, they are identified early and can be addressed, giving me absolute confidence that the deal will be a good one. The biggest drawback in acquiring a practice on your own can be the time taken for the legal and financial aspects to be completed. Dentex can complete a transaction in as little as 16-weeks assuming no CQC changes. There can still be delays of course, but they’re less likely with a dedicated team supporting the seller through the process.
JE: What were the challenges in achieving your overall aim?
RD: My ultimate aim is to have a group of between 12 and 15 practices, which I’m looking to build up to over the next few years. I have the capacity to look after a group that size and I enjoy developing businesses. I find the non-clinical aspects of dentistry very interesting and am looking forward to moving into a different phase of my career. I’m expecting the new challenges to energise me. There will be a build-up of asset value, which creates a defined exit strategy for the future.
What also excites me is that I will be able to mentor dentists clinically in many aspects, whether this is in treatment planning, occlusion, treating difficult cases or cosmetic dentistry. Teaching and mentoring has been my passion for the last 17 years and Dentex’s model enables me to spend more time chairside mentoring and personally teaching the dentists in my group.
Dentex’s unique co-ownership model means it partners with dentists for the long-term, to build a sustainable business.
It was set up by and is run by dentists, so they know first-hand what it takes to maintain clinical excellence and run a successful business. Dentex can also put you in touch with other Regional Partners across the UK, giving you access to a network of other ambitious and dedicated professionals who can support you to grow.
Clinical excellence is at the front and centre of the Dentex culture. The group already works with several established and renowned practices and this number is growing rapidly.
Rahul and Bhavna Doshi and a number of other high profile dental practitioners have chosen this model for their future. It is definitely worth considering.