Posted by dentistry.co.uk on the 12 January
What is Dentex and what benefits does the co-ownership model offer practice principals?
Dentex is a co-ownership dental business that enables dentists to create value and achieve more of what they want to in life. Their model is truly unique in the benefits they offer their partners and looks to address some of the restrictions dentists have experienced as part of corporates in the past.
They offer a way for dentists to extract equity from their practice while continuing to stay involved and benefit from the growth, as well as preserving their clinical independence. Dentex provides support to dentists as partners, so they continue to run their practice, while knowing that there is help at hand to guide them through thorny issues.
Dentex has shown significant growth thanks to its unique offering. They have ambitious growth expectations and are so far on track to hit their target of 150 practices by 2022.
BENEFITS OF DENTEX’S CO-OWNERSHIP
Wealth is shared with partners
Dentex differs from traditional dental corporates by offering dentists considerably better long-term wealth creation opportunities through retained equity in their practice. The model is designed to share the value created with partners, meaning they benefit more from the growth of the group.
Renowned dentists as your partners
Dentex is not about running a business model that’s dictatorial, it’s about helping dentists work together. Dentists often face similar challenges, so they encourage their partners to build and grow in a collegiate way. The company already boast a great dental partner roster including Elaine Halley, Rahul and Bhavna Doshi, Mitesh Badiani, Stephen Tarr, Mark Hughes and Tidu Mankoo.
Retain practice identity
Co-ownership means the practice retains its identity. Individual identity is what makes the practice unique and sets it apart from others. Keeping the practitioners, team and patients at the core of Dentex is paramount to the success of the group.
Realise equity from your practice
Dentists are able to extract equity from their practices enabling them to invest in other areas of their lives, providing greater flexibility and more options for the practitioner.
Alleviating some of the burdensome administrative tasks through a centralised support team i.e. legal, compliance, marketing, HR, finance, leaves dentists free to focus on clinical practice and developing specialist skills. Member dentists have access to a clinical support structure with specialist advice, as well as being part of a national network of clinicians.
Better lifestyle options
Co-ownership releases equity in the business which can enhance lifestyle. Reduced burden of administration and the support network can reduce stress and enhance the work-life balance.
Compliance and regulation assistance
Apolline provides tailored, hands-on support to dental practices with all matters relating to regulatory compliance. Dentex partners have access to Apolline’s support and guidance using a combination of in-practice support and highly innovative web-based IT tools for measuring and achieving compliance and customer service excellence.
Long-term focus, not short-term profits
Many corporate groups are looking only for short-term profits rather than long-term growth. Dentists are often ‘encouraged’ to use cheaper materials and certain laboratories. At Dentex the focus is on long-term growth and improved performance rather than short-term profiteering.
Dentex practitioners have complete clinical freedom, meaning they use the materials and laboratories they want. This strong focus on clinical freedom creates and environment in which co-ownership can really flourish.
Financially accessible to young dentists
Their current focus is on growing a group of principals and at the same time is working with associates to develop ways to support those who want to progress, but can’t get funding or lack confidence to take the next steps.
They have long-term shareholders who are focused on creating a sustainable and profitable business for the future, giving all shareholders the opportunity to remain long-term investors, or provide liquidity as needed.
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