Why DSO Vendors Need to Upgrade Their Products to Enterprise Level
As the dental and orthodontics industry shifts to the DSO model, vendors need to meet the higher expectations of their clients.
What is the DSO model and why is it growing?
The DSO (Dental Support Organization) model, or dental service organization, is a business model where a group of dental practices are managed by a central entity that provides administrative, financial, and operational support. The DSO model allows dentists and orthodontists to focus on their core competencies, while benefiting from economies of scale, shared resources, and best practices. The DSO model is growing rapidly in the US, as more dental professionals seek to join or partner with existing DSOs, or create their own. According to a report by McKinsey, the DSO market share in the US increased from 16% in 2017 to 21% in 2019, and is expected to reach 30% by 2024.
What are the challenges and opportunities for DSO vendors?
As the DSO model grows, so does the demand for software and technology solutions that can support the complex and diverse needs of the DSO clients. DSO vendors, or the companies that provide software and technology products to the DSO market, face several challenges and opportunities in this evolving landscape. Some of the challenges include:
- Taking applications designed for a handful of users and make them scalable for this market.
- Adapting to the changing regulations and compliance requirements of the dental and orthodontics industry.
- Serving both the traditional single practice and offering products that fit the needs of DSOs
Some of the opportunities include:
- Expanding the customer base and revenue streams by offering solutions that cater to different segments and niches of the DSO market.
- Building long-term and loyal relationships with the DSO clients by providing value-added services and support.
- Leveraging the data and insights from the DSO clients to improve the product features and functionality.
How can DSO vendors upgrade their products to enterprise level?
To succeed in the DSO market, vendors need to upgrade their products to enterprise level, meaning that they need to offer solutions that are secure, scalable, robust, and customer-centric. Some of the ways that DSO vendors can achieve this are:
- Enhancing the security and privacy of the data and transactions of the DSO clients, by using encryption, authentication, authorization, and auditing mechanisms.
- Offering solutions that operate in a multi-tenancy environment
- Improving the scalability and performance of the products, by using cloud-based, modular, and flexible architectures that can handle large volumes of data and users.
- Strengthening the reporting and analytics capabilities of the products, by using data visualization, dashboards, and artificial intelligence tools that can provide actionable insights and recommendations. Offer reporting solutions that offer “roll-up” reporting from sperate entities.
- Increasing the options and quality of the customer service and support, by using chatbots, self-service portals, and feedback mechanisms that can provide timely and personalized assistance.
