Dental Industry Execs Form New Dental Partnership Organization
Dental industry executives Cameron Elrod and Dan Redifer have co-founded the Equishared Dental Group. Similar in approach to a traditional dental service organization (DSO), Equishared is positioned as a dental partnership organization (DPO).
Bloomfield Hills, MI, June 30, 2021 --(PR.com)-- Equishared’s new approach is dedicated to managing the administrative functions of a dental practice by introducing and integrating lean operating principles and process improvements to decrease the stress of providers while increasing profitability.
But unlike traditional DSO’s, the Equishared DPO preserves the dentist ownership model through a partnership with onsite, hands-on administration of the dental team and all other non-clinical functions.
“We become an affiliation of dentists utilizing a common platform of services, processes, and systems...positioning dental practices for growth and potential exit strategy that rewards our partners far beyond what an individual practice can do on its own but, most importantly, maintains ownership interest,” said Redifer.
Both Elrod and Redifer have significant dental industry experience. Prior to forming Equishared both met and worked together at Patterson Dental, a dental supply company that distributes dental merchandise, equipment, software, and solutions for dental professionals.
Like many business sectors, the dental industry over the past several years has been experiencing a transition with consolidation including buyouts through DSO’s, mergers, private equity acquisitions and other trends.
Elrod mentions, “Many dental practices are drawn to efficiencies that chains (multi-location and DSOs) can bring to individual dental practices, which these days include sophisticated marketing and expensive technology.” He added, “Our partnership model allows the dental practitioner to focus on dentistry while Equishared manages all of those back-office aspects of the business.”
Equishared has already made eight acquisitions representing eleven dental offices. Acquisitions thus far are all Michigan-based but Equishared is in early talks with practices around the country.
Doctor Donald LeBlanc of the Family Dental Center in Midland, Michigan was one of the first practice partnerships. “Equishared has brought a community of dentists together and created a new model that benefits everyone.” He added, “They brought all the business acumen we didn’t have so I along with our other two dentists were freed up to focus on dentistry.”
“I was seeking a way to leverage my costs in terms of group discounts and pricing without having to join a really big group,” said Doctor Katherine DeYoung of Lansing, Michigan.
According to Dental Group Practice, a leading source of news and information within the dental space, dental industry consolidation is likely to accelerate. It indicates large groups / DSOs have seen about 15% growth over the past decade; however, forecasts predict that this same growth rate will be seen in a far shorter time frame (Dental Practice Transitions: Consolidation vs. Sole Proprietors. Henry Schein, 17 July 2018, dentalpracticetransitions.henryschein.com/blog-dental-practice-transitions-consolidation-vs-solo-practitioners.) More specifically, this 15% growth rate is likely to be achieved in the next 5 years rather than the previous growth period of 10 years. This indicates a potential market consolidation rate of 30% through 2021.
Additionally, as the industry keeps consolidating, groups that decide to grow may fare better than smaller groups. Larger groups (> 3-4 locations) will have more bargaining power for supplies, they will offer more security to incoming associates, and they will likely have more in-tuned systems among many other things. As the trend grows, the competitive advantages of the multi-location / DSO model are likely to put downward pressure on single location, mom-and-pop practices.
Based on industry trends and projections as this, Equishared anticipates a growth model close to fifty dental practices within three-years.
More about the co-founders:
Cameron Elrod: Co-Founder
Cameron Elrod is a co-founder of Equishared Dental Group and Left Brain Practice Management Group. Cameron is a dental industry veteran with 25+ years of experience. Prior to EquiShared, Cameron spent 23 years working with Patterson Dental for much of his career as a General Manager in the Michigan market.
His experience includes consulting dentists with practice management, marketing, building new dental offices, and helping dentists transition their dental practices. Cameron speaks at several local dental events and serves as a board member on the Michigan Dental Association Foundation.
Cameron’s large network in the dental industry combined with his management, consulting, and leadership experience makes him uniquely qualified to build and lead EquiShared Dental Group.
Dan Redifer: CEO
Dan graduated from California State University with a degree in Business Administration with a focus on finance. He spent 10+ years with both Ford Motor and H&R Block in executive leadership and corporate strategy before taking on the role of CEO of a regional mortgage banking operation based in Pittsburgh.
Dan later earned his MBA from University of Massachusetts Amherst with an emphasis on Supply Chain and Turnaround Management. He earned his Six Sigma Lean Green Belt Certification in Healthcare from Villanova University.
Prior to forming Left Brain, Dan was COO for one of the nation’s largest non-profit.
Dental Support Organization (DSO) with over 30 locations and 400 employees, including 80 doctors. He was responsible for all clinical and nonclinical field support personnel, administrative staff, facilities, Information Systems, marketing, and call center operations. The culmination of these skill sets, and experience were foundational of what became Left Brain Practice Management.
