Sponsored Content: Lone Peak Dental Group
Dentistry is full of entrepreneurs. Doctors who own one successful practice see opportunity to grow by adding more practices. They quickly realize how difficult it is to get to the next level. These doctors must learn new things quickly, wear several hats, and be experts in organizational infrastructure. That’s when they start looking for help – most often from an established DSO.
However, that help can come at a cost. In many cases when a dentist sells their practice, they risk giving up everything they’ve managed to build. This can be great news for doctors who want to retire or cash out. But for those looking to continue their legacy, they need more.
Lone Peak believes in the entrepreneurial dentist and provides them with a unique ownership model. Doctors retain ownership in their practices while utilizing Lone Peak’s back-office support. Their model shares profits with partners through monthly distributions on top of their production percentage. This ensures continuity between the practice and the DSO.
“Owner-doctors at Lone Peak get the best of private practice with full clinical autonomy,” says Ray Caruso, CEO of Lone Peak Dental Group. “as well as the ability to make business and people decisions. Our partners are financially rewarded from the business decisions they make -just like in private practice – which is what they want anyway. All the while, they receive expert support in human resources, marketing, operations, accounting and IT.
“I’ve worked in several models out there. Lone Peak’s benefits the doctors, team members and communities the most. Decisions are made at the practice level by the partner doctors. Team members and associates love this as it represents the community they serve as well as the practice.”
The ownership model is key to success. “When we look at practices to partner with, the number-one criteria is a partner-doctor,” says Jennifer Mallon, chief development officer at Lone Peak. “We’re designed to support entrepreneurial doctors that want to keep growing. Whether they have one practice or ten, we’re here to support their growth needs.”
“Our entrepreneurial doctors have the freedom and resources to identify a spot for a second practice and get it started successfully,” says Caruso. He describes how Lone Peak manages the development process and provides the operational template. “It can be a De novo or another acquisition. Several of our doctors own multiple practices in their geography. We truly love supporting their growth and establishing opportunities for more.”
Lone Peak was founded by two pediatric dentists in one Denver location. It has grown to 65 offices across 15 states. Lone Peak has a vested interest in owners’ success. Their model provides true equity participation at the local level where partners have a direct impact on how successful they are.