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After those steps, Owner Dentists try to do a working interview with the dentist. That
working interview takes place over one to two days. Then they can get an idea of
how the dentist works under pressure. Some dentists make the potential hire assist
them for the day. Others will actually go and assist a potential associate to see how
they perform.
What we operate are large, multi-specialty group practices. Through numerous studies,
we know that patients really like it when all their services under one roof — oral
surgery, ortho, endo, pedo, hygiene — so they don’t have to move around offices.
We’ve tried very hard to integrate all those specialties under one roof for each practice.
And the associate plays a vital role. Because, what we still believe and what we
coach on is the “gatekeeper model.” We believe that most patients still access dental
care through their general dentist. The general dentist then moves the patient to
wherever they need to be. A healthy patient may stay with the dentist and his or her
hygienist. Patients with poor oral health will move out to various specialties. At PDS,
the associate dentist, the new dentist, is extremely important to our organization.
MD: It sounds like most of the practices you get involved with are dental practices that
have already been in existence for say 10 to 20 years, and the dentist is interested in
getting some help from you guys. Do you ever start practices from scratch, or is that
something you might do with one of the Owner Dentists if he or she decides they’d like to
expand and have a second practice?
ST: It’s actually the opposite, to be honest. We focus on what we call “new” offices.
That’s kind of our specialty. So what we do for dentists is get out in front of the curve.
We find the best real estate and locations and markets, sometimes two years before
that real estate becomes available.
Then, we try to match a dentist with the real estate. We actually focus on the development.
I can’t think of an instance in which a dentist sells his or her old practice.
PDS actually focuses on the de novo-style practice.
MD: Interesting. I guess part of the reason for that is maybe they chose a bad location and
that’s a reason their practice is struggling. So, you guys want to find this “high traffic”
area, where you can put a practice on a piece of real estate and be assured of a certain
number of new patients. Is location really important to PDS?
ST: Location is extremely important. We opened an office recently with a dentist in
Scottsdale, Ariz., which has got to be one of the most competitive dental markets in
the U.S. Lots of dentists practice in Scottsdale. The very first day we opened, we had
170 patients already booked out.
MD: Did you open it in the middle of the freeway?
ST: Exactly! Something’s going on there. Between my various companies, I’ve opened
or helped open 275 practices.
MD: I don’t know if anybody keeps track of this, but that might be a record.
ST: It might be. There are others who are up there, too. I once held the record, but
I don’t think I do anymore. Nevertheless, we’re pretty good at opening offices and
getting them ramped up pretty quickly for dentists. In fact, we’ll open 41 or 42 new
practices this year.
MD: Wow! Forty-two is significant! So, most of the time, I take it, you’re probably not going
to an area like Scottsdale. The friends I talk to now that seem to be doing well seem to be
located in rural parts of California — Blythe, Bakersfield, Modesto, Fresno, places like
that. Is it kind of uncommon for you to go into a place like Scottsdale or Newport Beach?
Interview with Stephen Thorne31