More information can be found at: Equishared.com
But unlike traditional DSO’s, the Equishared DPO preserves the dentist ownership model through a partnership with onsite, hands-on administration of the dental team and all other non-clinical functions.
“We become an affiliation of dentists utilizing a common platform of services, processes, and systems...positioning dental practices for growth and potential exit strategy that rewards our partners far beyond what an individual practice can do on its own but, most importantly, maintains ownership interest,” said Redifer.
Both Elrod and Redifer have significant dental industry experience. Prior to forming Equishared both met and worked together at Patterson Dental, a dental supply company that distributes dental merchandise, equipment, software, and solutions for dental professionals.
Like many business sectors, the dental industry over the past several years has been experiencing a transition with consolidation including buyouts through DSO’s, mergers, private equity acquisitions and other trends.
Elrod mentions, “Many dental practices are drawn to efficiencies that chains (multi-location and DSOs) can bring to individual dental practices, which these days include sophisticated marketing and expensive technology.” He added, “Our partnership model allows the dental practitioner to focus on dentistry while Equishared manages all of those back-office aspects of the business.”
Equishared has already made eight acquisitions representing eleven dental offices. Acquisitions thus far are all Michigan-based but Equishared is in early talks with practices around the country.
Doctor Donald LeBlanc of the Family Dental Center in Midland, Michigan was one of the first practice partnerships. “Equishared has brought a community of dentists together and created a new model that benefits everyone.” He added, “They brought all the business acumen we didn’t have so I along with our other two dentists were freed up to focus on dentistry.”
“I was seeking a way to leverage my costs in terms of group discounts and pricing without having to join a really big group,” said Doctor Katherine DeYoung of Lansing, Michigan.
According to Dental Group Practice, a leading source of news and information within the dental space, dental industry consolidation is likely to accelerate. It indicates large groups / DSOs have seen about 15% growth over the past decade; however, forecasts predict that this same growth rate will be seen in a far shorter time frame (Dental Practice Transitions: Consolidation vs. Sole Proprietors. Henry Schein, 17 July 2018, dentalpracticetransitions.henryschein.com/blog-dental-practice-transitions-consolidation-vs-solo-practitioners.) More specifically, this 15% growth rate is likely to be achieved in the next 5 years rather than the previous growth period of 10 years. This indicates a potential market consolidation rate of 30% through 2021.
Additionally, as the industry keeps consolidating, groups that decide to grow may fare better than smaller groups. Larger groups (> 3-4 locations) will have more bargaining power for supplies, they will offer more security to incoming associates, and they will likely have more in-tuned systems among many other things. As the trend grows, the competitive advantages of the multi-location / DSO model are likely to put downward pressure on single location, mom-and-pop practices.
Based on industry trends and projections as this, Equishared anticipates a growth model close to fifty dental practices within three-years.
More about the co-founders:
Cameron Elrod: Co-Founder
Cameron Elrod is a co-founder of Equishared Dental Group and Left Brain Practice Management Group. Cameron is a dental industry veteran with 25+ years of experience. Prior to EquiShared, Cameron spent 23 years working with Patterson Dental for much of his career as a General Manager in the Michigan market.
His experience includes consulting dentists with practice management, marketing, building new dental offices, and helping dentists transition their dental practices. Cameron speaks at several local dental events and serves as a board member on the Michigan Dental Association Foundation.
Cameron’s large network in the dental industry combined with his management, consulting, and leadership experience makes him uniquely qualified to build and lead EquiShared Dental Group.
Dan Redifer: CEO
Dan graduated from California State University with a degree in Business Administration with a focus on finance. He spent 10+ years with both Ford Motor and H&R Block in executive leadership and corporate strategy before taking on the role of CEO of a regional mortgage banking operation based in Pittsburgh.
Dan later earned his MBA from University of Massachusetts Amherst with an emphasis on Supply Chain and Turnaround Management. He earned his Six Sigma Lean Green Belt Certification in Healthcare from Villanova University.
Prior to forming Left Brain, Dan was COO for one of the nation’s largest non-profit.
Dental Support Organization (DSO) with over 30 locations and 400 employees, including 80 doctors. He was responsible for all clinical and nonclinical field support personnel, administrative staff, facilities, Information Systems, marketing, and call center operations. The culmination of these skill sets, and experience were foundational of what became Left Brain Practice Management.
More information can be found at: Equishared.com
Contact
Equishared Dental Group
Michael Benghiat
248-302-6811
www.equishared.com
Michael Benghiat
248-302-6811
www.equishared.com
Contact
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