Richmond Dental and Medical Exhibits at AADGP’s Annual Group Dental Expo

Richmond Dental And Medical recently headed west to Las Vegas for the American Academy of Dental Group Practices’ Annual Group Dental Expo (AADGP 2018).

Held at Bally’s Las Vegas from January 31 through February 3, AADGP 2018 brought together a host of nationally-renowned speakers, more than 150 representatives from the dental community, and exhibitors from multiple manufacturers and distributors of dental products. Richmond Dental and Medical was a first-time exhibitor at the 2018 event.

The AADGP exists to promote the group practice concept in the dental industry as a way to more effectively achieve quality clinical care in the face of rising costs and regulations. Through its networks, events, and publications, the AADGP provides educational resources to empower dentists looking to deploy the group practice concept. Small and medium-sized practice groups, some of which are organized as dental service organizations (DSOs), comprise the membership ranks of the AADGP.

As a mainstay in the dental industry since its 1895 founding, Richmond Dental and Medical is committed to ongoing product innovations that continue to aid dentists and assistants in advancing the quality of clinical care. Events like AADGP 2018 help the company stay in close consultation with representatives of one of its core markets, dental group practices.

Due to a variety of factors, including regulatory and pricing pressures, the rising costs and debt associated with professional degrees, and other marketplace challenges, the medical and dental communities have responded by creating group practices, integrated delivery networks, and other corporate mechanisms for delivering quality of care at a greater economic scalability. In the world of dentistry, this dynamic often means that the solo practice, which has been the dominant entity of choice, has given way to larger partnerships and much larger, multi-location entities.

The DSO is typically defined as having a corporate location, where administrative, accounting, and purchasing take place, while an extended network of clinics house dentists and hygienists performing patient care duties.  While current estimates peg the number of dental group practices at somewhere between 14 and 20 percent, nearly eight percent of all dentists have joined DSOs  as of late 2017. The  rate of dentists adopting the DSO model is growing at a rate three times higher than the growth rate of the entire industry. Some industry leaders predict that the DSO model may overtake dentistry within a couple of decades, while others think group practices will ebb over time.

“The rise of the dental group practices and DSOs, in particular, not only speaks to the convergence of multiple marketplace factors, but also a generational shift,” said Richmond Dental and Medical’s Fran Eskew. “Companies like Richmond Dental and Medical are evolving in our approach to our customers--dental clinics worldwide--as we see the Millennial generation reach maturity and add their own unique perspectives to the industry. One of this generation’s chief contributions has been adoption of the dental group practice and DSO models to address the staggering costs they’ve faced upon entry into the industry.  They need mechanisms for achieving faster return on investment when the cost of their education often reaches well into the six figures, and buying into a traditional practice costs more than half a million dollars, typically.”

For Eskew and the Richmond team, the rise of the DSO and other group practice platforms means the company will continue to focus not just on clinical excellence, but on economic value. “The balance of quality and cost has always been a driver for elite manufacturers, but now it’s an outright imperative if you want to become part of the DSO supply chain,” she explained.

Richmond Dental and Medical looks forward to serving the group practice community effectively for many years to come, with continued focus on innovation and quality.